Baden Resources to Acquire Great Canadian Entertainment in Proposed Deal
Baden Resources and Great Canadian Entertainment have reached a tentative agreement for Baden to purchase Great Canadian, a Canadian gaming and entertainment firm.
Under the proposed deal, Baden would acquire all outstanding shares of Great Canadian in return for Baden stock, structured as a three-way merger or another mutually acceptable structure. Prior to the deal’s closure, Baden will need to finalize a share consolidation (ratio to be determined), and Great Canadian is anticipated to complete the distribution of subscription receipts. The corporations intend to finalize the agreement by June 27, 2022, and secure all required regulatory approvals. Notably, Baden intends to delist from the Canadian Securities Exchange prior to the transaction and will need to obtain conditional listing approval on the TSX Venture Exchange as a prerequisite for closing the acquisition.
However, because the letter of intent is non-binding, there is no assurance the acquisition will proceed under these terms or at all.
Great Canadian possesses and operates Casino Woodbine and the Great Canadian digital casino and sportsbook in Ontario. They are recognized for providing a customized gaming experience to Canadian players.
This action underscores Great Canadian’s proactive strategy of securing alliances and agreements within Ontario’s increasingly competitive gaming sector.
During the sixth month of 2022, video game creator NorthStar joined forces with Playtech, a top technology supplier for the gaming sector. This collaboration aimed to incorporate Playtech’s IMS framework and utilize their vast collection of slot machine games and live dealer options.
