Business
Great Canadian Gaming reaches definitive agreements for transition funding for horse racing at Georgian Downs and Flamboro Downs
RICHMOND , BC, May 24, 2013 /CNW/ - Today, Great Canadian Gaming Corporation [TSX:GC] ...
About this update from Goldcana Resources Inc.
[{"type":"text","content":"\n\n\nRICHMOND, BC, May 24, 2013 /CNW/ - Today, Great Canadian Gaming\n Corporation [TSX:GC] (\"Great Canadian\" or \"the Company\") announced that it has signed\n definitive agreements with the Government of Ontario for horse racing\n transition funding. This funding will provide support to continue horse\n racing at the Company's Georgian Downs and Flamboro Downs racetracks\n for up to two years beyond March 31, 2013 as Ontario's horse racing\n industry adapts to a more sustainable model.\n\n\nUnder the terms of these agreements, the Company will receive transition\n funding from the provincial government for track operations at its\n Georgian Downs and Flamboro Downs racetracks. In the twelve months\n ended March 31, 2014, the Company expects that Georgian Downs will run\n approximately 25 race days over a three-month period and Flamboro Downs\n will run approximately 100 race days over a six-month period. The exact\n numbers of race days are subject to approval by the Ontario Racing\n Commission.\n\n\n\"Thanks to the efforts of both the Ontario Ministry of Agriculture and\n Food and the Ministry of Finance, we are pleased to be able to continue\n to host live horse racing fans at Flamboro Downs and Georgian Downs,\"\n stated Mr. Howard Blank, Great Canadian's Vice President of\n Communications, Entertainment and Responsible Gaming. \"The finalization\n of these agreements is good news for the short term future of horse\n racing in Ontario. We are committed to working with the Provincial\n Government and the Province's horse racing industry to pursue a longer\n term, more sustainable business model for horseracing in Ontario.\"\n\n\nABOUT GREAT CANADIAN GAMING CORPORATION \n\n\nGreat Canadian Gaming Corporation operates gaming, entertainment and\n hospitality facilities in British Columbia, Ontario, Nova Scotia and\n Washington State.  The Company's 17 gaming properties consist of ten\n casinos, including one with a Four Diamond hotel resort, four horse\n racetrack casinos, and three community gaming centres. As of March 31,\n 2013, the Company had approximately 3,900 employees in Canada and 600\n in Washington State. Further information is available on the Company's\n website, www.gcgaming.com.\n\n\nDISCLAIMER\n\n\nThis press release contains certain \"forward-looking information\" or\n statements within the meaning of ...