Apollo Global Management purchase of Great Canadian Gaming Corporation includes Georgian Downs in Innisfil

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Great Canadian Gaming Corporation, which operates Georgian Downs racetrack in Innisfil, has been bought by a U.S private-equity firm.

Under the agreement, which was announced Nov. 10, Apollo Global Management will acquire Great Canadian Gaming Corporation’s stock at $39 a share, valuing the deal at $3.3 billion.

Great Canadian Gaming shares closed at $28.91 on the Toronto Stock Exchange on Nov. 11. The company operates 25 properties across Ontario, British Columbia, Nova Scotia and New Brunswick.

The board of directors unanimously approved the transaction and recommended that shareholders vote in favour of the sale at a meeting that will held in December.

Shane MacDonald, Local Journalism Initiative Reporter, Barrie Advance