Great Canadian Gaming announced on Tuesday, November 10, that Apollo Global Management would acquire the company for about CA$2.16 billion (US$1.66 billion) through funds managed by its affiliates, reported Bloomberg.
Founded in 1982, Great Canadian operates 25 gaming, entertainment and hospitality facilities in Ontario, British Columbia, New Brunswick, and Nova Scotia.
The deal, which is expected to close in the second quarter of 2021, has been approved unanimously by Great Canadian’s board, the Ontario-based company said in a statement.
Scotiabank is the lead financial adviser to Great Canadian, with CIBC World Markets serving as financial adviser to its special committee.
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