The Company from Canada announced its final results for the third quarter.
Canada.- Great Canadian Gaming Corporation released its financial results for the three month period that ended on September 30. Revenues increased by 30 percent to US$151 million compared to the same period in 2015. The company saw increases in revenue in all its properties except for River Rock Casino Resort.
The adjusted EBITDA also increased by 32 percent to US$63 million, and shareholder’s net earnings of almost US$27 million increased by 23 percent. Great Canadian recently acquired the Casino New Brunswick and Ontario Lottery and Gaming Corporation’s Gaming Bundle 2.
Rod Baker, the Company’s President and Chief Executive Officer, said: “Great Canadian generated improvements to both revenues and Adjusted EBITDA at all of its property groups during the third quarter of 2016, when compared to the same period in the prior year, with the exception of River Rock Casino Resort. River Rock has experienced a decline in high limit table play volume since 2015; however, the property’s table drop and hold started to show improvement during the third quarter of 2016, when compared to the previous three quarters. In addition, River Rock continued to generate encouraging slot machine revenues during the third quarter, generating the highest quarterly slot win in the property’s history.”
Baker also said that given their strong financial position, the Company is well-positioned to pursue other potential growth opportunities in Ontario and elsewhere. Great Canadian Gaming Corporation currently operated facilities in Nova Scotia, Ontario, British Columbia, New Brunswick and Washington State.