Great Canadian posts record revenue
12th March, 2008
The Great Canadian Gaming Corporation has announced its results for the fourth quarter of 2007, achieving profit.
Revenues were up three per cent on the final quarter of 2006, reaching $100.7 million, while net earnings reached $13 million, compared to $11.5 million the year before.
Annually, revenues were $397.2 million for 2007, with EBITDA up 13 per cent to $110 million, the company reported.
"We completed several strategic gaming and service expansions, announced plans for additional developments, continued to enhance our operating efficiency, and established a financial structure that provides flexibility for the pursuit of further value-creating opportunities," Great Canadian's chairman and chief executive Ross J McLeod said.
He added that revenues were driven by good performances at Boulevard Casino and River Rock and pointed to expansion plans at Hastings and Georgian Downs to continue this success into 2008.
"We will look to drive shareholder value as we implement additional programs to drive revenues, continue to execute against our operating efficiency initiatives, and further develop what is one of the most robust expansion pipelines for regional gaming facilities in North America," Mr McLeod said.
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