American alternative investments firm Apollo Global Management Incorporated has announced that it has completed its previously-disclosed acquisition of land-based casino operator Great Canadian Gaming Corporation.
The New York-headquartered entity used an official Wednesday press release to detail that the $2.5 billion arrangement has seen it buy all of Great Canadian Gaming Corporation’s outstanding shares and de-list the operator from the Toronto Stock Exchange. The asset giant moreover explained that the purchase means that it now has control over a 25-strong portfolio of casinos located across the Canadian provinces of Ontario, Nova Scotia, British Columbia and New Brunswick.
Apollo Global Management Incorporated also used the filing to declare that it has named ‘seasoned gaming executive’ Anthony ‘Tony’ Rodio (pictured) to lead its latest procurement. The company divulged that the new Chief Executive Officer for Great Canadian Gaming Corporation has almost 40 years of industry experience and was most recently in charge of Caesars Entertainment Corporation until that company’s merger with smaller compatriot Eldorado Resorts Incorporated in July of last year.
Alex Van Hoek serves as the Chairman for Apollo Global Management Incorporated and he pronounced that Rodio furthermore held executive posts with American casino operators Affinity Gaming and Tropicana Entertainment as well as ‘senior roles’ with Penn National Gaming Incorporated and Harrah’s Entertainment. The financier stated that the 62-year-old has consistently been a member of teams that have helped to inaugurate periods of ‘significant profitable growth’ often induced ‘by operational enhancements and regional expansion.’
Read a statement from Van Hoek…
“Tony is one of the industry’s most accomplished executives and we are confident that his experience leading businesses through transformative periods of innovation and growth will help to take Great Canadian Gaming Corporation to new heights. We are excited to have him at the helm and to support Great Canadian Gaming Corporation as the company continues to prioritize and enhance the experience of the guests, team members and communities they serve.”
For his part and Rodio described Great Canadian Gaming Corporation as ‘an incredible gaming and entertainment franchise’ that will now be looking ‘to safely welcome back team members and guests across the country’ following the disruption of last year’s coronavirus pandemic. He additionally clarified that his interim predecessor, Terrance Doyle, is to be installed as the Vancouver-headquartered casino operator’s National Business Development President with responsibility over a number of ‘transition and business development initiatives’ including the completion of the greater Toronto area gaming bundle.
Rodio’s statement read…
“Together with Apollo Global Management Incorporated and my management team, we see tremendous opportunity to build on Great Canadian Gaming Corporation’s leading market position, improving the guest experience and entering new channels for growth with a continuous focus on the importance of our relationships with our Crown agencies and other key stakeholders.”