As the group prepares to enter its “next phase,” an affiliate of funds managed by affiliates of Apollo Global Management has completed its acquisition of Great Canadian Gaming.
Raptor Acquisition has purchased all of the company’s issued and outstanding common shares at a price of C$45 per share.
Shares of Great Canadian common stock no longer trade on the Toronto Stock Exchange as a result of the merger’s completion.
CEO and member of board
In addition to the purchase, the company has named Anthony Rodio as its new chief executive officer, who will manage Great Canadian from its headquarters in Toronto, Ontario. Rodio will be a member of the board of directors as well.
Alex van Hoek, Apollo partner and Great Canadian board chair said: “Tony is one of the industry’s most accomplished executives, and we are confident that his experience leading businesses through transformative periods of innovation and growth will help to take Great Canadian to new heights.
“We are excited to have him at the helm and to support Great Canadian as the Company continues to prioritise and enhance the experience of the guests, team members and communities they serve.”
Rodio, who has nearly 40 years of experience in the gaming sector, was most recently the CEO of Caesars Entertainment, where he managed the casino and entertainment company from April 2019 until it was acquired by Eldorado Resorts in July 2020.
Previous prominent positions
He has held prominent positions at Hollywood Casino and Harrah’s Entertainment, as well as serving as CEO of Affinity Gaming and president and CEO of Tropicana Entertainment.
“Great Canadian is an incredible gaming and entertainment franchise and I’m excited to lead the company as we continue to safely welcome back team members and guests across the country,” added Rodio.
“Together with Apollo and my management team, we see tremendous opportunity to build on Great Canadian’s leading market position, improving the guest experience and entering new channels for growth, with a continuous focus on the importance of our relationships with our Crown agencies and other key stakeholders.”
Terrance Doyle, the interim CEO of Great Canadian, will take over as national president of business development, reporting directly to the board of directors.