Apollo to acquire Great Canadian Gaming Corp. in $2.5bn deal

Private equity firm Apollo Global Management has acquired Great Canadian Gaming Corp. in a $2.5bn deal.

Apollo will pay $39 per share for acquisition of the company. 

GCGC operates 25 casinos across Ontario, British Columbia, New Brunswick and Nova Scotia. 

Ron Baker, CEO of GCGC, said, “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.” 

GCGC reported an 87% revenue decline for Q3. 

For Apollo, the acquisition serves as a chance to up its ante in the gaming industry after missing out on a deal to purchase William Hill. 

Ezra Amacher

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