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Company that operates nine casinos in BC, defending its acceptance of a 3.3 billion dollar takeover by Apollo Global Management
BY , Nov 12, 2020 9:33 PM - REPORT AN ERRORThe company that operates nine casinos in BC, from Victoria, Nanaimo and Vancouver north to Dawson Creek, is defending its acceptance of a 3.3 billion dollar takeover by Apollo Global Management.
Great Canadian Gaming, which also has holdings in Ontario and parts of the Maritimes, says Apollo has agreed to pay 39 dollars per share for the company, an offer that's roughly 35 per cent above Great Canadian's recent value.
But many minority shareholders say they will vote against the deal, arguing it doesn't reflect the true value of the company, which some analysts have pegged as high as 1.1 billion dollars.
A shareholder meeting is set for next month.
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