The Great Canadian Gaming Corporation recently made an important announcement about its future

Minority shareholders recently expressed their position regarding the acquisition of a C$2.1 billion casino operator by a U.S. private equity firm. Apollo Global Management Inc. is ready to take over the game leader.

I’m pinning myself on Canada’s gaming sector because I’ve seen one of the key players sign a final deal for a purchase. The casino operator will be acquired by Apollo Global Management, which strives to improve its gambling and hospitality potential. The acquisition will amount to approximately CA$2.1 billion of Great Canadian Gaming Common Stock.

Immediately after the decision was publicly announced, every detail around it was thoroughly reviewed. If the acquisition is supported by shareholders, casino operators may be on the verge of a completely new era of operations. That would mean Canada’s largest casino operator is owned by a U.S.-based private equity firm that further underpins growth.

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Some minority shareholders of Great Canadian Gaming quickly expressed their position on the final agreement announced. Bloombergson Investment Partners was among the shareholders who opposed the decision. The Toronto-based investment firm owns about 14% of the casino leader. It recently pointed out that the proposed payments from Apollo Global Management will not be profitable in the future.

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You may recall that the final settlement comes with a payment of CA$39 per share of Great Canadian Gaming shares. Minority shareholders pointed out that the amount would not reach true long-term value and would eventually hurt shareholders. Canadian investment firm likely to vote against casino operator’s acquisition. 카지노사이트 순위

backlash after the announcement
Other minority shareholders have also expressed their positions and plans for action on the subject. Madison Avenue Partners and Break Inlet Capital also own a stake in Great Canadian Gaming, pointing out that they would vote against the acquisition if they had the opportunity. In December 2020, a special shareholders’ meeting will be held to see votes on this topic.

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The information notice will include more information about the transaction and all Great Canadian Gaming shareholders will have the opportunity to look at it. Regulators will also get the opportunity to vote on a C$2.1 billion measure. Small investors also argued that casino operators should have looked for alternative acquisition offers made by other companies so that shareholders have the option to choose from.

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Apollo Global Management’s offer per share jumps 35% but minority shareholders expected more. Great Canadian Gaming CEO Rod Baker said independent directors did not consider alternative offers from potential investors ahead of this final agreement.

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