GREAT CANADIAN GAMING COMPLETES AMENDMENT AND EXTENSION OF REVOLVING CREDIT FACILITY

July 21, 2011 – Richmond, BC – Great Canadian Gaming Corporation *TSX:GC+ (“the Company”) today announced it has completed an amendment of its February 14, 2007 Credit and Guarantee Agreement (“Credit Agreement”) which covers the terms of its Revolving Credit Facility and Senior Secured Term Loan B. Consequently, the Company’s previous undrawn CAD $200 million Revolving Credit Facility that was to expire on February 14, 2012 has been increased to a maximum limit of CAD $350 million and extended to July 21, 2016. The amount and maturity of the Company’s Senior Secured Term Loan B remain unchanged by this amendment.

The Company’s Senior Secured Term Loan B and its amended Revolving Credit Facility are secured by substantially all of the Company’s and its subsidiaries’ assets, including its contractual arrangements with various provincial gaming corporations. The amended undrawn Revolving Credit Facility will be used for general corporate purposes.

“We have strong relationships with each of our major Canadian banks that have participated in the amended and extended Revolving Credit Facility,” stated Ross J. McLeod, Great Canadian’s Chairman and Chief Executive Officer. “Since 2009, the Company has consistently increased the margins on its financial covenants related to its long-term debt under the Credit Agreement, which has contributed to reduced financing costs. The current capital structure allows the Company to maintain a low weighted average cost of capital and will ensure the Company is poised to take advantage of value-creating opportunities in its chosen markets as they arise.”

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 horse racing 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.

DISCLAIMER

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

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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 2010, 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.

ON BEHALF OF GREAT CANADIAN GAMING CORPORATION
“Original Signed by Rod N. Baker”

Rod N. Baker
President

GREAT CANADIAN GAMING CORPORATION [TSX: GC] Suite #350 – 13775 Commerce Parkway
Richmond, BC, V6V 2V4 (604) 303-1000
Website: www.gcgaming.com

For media enquiries:
Mr. Howard Blank
Vice-President, Communications, Entertainment & Responsible Gaming
(604) 512-6066

For investor enquiries: Email: ir@gcgaming.com or
Ms. Tanya Ruskowski
Executive Assistant to the President and the Interim Chief Financial Officer
(604) 303-1000