Great Canadian Gaming Reports Increased Revenues
Great Canadian Gaming announced its third quarter results of 2010, showing a $96.3 million increase in revenues.
River Rock Casino Resort reported increased revenues of $3.7 million, compared to the same quarter last year.
There were a number of factors that influenced this increase such as the opening of the Canada Line transit system.
In addition, the casino resort went through a number of redevelopments and enhancements during the fourth quarter of 2009 and the beginning of 2010.
As a result, revenues in both the gaming and hospitality sectors of River Rock Casino Resort improved significantly.
Other properties didn't do as well as River Rock, including the BC Racinos and the Boulevard Casinos.
"Great Canadian's financial results for the third quarter of 2010 provide an accurate picture of both the strengths and weaknesses currently present within our business," said the Chairman and CEO of Great Canadian Gaming, Ross J. McLeod.
"While the River Rock Casino Resort once again produced significant top-line growth, many of our other properties continue to experience obstacles to revenue recovery within their respective markets," he said. "Most notable among these is the Boulevard Casino, where construction disruption, the economy, and competition have combined to create persistent revenue pressure."
He said as a result of these financial statistics, the group has decided to commence construction of River Rock's third tower, which should open in the fourth quarter of 2011.
