TORONTO, ON – OLG provides world class gaming entertainment to communities across Ontario, which includes casinos operated by diversified service providers.
One of OLG’s service providers, Great Canadian Gaming Corporation (Great Canadian), is considering a proposal to be acquired by funds managed by affiliates of Apollo Global Management, Inc. (Apollo).
Duncan Hannay, OLG President and CEO stated: “The proposed acquisition is expected to support significant investment and profitable growth of gaming operations at Great Canadian casinos in Ontario. This benefits OLG, the Province, and the communities that host 11 casinos operated by Great Canadian in Ontario. We look forward to our continuing work with the Great Canadian team to realize this potential.”
“Ontario actively supports job-creating investments in communities province-wide. OLG welcomes investment to the Province, and we look forward to working together with Great Canadian to grow the economic benefits the gaming sector brings to Ontario,” added Peter Deeb, OLG Chair.
Apollo has indicated their intention to ensure a safe reopening of casinos in Ontario and that Great Canadian will remain headquartered in Toronto, led by a Canadian management team and with Canadian board members.
The Province’s commercial interests in casinos are conducted and managed by OLG and are protected under contractual agreements. These contracts remain in place and are unaffected by the proposed acquisition. OLG’s contracts with service providers include certain change of control consent rights in favour of OLG.
Since taking over day-to-day operations of casinos in three gaming bundles, Great Canadian has invested millions of new capital in Ontario. Examples include new casinos in Belleville, Peterborough, and major developments underway in Pickering and Casino Woodbine.
Great Canadian casinos are located in three gaming bundles -- GTA (in partnership with Brookfield Asset Management Inc), West GTA and East – and include: Casino Woodbine, Great Blue Heron Casino, Casino Ajax, Shorelines Casino Peterborough, Shorelines Casino Belleville, Shorelines Slots at Kawartha Downs, Shorelines Casino Thousand Islands, Elements Casino Mohawk, Elements Casino Brantford, Elements Casino Flamboro and Elements Casino Grand River.
Apollo points to Great Canadian’s strong track record of corporate citizenship and community involvement, and indicates an intention to carry forward this legacy.
Questions about the details of the proposed acquisition should be directed to Great Canadian.
OLG is a crown agency that develops world-class gaming entertainment for the Province of Ontario. Acting in a socially responsible way, OLG conducts and manages land-based gaming facilities; the sale of province-wide lottery games; Internet gaming; and the delivery of bingo and other electronic gaming products at Charitable Gaming Centres. OLG is also helping to build a more sustainable horse racing industry in Ontario. Since 1975, OLG has provided approximately $55 billion to the people and Province of Ontario to support key government priorities like health care; the treatment and prevention of problem gambling; and support for amateur athletes. Each year proceeds from OLG’s operations also support host communities, Ontario First Nations, lottery retailers and local charities across the province.
All for Here – 100 per cent of OLG’s proceeds are invested in Ontario
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