reat Canadian Gaming Corporation has announced that Raptor Acquisition Corp., an affiliate of funds managed by affiliates of Apollo Global Management, Inc., has received approval under the Investment Canada Act for the acquisition of Great Canadian, pursuant to a previously announced plan of arrangement involving Great Canadian, the Purchaser and Company securityholders.
As announced on December 23, 2020 and December 30, 2020, respectively, the Arrangement has previously received approval of the Supreme Court of British Columbia and Securityholders, as well as clearance under the Competition Act (Canada).
The Arrangement remains subject to certain other closing conditions. It is expected to be completed in the second quarter of 2021.
Additionally, and further to the April 1, 2021 announcement from the Ontario provincial government mandating the suspension of operations for certain businesses in the province, including casinos, the Company suspended operations at Elements Casino Grand River and Shorelines Casino Belleville as of Friday, April 2, 2021 at 11:59 p.m. EST.
With the suspension of operations at Elements Casino Grand River and Shorelines Casino Belleville, the Company will have three of its 26 properties open which are operating under restricted conditions.
Below is an overview of the current status of the Company's properties:
Current Status of Operations