Casino Acquisitions
Great Canadian Gaming Corp., which owns River Rock Casino & Resort in Richmond, has been approved for sale to a global investment firm, Apollo Global Management.
- PROVIDENCE – Bally’s Corp. Has completed its acquisition of Eldorado Resort Casino Shreveport, in Louisiana, from Caesars Entertainment Inc. For $140 million, the company announced on Wednesday. Bally’s, formerly known as Twin River Worldwide Holdings, owns and operates Rhode Island’s two casino hotel properties, among nine other casino properties around the United States.
- Toll Number: 816-855-7777. 1800 East Front Street Kansas City, MO 64120.
Antitrust analysis of casino mergers and acquisitions: What executives and in-house counsel need to know Steven A. TennAntitrust & Competition While the gaming industry is familiar with the regulatory scrutiny that often follows mergers and acquisitions, antitrust reviews may be more of a mystery.
The B.C. Supreme Court approved the plan for Raptor Acquisition Corp., an affiliate of Apollo, to acquire the company’s shares for $45 (Canadian) a piece.
The original announcement in November listed the share price at $39 and estimated the total value of the company at $3.3 billion.
Following regulatory approvals, it’s expected the deal will close in the second quarter of 2021.
River Rock Casino, along with other casinos in B.C., has been closed since mid-March because of the COVID-19 pandemic.
The City of Richmond, which gets 10 per cent of net revenues from River Rock, received almost $12 million less in revenue than it originally budgeted because of the closure. The city received about $2.7 million in revenue while it originally anticipated about $14.5 million.
Once the deal is closed, the Great Canadian shares will be delisted from the Toronto Stock Exchange.
As of Sept. 30, Apollo had globally held assets in the U.S., Europe and Asia worth about $433 billion.
According to a press release in November from Great Canadian, the casino group will keep its headquarters in Toronto and will still have a Canadian board of directors.
The news release also states that Apollo has “extensive experience in the gaming sector” and its affiliates own companies in industries like gaming, healthcare, chemicals and aerospace.
Bally’s Corporation currently owns and manages 11 casinos across seven states, a horse racetrack, and 13 authorized OTB licenses in Colorado. With more than 5,400 employees, the Company’s operations include 11,859 slot machines, 405 game tables and 2,538 hotel rooms. Properties include Twin River Casino Hotel (Lincoln, RI), Tiverton Casino Hotel (Tiverton, RI), Hard Rock Hotel & Casino (Biloxi, MS), Casino Vicksburg (Vicksburg, MS), Eldorado Shreveport Resort and Casino (Shreveport, LA), Dover Downs Hotel & Casino (Dover, DE), Bally’s Atlantic City (Atlantic City, NJ), Casino KC (Kansas City, MO), Golden Gates Casino (Black Hawk, CO), Golden Gulch Casino (Black Hawk, CO), Mardi Gras Casino (Black Hawk, CO), and Arapahoe Park racetrack (Aurora, CO). Following the completion of pending acquisitions, which include Tropicana Evansville (Evansville, IN), Jumer’s Casino & Hotel (Rock Island, IL), and MontBleu Resort Casino & Spa (Lake Tahoe, NV), the Company will own and manage 14 casinos across 10 states. Its shares trade on the New York Stock Exchange under the ticker symbol “BALY.”
Bally’s Corporation currently owns and manages 11 casinos across seven states, a horse racetrack, and 13 authorized OTB licenses in Colorado. With more than 5,400 employees, the Company’s operations include 11,859 slot machines, 405 game tables and 2,538 hotel rooms. Properties include Twin River Casino Hotel (Lincoln, RI), Tiverton Casino Hotel (Tiverton, RI), Hard Rock Hotel & Casino (Biloxi, MS), Casino Vicksburg (Vicksburg, MS), Eldorado Shreveport Resort and Casino (Shreveport, LA), Dover Downs Hotel & Casino (Dover, DE), Bally’s Atlantic City (Atlantic City, NJ), Casino KC (Kansas City, MO), Golden Gates Casino (Black Hawk, CO), Golden Gulch Casino (Black Hawk, CO), Mardi Gras Casino (Black Hawk, CO), and Arapahoe Park racetrack (Aurora, CO). Following the completion of pending acquisitions, which include Tropicana Evansville (Evansville, IN), Jumer’s Casino & Hotel (Rock Island, IL), and MontBleu Resort Casino & Spa (Lake Tahoe, NV), the Company will own and manage 14 casinos across 10 states. Its shares trade on the New York Stock Exchange under the ticker symbol “BALY.”
Strong Operating Performance. Highly Experienced Management Team.
Oversee High-End Gaming Properties. Access to Capital. Strategic Vision.
Strong Operating Performance.
Highly Experienced Management Team.
Oversee High-End Gaming Properties.
Access to Capital. Strategic Vision.
George Papanier
President & Chief Executive Officer
Steve Capp
Executive Vice President & Chief Financial Officer
Marc Crisafulli
Executive Vice President, Strategy and Operations, & President, Rhode Island Operations
Craig Eaton
Executive Vice President, General Counsel & Secretary
Phil Juliano
Executive Vice President & Chief Marketing Officer
Rob Weir
Chief Information Officer
Jay Minas
Vice President of Finance
Danville Casino Acquisitions Llc
Maria Johnson
Vice President of Human Resources
Recent Casino Acquisitions
Joseph McGrail
Danville Casino Acquisitions Llc
Vice President of Finance, Chief Accounting Officer