Great Canadian Gaming announces first quarter 2013 results

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[{"type":"text","content":"\n\n\n\n\n\nRICHMOND, BC, May 8, 2013 /CNW/ - Great Canadian Gaming Corporation [TSX:GC] (\"Great Canadian\" or \"the Company\") today announced its financial\n results for the three month period ended March 31, 2013 (\"first quarter\n of 2013\").\n\n\nFIRST QUARTER 2013 HIGHLIGHTS\n(Amounts presented in millions of Canadian dollars, except for per share\n information)\n\n\n\nRevenues of $100.5 million and EBITDA(1) of $38.3 million in the first quarter, both a 2% decrease when compared\n to the first quarter of 2012\n\n\n\n\nNet earnings of $31.3 million in the first quarter, primarily due to\n long-lived asset impairment reversals totalling $28.5 million\n\n\n\n\nAdjusted net earnings(2) of $11.1 million, an 8% decrease when compared to the prior year\n\n\n\n\nRepurchased and cancelled 2.5 million common shares at an average price\n of $9.32 during March and early April 2013\n\n\n\n\n\n\n\n\n \n\n\n \n\n\nFirst Quarter\n\n\n\n\n \n\n\n \n\n\n \n\n\n2013\n\n\n \n\n\n2012\n\n\n% Chg\n\n\n\n\nRevenues\n\n\n \n\n\n$\n\n\n100.5\n\n\n $\n\n\n102.8\n\n\n(2%)\n\n\n\n\nEBITDA (1)\n\n\n \n\n\n $\n\n\n38.3\n\n\n $\n\n\n39.0\n\n\n(2%)\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nEBITDA as a % of Revenues\n\n\n \n\n\n \n\n\n38.1%\n\n\n \n\n\n37.9%\n\n\n \n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nNet earnings (loss)\n\n\n \n\n\n $\n\n\n31.3\n\n\n $\n\n\n(31.9)\n\n\n \n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nNet earnings (loss) per common share\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\n \n\n\nBasic\n\n\n \n\n\n $\n\n\n0.44\n\n\n $\n\n\n(0.39)\n\n\n \n\n\n\n\n \n\n\nDiluted\n\n\n \n\n\n $\n\n\n0.44\n\n\n $\n\n\n(0.39)\n\n\n \n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nAdjusted net earnings (1), (2)\n\n\n \n\n\n $\n\n\n11.1\n\n\n $\n\n\n12.0\n\n\n(8%)\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nTotal assets\n\n\n \n\n\n $\n\n\n892.8\n\n\n $\n\n\n917.1\n\n\n(3%)\n\n\n\n\...

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