July 29, 2008 – Richmond, BC – Great Canadian Gaming Corporation [TSX:GC] (the “Company”) announced today that it will open a permanent gaming and entertainment facility, located in the grandstand of its Hastings Racecourse (“Hastings”), on August 15, 2008. This approximately 42,000 square foot facility will house a sports and entertainment lounge, new food and beverage options, and a modern gaming floor featuring 600 slot machines. These machines will replace the 150 temporary units currently installed at the property.
Construction on non-gaming components of the facility will continue throughout 2009. The Company had previously announced a budget of $40.0 million for this stage of Hastings development, and anticipates that the cost of these renovations will remain within this projection.
“We’re very excited about opening Hastings,” stated Vincent Trudel, Great Canadian’s Chief Operating Officer. “This historic racetrack is a Vancouver landmark, and the installation of these brand new gaming offerings will allow it to offer its patrons a complete entertainment experience.”
Mr. Trudel added, “Hastings will experience a ramp-up period before these new gaming offerings reach maturity. This period may be longer than those typically associated with the introduction of new gaming products to a market, as Hastings could potentially experience continued disruption from ongoing construction. However, we’ve already begun to increase our marketing initiatives in an effort to accelerate this ramp-up period. We’re also pleased at the timing of this opening, which is sooner than originally projected. We will now have a full complement of slot machines in operation during the current live racing season.”
ABOUT GREAT CANADIAN
Great Canadian Gaming Corporation is a multi-jurisdictional gaming and entertainment operator with operations in British Columbia, Ontario and Nova Scotia, Canada, and Washington State. The Company operates ten casinos, five horseracing facilities (three 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 hospitality outlets. Further information is available on the Company’s website, www.gcgaming.com.
For further information, please contact:
Company Media Investor Relations
Thomas Bell Howard Blank Richard Land, Dave Jacoby
(604) 303-1000 (604) 512-6066 Jaffoni & Collins
Fax: (604) 279-8605 (212) 835-8500