Brookfield Business Partners L.P. (TSX:BBU.UN), Great Canadian Gaming Corporation (TSX:GC) and Clairvest Group Inc. (TSX:CVG) entered into an asset purchase agreement to acquire all the gaming assets in the Greater Toronto Area bundle (GTA Bundle) from Ontario Lottery and Gaming Corporation on August 8, 2017. The transaction is pursuant to a competitive procurement process as a result of which, buyers will have a minimum of 22-year exclusive right to operate the GTA Bundle. Under the terms of the transaction, Brookfield Business Partners and Great Canadian Gaming Corporation shall acquire 49% each, while the remaining 2% of the assets shall be acquired by Clairvest Group. Unionized employees will be transferred to the service provider while non-unionized employees will be retained for a period of no less than 12 months. In 2016, Great Blue Heron Casino and Slots at Woodbine Racetrack and Ajax Downs (representing all the GTA Bundle), generated total revenue of approximately CAD 1 billion. Completion of the transaction is subject to regulatory approvals and other customary conditions and is expected to be completed in early 2018. Karrin Powys-Lybbe of Torys LLP acted as legal advisor to Brookfield Business Partners L.P.

Brookfield Business Partners L.P. (TSX:BBU.UN), Great Canadian Gaming Corporation (TSX:GC) and Clairvest Group Inc. (TSX:CVG) completed the acquisition of all the gaming assets in the Greater Toronto Area bundle (GTA Bundle) from Ontario Lottery and Gaming Corporation for CAD 170 million on January 23, 2018.