Clairvest, Great Canadian Gaming pay $134 mln for casinos
Great Canadian Gaming Corp (TSX: GC) and Canadian private equity firm Clairvest Group have closed their acquisition of casino assets in the West Toronto region. Terms weren't disclosed at the time of the deal's announcement in December; however, with the close the investors released a purchase price of about $134 million. Great Canadian and Clairvest own a respective 55 percent and 45 percent interest in a partnership that will run, modernize and further develop the facilities. The partnership entered into a five-year credit agreement to fund 65 percent of the acquisition and provide financing for an initial capital development program.
2 May 2018•3 mins read
