Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”) announced on Wednesday, Sept. 22 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, Ont. 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.
(Great Canadian Gaming Corp.)