Apollo Global Management and HPS Investment Partners to acquire Great Canadian Gaming for $2.8bn.

Apollo Global Management, an alternative investment manager, and HPS Investment Partners agreed to acquire Great Canadian Gaming, a company that operates a number of casinos in British Columbia and Canada, for $2.8bn. “Great Canadian is a leader in the gaming and entertainment industry and, based on our experience and knowledge of the space, we see opportunities to work with their talented team to drive additional growth and value. With an industry-leading portfolio of assets and established presence in the best geographic markets across Canada, we are excited to help bring an enhanced experience to more guests across Canada," Alex van Hoek, Apollo Partner. On December 14, 2020, Apollo considers increasing its $2.5bn offer, but also stated that it may walk away from the deal if it can’t win approval at an upcoming shareholder meeting. On December 17, 2020, Apollo's $2.5bn bid was publicly rejected by CI Financial, the largest shareholder of Great Canadian Gaming. On December 21, 2020, parties agreed to a $2.8bn offer. On December 23, 2020, Great Canadian Gaming's shareholders approved the deal.