Media Briefing by Great Canadian Gaming Corporation
The Great Canadian Gaming Corporation briefed the media regarding its deal with the Raptor Acquisition Corporation.
On 5 April, the Great Canadian Gaming Corporation (GCGC) issued an update on its previously negotiated deal with the Raptor Acquisition Corporation. The latest briefing revealed that the agreement received the go-ahead from Investment Canada, which would permit the acquisition.
GCGC was formed in 1982 and has since grown to become one of Canada’s most prominent casino regulators. The corporation oversees 26 casino venues in Nova Scotia, New Brunswick, British Columbia and Ontario. The funds generated by the corporation are used to support charitable organisations and businesses in the province.
The Authorised Arrangement
Apollo Global Management heads the Raptor Acquisition Corporation. The acquisition is being authorised in line with the Investment Canada Act, with details regarding the arrangement to be finalised in the second quarter of 2021.
On 23 December 2020, the Supreme Court of British Columbia gave its nod to the merger, with both companies’ shareholders greenlighting the arrangements on 30 December 2020.