A day after the company documented dropping third quarter financials due to COVID-19 imposed closures, Great Canadian Gaming Corporation announced the continued temporary government mandated suspension of operations at its Casino Woodbine site.
The operator announced that Casino Woodbine would no longer reopen on 14 November 2020 as a result of an announcement by the City of Toronto on 10 November that some enterprises, including casinos, would be forced to remain closed as part of an attempt to prevent the area from spreading COVID-19.
It was previously announced that the property would re-open on 14 November, following the second suspension of operations on 9 October 2020. The casino operations at the company’s other ten Ontario properties are not affected by the recent announcement, and will remain open.
Offering an update on its activities, the firm stated: “Great Canadian is committed to providing a safe environment for both its guests and team members and introduced significant health and safety protocols as part of the reopening of the company’s properties in Ontario and New Brunswick on September 28, 2020, followed by its properties in Nova Scotia on October 5, 2020.
“Great Canadian will continue to support the efforts of provincial and regional governments, public health authorities and crown partners in preventing the spread of COVID-19. Details regarding the reopening of Casino Woodbine will be announced at a later date.”
Great Canadian documented an imminent acquisition of funds operated by Apollo Global Management affiliates earlier this week in a deal that would see the firm buy all the outstanding common stock shares for C$39.00 per share, in a transaction with a total company value reaching C$3.3 billion.
Great Canadian, headed by a Canadian management team and with Canadian board members, will remain headquartered in Toronto following the completion of the deal. Upon completion, Apollo also expects that some Canadian institutions will co-invest in the transaction in order to become owners of the company’s equity.