COQUITLAM, BC, Nov. 17, 2016 /CNW/ - Great Canadian Gaming Corporation [TSX:GC] ("the Corporation") announces today that Neil W. Baker (the "Insider") has entered into a secondary offering with Canaccord Genuity Group Inc. ("Genuity") whereby the Insider has agreed to sell 6 million common shares of the Corporation and, in addition, grant Genuity an option to increase the secondary offering by an additional 2 million common shares all at a price of $23.25 per common share. Prior to the transaction the Insider owned or controlled 10,943,600 common shares representing approximately 18% of the Corporation's issued and outstanding shares. Following the transaction and presuming the exercise of the additional option, the Insider will own or control approximately 4.8% of the Corporation's issued and outstanding common shares.
ABOUT GREAT CANADIAN GAMING CORPORATION
Great Canadian Gaming Corporation is a Canadian based company that operates gaming, entertainment and hospitality facilities in British Columbia, Ontario, New Brunswick, Nova Scotia, and Washington State. The Company has 20 gaming properties, which consist of twelve casinos, including a four Diamond resort hotel in Richmond, British Columbia and a four star hotel in Moncton, New Brunswick, four horse racetrack casinos, three community gaming centres and one commercial bingo hall. A key element of Great Canadian's business model 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 invests over $2.5 million in our communities, and in 2015, over 3,600 charitable organizations were supported by Great Canadian. 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.
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 investor enquiries: Email: [email protected] or Ms. Tanya Ruskowski, Executive Assistant to the President and Chief Executive Officer and the Chief Financial Officer, (604) 303-1000; For media enquiries: Mr. Chuck Keeling, Vice-President, Stakeholder Relations and Responsible Gaming, (604) 247-4197