Industry Reports

Great Canadian Gaming Appoints Directors ahead of Gaming Expansion

Great Canadian Gaming Corporation is planning busy following months focusing its attention on its Canadian operations. This week was eyed as a special one, as the annual general and special meeting of shareholders was scheduled to take place and shed light on many crucial points. It was announced that the individuals previously nominated for directors were elected without the help of a ballot.

The casino operator is among the leading ones in Canada. Until recently it had a subsidiary in the US called Great American Gaming Corporation, but a focus shift was needed. Now the casino developer would have to focus the attention to its Canadian projects. In this sense, everyone directly interested in its future development eagerly anticipated the annual meeting of shareholders.

Seven Directors Elected

Seven new directors are going to take their new seats within the structure of the casino operator. Those are Peter G. Meredith, Rod N. Baker, Larry W. Campbell, Mark A. Davis, Thomas W. Gaffney, Christopher W. Hart, and Karen A. Keilty. Many of them were elected with more than 95-percent support. Great Canadian Gaming anticipated votes prior to the official meeting that eventually decided the individuals’ fate.

In addition to the directors’ election, the meeting was also positive in the sense that it established that the number of directors should be a total of seven. Those are the aforementioned proposed individuals worthy of the responsibilities. The meeting also saw conversation regarding the potential auditor of Great Canadian Gaming and Deloitte LLP is going to take care of the subject in the upcoming fiscal year.

Directors would be expected to make some adjustments to their payment. This week was important in more than one way since the meeting gave green light to an advisory vote on executive compensation crucial at the moment. Individuals were appointed their tasks for the upcoming year of operation across board committees to the likes of audit, corporate governance, compensation, as well as corporate compliance and security.

Durham Live and Casino Ajax Attract Attention

The casino operator oversees as many as 28 gambling facilities across Ontario, British Columbia, New Brunswick, and Nova Scotia. It could be recalled that the period that ended December 31, 2018, managed to exceed expectations with its fiscal performance. The fourth quarter saw a revenue surge reaching 126 percent for that quarter only.

This meant that CA$342 million was amassed over the said three months of operation. In the meantime, the full-year performance saw a 99-percent jump. This meant that the revenue managed to surpass the CA$1,221-million threshold. The following months of operation would mean more efforts put into Great Canadian Gaming’s expansion across Ontario. It could be recalled that exactly a year ago, in May 2018, the company partnered with Clairvest Group Inc.

As a result, the West Greater Toronto Area Bundle is now overseen by the casino operator. This resulted in the rebranding of existing slot locations to Elements Casino Brantford, Elements Casino Flamboro, Elements Casino Grand River, and Elements Casino Mohawk. The operator is also working on the future Durham Live entertainment complex in Pickering which would work in unison with existing neighboring Casino Ajax.