Gamehost Inc.
TSX : GH

Gamehost Inc.

June 10, 2016 08:00 ET

Gamehost Updates Progress on Reopening in Fort McMurray

RED DEER, ALBERTA--(Marketwired - June 10, 2016) - Gamehost Inc. ('Gamehost', the 'Company') (TSX:GH) reports that re-entry to the Boomtown Casino in Fort McMurray took place on June 1, 2016. The re-entry was attended by four Company representatives including our Chief Operations Officer and VP together with the casino's General Manager and Assistant General Manager. Representatives from the Alberta Gaming and Liquor Commission, the Company's insurer and independent experts in catastrophe remediation also attended.

The re-entry confirmed the evidence of smoke damage and some heat damage caused by heating units that ran continuously. Based on the confirmation, the Company's property and business interruption claim has been amended from a cause by civic evacuation to a cause by fire and smoke. Accordingly, the non-coverage period has been reduced from 72 hours to 24 hours. The Company has full coverage for property damage as well as coverage for lost profits, continuing costs and extra costs incurred as a result of the fire for a period of up to 18 months.

Remediation work began on June 4, 2016. Presently there are 40-50 professionals onsite cleaning every square foot of space and all equipment from ceiling to floor. Cleaning and neutralizing air quality will continue into July.

Initial assessments of electronic equipment show minimal damage with any repairs expected to be completed on site. Until timelines for remediation of carpets and fabrics are confirmed, our best estimate for a re-opening is mid-July.

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 has a 91% controlling interest in Deerfoot Inn & Casino Inc. who operates the Deerfoot Inn & Casino in S.E. Calgary.

Gamehost common shares trade on the Toronto Stock Exchange (TSX) under the symbol GH. For more information, visit www.gamehost.ca. Complete disclosure of the Company can be found on SEDAR at www.sedar.com.

The TSX does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Gamehost Inc.
    Craig M. Thomas
    (403) 346-4545 or Toll Free: (877) 703-4545
    (403) 340-0683 (FAX)

    Gamehost Inc.
    Darcy J. Will
    (403) 346-4545 or Toll Free: (877) 703-4545
    (403) 340-0683 (FAX)
    info@gamehost.ca
    www.gamehost.ca