Green Light For Apollo Takeover Of Great Canadian

Shareholders voted in favour of Apollo Global Management takeover of Great Canadian Gaming Corp for $1.9 billion following weeks of opposition towards the deal until the equity firm upped its offer by 15%.

A total of 79% of shareholder votes approved the deal which only two thirds of shareholders are needed to formalise the sale which is now expected to be finalised in the second quarter of this year.

Great Canadian Gaming was founded in 1982 and operates a total of 25 venues from gambling, entertainment and hospitality in Ontario, British Columbia, New Brunswick, and Nova Scotia.

Alex van Hoek, a partner at Apollo said: “Apollo recognizes the challenges the industry is facing and is “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.”