Great Canadian Gaming Corp.’s proposed acquisition by a fund affiliated with Apollo Global Management Inc. has moved a step closer to completion following approval by Investment Canada. Great Canadian Gaming Corp. agreed to be acquired by Apollo Global Management Inc. in a deal valued at more than $3.3 billion, the latest shift for the casino industry that’s been hit by the COVID-19 pandemic. SIGMA Europe, which will be based... Apollo Global Management acquires Great Canadian Gaming, court approved the acquisition of Great Canadian Gaming, Due to COVID-19 restrictions, out of the 26 gaming outlets operated by Great Canadian, only two of these. Recent gaming investments include the pending acquisition of Great Canadian, Canada's leading gaming and entertainment provider, the acquisition of … 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.”, Van Hoek added: “We also recognize the challenges of the current circumstances and are committed to working with the management team, regulators and health authorities to allow the Company to reopen its properties as soon as it’s safe to do so. Apollo is a responsible sponsor and has a long track record of success investing in companies in highly regulated industries, as well as Canada-based companies. Fundamental to the Company’s culture is its commitment to social responsibility. In each Canadian gaming jurisdiction, a significant portion of gross gaming revenue from gaming facilities is retained by our Crown partners on behalf of their provincial government for the purpose of supporting programs like healthcare, education and social services. The transaction is expected to close in the second quarter of 2021. Under the PROUD program, Great Canadian annually supports over 1,400 charitable and non-profit organizations across Canada. We’re excited for the Company to welcome Great Canadian team members back to work, and we look forward to a time when employment and operations return to pre-COVID levels. 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. Great Canadian Gaming Corporation this week announced that it has entered into a definitive agreement to be acquired by funds (the “Apollo Funds”) managed by affiliates of Apollo Global Management. Apollo is a leading global alternative investment manager with offices in New York, Los Angeles, San Diego, Houston, Bethesda, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong, Shanghai and Tokyo. Fraser Valley/Toronto – Even though the doors have been closed for a year, under the pandemic, business still goes on. Late last year, the buyout firm announced the acquisition of Canadian casino giant Great Canadian Gaming Corporation for $2.63 billion. Great Canadian Gaming Corporation (TSX: GC) announced that it has entered into an amended arrangement agreement under which the Apollo Funds will acquire all the outstanding Great Canadian … Great Canadian Gaming Corporation confirmed on Tuesday that its board of directors have voted unanimously in favour of the company being acquired by Apollo Global Management Inc. Apollo will according to the terms of the agreement, acquire the Canadian gaming powerhouse by means of funds managed by the company’s affiliates, and at a rate of CA$39 per outstanding share acquired. The … With more than 50 percent of the shareholders approving the deal, Apollo Global is now set to acquire Great Canadian Gaming … Apollo Announces First Quarter 2021 Financial Results. Following close of the transaction, Great Canadian will remain headquartered in Toronto, led by a Canadian management team and with Canadian board members. The forward-looking information contained herein is made as of the date hereof, is subject to change after such date, and is expressly qualified in its entirety by cautionary statements in this press release. The Board of Directors of Great Canadian also unanimously resolved to recommend that shareholders vote in favour of the transaction at the special meeting of shareholders that will be called to approve the transaction, which is expected to be held in December 2020. Deutsche Bank Securities and Barclays also acted as financial advisors to Apollo. The transaction is structured as an arrangement under the Business Corporations Act (British Columbia). Apollo had assets under management of approximately $433 billion as of September 30, 2020 in credit, private equity and real assets funds invested across a core group of nine industries where Apollo has considerable knowledge and resources. S.G. Worldwide Media Company Ltd - 415670 - Pindou 4, 2409, Egkomi, Nicosia, Cyprus. Factoring in our long-term prospects, this transaction will unlock value for our shareholders at a significant premium to our current share price,” stated Rod Baker, the Company’s Chief Executive Officer. Apollo Global’s planned acquisition of Great Canadian Gaming Corporation has received shareholder approval after the latter increased its offer by 15 percent. Under the terms of the agreement, Apollo Funds will acquire all the outstanding