Business
Gamehost Announces Second Quarter 2021 Financial Results
Not intended for distribution to U.S. newswire services or for dissemination in the U.S. ...
About this update from Gamehost Inc.
[{"type":"text","content":"Gamehost Announces Second Quarter 2021 Financial ResultsNot intended for distribution to U.S. newswire services or for dissemination in the U.S. RED DEER, AB / ACCESSWIRE / August 10, 2021 / Gamehost Inc. (TSX:GH) Management and Directors of Gamehost Inc. (the \"Company\") present results for the six and three month periods ended June 30, 2021 (the \"Period\" and \"Quarter\" respectively).In year-over-year comparison for the Quarter, operating revenue was up 61.1% from $1.8 to $2.9, EBITDA swung to a positive $0.8 from a loss in the prior year quarter. A net loss per share for the Quarter of $0.02 per share was reduced from $0.06 per share for the same quarter in 2020.Two of the Company's three casinos reopened in June 2021 when milestones were reached for Stage 2 of the Government of Alberta's (\"GOA\") \"Open for Summer\" economic reopening plan. Stage 2 allowed for all gaming activities at one third of fire code capacity and a resumption of indoor dining to a maximum of six per table with a continuation of mask use and physical distancing measures. Great Northern Casino in Grande Prairie opened June 10, 2021 for 21 operating days in the Quarter. Deerfoot Casino delayed reopening to June 18, 2021 to accommodate ongoing construction and operated for 13 days in the Quarter. The Company's three hotels were open throughout the Quarter continuing to operate under restrictions that limit service to appointment only check-in and COVID-19 protocols for breakfast and dining room service.The province reached infection and hospitalization targets as well as the required days between stages for Stage 3 of the GOA reopening plan on July 1, 2021, Canada Day. On that day, all COVID-19 restrictions were removed, and all Company operations resumed full operations with the following notable exceptions. Boomtown Casino delayed reopening to accommodate ongoing construction activity. It reopened July 6, 2021 as the rebranded Rivers Casino & Entertainment Centre coinciding with a first inside look for patrons at the major expansion project underway. Dining and live entertainment venues within the casino remain closed and gaming capacity is reduced while construction progresses. A second construction project progressing at Deerfoot Casino is temporarily reducing slot and table capacity and poker is not currently offered. The casino's showroom, c...