Industry Reports

Great Canadian Gaming Bags US$56M from American Casinos Sale

Great Canadian Gaming Corporation is among the leading casino operators in Canada on the constant pursuit of improvement. In a recent announcement, it became clear that the gaming company has committed to the sale of Great American Gaming Corporation and essentially making its exit from the United States gambling scene. The arrangement equates to US$56 million.

When it comes to gambling operation, companies have to be as flexible as possible and take risks with brave moves. Great Canadian Gaming has decided it would no longer be operating in the US which calls for a shares sale. Maverick Casinos was the casino developer which purchased Great American Gaming for some US$56 million, receiving the management of several leading casino locations in the region.

American Casino Venues Welcome New Management

Over the years, the American division of the Coquitlam-based corporation has overseen operation of several venues boasting as many as 600 employees. The subsidiary managed Great American Casino Everett, Great American Casino Lakewood, and Great American Casino Tukwila. Those were the sole gambling locations overseen by the company, transforming Washington with their riveting offerings.

It could be recalled that Great American Casino Des Moines launched operation on May 18, 2017, as the fourth location overseen by the American subsidiary company. However, the gambling venue closed for good, resulting in three operational facilities. The decision was a tough one for the casino operator, but nevertheless, it is important that Great Canadian Gaming focuses on its development in Canada, which is fast-paced at the moment.

Rod Baker, the Company’s Chief Executive Officer, stated that this year and the following ones would see many new projects that would need more attention and investment, as this is the core market. The proceeds of this deal would also boost future development in Canada. Washington State Gambling Commission gave its mandatory approval of the sale making it official.

Great Canadian Gaming Focuses on Ontario Development

Closing of the deal is expected to take place in the third quarter of this fiscal year, due to pending closing conditions. The casino operator oversees venues in British Columbia, Ontario, and Atlantic Canada, with signature venues to the likes of River Rock Casino Resort in Richmond, Hard Rock Casino Vancouver in Coquitlam, Hastings Racecourse in Vancouver, Casino Ajax, and one of the newest ones – Shorelines Casino Peterborough.

In this sense, the casino developer is already balancing many tasks and future projects. It could be recalled that this week saw the long-anticipated announcement that would see the gaming developer continue operation at Casino Ajax. This was an important decision for the Ajax – Pickering dispute regarding casino revenue operation and mandatory casino revenue allocations to the host communities.

The rivalry between Casino Ajax and the future Durham Live would be fair. Great Canadian Gaming Corporation received the rights to operate the Greater Toronto Area gaming bundle of casino locations. This includes Casino Woodbine, Great Blue Heron Casino, and Casino Ajax previously overseen by Ontario Lottery and Gaming Corporation. This modernization process aims to elevate the player experience and bring a breath of fresh air to the local casino field.