Gaming News

Great Canadian Gaming Acquires BC Track Operator

RICHMOND, British Columbia – As reported by the Canadian Press: "Great Canadian Gaming Corp., which operates six casinos and a thoroughbred racetrack, has reached a deal to acquire Orangeville Raceway Ltd., operator of two standardbred tracks in British Columbia, for at least $40 million.

"Orangeville operates Fraser Downs Racetrack & Casino in Surrey and Sandown Park in North Saanich, Vancouver Island.

"Richmond-based Great Canadian (TSX:GCD), which already owns Hastings Racecourse in Vancouver, said Monday it will pay $40 million plus a share of gambling and racing revenue for up to four years.

"The acquisition is still subject to various regulatory and industry approvals, but it expected to close by Jan. 31.

"…Fraser Downs Racetrack & Casino currently offers live standardbred horse racing nine months of the year.

"The casino operates all year and features a sports bar and 420 gambling machines, including slots…"

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