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APOLLO GLOBAL MANAGEMENT, INC.

(APO)
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Apollo Global Management : Funds Complete Acquisition of Great Canadian Gaming, Anthony Rodio Appointed CEO

09/22/2021 | 11:55am EST

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

© Canada Newswire, source Canada Newswire English

Stocks mentioned in the article
ChangeLast1st jan.
APOLLO GLOBAL MANAGEMENT, INC. 0.00% 70.99 Delayed Quote.43.14%
GREAT CANADIAN GAMING CORPORATION 0.00% 44.98 End-of-day quote.3.45%
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Financials (USD)
Sales 2021 2 178 M - -
Net income 2021 - - -
Net Debt 2021 4 153 M - -
P/E ratio 2021 -
Yield 2021 2,75%
Capitalization 17 298 M 17 298 M -
EV / Sales 2021 9,85x
EV / Sales 2022 8,64x
Nbr of Employees 2 035
Free-Float 90,6%
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Number of Analysts 12
Last Close Price 70,15 $
Average target price 87,56 $
Spread / Average Target 24,8%
Managers and Directors
Marc Jeffrey Rowan Chief Executive Officer & Director
Scott Martin Kleinman Co-President & Director
James Charles Zelter Co-President & Director
Martin Kelly Co-Chief Operating Officer & CFO
Walter Clayton Non-Executive Chairman
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