Great Canadian Gaming saw unexpected numbers
Great Canadian Gaming recently acquired Casino New Brunswick and two Shoreline Casinos.
Canada.- Great Canadian Gaming perceived a revenue increase, even though the net earnings are lower in comparison with 2015’s amounts. Yesterday, the gaming company released the data of the first quarter that shows US$10.4 million or US$0.16 per share of net earnings, whilst last year they were US$16.1 million or US$0.23 per share.
Great Canadian Gaming’s total revenue increased a 20 percent, resulting in US$130.9 million. Calculations included every gaming venue from British Columbia, Ontario, New Brunswick, Nova Scotia and Washington State. Great Canadian Gaming owns 20 casinos, one thoroughbred racetrack; a standardbred racetrack; over two multi-purpose show theatres and various restaurants. The company has a market cap of US$1.10 billion.
However, numbers can improve as the company added two new casinos to its properties. The acquisition meant US$21.6 million in quarterly revenues. Operations in Hard Rock Casino Vancouver, other Vancouver casinos and the Great American Casinos have also shown an increment in their revenues. Furthermore, the company is currently in the last phase of construction of the Shoreline Casino in Belleville, Ontario, which is expected to be open by 2017.
