River Rock Casino Boosts Great Canadian Gaming
Great Canadian Gaming has recently posted its quarterly revenue. This is the highest quarterly revenue report that has come from the gambling company in its entire 32 years of operations. The high figures have been seen since the River Rock Casino has boosted Great Canadian Gaming's revenue substantially.
In the second quarter of 2013, ending on June 30th, the River Rock Casino hotel generated an income of $106 in revenue per available room night. In the June 30th, 2014 quarter, the revenue was increased to $128. In simple terms, the hotel occupancy was noticeably increased when compared to the same quarter in 2013. This huge increase in visitors to this Richmond hotel and casino has pushed Great Canadian Gaming's earnings to a new high.
River Rock Casino's Boost in Earnings
When traveling by the Canada Line, the River Rock Casino is conveniently located just five minutes away from the Vancouver International Airport. The Chief Executive Officer of Great Canadian Gaming, Rod Baker, has said in an interview that much of the additional revenue has come from a large number of wealthy Asian visitors to the casino hotel.
The revenue in the second quarter of 2014 went up a huge 33% to $53.8 million when compared to the second quarter of 2013. Before EBITDA, earnings before interest, taxes, depreciation and amortization, had risen by 54%, reaching $32.7 million. The increase that reached an average of $128 per available room per night revenue shows a 20.7% larger amount than in 2013.
Great Canadian Gaming reported a total revenue of $114.7 million, which is an increase in total earnings of 12% when compared to the same quarter just one year ago. The improved income is due in large part to the 76% rise in profit reported at the River Rock Casino.
During a conference call, Rod Baker commented on the increased revenue at the River Rock Casino, noting: "Vancouver continues to be an important place for our Asian demographic to either live or have families or invest."
Other Great Canadian Gaming Revenue
While River Rock Casino has been doing particularly well in its Vancouver location, there have been some weaker spots for the company in Nova Scotia and on Vancouver Island. There have also been some other shows of increased revenue for the company, such as at the Hard Rock Casino Vancouver, located in Coquitlam. The Hard Rock Casino showed a rise in revenue of 7% and an EBITDA rise of 29%.
