Business
Great Canadian Gaming announces second quarter 2014 results
RICHMOND, BC , Aug. 13, 2014 /CNW/ - Great Canadian Gaming Corporation [TSX:GC] ("Great...
About this update from Goldcana Resources Inc.
[{"type":"text","content":"\n\nRICHMOND, BC, Aug. 13, 2014 /CNW/ - Great Canadian Gaming Corporation [TSX:GC] (\"Great Canadian,\" or \"the Company\") today announced its financial results for the three month period ended June 30, 2014 (the \"second quarter of 2014\").\n\nSECOND QUARTER 2014 HIGHLIGHTS\n\n\nRevenues and EBITDA(1) increased by 12% and 30%, respectively, to $114.7 million and $49.5 million, both the highest in Great Canadian's history.  Excluding non-recurring revenues in the prior year period, Revenues and EBITDA increased $14.0 million, or 14%, and $12.9 million, or 35%, respectively.\nNet earnings of $19.9 million, a 76% increase when compared to the second quarter of 2013.\nAdjusted net earnings(1) of $19.9 million, a 91% increase when compared to the second quarter of 2013. \nRevenues and EBITDA at River Rock Casino Resort increased by 33% and 54%, respectively, to $53.8 million and $32.7 million, both the highest in the property's history.\nRevenues and EBITDA at Hard Rock Casino Vancouver increased by 7% and 29%, respectively, to $13.5 million and $4.5 million.\nGreat Canadian exercised its renewal option with the Nova Scotia Provincial Lotteries and Casino Corporation (\"NSPLCC\") to extend the Company's casino operating contract for 10 years beyond July 1, 2015. \n(Amounts presented in millions of Canadian dollars, except for per share information)\n\n\n\n\n\nSecond Quarter\n\n\n\nFirst Half\n\n\n\n\n2014\n\n\n2013\n\n\n% Chg\n\n\n\n2014\n\n\n2013\n\n\n% Chg\n\n\n\nRevenues\n\n\n$\n\n\n114.7\n\n\n$\n\n\n102.1\n\n\n12%\n\n\n\n$\n\n\n218.5\n\n\n$\n\n\n202.6\n\n\n8%\n\n\n\nEBITDA (1)\n\n\n$\n\n\n49.5\n\n\n$\n\n\n38.0\n\n\n30%\n\n\n\n$\n\n\n87.6\n\n\n$\n\n\n76.3\n\n\n15%\n\n\n\n\n\n\n\n\n\n\n\n\nEBITDA as a % of Revenues\n\n\n43.2%\n\n\n37.2%\n\n\n\n\n40.1%\n\n\n37.7%\n\n\n\n\n\n\n\n\n\n\n\n\n\nNet earnings \n\n\n$\n\n\n19.9\n\n\n$\n\n\n11.3\n\n\n76%\n\n\n\n$\n\n\n36.9\n\n\n$\n\n\n42.6\n\n\n(13%)\n\n\n\n\n\n\n\n\n\n\n\n\nNet earnings per common share\n\n\n\n\n\n\n\n\n\n\n\nBasic\n\n\n$\n\n\n0.29\n\n\n$\n\n\n0.17\n\n\n\n\n$\n\n\n0.55\n\n\n$\n\n\n0.61\n\n\n\n\n\nDiluted\n\n\n$\n\n\n0.29\n\n\n$\n\n\n0.16\n\n\n\n\n$\n\n\n0.53\n\n\n$\n\n\n0.60\n\n\n\n\n\n\n\n\n\n\n\n\n\nAdjusted net earnings (1) \n\n\n$\n\n\n19.9\n\n\n$\n\n\n10.4\n\n\n91%\n\n\n\n$\n\n\n33.2\n\n\n$\n\n\n21.6\n\n\n54%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nJune 30,\n\n2014\n...