Brookfield, Great Canadian to acquire Toronto gaming assets
The private equity group of Brookfield Asset Management has partnered with Great Canadian Gaming Corp (TSX: GC) to acquire gaming assets in the Greater Toronto Area (GTA). No financial terms were released. The gaming assets, which generated gross revenue of more than $1 billion in 2016, was awarded by Ontario Lottery and Gaming Corp as part of its casino modernization. Brookfield and Great Canadian have formed Ontario Gaming GTA LP to invest in the assets, with each partner holding a 49 percent stake. Clairvest Group will hold a 2 percent stake. Great Canadian will operate the facilities on behalf of the other partners. The deal is expected to close in 2018.
8 August 2017•4 mins read
