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Great Canadian Gaming Announces Update on the Status of its Properties

CNW Group - Fri Sep 4, 4:00PM CDT

Great Canadian Gaming Announces Update on the Status of its Properties

Canada NewsWire

TORONTO , Sept.   4, 2020 /CNW/ -   Great Canadian Gaming Corporation   (TSX:GC.TO)   ("Great Canadian" or "the Company") provided today an update on the status of the Company's 25 operations across Canada .  On March 16, 2020 , Great Canadian suspended operations at all its properties to contribute to the containment of COVID-19.

In Ontario , Great Canadian will be reopening its 11 properties on September 28, 2020 as part of Ontario's Stage 3 framework for the reopening of its economy. As part of that framework, the Company will be adhering to provincial guidelines, which include indoor gathering limits up to a maximum of 50 guests, and will not include the operation of table games or other amenities.

In New Brunswick , the Company will be reopening its Casino New Brunswick property on September 28, 2020 as part of New Brunswick's "COVID-19 recovery plan." The reopening of the property will be premised upon following prescriptive operational plans and protocols developed by the Company, including reduced facility guest capacity to approximately 25%, the availability of just over 50% of the property's slot machines, and the suspension of most amenities.

In Nova Scotia , where casinos have been granted the ability to reopen, the Company continues to work with the Nova Scotia Gaming Corporation on preparations required for the reopening of the Company's two Nova Scotia properties.

In British Columbia , Great Canadian's properties remain closed as mandated by the provincial government.

"I'm pleased we are able to safely reopen our facilities in Ontario and New Brunswick , allowing us to bring back to work team members in each province," stated Rod Baker , the Company's Chief Executive Officer.

"Once open, gaming revenues in each jurisdiction will be significantly reduced due to operating restrictions," Baker continued. "The reductions will be especially significant for our Ontario properties where, due to the 50-guest maximum restriction, we expect no material financial benefit to the Company from our 11 Ontario locations."

"In B.C., no approval has been granted for casinos to reopen, and as such, the Company will continue to manage its assets in the closed state," Baker concluded.

ABOUT GREAT CANADIAN GAMING CORPORATION
Founded in 1982, Great Canadian Gaming Corporation is an Ontario based company that operates 25 gaming, entertainment and hospitality facilities in Ontario , British Columbia , New Brunswick , and Nova Scotia . Fundamental to the Company's culture is its commitment to social responsibility. "PROUD of our people, our business, our community" is Great Canadian's brand that unifies the Company's community, volunteering and social responsibility efforts. Under the PROUD program, Great Canadian annually supports over 1,400 charitable and non-profit organizations across Canada . In each Canadian gaming jurisdiction, a significant portion of gross gaming revenue from gaming facilities is retained by our Crown partners on behalf of their provincial government for the purpose of supporting programs like healthcare, education and social services.

Great Canadian Gaming Corporation
39 Wynford Drive
North York, ON
M3C 3K5
Website: www.gcgaming.com

SOURCE Great Canadian Gaming Corporation

Cision View original content: http://www.newswire.ca/en/releases/archive/September2020/04/c1692.html

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