Great Canadian Gaming

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Great Canadian Gaming Corporation
Public
Traded as
IndustryGaming and Hospitality
Founded1982
Headquarters,
Canada
Key people
Rod N. Baker (Chairman and Chief executive officer)
Number of employees
9,400 (2018)
Websitehttps://gcgaming.com/
River Rock Casino Resort, a Great Canadian Gaming Property

Great Canadian Gaming is a Canadian gaming, entertainment and hospitality company, listed on the Toronto Stock Exchange and part of the S&P/TSX Composite Index.

Business[edit]

Great Canadian operates 28 gaming properties in Canada and Washington State, consisting of casinos, horse race tracks (with slot machines), and smaller-scale gaming centres. It also runs hotels, restaurants, and entertainment facilities associated with its properties. As of the third quarter of 2017, 67% of revenue was from gaming.[1] As of 2018, it had 9,400 employees.[2] In 2016, 61% of revenues were from British Columbia, 17% were from Ontario, 15% were from Atlantic Canada, and the rest were from the United States.[2] In total, Great Canadian properties include 16,000 slot machines, 386 table games, 80 dining establishments and 500 hotel rooms.[3]

In 2017, their gross gaming revenue was about $1.2 billion, with net earnings for 2017 of $85.7 million.[4]

History[edit]

The company was founded in 1982 as the Great Canadian Casino Company.[5] It initially operated charity casinos and a casino at Vancouver's Pacific National Exhibition.[5] In 1986, it opened its first permanent casino in Vancouver.[5] It held an IPO on the TSX Venture Exchange in 1992, and renamed itself the Great Canadian Gaming Company in 1997.[5] In 2004, it listed on the Toronto Stock Exchange.[5] In 2005, it acquired a number of casinos in Ontario and Nova Scotia.[6] As a result of these acquisitions, it breached debt agreements in March 2006.[7]

Great Canadian has been investigated for money laundering that allegedly took place at their River Rock Casino Resort.[8] The company has released a statement saying that it has followed all the necessary procedures.[9]

In August 2017, Great Canadian (in cooperation with Brookfield Property Partners) won a bidding process to take over Woodbine Racetrack in Toronto from the OLG.[10] It also took over Ajax Downs and the Great Blue Heron Casino. The then-opposition OntarioPCs called for the deal to be halted due to the money laundering allegations.[11]

In December 2017, Great Canadian (in cooperation with Clairvest Group) won a process to take over four more OLG facilities.[12]

Properties[edit]

British Columbia[edit]

Ontario[edit]

Atlantic Canada[edit]

United States[edit]

References[edit]

  1. ^ "Great Canadian Gaming Corporation - 2017 Q3 Financial Statement". Great Canadian Gaming Corporation. Retrieved 2017-12-28.
  2. ^ a b "Great Canadian Gaming Corporation - Annual Information Form 2016". Great Canadian Gaming Corporation. Retrieved 2017-12-28.
  3. ^ "Great Canadian Gaming Corporation - Who We Are".
  4. ^ "Financials - Great Canadian Gaming Corporation". Great Canadian Gaming Corporation. Retrieved 2018-09-01.
  5. ^ a b c d e f g "History - Great Canadian Gaming Corporation". Great Canadian Gaming Corporation. Retrieved 2017-12-23.
  6. ^ Luciw, Roma (2006-02-13). "Great Canadian Gaming sinks". The Globe and Mail. Retrieved 2017-12-23.
  7. ^ "Great Canadian Gaming posts Q4 loss, may breach debt pacts". CBC News. 2017-03-20. Retrieved 2017-12-23.
  8. ^ "Great Canadian Gaming says its B.C. casino follows rules amid allegations of illegal activity". BNN. 2017-10-23. Retrieved 2017-12-28.
  9. ^ "Gaming Corporation responds to allegations of money laundering at River Rock Casino". Global News. Retrieved 2017-12-28.
  10. ^ Warmington, Joe (2017-08-08). "World-class casino slated for Woodbine". Toronto Sun. Retrieved 2017-12-28.
  11. ^ Wilson, Codi (2017-10-30). "Ontario PCs want deal with company chosen to run Woodbine Racetrack halted". CTVNews Toronto. Retrieved 2017-12-28.
  12. ^ "Great Canadian Gaming and Clairvest win Ontario casino deal". Financial Post. 2017-12-19. Retrieved 2017-12-28.
  13. ^ a b Bitonti, David (2013-03-07). "River Rock: More than a house of gambling". The Globe and Mail. Retrieved 2017-12-28.
  14. ^ Kovach, Joelle (2017-08-10). "Kawartha Downs workers fear job losses". Peterborough Examiner. Retrieved 2017-12-28.
  15. ^ Miller, Jason (2017-01-10). "Casino announces opening". The Belleville Intelligencer. Retrieved 2017-12-28.