The Canadian government’s Investment Canada has approved the purchase of Great Canadian Gaming Corp. by the U.S. fund Apollo Global Management Inc.
The investment fund is paying $45 per share for the company. Seventy-nine percent of shareholders voted to approve of the deal in December. The long involved process of a U.S. company acquiring a Canadian company included an approval late last year by the Supreme Court of British Columbia and determination of legality under the Competition Act.
The purchase is expected to be completed by the second quarter of this year.
Great Canadian operates 26 casinos. Currently three of them are open due to Covid restrictions.
