Mr. Rod Baker reports

GREAT CANADIAN GAMING ANNOUNCES FOURTH QUARTER AND ANNUAL 2014 RESULTS

Great Canadian Gaming Corp. has released its financial results for both the three-month period (fourth quarter) and the 12-month period ended Dec. 31, 2014.

Fourth quarter and 2014 highlights

• Revenues of $115.7-million in the fourth quarter and $446.5-million for the full year, increases of 14 per cent and 10 per cent, respectively, when compared with the same periods in the prior year;
• EBITDA (1) of $47.0-million in the fourth quarter and $180.1-million for the year, increases of 34 per cent and 20 per cent, respectively, when compared with the same periods in the prior year;
• Net earnings of $21.6-million in the fourth quarter and $78.4-million for the year;
• Adjusted net earnings (1) of $22.0-million in the fourth quarter and $75.2-million for the year;
• Revenues and EBITDA at River Rock Casino Resort in the fourth quarter increased by 26 per cent and 40 per cent, respectively, to $54.3-million and $31.3-million;
• Revenues and EBITDA at Hard Rock Casino Vancouver in the fourth quarter increased by 2 per cent and 50 per cent, respectively, to $13.3-million and $3.9-million.

(1) EBITDA (earnings before interest, taxes, depreciation and amortization) and adjusted net earnings are non-IFRS (international financial reporting standards) measures.

Great Canadian generated revenues of $115.7-million during the fourth quarter, a 14-per-cent increase from the fourth quarter of 2013. EBITDA during the fourth quarter was $47.0-million, a 34-per-cent increase from the fourth quarter of 2013. EBITDA as a percentage of revenues for the fourth quarter was 40.6 per cent, a 6.0-percentage-point increase from the fourth quarter of 2013. Both the revenues and EBITDA increases were primarily due to continued strong performance at River Rock Casino Resort, and improvements at Hard Rock Casino Vancouver, Great American Casinos and the company's other British Columbia casinos.

Great Canadian generated net earnings of $20.0-million during the fourth quarter and $76.8-million during 2014, increases of $12.8-million and $13.7-million, respectively, when compared with the same periods in 2013. These increases were primarily due to the growth in the company's EBITDA, the annual impact of which was partly offset by reduced non-cash long-lived asset impairment reversals in 2014 as compared with those recognized in the prior year.

"River Rock Casino Resort continued to lead Great Canadian's financial results throughout 2014," stated Rod Baker, Great Canadian's president and chief executive officer. "River Rock generated significant growth in both gaming revenues and EBITDA throughout each quarter of 2014. We are pleased with these results and are very proud of our River Rock colleagues, who continue to deliver exceptional entertainment and service to our guests.

"Hard Rock Casino Vancouver has consistently improved both its revenues and operating performance since its relaunch in December, 2013. We are continuing our efforts to increase the property's visitation, as it further establishes itself as one of Vancouver's premier entertainment destinations. On Feb. 17, 2015, we opened a new VIP table area and created a more exclusive VIP slot area at the property, which we expect will better service our guests.

"Great Canadian concluded 2014 with a strong cash balance and an undrawn revolving credit facility. The company 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 also continue to both efficiently manage our operations and explore other options to further grow our business."

Great Canadian will host a conference call for investors and analysts today, March 4, 2015, at 2 p.m. Pacific Time, in order to review the financial results for the period ended Dec. 31, 2014. To participate in the conference call, please dial 416-764-8688, 778-383-7413 or toll-free 888-390-0546 (passcode: 07600994). 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 consolidated financial statements, and management's discussion and analysis at the company's website (available on March 4, 2015) or SEDAR (available on March 5, 2015) for detailed financial information and analysis.

                                CONSOLIDATED STATEMENTS OF EARNINGS
            (Expressed in millions of Canadian dollars, except for per-share information)

                                                                 Fourth quarter       12 months of
                                                                  2014     2013      2014     2013

Gaming revenues                                                  $79.9    $67.7    $308.4   $274.2
Facility development commission                                    9.7      8.2      37.7     34.1
Hospitality, lease and other revenues (1)                         28.6     27.1     108.4    103.2
Racetrack revenues                                                 3.6      3.4      14.6     14.3
                                                                 121.8    106.4     469.1    425.8
Promotional (allowances)                                          (6.1)    (4.8)    (22.6)   (18.5)
Revenues                                                         115.7    101.6     446.5    407.3
Human resources                                                   42.3     40.8     164.8    160.5
Property, marketing and administration                            26.4     25.6     101.6     96.2
                                                                  68.7     66.4     266.4    256.7
EBITDA                                                            47.0     35.2     180.1    150.6
Human resources as a percentage of revenues before
promotional allowances                                            34.7%    38.3%     35.1%    37.7%
EBITDA as a percentage of revenues                                40.6%    34.6%     40.3%    37.0%
Amortization                                                      10.3     11.6      45.3     48.5
Share-based compensation                                           1.4      6.1       4.8      9.7
Impairment (reversal) of long-lived assets and goodwill, net       0.5        -      (4.7)   (28.5)
Interest and financing costs, net                                  7.7      8.0      31.6     32.8
Restructuring and other                                            0.2      0.6       0.8      2.0
Foreign exchange (gain) and other                                 (1.5)    (0.3)     (2.4)    (0.9)
Income taxes                                                       6.8      2.0      26.3     23.9
Net earnings                                                     $21.6     $7.2     $78.4    $63.1
Net earnings per common share
Basic                                                            $0.32    $0.11     $1.16    $0.92
Diluted                                                          $0.31    $0.10     $1.12    $0.90

(1) For the 12 months of 2013, the company has reclassified its Ontario gaming revenues of 
$6.4-million that related to its prior Ontario racetrack site holder agreements as hospitality, 
lease and other revenues. Management believes this presentation improves the comparability with 
the current year's revenues from OLG (Ontario Lottery and Gaming Corp.) for its lease of the slot
machine areas at the Ontario racetracks. The prior site holder agreements were terminated by OLG
effective March 31, 2013, and replaced by five-year lease agreements effective April 1, 2013, as
described in the major developments section of the MD&A for the year ended Dec. 31, 2014.

We seek Safe Harbor.