November 10, 2011 – Richmond, BC – Great Canadian Gaming Corporation [TSX:GC] (“Great Canadian” or “the Company”) today announced the appointment of three new members to the Company’s Board of Directors. These appointments have been made, subject to the Company receiving the appropriate regulatory approvals.
Mr. Patrick Keenan
A Chartered Accountant, Mr. Keenan currently serves as Chairman and Chief Executive Officer of Keewhit Investments Limited. Mr. Keenan is a member of the Order of Ontario and the Order of Canada, and has extensive experience as both a charitable and corporate Director, including the role of Chairman for both the Canada Development Investment Corporation and St. Michael’s Hospital. Mr. Keenan also managed the Woodbine Entertainment Group, then known as the Ontario Jockey Club, from 1992 to
Mr. Neil Baker
A former member of the New York Stock Exchange, Mr. Baker served for nearly a decade as the Chairman of Gordon Investment Corporation, one of the Canada’s largest merchant banks. Currently, Mr. Baker is both a Director of Northstar Aerospace and President of the Ridgeline Corporation. Mr. Neil Baker both owns and possesses voting control over approximately 12% of Great Canadian’s outstanding shares.
Mr. William Andrew Dimma
Mr. Dimma has a wealth of experience as both a charitable and corporate Director, having sat on nearly 100 different Boards over the past 40 years. A professional engineer, Mr. Dimma has been a dean of the business school at York University, as well as President of the Torstar Corporation, Toronto Star Newspapers, and Royal LePage. Mr. Dimma is also a member of the Order of Ontario and the Order of Canada, as well as a Fellow in the Institute of Corporate Directors. In addition, he is the author of two books on corporate governance.
These three new Directors, whose appointments remain subject to regulatory approvals, replace three former Directors: Mr. Ross J. McLeod, who passed away on September
5th, Mr Brian Egli, who resigned on September 29th, and Mr. Adrian Thomas, who retired on November 10th.
“I am very pleased to present Mr. Keenan, Mr. Baker, and Mr. Dimma as new members of Great Canadian’s Board of Directors,” stated Earnest C.Beaudin, Lead Director of the Company. “We look forward to the benefit of their counsel and contributions, as well their input on the Ontario marketplace, a key geography in Great Canadian’s future.”
ABOUT GREAT CANADIAN GAMING CORPORATION
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, four horseracing facilities (three offer slot machines and one offers both slot machines and table games), two community gaming centres, a bingo hall, a hotel and conference centre, two show theatres, and various associated hospitality outlets. Further information is available on the Company’s website, www.gcgaming.com.
BY ORDER OF THE BOARD OF DIRECTORS OF GREAT CANADIAN GAMING CORPORATION
“Original Signed By Earnest C. Beaudin”
Earnest C. Beaudin
GREAT CANADIAN GAMING CORPORATION [TSX:GC]
Suite #350 – 13775 Commerce Parkway
Richmond, BC V6V 2V4
For investor enquiries:
Ms. Tanya Ruskowski
Executive Assistant to the President and Chief Executive Officer and the Interim Chief
For media enquiries:
Mr. Howard Blank
Vice-President, Communications, Entertainment & Responsible Gaming
This news release contains certain “forward-looking information” or statements within the meaning of applicable securities legislation. Forward-looking information is based on the Company’s current expectations, estimates, projections and assumptions that were made by the Company in light of its historical trends and other factors. All information or statements, other than statements of historical fact, are forward-looking information including statements that address expectations, estimates or projections about the future, the Company’s strategy for growth, expected future expenditures, costs, operating and financial results and expected impact of future commitments. Such forward-looking information is not a guarantee of future performance and may involve a number of risks and uncertainties. Although forward-looking information is based on information and assumptions that the Company believes are current, reasonable and complete, they are subject to a number of factors that could cause actual results to vary materially from those expressed or implied by such forward-looking information. Such factors may include, but are not limited to: terms of operational service agreements with lottery corporations; changes to gaming laws that may impact our operational service agreements; pending, proposed or unanticipated regulatory or policy changes; impact of global liquidity and credit availability; adverse tourism trends and further decreases in levels of travel, leisure and consumer spending; competition from established competitors and new entrants in the gaming business; dependence on key personnel; the risk that systems, procedures and controls may not be adequate to support current and expanding operations; potential undisclosed liabilities and capital expenditures associated with acquisitions; negative connotations linked to the gaming industry; First Nations claims with respect to some Crown land on which we conduct our operations; future or current legal proceedings; construction disruptions; financial covenants associated with credit facilities and long-term debt; credit, liquidity and market risks associated with our financial instruments; interest and exchange rate fluctuations; non- realization of cost reductions and synergies; demand for new products and services; fluctuations in operating results; and economic uncertainty and financial market volatility. These factors and other risks and uncertainties are discussed in the Company’s continuous disclosure documents filed with the Canadian securities regulatory authorities from time to time, including in the “Risk Factors” section of the Company’s Annual Information Form for fiscal 2010, and as identified in the Company’s disclosure record on SEDAR at www.sedar.com. The forward-looking information in documents incorporated by reference speak only as of the date of those documents. Readers are cautioned not to place undue reliance on the forward-looking information, as there can be no assurance that the plans, intentions, or expectations upon which they are based will occur. The Company undertakes no obligation to publicly revise forward-looking information to reflect subsequent events or circumstances except as required by law. The forward-looking information contained herein is made as of the date hereof and is expressly qualified in its entirety by cautionary statements in this news release.