August 10, 2016 – Coquitlam, BC – Great Canadian Gaming Corporation [TSX:GC]
(“Great Canadian,” or “the Company”) today announced its financial results for the three
month period ended June 30, 2016 (the “second quarter”).
SECOND QUARTER 2016 HIGHLIGHTS
- Revenues of $140.2 million, a 25% increase when compared to the same period in the prior year.
- Adjusted EBITDA(1) of $55.3 million, an 18% increase when compared to the same period in the prior
- Adjusted shareholders’ net earnings(1) of $23.7 million, a 19% increase when compared to the same
period in the prior year.
- Repurchased and cancelled 4.7 million common shares at an average price of $17.57, increasing the
ownership percentage of existing shareholders by 7.8%.
- Construction is proceeding ahead of schedule for a new Shorelines Casino in Belleville, Ontario. The
Company anticipates completing construction of this property by the end of 2016.