shares of Great Canadian common stock for C$39.00 per share in a transaction with a total enterprise valuation exceeding … Under the terms of the agreement, Apollo Funds will acquire all the outstanding shares of Great Canadian common stock for C$39.00 per share in a transaction with a total … Following the UK's December 2020 release of the Pfizer BioNTech vaccine, SIGMA Group will move its  April  event to November. Under the terms of the agreement, Apollo Funds will acquire all the outstanding shares of Great Canadian common stock for C$39.00 per share in a transaction with a total enterprise valuation exceeding C$3.3 billion. The Company and the Special Committee of the Board of Directors received fairness opinions from Scotiabank and CIBC World Markets Inc., respectively, which subject to the assumptions, qualifications and limitations therein that, as of the date of each such opinion, the consideration to be received pursuant to the definitive agreement, is fair, from a financial point of view, to the Great Canadian shareholders. Apollo-backed Gamenet last December scooped IGT’s Italian B2C business in a $1.2 billion cash deal. Apollo Global Management Inc. won shareholder approval for its US$1.9-billion takeover of Great Canadian Gaming Corp., sealing a deal that had faced stiff opposition until the private equity firm increased its bid by 15 per cent. The Supreme Court of … Great Canadian Gaming Corporation has entered into a definitive agreement to be acquired by funds managed by affiliates of Apollo Global Management Inc.Under the terms of the agreement, Apollo Funds will acquire all the outstanding shares of Great Canadian common stock for C$39 per share in a transaction with a total enterprise valuation exceeding C$3.3bn. The transaction is not subject to a financing condition. Apollo Acquires Great Canadian Gaming Corp. Apollo confirmed that it has gone ahead and acquired Great Canadian Gaming Corp in a deal reported to be around $2.5 billion. “The Board of Directors, based on a recommendation from the special committee of independent directors, has unanimously concluded that this transaction represents the best course of action for the Company. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's and Apollo’s control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. For more information about Apollo, please visit www.apollo.com. Each startup will have a small booth at SiGMA surrounded by top investors and mentors. Further details regarding the terms of the transaction are set out in the arrangement agreement, which will be publicly filed by Great Canadian under its profile at www.sedar.com. TORONTO, Nov. 10, 2020 (GLOBE NEWSWIRE) -- Great Canadian Gaming Corporation (TSX:GC) (“Great Canadian” or the “Company”) today announced that it has entered into a definitive agreement to be acquired by funds (the “Apollo Funds”) managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”). The U.S. buyer received approval under the Investment Canada Act for the Raptor Acquisition Corp. investment fund’s $45-per-share takeover offer. TORONTO — Great Canadian Gaming Corp.'s deal to be acquired by a fund affiliated with Apollo Global Management Inc. has been granted court approval. TORONTO, Nov. 10, 2020 (GLOBE NEWSWIRE) -- Great Canadian Gaming Corporation (TSX:GC) (“Great Canadian” or the “Company”) today announced that it has entered into a definitive agreement to be acquired by funds (the “Apollo Funds”) managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”). CAUTIONARY NOTES REGARDING FORWARD-LOOKING STATEMENTSThis news release may contain forward-looking information within the meaning of applicable securities legislation. The decision was made shortly after 79% of. Further information regarding the transaction will be included in an information circular to be mailed to Great Canadian shareholders. “PROUD of our people, our business, our community” is Great Canadian’s brand that unifies the Company’s community, volunteering and social responsibility efforts. Apollo recognizes Great Canadian’s strong track record of corporate citizenship and community involvement and will continue this legacy. Apollo will pay $39 a share for the Toronto-listed casino operator, Great Canadian Gaming said in a statement late Tuesday. Apollo also anticipates that certain Canadian institutions may co-invest in the transaction to become equity owners in the Company alongside the Apollo Funds upon completion of the acquisition. Apollo will pay $39 per share for acquisition of the company. Apollo Global offers CAD$3.3bn to acquire Great Canadian Gaming Corp 12th November 2020 2:29 pm GMT US investment fund Apollo Global Management has entered into a definitive agreement to acquire Toronto-listed land-based casino operator Great Canadian Gaming Corp. in a deal worth CAD$3.3bn. Apollo has been increasingly active in the gambling sector in recent months, ... the investment body behind the pan-European lottery and gaming giant, and also agreed to acquire