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Great Canadian Gaming Corp. has announced it is purchasing assets of the Chilliwack Bingo Association (CBA), including the CBA's existing bingo operations and a two-hectare site in Chilliwack, B.C.

Though the cost of the acquisition was not disclosed, Great Canadian said it would provide further details when it announces first-quarter 2011 results May 12.

"The acquisition of Chilliwack Bingo will represent the continued execution of Great Canadian's disciplined growth strategy," chairman and CEO Ross McLeod said in a release, explaining, “This acquisition, like our ongoing development in Maple Ridge, provides Great Canadian with an opportunity to service a growing and underserviced market. We look forward to working alongside both the City of Chilliwack and the CBA, as well as the British Columbia Lottery Corp., in developing a high-quality gaming facility for this municipality."

CBA chairman Roy Fraser noted the CBA, through the bingo hall it operates in Chilliwack, has provided millions of dollars to charities in the community over the last 25 years.

"This transaction not only ensures that these charities will continue to receive this support, but also creates a significant opportunity for an even greater level of contribution to our community," Fraser said.

[Source: Canadian Press]

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