Great Canadian Gaming Corporation
TSX : GC

Great Canadian Gaming Corporation

May 01, 2008 12:56 ET

Great Canadian Gaming Provides Summary of Comments Made by COO Vincent Trudel at Canadian Gaming Summit

RICHMOND, BRITISH COLUMBIA--(Marketwire - May 1, 2008) - Great Canadian Gaming Corporation (TSX:GC) (the "Company") announced that Chief Operating Officer Vincent Trudel participated today in a panel discussion at the annual Canadian Gaming Summit at the Palais des Congres, Montreal, Quebec.

In addressing analysts and industry peers during the panel titled "Canadian Gaming Industry CEO Roundtable", Mr. Trudel discussed both the current Canadian gaming landscape and Great Canadian's resulting opportunities. His comments are summarized below:

- On a macro-basis, Mr. Trudel stated that based on visitation levels, gaming volumes, and other market indicators, Canadian gaming jurisdictions in general have yet to witness a negative impact due to economic conditions. This stands in contrast to many American regional and major market jurisdictions, where recent economic conditions have combined to produce a revenue downturn. Mr. Trudel stated the Canadian gaming market is an independent one, and that he anticipates this will remain the case.

- Relative to other more established gaming markets such as the U.S. and Australia, the Canadian gaming market is still in its formative stages and as such continues to both record strong growth and possess attractive characteristics for future growth. A stable real estate market, improving player demographics, and an increasing yet controlled supply of quality casino properties are among the factors contributing to this trend.

- The Canadian gaming operators and the provincial crown corporations in each province benefit from a regulatory structure that provides for limited competition through measured supply growth. In addition, in several markets, operators, their provincial partners and gaming patrons benefit from the development of properties made possible by a capital expenditure reimbursement model.

- Reflecting these trends and favorable market characteristics, Great Canadian has established a diverse pipeline of development projects. This pipeline aligns with the vision of provincial partners, who are seeking to develop higher quality properties featuring exceptional entertainment amenities that are appropriately sized to serve increasing levels of patronage. As an example, Great Canadian is in the process of developing new parking, hotel and other non-gaming offerings at one of its flagship properties, River Rock Casino Resort, to coincide with the expected high level of visitation associated with the 2010 Vancouver Olympics.

Mr. Trudel possesses 26 years of regional casino and lottery management experience in Canada and Europe. Prior to joining Great Canadian in 2006, Mr. Trudel served as General Manager of Societe des Loterie Video, a subsidiary of Loto-Quebec, and was General Manager for Grupo Perelada, a privately-held Spanish company operating in various sectors including gaming and hospitality. In 1992, Mr. Trudel developed the initial proposal for the Casino de Montreal in Quebec, Canada. Once approved, Mr. Trudel was named President of the newly created Societe des Casinos du Quebec, a subsidiary of Loto-Quebec. Mr. Trudel served in this capacity until 1998, and was responsible for the development, implementation and operation of the three casinos in the province.

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.

ON BEHALF OF GREAT CANADIAN GAMING CORPORATION

Thomas Bell, Vice President, Corporate Development and Investor Relations

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 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 2006, 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.

Contact Information

  • Great Canadian Gaming Corporation - Investor Enquiries
    Mr. Thomas Bell
    Vice-President, Corporate Development & Investor Relations
    (604) 303-1000
    (604) 279-8605 (FAX)
    or
    Jaffoni & Collins Incorporated - Investor Enquiries
    Mr. Richard Land
    (212) 835-8500
    or
    Jaffoni & Collins Incorporated - Investor Enquiries
    Mr. David Jacoby
    (212) 835-8500
    Email: GC@jcir.com
    or
    Great Canadian Gaming Corporation - Media Enquiries
    Mr. Howard Blank
    Vice-President, Media & Entertainment
    (604) 512-6066
    Website: www.gcgaming.com