land-based operator Great Canadian Gaming Corporation for over CAD$3.3bn. TORONTO — Great Canadian Gaming Corp.'s deal to be acquired by a fund affiliated with Apollo Global Management Inc. has been granted court approval. outlets are currently open and running for business. A month earlier, the US private equity company also invested €500 million in Czech lottery operator SAZKA … The news was announced after the Canadian court approved the acquisition of Great Canadian Gaming Corp. by Apollo Global Management Inc. Due to COVID-19 restrictions, out of the 26 gaming outlets operated by Great Canadian, only two of these outlets are currently open and running for business. Apollo’s legal advisors were Akin Gump Strauss Hauer & Feld LLP, Paul, Weiss, Rifkind, Wharton & Garrison LLP, and Osler, Hoskin & Harcourt LLP. The transaction will be subject to a number of closing conditions, including customary provincial and federal regulatory approvals (including under the Investment Canada Act and the Competition Act (Canada)), the receipt of necessary shareholder approvals, the receipt of the necessary approvals from the Supreme Court of British Columbia, and the Company maintaining its credit facilities. Overwhelming Majority Vote During a special shareholder meeting 79% … Scotiabank is serving as lead financial advisor to the Company and CIBC World Markets Inc. is serving as financial advisor to the Special Committee. Apollo intends to help drive additional, incremental growth through initiatives such as expansion of non-gaming facilities, expanded loyalty and marketing programs, and gaming improvements that leverage the scale of the firm’s platform. Tanya RuskowskiExecutive Assistant to the Chief Executive Officer and the President, Strategic Growth & Chief Compliance Officer(604) 303-1000, Mr. Chuck KeelingExecutive Vice President, Stakeholder Relations & Responsible Gaming (778) 874-4942ckeeling@gcgaming.com, Peter MintzbergHead of Investor RelationsApollo Global Management, Inc.212-822-0528pmintzberg@apollo.com, Ann DaiInvestor Relations ManagerApollo Global Management, Inc.(212) 822-0678adai@apollo.com, Joanna RoseGlobal Head of Corporate CommunicationsApollo Global Management, Inc.(212) 822-0491jrose@apollo.com, Kieran LawlerCrestview Strategykieran.lawler@crestviewstrategy.com(416)-303-0799, Morgan CatesCrestview Strategymorgan.cates@crestviewstrategy.com(647)-999-3024, Apollo Investment Corporation (NASDAQ: AINV), Apollo Commercial Real Estate Finance, Inc. (NYSE: ARI), Senior Floating Rate Fund Inc. (NYSE: AFT). 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. Apollo is committed to maintaining the Company’s current operational footprint and anticipates Great Canadian’s properties will increase under the Apollo Funds’ ownership. Great Canadian Gaming Corporation today announced that it has entered into a definitive agreement to be acquired by funds managed by affiliates of Apollo Global Management, Inc. TORONTO — Great Canadian Gaming Corp.’s deal to be acquired by a fund affiliated with Apollo Global Management Inc. has been granted … Great Canadian Gaming Corp, an operator of 25 gaming, entertainment and hospitality facilities, has agreed to be acquired by Apollo Global Management. Private equity firm Apollo Global Management has acquired Great Canadian Gaming Corp. in a $2.5bn deal. Macquarie Capital acted as lead financial advisor to Apollo on the transaction. View Results. The Great Canadian Gaming Corporation (TSX:GC) announced that Raptor Acquisition Corp., an affiliate of funds managed by affiliates of Apollo Global Management, Inc. (NYSE:APO), has received approval under the Investment Canada Act for the acquisition of Great Canadian. Apollo will pay $39 a share for the Toronto-listed casino operator, Great Canadian Gaming said in a statement late Tuesday. Under the deal, Apollo will purchase all of the outstanding shares of Great Canadian’s common stock for CAD$39.00 per share, using funds managed by affiliates. Following a very successful run, the 5th edition of SiGMA Pitch is back for Spring 2021. Crestview Strategy is serving as Canadian public affairs and government relations advisors. The Supreme Court of British Columbia blessed the deal after Great Canadian shareholders voted in … These risks and uncertainties include, but are not limited to, impact of global liquidity and credit availability and liquidity and market risks associated with our financial instruments; interest and exchange rate fluctuations; fluctuations in operating results; economic uncertainty and financial market volatility; outbreaks of epidemics or pandemics and the response of governments to actual and potential epidemics or pandemics, including the current outbreak of COVID-19. The transaction has been approved unanimously by the Board of Directors of Great Canadian, which determined that the transaction is fair from a financial point of view to shareholders and is in the best interests of the Company.
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