August 26, 2010 – Richmond, BC – Great Canadian Gaming Corporation (TSX:GC) (the “Company”) announces that Mr. Milton C. Woensdregt has resigned as Chief Financial Officer of the Company effective August 19, 2010. The Company thanks Mr. Woensdregt for his contributions over the past four years and wishes him success in his future endeavours.
Mr. Kiran Rao, currently the Company’s Vice President of Corporate Finance and Controller, has been appointed as Interim Chief Financial Officer, effective immediately. Mr. Rao, an employee of the Company since 2006, is a Chartered Accountant who possesses more than a decade of both domestic and international experience in corporate finance and accounting.
The Company has initiated a search for a permanent Chief Financial Officer, and will consider both internal and external candidates for the position.
ABOUT GREAT CANADIAN
Great Canadian Gaming Corporation is a multi-jurisdictional gaming and entertainment operator with operations in British Columbia, Ontario and Nova Scotia, and Washington State. The Company operates ten casinos, a thoroughbred racetrack that offers slot machines, three standardbred racetracks (two offer slot machines and one offers both slot machines and table games), a community gaming centre, a bingo hall, a hotel and conference centre, two show theatres and various associated food and beverage and entertainment facilities. Further information is available on the Company’s website, www.gcgaming.com.
ON BEHALF OF GREAT CANADIAN GAMING CORPORATION
Ross J. McLeod
Chairman and Chief Executive Officer
GREAT CANADIAN GAMING CORPORATION [TSX:GC]
Suite #350 – 13775 Commerce Parkway
Richmond, BC V6V 2V4
Phone: (604) 303-1000
For further information, please contact:
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Investor Enquiries: Mr. Nathan Sellyn
Director, Business Development & Investor Relations
(604) 306-0015, firstname.lastname@example.org
Media Enquiries: Mr. Howard Blank
Vice-President, Media, Entertainment & Responsible Gaming
Fax: (604) 279-8605
This news release contains forward-looking statements which reflect management’s current expectations regarding the Company’s objectives, plans, goals, strategies, future growth, results of operations, performance and business prospects and opportunities. These forward-looking statements are not guarantees, but only predictions. Although the Company believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a number of factors that could cause actual results to vary significantly from current expectations. Such differences may be caused by factors which include, but are not limited to, ongoing requirements to comply with financial covenants associated with credit facilities, limited terms of operational service agreements with gaming regulators, pending and proposed legislative or regulatory developments, competition from established competitors and new entrants in the gaming business, dependence on key personnel, no assurance that systems, procedures and controls will be adequate to support expanding operations, potential undisclosed liabilities and capital expenditures associated with acquisitions, negative connotations linked to the gaming industry, First Nations claims with respect to public lands on which we conduct our operations, impact of legal proceedings, impact of smoking bans, interest and exchange rate fluctuations, non-realization of cost reductions and synergies, acceptance and demand for new products and services, fluctuations in operating results and general economic conditions. The Company cautions that this list of factors is not exhaustive. These factors and other risks and uncertainties are discussed in the Company’s materials filed with the Canadian securities regulatory authorities from time to time, including in the “Risks Factors” section of the Company’s Annual Information Form for fiscal 2009, or as identified in the Company’s disclosure record on www.sedar.com. The forward-looking statements included in this news release are made only as of the date of this news release and the Company does not undertake to publicly update these forward-looking statements to reflect new information, future events or otherwise.