Mr. Rod Baker reports

GREAT CANADIAN GAMING ANNOUNCES FIRST QUARTER 2015 RESULTS

Great Canadian Gaming Corp. has released its financial results for the three-month period ended March 31, 2015.

First quarter 2015 highlights

• Revenues of $108-million in the first quarter, a 4-per-cent increase when compared with the same period in the prior year;
• EBITDA (earnings before interest, taxes, depreciation and amortization) of $41.1-million in the first quarter, an 8-per-cent increase when compared with the same period in the prior year;
• Adjusted net earnings of $16.9-million in the first quarter, a 27-per-cent increase, when compared with the same period in the prior year;
• First quarter revenues at River Rock Casino Resort increased by 3 per cent to $47.4-million;
• First quarter revenues and EBITDA at Hard Rock Casino Vancouver increased by 6 per cent and 41 per cent, respectively, to $13.4-million and $4.1-million.

                     FIRST QUARTER 2015 HIGHLIGHTS
      (in millions of dollars, except for per-share information)

                                       First quarter       First quarter
                                                2015                2014

Revenues                               $       108.0         $     103.8
EBITDA                                 $        41.1         $      38.1
EBITDA as a percentage of revenues             38.1%               36.7%
Net earnings                           $        16.1         $      17.0
Net earnings per common share
Basic                                  $        0.23         $      0.25
Diluted                                $        0.23         $      0.25
Adjusted net earnings                  $        16.9         $      13.3            

Great Canadian generated revenues of $108-million during the first quarter, a 4-per-cent increase from the first quarter of 2014. EBITDA during the first quarter was $41.1-million, an 8-per-cent increase from the first quarter of 2014. EBITDA as a percentage of revenues for the first quarter was 38.1 per cent, a 1.4-percentage-point increase from the first quarter of 2014. The revenues increase was primarily due to River Rock Casino Resort, as well as improvements at Hard Rock Casino Vancouver, Great American Casinos and the company's British Columbia Racinos. EBITDA improvements were most pronounced at Hard Rock Casino Vancouver and Great American Casinos, as well as from reduced corporate costs, while the majority of the company's other properties also made positive contributions.

Great Canadian's net earnings for the first quarter of 2015 were $16.1-million. After adjusting for items of note in the current-period and prior-period net earnings, the company's adjusted net earnings increased by $3.6-million, or 27 per cent, in the first quarter of 2015, when compared with the same period in 2014. This increase was primarily due to the growth in EBITDA and the decrease in amortization expense during the first quarter of 2015.

"River Rock Casino Resort's increase in gaming volumes during the first quarter of 2015 was offset by a decline in both table-hold percentage and slot-win percentage," stated Rod Baker, Great Canadian's president and chief executive officer. "River Rock's improved gaming volumes can be partially attributed to the expansion of its high-limit baccarat gaming area and the associated addition of 15 new tables, both of which took place on Feb. 12, 2015.

"At Hard Rock Casino Vancouver, we continued our efforts to increase the property's visitation. On Feb. 17, 2015, we opened a new high-limit table area and created a more exclusive high-limit slot area at the property. We expect both of these additions will improve Hard Rock Casino Vancouver's premium gaming experience.

"At the end of the first quarter, Great Canadian maintained a strong cash balance and an undrawn revolving credit facility. The company remains well positioned to take advantage of new opportunities for value creation," concluded Mr. Baker. "While we pursue potential opportunities in Ontario and elsewhere, we will also continue to both efficiently manage our operations and explore other options to grow our business."

Great Canadian will host a conference call for investors and analysts on May 6, 2015, at 2 p.m. Pacific Time, in order to review the financial results for the period ended March 31, 2015. To participate in the conference call, please dial 416-764-8688, 778-383-7413 or toll-free at 888-390-0546 (passcode 01014893). 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 Great Canadian website.

Please refer to the condensed interim consolidated financial statements and management discussion and analysis at the Great Canadian website (available on May 6, 2015) or SEDAR (available on May 7, 2015) for detailed financial information and analysis.

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

                                            First quarter      First quarter
                                                     2015               2014

Gaming revenues                                    $ 74.7             $ 71.1
Facility development commission                       9.5                8.8
Hospitality, lease and other revenues                26.6               25.6
Racetrack revenues                                    3.3                3.3
                                                    114.1              108.8
Less
Promotional allowances                               (6.1)             (5.0)
Revenues                                            108.0              103.8
Human resources                                      41.5               40.6
Property, marketing and administration               25.4               25.1
                                                     66.9               65.7
EBITDA                                               41.1               38.1
Human resources as a percentage
of revenues before promotional allowances           36.4%              37.3%
EBITDA as a percentage of revenues                  38.1%              36.7%
Amortization                                          9.4               12.2
Share-based compensation                              2.2                0.4
Impairment reversal of long-lived assets                -              (5.2)
Interest and financing costs, net                     7.8                8.1
Restructuring and other                               1.6                  -
Foreign exchange gain and other                     (1.9)              (0.3)
Income taxes                                          5.9                5.9
Net earnings                                       $ 16.1             $ 17.0
Net earnings per common share
Basic                                              $ 0.23             $ 0.25
Diluted                                            $ 0.23             $ 0.25

We seek Safe Harbor.