Apollo Global funds to buy Great Canadian Gaming for $1.66 billion

  • 11/11/2020
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(Reuters) - Great Canadian Gaming Corp GC.TO said on Tuesday that Apollo Global Management APO.N would acquire the company for about C$2.16 billion ($1.66 billion) through funds managed by its affiliates. Apollo Global’s offer of C$39 per share is at a premium of about 34.9% as of Tuesday’s close, with a total enterprise valuation of more than C$3.3 billion.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.

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