GAMEHOST INC. (:GH) Gamehost Acquisition of Non-Controlling Interest
Transparency directive : regulatory news
Not intended for distribution to U.S. newswire services or for dissemination in the U.S.
RED DEER, AB / ACCESSWIRE / May 5, 2022 / Gamehost Inc. ("Gamehost", the "Company") (TSX:GH)
Gamehost announces the purchase of a non-controlling/arm's length 9% interest in the Deerfoot Inn & Casino for $13.6 million. Prior to the transaction, the Company had a 91% interest in the Deerfoot. The Company now owns 100% of the property and business. The transaction was financed with traditional revolving debt from the Company's current lender at the bank's prime lending rate. The transaction closed May 5, 2022.
Deerfoot Inn & Casino was originally built in 2005 and extensively renovated/expanded in 2021. Deerfoot Casino operations include 60,000 square feet of gaming floor housing a 9 table poker room, 28 gaming tables including a separate 11 table high limit room, 805 slot machines including a separate 65 seat high-limit slot room, 24 video lottery terminals, 4 individual food and beverage outlets including a 120 seat pub-style restaurant, 24 seat café, 20 seat sushi kiosk, 30 seat island bar and a 200 seat live entertainment show room. The adjoined Deerfoot Inn operates 188 guest rooms, pool, waterslide and fitness centre, 17,000 square feet of convention space including 14 meeting/banquet rooms, 190 seat full-service restaurant and 108 seat lounge.
Gamehost is a corporation established under the laws of the Province of Alberta. The Company's operations are all located in the Province of Alberta, Canada. Operations of the Company include the Rivers Casino & Entertainment Centre in Ft. McMurray, the Great Northern Casino, Service Plus Inns & Suites and Encore Suites hotels as well as a strip mall all located in Grande Prairie and the Deerfoot Inn & Casino in S.E. Calgary.
Gamehost common shares trade on the Toronto Stock Exchange (TSX) under the symbol GH. For more information, visit www.gamehost.ca. Complete disclosure of the Company can be found on SEDAR at www.sedar.com.
The TSX does not accept responsibility for the adequacy or accuracy of this release.
For more information, contact:
Craig M. Thomas or;
Darcy J. Will
Toll free: (877) 703-4545
(403) 346-4545
Email: ir@gamehost.ca
SOURCE: Gamehost Inc.
View source version on accesswire.com:
https://www.accesswire.com/700351/Gamehost-Acquisition-of-Non-Controlling-Interest
source : webdisclosure.com