Great Canadian Gaming shares financial results

Canadian gaming operator has released its full report on 2017’s casino activities.

Canada.- The 2017 report of Great Canadian Gaming Corp’s operations shows growth in the North American country. According to the official statement released by Totally Gaming, the Canadian company that operates the British Columbia-based casino, racetrack and resort has maintained a decent increase on operations.

“In the fourth quarter, the company posted revenues of CAD$151 million (US$117 million) which represented a six per cent increase from CAD$143 million (US$111 million) generated in the corresponding period for 2016. Adjusted EBITDA grew by four per cent to CAD$49.2 million (US$38 million),” states the report.

For the full year, Great Canadian Gaming reported a revenue growth of eight per cent to CAD$614.3 million (US$478 million). Adjusted EBITDA increased seven per cent to CAD$223 million (US$173 million), with net earnings climbing 12 per cent to CAD$85.7 million (US$66.7 million).

Rod Baker, the firm’s President and CEO, commented: “Great Canadian generated increases to revenues at most of its properties, for both the fourth quarter and full year of 2017, when compared to the same periods in the prior year.

“Adjusted EBITDA improved for both the fourth quarter and full year of 2017, when compared to the same periods in 2016, at most of the company’s property groups. River Rock and Vancouver Island Casinos were both negatively impacted by major renovations during the fourth quarter. Adjusted EBITDA decreased at Great American Casinos mainly because of opening the new casino in Des Moines, Washington, which continues to ramp up since its launch in 2017.”