Canada
Great Canadian Gaming Announces Third Quarter 2020 Results
Great Canadian Gaming Corporation announced its financial results for the three month period ended September 30, 2020 .
THIRD QUARTER 2020 UPDATES
On November 10, 2020, the Company entered into a definitive agreement to be acquired by funds (the “Apollo Funds”) managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”). Under the terms of the agreement, Apollo Funds will acquire all the outstanding common shares of the Company for $39.00 per share.
Since the closures on March 16, 2020 in an effort to contribute to the containment of the COVID-19 coronavirus pandemic (“the Pandemic”), the Company has reopened its gaming properties under restricted operating conditions in Ontario and New Brunswick on September 28, 2020 and in Nova Scotia on October 5, 2020. Due to localized health authority mandates, Casino Woodbine and Casino New Brunswick were temporarily closed again on October 9, 2020, with Casino New Brunswick reopened again on October 23, 2020.
Shareholders’ net loss from continuing operations of $36.5 million or $0.66 per common share in the third quarter, compared to shareholders’ net earnings from continuing operations of $49.7 million or $0.85 per common share in the same period in the prior year.
“We are pleased that the transaction with Apollo represents a great opportunity for our shareholders, while continuing to support the success of the business longer term. We believe this transaction is beneficial for our shareholders, our team members, our guests, and other stakeholders as we continue to execute on our operational and development plans into 2021 and beyond, while we navigate through this volatile time,” stated Rod Baker, the Company’s Chief Executive Officer.
“We were able to safely reopen our gaming properties under restricted operating conditions in Ontario and in the Atlantic region, allowing us to initially bring back to work a small complement of team members in these provinces. We have worked diligently these past several months on comprehensive reopening plans that adhere to provincial guidelines on health and safety. We will continue to follow the direction of provincial governments and local health authorities, which continues to be rapidly fluctuating and will require the Company to adjust the operating environment in the future as conditions evolve, and may include temporary resuspensions like those we experienced with some of our properties,” continued Mr. Baker. “Although we have partially reopened our gaming properties, gaming revenues in each jurisdiction are significantly reduced due to the restricted operating conditions.”
FINANCIAL REVIEW
The temporary suspension of all of the Company’s gaming facilities for almost the entire third quarter resulted in decreases in revenues, expenses, Adjusted EBITDA1, shareholders’ net earnings (loss), Free Cash Flow1, and total cash flows, when compared to the same period in the prior year.
____________________________
1 Adjusted EBITDA and Free Cash Flow are non-IFRS measures, as described in the disclaimer section of this press release, and excludes discontinued operations
The Company incurred negative Free Cash Flow during the temporary suspension period. During the third quarter, the Company had negative Free Cash Flow of $54.8 million, which was primarily due to $62.2 million in capital expenditures related to our capital developments in Ontario. Negative Free Cash Flow for the third quarter of 2020 was an improvement from negative Free Cash Flow of $123.4 in the second quarter of 2020, which included capital expenditures of $98.6 million. This negative Free Cash Flow was funded with borrowings from the Company’s credit facilities, and the remaining from available cash balances.
The Company had cash outflow of $26.3 million for the third quarter, which was lower than the cash outflow of $97.8 million in the same period in 2019, due to reduced cash outflows from financing and investing activities. The Company repurchased $8.0 million of common shares under the normal course issuer bid in the third quarter of 2020, compared to $71.9 million of repurchases in the same period in the prior year.
OUTLOOK
“Despite the impact that the Pandemic has had on our construction projects, we are moving forward with our GTA capital development programs, primarily our Pickering Casino Resort and Casino Woodbine integrated resort developments, which will be primarily funded by our capital expenditures credit facility. We continue to assess the timing for the launch of these developments; however, we do not anticipate any impact to our total planned capital spend. As we continue to incur the expenditures related to these development programs, we are encouraged by the partial reopening of our gaming facilities which will assist us in improving our cash flow profile for the remainder of 2020 and beyond, subject to our gaming properties remaining open.”
“Great Canadian remains proactive in maintaining its capital structure while minimizing cash outflows and taking measures to reduce operating expenses as appropriate. As at September 30, 2020, Great Canadian continues to remain in stable capital and liquidity position with a cash balance of $471.9 million and $1,062.5 million of available undrawn credit on its credit facilities, subject to applicable covenants. The Company has entered into agreements with its lenders to temporarily waive compliance with its financial and operational covenants under certain of its credit facilities. As at September 30, 2020, we were in compliance with all applicable covenants and we are currently in preliminary discussions to extend our waiver period with our banking partners, who continue to provide ongoing support to our business,” concluded Mr. Baker.
