Great Canadian Gaming Corporation
TSX : GCD

Great Canadian Gaming Corporation

October 05, 2005 15:56 ET

Great Canadian Gaming Corporation: Hastings Racecourse Development Continues to Move Forward

RICHMOND, BRITISH COLUMBIA--(CCNMatthews - Oct. 5, 2005) - Great Canadian Gaming Corporation (the "Company") (TSX:GCD) reports that its wholly owned subsidiary, Hastings Entertainment Inc. ("HEI") has achieved a milestone in its proposed development of the Hastings Racecourse. On October 4, 2005, the City of Vancouver Council approved the public benefits package proposed by HEI for Hastings Racecourse and the surrounding community. The approval of Council was a requisite condition in the development process being undertaken by HEI. The Company is pleased that the development process has now completed this significant condition.

On October 24, 2005, development plans for the installation of 600 slot machines at Hastings Racecourse, together with associated improvements to the facility, will be presented to the City of Vancouver's Development Board for approval.

"Given the community involvement in the proposed development of Hastings Racecourse, we are happy that City of Vancouver has approved our plans for integration of the development into the local community with the public benefits proposal approved," said Anthony Martin, President and Chief Operating Officer of the Company. The development of Hastings Racecourse remains subject to the issuance of a development permit and the conclusion of the form of operating agreement between HEI and the City of Vancouver, the owner of the Hastings Racecourse lands. The Company hopes to conclude the development permit approval process and operating agreement before year end.

About Hastings Racecourse

Hastings Racecourse is a landmark thoroughbred racetrack located in Vancouver, British Columbia. The facility features live thouroughbred racing, simulcast viewing of national and international horseracing, and a wide array of food and beverage options. In operation for more than a century, Hastings Racecourse is truly a part of Vancouver's history.

About Great Canadian Gaming Corporation

Great Canadian, home to approximately 5,000 employees, is a multi-jurisdictional gaming and entertainment operator with facilities in British Columbia, Nova Scotia, Ontario and Washington State. Great Canadian operates casinos, thoroughbred and standardbred racecourses, a community gaming centre and various food and beverage and entertainment facilities.

ON BEHALF OF GREAT CANADIAN GAMING CORPORATION

Thomas Bell, Vice President, Corporate Development and Investor Relations

Contact Information

  • Great Canadian Gaming Corporation
    Thomas Bell
    Corporate Contact
    (604) 303-1000
    (604) 279-8605 (FAX)
    or
    Great Canadian Gaming Corporation
    Howard Blank
    Media Contact
    (604) 512-6066
    (604) 279-8605 (FAX)
    www.gcgaming.com