RED DEER, ALBERTA--(Marketwired - July 18, 2016) - Gamehost Inc. (the "Company"), (TSX:GH)
Boomtown Casino in Fort McMurray re-opened for regular business at 10:00AM Friday July 15, 2016. The casino has been closed since a civic evacuation order was issued on May 3, 2016 due to an area wildfire that threatened the city.
News of the eventual devastation caused by the wildfire reached all corners of the globe. Losses from the wildfire are now confirmed as the single largest catastrophic event in Canadian history.
The Company has full property coverage and 18 months business profits coverage through a leading North American insurance provider. Since the date of loss, the Company has been working in concert with our insurer to minimize losses and to re-open the facility in a safe and timely fashion.
The Company, along with our insurer, first gained access to the property on June 1, 2016. At that time, substantial smoke and heat damage was confirmed. Since that date, a tremendous effort has been made by key employees, our insurer and a host of specialized contractors to remediate damages and prepare for re-opening. The Company extends sincere appreciation to these individuals and companies for a highly commendable effort. This appreciation will be shared by the Alberta Gaming and Liquor Commission and numerous Alberta charities who depend on Boomtown Casino for operating funds.
This press release may contain certain "forward-looking information" or statements within the meaning of applicable securities legislation and may contain words such as "anticipates", "believes", "could", "expects", "indicates", "plans", "withstand", "further" or other similar expressions that suggest future outcomes or events. 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 any statements that address expectations related to future economic outcomes or the Company's dividend. Forward-looking statements reflect reasonable assumptions made on the basis of management's current beliefs with information known by management at the time of writing. Many factors could cause actual results to differ from the results discussed in forward-looking statements. Actual results may not be consistent with these forward-looking statements.
Gamehost is a corporation established under the laws of the Province of Alberta. The Company's operations are all located in the Province of Alberta, Canada. Operations of the Company include the Boomtown Casino in Ft. McMurray, the Great Northern Casino, Service Plus Inns & Suites hotel and a strip mall all located in Grande Prairie. The Company also holds a 91% ownership position in Deerfoot Inn & Casino Inc. in Calgary.
Additional information on Gamehost can be found on the Company's website at www.gamehost.ca and on SEDAR at www.sedar.com.
Gamehost common shares trade on the Toronto Stock Exchange (TSX) under the symbol GH.