SOURCE Great Canadian Gaming Corporation
Powered by WPeMatico
Canada
Group from Ts’elxwéyeqw Tribe and Great Canadian Entertainment Announce Agreement for the Acquisition of Elements Casino Chilliwack
Great Canadian Entertainment and a consortium group of certain communities from the Ts’elxwéyeqw Tribe, through an entity affiliated with Ts’elxwéyeqw Tribe Management Ltd. (the “Ts’elxwéyeqw Group”), announced that on November 7th, 2025, they entered into a definitive agreement for the purchase by the Ts’elxwéyeqw Group from Great Canadian Entertainment of Elements Casino Chilliwack, one of the premier gaming and entertainment destinations in the Fraser Valley region of British Columbia.
The Ts’elxwéyeqw Tribe constitute seven First Nation communities and are the First People of the Chilliwack River watershed. The transaction represents a transformational milestone for the communities within the Ts’elxwéyeqw Group.
Elements Casino Chilliwack serves guests across the Fraser Valley and is Chilliwack’s top destination for gaming and entertainment, featuring over 300 slots, live and electronic table games, bingo, dining, live entertainment and more.
The closing of the transaction remains subject to customary closing conditions and the receipt of regulatory and other approvals. Under the terms of the definitive agreement, Great Canadian Entertainment will continue to provide transitional services and support to the Ts’elxwéyeqw Group for a period following closing.
“This purchase marks an exciting milestone for our Nations and for the entire territory. By coming together in partnership, we are not only investing in a strong business opportunity, but also in the future of our people. The revenues generated through this acquisition will help strengthen our communities, create new opportunities, and ensure our Nations continue to play a leading role in the local economy. Additionally, we believe that local community-based ownership of Elements Casino Chilliwack will further strengthen the broader Fraser Valley community and economy. It’s a proud moment that reflects how Indigenous leadership and collaboration can build a stronger, more inclusive future for everyone,” said Chief David Jimmie, Chief of Squiala First Nation and President of Ts’elxwéyeqw Tribe Management Ltd.
“We are very excited to have entered into this agreement with the Ts’elxwéyeqw Group. We have had the privilege of being part of the Chilliwack community since we opened Elements Casino Chilliwack in 2012, and we believe that under the Ts’elxwéyeqw Group’s stewardship, the business will begin an exciting new chapter. For the team members and guests of Elements Casino Chilliwack, and the local community, we can think of no better owner for the business. We look forward to the closing and then working with the Ts’elxwéyeqw Group team during the transition period,” said Matt Anfinson, CEO of Great Canadian Entertainment.
McCarthy Tétrault LLP is acting as legal advisor and KPMG Corporate Finance Inc. is acting as financial advisor to the Ts’elxwéyeqw Group. McMillan LLP is acting as legal advisor to Great Canadian Entertainment.
The post Group from Ts’elxwéyeqw Tribe and Great Canadian Entertainment Announce Agreement for the Acquisition of Elements Casino Chilliwack appeared first on Americas iGaming & Sports Betting News.
Reading Time: 2 minutes
The Canadian iGaming market has evolved from an emerging opportunity into one of the most competitive and innovative digital gaming arenas worldwide. Ontario’s regulated framework has paved the way for rapid expansion, attracting established international operators alongside ambitious newcomers that are carving out share through brand differentiation and data-driven acquisition.
Methodology: How Growth Was Measured
To understand which casino brands are gaining momentum and why, the award-winning Mr. Gamble Casino Trends Meter—a proprietary performance index powered by Semrush, Ahrefs, in-house click tracking, market benchmarks, and predictive analytics—analyzed year-over-year (YoY) performance from January–June 2024 versus January–June 2025. The results point to a vibrant, fiercely competitive landscape where execution, trust, and experience are the real drivers of sustained growth.
Brands Showing Standout Growth in 2025
Strong outperformance highlights different paths to scale
Wild Tokyo posted an extraordinary +134% YoY, showing how bold branding, a distinctive identity, and targeted acquisition can resonate with players seeking unique experiences. Clean yet edgy design, paired with robust SEO execution and engagement programs, helped the brand cut through a crowded market.
LuckyDays delivered +110% YoY by striking a balance between simplicity and substance. A minimalistic UX, a vast game library, and strong affiliate relationships have positioned it as a trusted destination for Canadian players.
BetVictor, a legacy operator with deep roots, recorded +107% YoY. Its evolution from traditional bookmaker to diversified iGaming powerhouse underscores how credibility and adaptability can translate into modern growth.
Agile mid-tier brands are also accelerating: SlotsMagic at +94% and Betibet at +88% demonstrate how focused SEO, analytics-led decision making, and smart promotional strategy can punch above weight.
Crypto-forward momentum and broader market depth
The joint rise of BetFury and SmokAce—both at +74%—signals growing acceptance of crypto and blockchain-based gaming among Canadian users, driven by transparency, fast payments, and a tech-forward ethos.
Meanwhile, Paripesa, Mond, and ComeOn maintained robust double-digit YoY growth, underscoring the market’s depth and diversity beyond a handful of headline names.
Market Maturity: Compliance, Trust, and UX Win
As more provinces explore regulated frameworks modeled on Ontario, competition is intensifying. The brands pulling ahead are those investing in compliance, transparency, and player satisfaction—prioritizing product quality and retention over short-term promotions.
