GC sells US GC assets for $56 million cash GREAT CANADIAN GAMING ANNOUNCES THE SALE OF ITS SUBSIDIARY
GREAT AMERICAN GAMING FOR US$56 MILLION
April 26, 2019 – Coquitlam, B.C. – Great Canadian Gaming Corporation [TSX: GC]
(“Great Canadian,” or “the Company”) announced today that the Company has agreed to
sell the shares of Great American Gaming Corporation (“Great American”) to Maverick
Gaming LLC (“Maverick”) for proceeds of US$56 million in a cash transaction.
Great American currently owns and operates three Washington State casino properties,
Everett, Tukwila and Lakewood. Great American represents all of the US operations of
the Company.
“The sale of Great American will allow Great Canadian to focus on its core growth markets
as we continue to execute on our operational and development plans for 2019 and
beyond,” stated Rod Baker, the Company’s Chief Executive Officer. “The divestiture is in
line with the Company’s stated strategic goals and demonstrates our commitment to
exploring opportunities to create shareholder value.”
The purchase and sale of Great American is subject to the consent of Washington State
Gambling Commission regulatory approvals and customary closing conditions. The
closing is expected to occur in the third quarter of 2019.