RICHMOND, BC, Oct. 1, 2015 /CNW/ - Great Canadian Gaming Corporation [TSX:GC] ("Great Canadian" or "the Company") announced today that it has completed its acquisition of the assets and undertaking of Casino New Brunswick from Sonco Gaming New Brunswick Limited Partnership, whose general partner is Sonco Gaming New Brunswick Limited, for $95 million plus customary working capital adjustment, on October 1, 2015, as previously described in the Company's press releases on May 12, 2015 and September 23, 2015.
The acquisition, which is being funded by existing cash balances, includes ownership and operation of Casino New Brunswick's existing casino, hotel and multi-use entertainment and convention centre.
"We are excited to work with the New Brunswick Lotteries and Gaming Corporation, the Department of Public Safety, Gaming Control Branch, and the City of Moncton. We are also very happy to welcome the more than 400 employees of Casino New Brunswick to our team here at Great Canadian," stated Rod N. Baker, the Company's President and Chief Executive Officer.
ABOUT GREAT CANADIAN GAMING CORPORATION
Great Canadian Gaming Corporation operates gaming, entertainment and hospitality facilities in British Columbia, Ontario, New Brunswick, Nova Scotia, and Washington State. The Company's 17 gaming properties consist of three community gaming centres, four racetracks (two with casinos operated by the Company and two with casinos operated by the Ontario Lottery and Gaming Corporation), and ten casinos, including two Four Diamond resort hotels. Further information is available on the Company's website, www.gcgaming.com.
ON BEHALF OF
GREAT CANADIAN GAMING CORPORATION
"Original Signed By Rod N. Baker"
Rod N. Baker
President and Chief Executive Officer
SOURCE Great Canadian Gaming Corporation
For further information: For enquiries: Email: [email protected] or Ms. Tanya Ruskowski, Executive Assistant to the President & CEO and the CFO, (604) 303-1000; For media enquiries: Mr. Chuck Keeling, Vice-President, Stakeholder Relations and Responsible Gaming, (604) 247-4197