Court OKs Apollo’s Bid to Acquire Canadian Casino Giant January 1, 2021, 11:02 am ·
The proposed acquisition of Great Canadian Gaming by Wall Street buyout fund Apollo Global Management has received court approval, the Canadian casino operator said Thursday.
The Supreme Court of British Columbia blessed the deal after Great Canadian shareholders voted in its favor last week.
New York-based Apollo first approached Great Canadian in August, informing it that it was considering a bid
between C$38 and C$41 per share. The private equity firm tabled a formal C$39-a-share offer for the casino operator in early November.
Apollo’s original offer faced heavy protests from some of Great Canadian’s biggest shareholders who complained that at C$3.3 billion (approx. $2.5 billion), it
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TORONTO Great Canadian Gaming Corp.’s deal to be acquired by a fund affiliated with Apollo Global Management Inc. has been granted court approval.
The Supreme Court of British Columbia signed off on the investment fund’s $45 per share takeover offer, the casino operator said on Thursday.
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The gaming company will be delisted from the Toronto Stock Exchange after the deal is finalized in the second quarter of 2021, as long as regulatory and closing conditions come through.
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Court approves takeover of Great Canadian Gaming by Apollo affiliate
TORONTO Great Canadian Gaming Corp. s deal to be acquired by a fund affiliated with Apollo Global Management Inc. has been granted court approval.
Dec 31, 2020 2:42 PM By: Canadian Press
TORONTO Great Canadian Gaming Corp. s deal to be acquired by a fund affiliated with Apollo Global Management Inc. has been granted court approval.
The Supreme Court of British Columbia signed off on the investment fund s $45 per share takeover offer, the casino operator said on Thursday.
The gaming company will be delisted from the Toronto Stock Exchange after the deal is finalized in the second quarter of 2021, as long as regulatory and closing conditions come through.
Last Comment: December 19, 2020 11:03 am ET | 1 Comment(s) | Jump to Comments
Further to the announcement on Dec. 18, 2020, from the Ontario provincial government that certain businesses in certain regions, such as casinos and racetracks, will be restricted further operationally, Great Canadian Gaming Corporation will be suspending gaming operations at Elements Casino Brantford and racing operations at Flamboro Downs as of Sunday, Dec. 20, 2020, at 11:59 p.m. EST.
Live racing without spectators, with pari-mutuel wagering offered on those races via simulcast, had been conducted at Flamboro Downs since Sept. 3, 2020. Gaming operations at Elements Casino Flamboro (the same location as Flamboro Downs), were suspended on Nov. 15, 2020.