Great Canadian Gaming Corporation is ready to take on a new chapter of its existence and development as the company has now been acquired by Apollo Funds. In light of those events, the gaming conglomerate interim CEO Terrance Doyle will step down from the position, and he will be succeeded by Antony Rodio effective immediately.
The gaming company was established back in 1982, and it is currently headquartered in Ontario. The corporation owns and oversees gaming properties across Canada, with them situated in Ontario, B.C. New Brunswick, and Nova Scotia. Now, the company will be guided forward by Mr. Rodio, who has also taken a place on the board of directors.
New Chapter
Alex van Hoek, who serves as Apollo Partner and Chairman of the Board of Great Canadian Gaming Corporation welcomed Mr. Rodio aboard. The official said that the new CEO is one of the industry’s most renowned executives and that the company will benefit from his expertise and experience on its growth plan. Now, the corporation will continue to prioritize better experiences for guests, staff, and local communities.
Mr. Rodio has a rich resume of almost 40 years of experience in the gaming world, and his most recent role was as CEO of Caesars Entertainment Corporation. There, he led the company from April 2019 to its acquisition by Eldorado Resorts in July 2020. Before that, Mr. Rodio worked as CEO of Affinity Gaming and President and CEO of Tropicana Entertainment.
The new CEO of the company also commented on his appointment saying that the gaming conglomerate is an incredible gaming and entertainment brand. He also said that he is extremely excited to lead the company forward as it continues to bring team members and patrons back. He is optimistic that with the leading position of the firm the team can build on an even greater guest experience.
Mr. Doyle served as interim CEO of the company, by successfully guiding it through the impacts of the unprecedented situation when the company had to close down its properties due to health concerns. He will now take over the position of National President of Business Development, and he will report straight to the board of directors.
Finalization of Acquisition
At the start of September, Great Canadian Gaming Corporation provided an update on the acquisition by Apollo Funds. The company announced that it has received all regulatory approvals for the arrangement. Now, according to section 288 of the Business Corporation Act of B.C., the company’s shares will be acquired by Raptor Acquisition Corp. for the price of CA$45 in cash per stock. The acquisition has been finalized on September 23, 2021.
Property Reopening
Back in July, the gaming conglomerate was able to reopen its casino properties across Ontario, as health protocols were eased by the provincial government. The list of 11 properties includes Casino Woodbine, Great Blue Heron Casino, Casino Ajax, Elements Casino Mohawk, Elements Casino Flamboro, Elements Casino Brantford, Elements Casino Grand River, Shorelines Casino Belleville, Shorelines Casino Peterborough, Shorelines Casino Thousand Islands, and Shorelines Slots at Kawartha Downs are all operational now.
Source: “Apollo Funds Complete Acquisition of Great Canadian Gaming, Anthony Rodio Appointed CEO”, Cision, September 22, 2021
