Great Canadian Gaming Corporation Director Resigns
The Great Canadian Gaming Corporation put out a press release last week announcing the resignation of its long-time director, Brian Egli.
The gambling company, which is listed on the Toronto stock exchange and operates multiple gaming and entertainment facilities, confirmed that Egli had resigned from the group, effective September 29, 2011, "for personal and family reasons."
According to the press release, Egli had been a director of the Great Canadian Gaming Corporation since June 2010. He also served as an officer for the company and its subsidiaries for over a decade from 2000 to 2010.
The Great Canadian Gaming Corporation is a multi jurisdictional gaming and entertainment operator that boasts operations across Canada, including in British Columbia, Ontario and Nova Scotia, as well as in Washington State in the United States.
Its holdings includes ten land-based casinos, a thoroughbred racetrack with slot machines as well as three standardbred racetracks. Of these last three, two offer slot machines while the third offers slot and table games.
The corporation, which employs 4,000 people in Canada and an additional 600 in Washington State, also runs two community gaming centers, a bingo hall and business and entertainment facilities, including show theaters, conference centers, hotels and food and beverage establishments.
Great Canadian Increases Share Buyback Program
Last month, Great Canadian Gaming announced through its interim Chief Executive Officer and President, Rod N. Baker, that the Toronto Stock Exchange had accepted a notice filed of its intention to amend its current normal course issuer bid to buy an additional 3,844,359 of common shares.
The authorization was given to Great Canadian to buy common shares representing 10% of the public float, during a twelve month period ending January 26, 2012.
According to a September press release: "Purchases will be by way of open
market purchases through the facilities of the Toronto Stock Exchange and other
Canadian market places, and payment for the shares will in accordance with the
TSX's by-laws and rules.
"No purchases will be made other than by means of open market transactions
during the term of the normal course issuer bid and conducted at the market
place at the time of acquisition."
It goes on to say that all shares purchased by the company will be subsequently cancelled.
"As at September 8, 2011, there were 83,209,993 common shares issued and outstanding," read the press release.
