Great Canadian Gaming Acquisition Faces Criticism
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Great Canadian Gaming Corporation recently made an important announcement regarding its future. Minority shareholders recently voiced their position when it comes to the CA$2.1-billion acquisition of the casino operator by a U.S. private equity firm.
Bloombergsen Investment Partners is one of the minority shareholders of Great Canadian Gaming. It is opposed to the acquisition of casino operator by Apollo Global Management. The Canadian investment firm owns about 14 percent of this company's equity. The definitive agreement comes with the payment of CA$39 per every Great Canada Gaming share.
Great Canadian Gaming's acquisition by Apollo Global Management is being criticized by minority shareholders. The special meeting of shareholders will take place in December 2020. Regulators will also get the chance to cast their vote on the CA$2.1-billion deal. Chief Executive Officer Rod Baker supports the deal and says it's a step in the right direction for the casino leader.
