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Apollo to Buy Great Canadian Gaming in $2.5 Billion Deal

  • Apollo will pay C$39 a share for the Toronto-listed firm
  • Great Canadian operates 25 gaming, hospitality facilities
Key Speakers And Displays At The Global Gaming Expo Asia
Photographer: Paul Yeung/Bloomberg
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Great Canadian Gaming Corp. agreed to be acquired by Apollo Global Management Inc. in a deal valued at more than C$3.3 billion ($2.5 billion), the latest shift for the casino industry that’s been hit by the Covid-19 pandemic.

Apollo will pay C$39 a share for the Toronto-listed casino operator, Great Canadian Gaming said in a statement late Tuesday. That represents a 35% premium to the stock’s closing price of C$28.91. The transaction has been unanimously approved by Great Canadian’s board.