Great Canadian Gaming Nets $56M in Profits from American Casinos Deal
Great Canadian Gaming has been one of the forerunners in the Canadian entertainment industry for decades and has a significantly large net worth. They have been active on American soil for some time and recently decided to sell their corporation’s shares to the Great American Gaming Corporation for an enormous $56 million. Casinos have to be as adaptable as possible in this competitive industry and Great Canadian Gaming did exactly that. Instead of working against one of the biggest names in the business and on their own soil, they knew that it was going to be a losing battle, so they made the best call possible, and a very profitable one at that.
The Change from a Canadian Brand to an American One
Great American Gaming has been around for many years and has more than six hundred employees under their name. They have three operational venues that are run by United States subsidiaries and have built a huge customer basis and profitable income. Great Canadian Gaming realized that because of the fast development of American casinos, it would be in direct competition to a booming business which could hinder the growth of the casino.
Selling shares to them would be the most profitable move available and one with the greatest future possibilities. Since the shares were sold to the American corporation, Great Canadian can focus on developments in Canada, which according to sources in the Canadian government, is a booming enterprise at the moment.
Where does that Leave Great Canadian Gaming Now?
Great Canadian Gaming can focus its attention to building new establishments on Canadian soil, and with the new upcoming cash injection, they can make a success out of this lucrative business. They are planning new developments and already have establishments in British Columbia, Vancouver and Ontario. Their new main project has the corporation developing plans to open an establishment in Peterborough which they’re planning on calling “Shorelines Casino.”
The sales of such a huge amount of shares can and will be a daunting task for everyone involved. Thankfully, this deal seems to be working in everyone’s favour. The Great American Gaming Corporation can develop their company further and so can the Canadian corporation because of its new funds to expand into other areas. With the new funds Great Canadian can also continue their development of Casino Ajax. There was first a dispute about whether or not, Great Canadian would be able receive the rights to operate in the Greater Toronto area, but thankfully they did, and can now expand their business into other gambling areas.
The selling of the shares hasn’t come about just yet but the deal should be closed at the end of the business year, allowing a profitable opportunity with both companies involved. Allowing certain changes in the management of these casinos can influence player appreciation positively, because this change has resulted in a modernization for both corporations and has resulted in a new client enjoyment. This $56 million deal is a prudent choice for both parties. If you want to know more and experience a great online casino, take a look at the following site.