Great Canadian Gaming
| |
Public | |
Traded as | |
Industry | Gaming and Hospitality |
Founded | 1982 |
Headquarters | Coquitlam, British Columbia, Canada |
Key people | Rod N. Baker (Chairman and Chief executive officer) |
Number of employees | 9,400 (2018) |
Website | https://gcgaming.com/ |
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
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
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
British Columbia
- River Rock Casino Resort in Richmond, the largest casino in British Columbia.[13] The property also includes a theater and two hotels. This casino was opened in 2004, replacing a previous casino on the site.[13]
- Hard Rock Casino Vancouver in Coquitlam, which also includes a theater. The casino originally opened as Boulevard Casino in 2001, and re-branded itself in 2013.
- Hastings Racecourse in Vancouver, which also includes 600 slot machines. The company acquired the race track in 2004.[5]
- Elements Casino in Surrey
- View Royal Casino in Victoria
- Casino Nanaimo in Nanaimo, opened in 1986[5]
- Chances Maple Ridge in Maple Ridge
- Chances Chilliwack in Chilliwack
- Chances Dawson Creek in Dawson Creek
- Bingo Esquimalt in Esquimalt
Ontario
- Casino Ajax in Ajax
- Casino Woodbine in Toronto
- Great Blue Heron Casino in Scugog Island
- Shorelines Casino Thousand Islands in Gananoque
- Shorelines Slots at Kawartha Downs, a race track in Fraserville, south of Peterborough. This track is closing down in 2018, and be replaced by a new casino will be built in Peterborough.[14]
- Shorelines Casino Belleville in Belleville. This casino opened on January 11, 2017, and was the first new casino in Ontario since 2006.[15]
- Georgian Downs, a race track in Innisfil, acquired in 2005
- Flamboro Downs, a race track in Hamilton, acquired in 2005
- Elements Casino Brantford, formerly OLG Casino Brantford, acquired in 2018
- Elements Casino Grand River, formerly OLG Slots Grand River
- Elements Casino Mohawk. former OLG Slots Mohawk
Atlantic Canada
- Casino Nova Scotia Halifax, acquired in 2005
- Casino Nova Scotia Sydney, acquired in 2005
- Casino New Brunswick in Moncton
United States
- Great American Casino Des Moines in Des Moines, Washington
- Great American Casino Everett in Everett, Washington
- Great American Casino Lakewood in Lakewood, Washington
- Great American Casino Tukwila in Tukwila, Washington
References
- ↑ "Great Canadian Gaming Corporation - 2017 Q3 Financial Statement". Great Canadian Gaming Corporation. Retrieved 2017-12-28.
- 1 2 "Great Canadian Gaming Corporation - Annual Information Form 2016". Great Canadian Gaming Corporation. Retrieved 2017-12-28.
- ↑ "Great Canadian Gaming Corporation - Who We Are".
- ↑ "Financials - Great Canadian Gaming Corporation". Great Canadian Gaming Corporation. Retrieved 2018-09-01.
- 1 2 3 4 5 6 7 "History - Great Canadian Gaming Corporation". Great Canadian Gaming Corporation. Retrieved 2017-12-23.
- ↑ Luciw, Roma (2006-02-13). "Great Canadian Gaming sinks". The Globe and Mail. Retrieved 2017-12-23.
- ↑ "Great Canadian Gaming posts Q4 loss, may breach debt pacts". CBC News. 2017-03-20. Retrieved 2017-12-23.
- ↑ "Great Canadian Gaming says its B.C. casino follows rules amid allegations of illegal activity". BNN. 2017-10-23. Retrieved 2017-12-28.
- ↑ "Gaming Corporation responds to allegations of money laundering at River Rock Casino". Global News. Retrieved 2017-12-28.
- ↑ Warmington, Joe (2017-08-08). "World-class casino slated for Woodbine". Toronto Sun. Retrieved 2017-12-28.
- ↑ Wilson, Codi (2017-10-30). "Ontario PCs want deal with company chosen to run Woodbine Racetrack halted". CTVNews Toronto. Retrieved 2017-12-28.
- ↑ "Great Canadian Gaming and Clairvest win Ontario casino deal". Financial Post. 2017-12-19. Retrieved 2017-12-28.
- 1 2 Bitonti, David (2013-03-07). "River Rock: More than a house of gambling". The Globe and Mail. Retrieved 2017-12-28.
- ↑ Kovach, Joelle (2017-08-10). "Kawartha Downs workers fear job losses". Peterborough Examiner. Retrieved 2017-12-28.
- ↑ Miller, Jason (2017-01-10). "Casino announces opening". The Belleville Intelligencer. Retrieved 2017-12-28.