Ex-Caesars CEO joins Great Canadian Gaming Corp as Apollo takeover concludes
Land-based veteran Tony Rodio links up with Canadian operator as private equity backers seek experienced leadership
Former Caesars Entertainment boss Tony Rodio has been appointed as the new CEO of Great Canadian Gaming Corporation (GCGC) following the completion of a multi-million-dollar takeover by US private equity firm Apollo Global Management.
A 40-year veteran of the industry, Rodio served as Caesars CEO from April 2019, overseeing the firm through its acquisition by Eldorado Resorts in July 2020.
Rodio previously held C-level roles at land-based operators including Hollywood Casino and Harrah’s Entertainment.
Apollo partner and GCGC chairman Alex van Hoek said: “We are confident that his experience leading businesses through transformative periods of innovation and growth will help to take Great Canadian to new heights.”
GCGC interim CEO Terrance Doyle, who oversaw the firm through the Covid-19 period, will transition to the role of national president of business development, reporting directly to the board of directors.
In his new role, Doyle will assist the board and management on transition and business development initiatives across GCGC, including the completion of its casino development in the greater Toronto area.
The appointment of Rodio is the first move made by new owner Apollo, whose purchase of GCGC received regulatory approval from Canadian regulators earlier this month.
Apollo first offered to buy GCGC in November 2020 for C$3.3bn (£1.9bn), a deal which at the time valued the firm at C$39 (£22) per share.
In December, the private equity firm upped its offer by 15.4% after major shareholders in GCGC threatened to torpedo the deal. The acquisition later completed at a price of C$45 per share.
Apollo has built up a substantial igaming portfolio through acquisitions, including the purchase of Lottomatica from IGT in Italy for €950m.
The firm has also obtained interests in Czech giant Sazka Group and made unsuccessful approaches for Tabcorp’s media and wagering division and William Hill.