Great Canadian Gaming Posts FY 2019 and Q4 Results
According to available information, the gaming company generated C$1.36 billion in revenue, representing an improvement of 15% when compared to 2018. At the same time, it recorded C$357.4 in revenue during the last three months of 2019, which is 8% more than in the same period of 2018.
A Successful Year for the Gaming Giant
When speaking about the adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), it also managed to improve from C$117.8 million in Q4 2018 to C$152 million in Q4 2019.
For the entire year, the adjusted EBITDA amounted to C$557.3 million, increasing its size from 2018.
Great Canadian Gaming also announced an increase in revenue for the last fiscal year, significantly improving from C$466 million in fiscal 2018. The fourth quarter of fiscal 2019 was a very busy period for the company. In mid-December, Great Canadian Gaming appointed Matthew Anfinson as the new Chief Operating Officer, marking a new phase in the development of the company.
When it comes to 2020, Great Canadian Gaming is expecting another successful year for its gaming operators. A month ago, the gaming giant announced it planned to buy up to C$500 of its common shares for the company’s shareholders. According to the information provided by the company, the current offer for this plan will be available until March 20.
New Projects Ready for 2020
The latest financial results were revealed earlier this month, during a conference call held on March 3. Rod N. Baker, the company’s Chief Executive Officer, Matthew Anfinson, Chief Operating Officer, and Terrance Doyle, President, Strategic Growth and Chief Compliance Officer were present during the call, as Great Canadian Gaming offered detailed insight into its results and goals during the twelve-month period that ended on December 31, 2019, as well as in the year’s fourth quarter.
This year should be an important one for the Canadian gaming giant, as its list of plans includes the opening of a new casino resort in Pickering. The Pickering Casino resort project is only a part of a much bigger development project, which should encompass several phases. If everything goes through as planned, the new casino venue will open its doors to customers in April, bringing Las Vegas-style casino gaming to Ontario.
Commenting on the latest results, Rod Baker, CEO at Great Canadian Gaming, said 2019 had been a very productive year while pointing out the arrival of Matt Anfinson to the company’s executive team. Baker pointed out that Anfinson’s experience would be crucial in the further development of launch strategies.
About Great Canadian Gaming Corporation
Founded back in 1982, Great Canadian Gaming has since become a true leader in the gaming industry.
Today, the company operates a total of 25 facilities located in several provinces across Canada, including Ontario, New Brunswick, British Columbia and Nova Scotia.