Amazon is Killing Shopping Malls - Right? Not So Fast Says This Mall Developer CEO
Inc.com, September 5, 2017
There has been much hubbub of late about the demise of an American institution--the beloved shopping mall. There is even a site called deadmalls.com that offers open casket views of some of the hangout places of yesteryear. YouTube offers The Dead Mall Series in which the host conducts tours through mostly empty monoliths of concrete--a play by play of morbidity and melancholy.
But don't count malls out just yet. The U.S. shopping mall industry as a whole isn't dying--it's changing.
Brookfield, Great Canadian to operate Toronto area casinos
Bloomberg, August 2, 2017
Great Canadian Gaming Corp. and Brookfield Business Partners LP won a bid to operate gaming facilities in the Toronto area that generate revenue of more than C$1 billion ($788 million) as Ontario moves to modernize gambling in the province.
The Richmond, British Columbia-based casino operator and Brookfield Business, the private equity unit of Toronto-based Brookfield Asset Management Inc., were selected by the Ontario Lottery & Gaming Corp. to run three casinos for 22 years.
Brookfield Asset Management was founded in 1899 to finance streetcars and electric power in Brazil. Today, the Toronto-based firm has become a global player in alternative assets, managing about $250 billion in real estate, infrastructure, renewable-power projects, and private equity.
Just hours off a 14-hour commercial flight from Dubai, Brookfield Asset Management chief Bruce Flatt stares into a gaping hole in the ground that looks like open-heart surgery performed on an entire city block in Manhattan. Piles of beams, mazes of scaffolding and even active railroad tracks criss-cross each other...