With its extensive experience in the gaming industry, Apollo hopes to expand GC Gaming’s reach across Canada.
Canada.- Great Canadian Gaming Corporation has been acquired by New York-based investment firm Apollo Global Management for CAD$3.3bn.
GC Gaming operates twenty-five gaming establishments across four Canadian provinces, including the renowned Hard Rock Casino Vancouver.
Apollo intends on maintaining the current properties while expanding its reach across Canada.
The company’s headquarters will remain in Toronto and continue to be led by a Canadian management team and board of directors.
In a statement, Alex van Hoek, a partner at Apollo, said: “Great Canadian is a leader in the gaming and entertainment industry and, based on our experience and knowledge of the space, we see opportunities to work with their talented team to drive additional growth and value.
“With an industry-leading portfolio of assets and established presence in the best geographic markets across Canada, we are excited to help bring an enhanced experience to more guests across Canada.”
CEO of GC Gaming, Rod Baker, said: “We believe this transaction is beneficial for our shareholders, our team members, our guests, and other stakeholders as we continue to execute on our operational and development plans into 2021 and beyond, while we navigate through this volatile time.
“In addition, we believe Apollo’s extensive experience in the gaming sector will provide additional strategic benefits to help expand our gaming and hospitality offerings and to secure our position as a long-term market leader.”