“Players are becoming more selective, more informed, and more focused on trust,” says Paul Puolakka, CMO at Mr. Gamble. “We’re seeing a clear shift toward quality brands that prioritize experience, safety, and innovation—the ones achieving real, sustained growth.”
Puolakka adds: “Data doesn’t just tell us who’s growing—it shows us why. The operators succeeding in Canada are those that deeply understand their audience, use insights effectively, and build long-term value instead of chasing short-term hype.”
Trends Shaping the Next Phase of iGaming in Canada
- Branding + data-led acquisition let emerging brands challenge incumbents more effectively than ever.
- Crypto-friendly casinos are moving from niche to mainstream consideration for Canadian users.
- SEO, content strategy, and affiliate partnerships remain reliable, capital-efficient growth levers.
- Compliance, transparency, and UX are central to sustainable market share gains.
Looking Ahead
The fastest-growing casino brands capture more than impressive statistics—they reflect a market in transformation. With Wild Tokyo setting creative benchmarks and veterans like BetVictor and ComeOn proving that brand equity still matters, Canada’s iGaming sector is entering a phase defined by intelligent growth, regulatory maturity, and player empowerment.
As the industry continues to evolve, the Mr. Gamble Casino Trends Meter remains a useful compass for players, affiliates, and operators navigating this fast-changing landscape.
The post Canadian iGaming Growth Trends 2025: Data, Strategy, and the Brands Defining the Market appeared first on European Gaming Industry News.
Reading Time: 2 minutes
Ezugi, an innovative live dealer casino supplier known for pushing the boundaries of live gaming, retention, and distribution solutions, is proud to announce a new partnership with PokerStars, the world’s largest online poker site.
Through this partnership, PokerStars’ players in the UK and Ontario will gain access to Ezugi’s standout portfolio, including Revolution Roulette, Ultimate Roulette, Unlimited Blackjack and Lucky 7 online casino games.
PokerStars, launched in 2001, is one of the world’s leading online poker and casino brands and operates as part of Flutter Entertainment. It has grown to become the largest poker site globally, offering the widest selection of online games and hosting prestigious live tournaments.
Formed in 2012, Ezugi is a global live casino provider with a focus on meeting operator and player needs with best-of-breed localised content. The Ezugi games portfolio includes a wide range of live dealer games, many of which are unique. Ezugi became part of Evolution in 2018 and continues to build on its reputation for providing unique and innovative games and solutions for online casino and retail betting shop operators.
Gilad Ben-Ami, Chief Executive Officer at Ezugi, said: “PokerStars’ players already enjoy a wide range of live casino and online slot games from Evolution brands such as Evolution, NetEnt, Red Tiger and Big Time Gaming. Now Ezugi is delighted and honoured to add even more choice for PokerStars’ players with our own innovative games.”
Ben-Ami continued: “The release of Ezugi games to PokerStars clearly demonstrates the rich variety and innovative features of the Ezugi games portfolio. Ultimate Roulette is a unique multiplier Roulette that blends circus-themed fun and TV game show excitement; Revolution Roulette puts a unique spin on classic Roulette by adding special multiplier pockets to the wheel; Unlimited Blackjack allows an unlimited number of players to play at the table, while also featuring Auto-Split functionality and a choice of four side bets – Perfect Pairs, 21+3, Perfect 11 and Ten20; and Lucky 7 is a very popular game with its origins in the Indian subcontinent – a fast-paced, simple and exciting Hi-Lo card game.”
Ben-Ami concluded: “We are confident that PokerStars’ players will love playing these games and we look forward to adding more Ezugi titles for them in the future.”
The post Ezugi partners with PokerStars to further extend live casino game choice for players appeared first on European Gaming Industry News.
-
Canada7 days agoGroup from Ts’elxwéyeqw Tribe and Great Canadian Entertainment Announce Agreement for the Acquisition of Elements Casino Chilliwack
-
Absolute Sports Pvt.7 days agoNazara’s Subsidiary Absolute Sports Enters Pickleball, Acquires Mumbai Franchise in Indian Pickleball League
-
Asia7 days ago
UniPin Accelerates Esports Growth Through Nationwide Campus Esports Championship in India, Expansion to 50+ Universities in 2026
-
Australia7 days ago
SkyCity Announces Renewal of Queenstown Casino Licence
-
ADMIRAL Pay7 days ago
NOVOMATIC Italia Showcases Innovation and Responsible Growth at SiGMA 2025
-
Booming Games6 days ago
Mustangs Run Wild in Booming Games’ Latest Hit Mustang Hold and Win!
-
Asia6 days ago
Max Level wins PR & Communications mandate for LVL Zero Gaming Incubator
-
Uncategorized5 days ago
PH iGaming Streamers Unite to Promote Responsible Gaming Amid Crackdown on Creators Promoting Illegal iGaming
