Veteran Gaming Executive to Lead Great
Canadian in Next Phase
TORONTO and NEW YORK, Sept. 22,
2021 /CNW/ - Apollo Global Management, Inc. (NYSE: APO)
(together with its consolidated subsidiaries, "Apollo") today
announced that an affiliate of certain funds it manages (the
"Apollo Funds") has completed its acquisition of Great Canadian
Gaming Corporation ("Great Canadian" or the "Company"). Seasoned
gaming executive Anthony "Tony"
Rodio has been named Chief Executive Officer of Great
Canadian, effective immediately, leading the Company from its
headquarters in Toronto, Ontario.
Rodio will also join the Board of Directors.
"Tony is one of the industry's most accomplished executives, and
we are confident that his experience leading businesses through
transformative periods of innovation and growth will help to take
Great Canadian to new heights," said Alex
van Hoek, Apollo Partner and
Chairman of the Board of Great Canadian. "We are excited to have
him at the helm and to support Great Canadian as the Company
continues to prioritize and enhance the experience of the guests,
team members and communities they serve."
Rodio has nearly 40 years' experience in the gaming industry and
was most recently CEO of Caesars Entertainment Corporation, where
he led the casino and entertainment company from April 2019 through its acquisition by Eldorado
Resorts in July 2020. Prior to that,
Rodio had served as the CEO of Affinity Gaming as well as President
and CEO of Tropicana Entertainment, where he led the company
through a period of significant, profitable growth driven by
operational enhancements and regional expansion. Previously, Rodio
held senior roles at Hollywood Casino and Harrah's
Entertainment.
"Great Canadian is an incredible gaming and entertainment
franchise and I'm excited to lead the Company as we continue to
safely welcome back team members and guests across the country,"
said Rodio. "Together with Apollo and my management team, we see
tremendous opportunity to build on Great Canadian's leading market
position, improving the guest experience and entering new channels
for growth, with a continuous focus on the importance of our
relationships with our Crown agencies and other key
stakeholders."
Terrance Doyle, who served as
Great Canadian's interim CEO, successfully leading the Company
through the COVID-19 shut down period and reopenings, will assume
the position of National President of Business Development,
reporting directly to the board of directors. Doyle will assist the
board and management on transition and business development
initiatives across the Company, including the completion of the GTA
development.
Pursuant to the terms of the merger agreement, an affiliate of
the Apollo Funds acquired all of the outstanding shares of Great
Canadian common stock. Great Canadian's shareholders are entitled
to receive C$45 in cash for each
share of GC common stock owned. As a result of the completion of
the merger, shares of Great Canadian's common stock no longer trade
on the Toronto Stock Exchange.
ABOUT GREAT CANADIAN GAMING CORPORATION
Founded in 1982, Great Canadian is an Ontario based company that operates 25 gaming,
entertainment and hospitality facilities in Ontario, British
Columbia, New Brunswick,
and Nova Scotia. Fundamental to
the Company's culture is its commitment to social responsibility.
"PROUD of our people, our business, our community" is Great
Canadian's brand that unifies the Company's community, volunteering
and social responsibility efforts. Under the PROUD program, Great
Canadian annually supports over 1,400 charitable and non-profit
organizations across Canada. In
each Canadian gaming jurisdiction, a significant portion of gross
gaming revenue from gaming facilities is retained by our Crown
partners on behalf of their provincial government for the purpose
of supporting programs like healthcare, education and social
services.
ABOUT APOLLO
Apollo is a high-growth, global alternative asset manager. We
seek to provide our clients excess return at every point along the
risk-reward spectrum from investment grade to private equity with a
focus on three business strategies: yield, hybrid and
opportunistic. Through our investment activity across our fully
integrated platform, we serve the retirement income and financial
return needs of our clients, and we offer innovative capital
solutions to businesses. Our patient, creative, knowledgeable
approach to investing aligns our clients, businesses we invest in,
our employees and the communities we impact, to expand opportunity
and achieve positive outcomes. As of June
30, 2021, Apollo had approximately $472 billion assets under management. To learn
more, please visit www.apollo.com.
SOURCE Great Canadian Gaming Corporation