Mr. Rod Baker reports

GREAT CANADIAN GAMING ANNOUNCES SECOND QUARTER 2014 RESULTS

Great Canadian Gaming Corp. has released its financial results for the three-month period ended June 30, 2014.

Second quarter 2014 highlights:

• Revenues and EBITDA (earnings before interest and financing costs (net of interest income), income taxes, depreciation and amortization, share-based compensation, reversals of impairments of long-lived assets, restructuring and other, and foreign exchange gain and other) increased by 12 per cent and 30 per cent, 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 per cent, and $12.9-million, or 35 per cent, respectively;
• Net earnings of $19.9-million, a 76-per-cent increase when compared with the second quarter of 2013;
• Adjusted net earnings of $19.9-million, a 91-per-cent increase when compared with the second quarter of 2013;
• Revenues and EBITDA at River Rock Casino Resort increased by 33 per cent and 54 per cent, respectively, to $53.8-million and $32.7-million, both the highest in the property's history;
• Revenues and EBITDA at Hard Rock Casino Vancouver increased by 7 per cent and 29 per cent, respectively, to $13.5-million and $4.5-million;
• Great Canadian exercised its renewal option with the Nova Scotia Provincial Lotteries and Casino Corp. (NSPLCC) to extend the company's casino operating contract for 10 years beyond July 1, 2015.

                   SECOND QUARTER 2014 HIGHLIGHTS
         (Amounts presented in millions of Canadian dollars,
                 except for per-share information)

                                  Second quarter        First half
                                  2014      2013      2014      2013

Revenues                       $ 114.7   $ 102.1   $ 218.5   $ 202.6
EBITDA (1)                     $  49.5   $  38.0   $  87.6   $  76.3
EBITDA as a percentage
of revenues                       43.2%     37.2%     40.1%     37.7%
Net earnings                   $  19.9   $  11.3   $  36.9   $  42.6
Net earnings per common share
Basic                          $  0.29   $  0.17   $  0.55   $  0.61
Diluted                        $  0.29   $  0.16   $  0.53   $  0.60
Adjusted net earnings (1)      $  19.9   $  10.4   $  33.2   $  21.6

(1) EBITDA and adjusted net earnings are non-IFRS (international 
    financial reporting standards) measures.

Great Canadian recorded revenues of $114.7-million during the second quarter of 2014, a $12.6-million or 12-per-cent increase from the second quarter of 2013. EBITDA during the second quarter of 2014 was $49.5-million, an $11.5-million or 30-per-cent increase from the second quarter of 2013. EBITDA as a percentage of revenues for the second quarter of 2014 was 43.2 per cent, a 6.0-percentage-point increase from the second quarter of 2013. Both the revenues and EBITDA increases were primarily due to record quarterly performance at River Rock Casino Resort. The company's Hard Rock Casino Vancouver also delivered a meaningful quarterly improvement. These increases were partially offset by declines at the company's Nova Scotia casinos and Vancouver Island casinos, as well as a one-time, non-recurring FDC payment of $700,000 to the British Columbia Racinos and a one-time, non-recurring payment of $700,000 to the Ontario Race Tracks, both of which were received during the second quarter of 2013. Excluding these non-recurring revenues from the prior year, revenues in the second quarter of 2014 increased by $14.0-million, or 14 per cent, and EBITDA increased by $12.9-million, or 35 per cent, when compared with the same period in 2013.

River Rock's revenues of $53.8-million and EBITDA of $32.7-million were the highest in the property's history, increasing by 33 per cent and 54 per cent, respectively, when compared with the second quarter of 2013.

Great Canadian recorded net earnings of $19.9-million during the second quarter of 2014, an $8.6-million increase when compared with the second quarter of 2013. This increase was primarily due to growth in EBITDA.

"Great Canadian's financial results this quarter were led by the strong performance at River Rock and a turnaround in performance at the new Hard Rock Casino Vancouver," stated Rod N. Baker, Great Canadian's president and chief executive officer. "The second quarter marked River Rock's 10-year anniversary, and the property celebrated by achieving record results, once again generating significant growth in both gaming and hospitality revenues. Since the fourth quarter of 2011, River Rock's quarterly table drop has increased at a compound annual rate of 31.9 per cent, while its table hold has increased at a compound annual rate of 37.5 per cent. We are pleased with these results and look forward to River Rock continuing to build upon this momentum.

"Although River Rock served as the primary contributor to Great Canadian's strong second quarter, we are also encouraged by the performance of Hard Rock Casino Vancouver. The property has steadily gained in popularity since its relaunch last December, and its quarterly results are a testament to its growing status as one of Vancouver's premier entertainment destinations. We believe that there is considerable potential for further improvement at this property and will continue our efforts to increase its traffic.

"In June of 2014, Great Canadian exercised its renewal option with NSPLCC to extend the term of its operating contract for the Nova Scotia casinos for an additional 10 years beyond July 1, 2015. We will invest $10-million of capital in these properties by the end of 2015 in order to enhance our guests' entertainment experiences. We are proud to continue our relationship with NSPLCC and look forward to building upon the success we have experienced in Nova Scotia.

"With our strong cash balance and our undrawn revolving credit facility, Great Canadian remains financially prepared to take advantage of new opportunities for value creation," concluded Mr. Baker. "This includes any opportunities that may arise from Ontario's plans to modernize gaming. While we pursue these potential opportunities, we will continue to efficiently manage our operations and look for other ways to continue to grow our business."

Great Canadian will host a conference call for investors and analysts today, Aug. 13, 2014, at 2 p.m. Pacific Time, in order to review the financial results for the period ended June 30, 2014. To participate in the conference call, please dial 416-764-8688 or toll-free at 888-390-0546 (passcode: 04968575). Questions will be reserved for institutional investors and analysts. Interested parties may also access the call via the investor relations section of the company's website. Investors using the website should allow 15 minutes for the registration and installation of any necessary software. A replay of the call will also be available at the company's website.

Please refer to the condensed interim consolidated financial statements, and management's discussion and analysis (MD&A) at the company's website (available on Aug. 13, 2014) or SEDAR (available on Aug. 14, 2014) for detailed financial information and analysis.

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