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Great Canadian Gaming Corporation has been acquired by Apollo Global Management in a deal worth CAD $3.3 billion, based on a share price of CAD $39.
Great Canadian operates the Elements casino in View Royal. It has six casinos in Metro Vancouver, including River Rock Casino Resort in Richmond, Hard Rock Casino in Coquitlam, Elements in Surrey. Hard Rock Casino Vancouver tickets and upcoming 2020 event schedule. Find details for Hard Rock Casino Vancouver in Coquitlam, BC, including venue info and seating charts. Experience All of Hard Rock. And we're in it for the song, art, tastes and the authentically Hard Rock touch. Live inside the moment at a Hard Rock Hotel, Resort or All-Inclusive experience, where classic memorabilia sets the stage for a one-of-a-kind experience. Hard Rock Casino Vancouver. River Rock Casino Resort. Get $10 in Free Play when you join Casino BC's loyalty program. Birthday rewards. Affected casinos include the River Rock in Richmond, the Hard Rock in Coquitlam and, Hastings Racecourse in Vancouver A statement says the decision was made in conjunction with the BC Lottery and Gaming Corporation The company says no cases have been recorded among staff or guests.
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The company is the operator of over two dozen casino properties across four provinces, including nine properties within BC.
It also operates most casino properties in the Lower Mainland, including River Rock Casino, Hard Rock Casino Vancouver, Hastings Racecourse & Casino, Chances Maple Ridge, and Elements Casino locations in Surrey and Chilliwack.
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The acquisition price was a 59% premium to the 30-day volume-weighted average price as of November 9.
Following the conclusion of the deal, Great Canadian will remain headquartered in Toronto, led by a Canadian management team and board of directors.
Apollo, based in New York, states it has experience in investing in companies in highly regulated industries, including the casino business. The American investment firm intends to maintain Great Canadian’s current locations and expand its footprint over the medium- and longer-term.
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“Great Canadian is a leader in the gaming and entertainment industry and, based on our experience and knowledge of the space, we see opportunities to work with their talented team to drive additional growth and value,” said Alex van Hoek, partner at Apollo, in a statement.
“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.”
The casino operator has been battered by COVID-19 health safety closures across the enterprise, with no end in sight leading to the reopening of its properties. Within British Columbia, Great Canadian is also at the centre of a money laundering inquiry, specifically with its operations of the flagship River Rock Casino.
“We are pleased that this transaction represents a great opportunity for our shareholders, while continuing to support the success of the business longer term. 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,” said Rod Baker, the CEO of Great Canadian.
“In addition, 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.”
The acquisition requires not only the approval of shareholders but also various approvals by provincial and federal regulators and the Supreme Court of BC. The deal is expected to close in the second quarter of 2021.
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In conjunction with BCLC, Hard Rock Casino Vancouver has temporarily suspend all operations. To find out the status of your event(s), as well as more information regarding the cancellation and rescheduling of live events, go to https://www.ticketmaster.ca. We appreciate your understanding during this unprecedented situation.
A Message from The Management Team at Hard Rock Casino Vancouver
Any show theatre tickets that have been purchased for shows that have been postponed will be valid for the new dates.
Tickets can be refunded through Ticketmaster, please contact https://www.ticketmaster.ca/ for more information.
Any tickets purchased at our box office at the River Rock Casino Resort or Hard Rock Casino please contact rrcreservations@gcgaming.com for more information.
Thank-you for your patience as we work through these evolving times.
Entertainment Update
Steel Panther—Heavy Metal Rules Tour scheduled for September 11 and 12, 2020 is canceled.Tickets can be refunded through Ticketmaseter, please contact https://www.ticketmaster.ca/.
#IMOMSOHARD—Mom’s Night Out Round 2 scheduled for March 27 is now rescheduled to October 3, 2020. Refund available until April 3.
Australia’s Thunder From Down Under: Neon Nights Tour scheduled for April 25 has been cancelled. Refunds are available at the original point of purchase.
George Thorogood & The Destroyers Good to be Bad Tour—45 Years of Rock scheduled for April 17 and April 18 have been postponed. New show dates will be announced shortly. Refund available until April 20.