Mr. Rod Baker reports

GREAT CANADIAN GAMING ANNOUNCES THIRD QUARTER 2017 RESULTS

Great Canadian Gaming Corp. has released its financial results for the three-month period ended Sept. 30, 2017.

Third quarter 2017 highlights:

• On Aug. 8, 2017, the company announced that Ontario Gaming GTA Limited Partnership, a partnership in which Great Canadian holds a 49.0-per-cent interest, was selected as the successful proponent by the Ontario Lottery and Gaming Corp. (OLG) to operate certain gaming facilities in the Greater Toronto Area.
• Third quarter 2017 revenues of $159.6-million increased by 5 per cent when compared with the same period in the prior year.
• Adjusted EBITDA (earnings before interest and financing costs (net of interest income), income taxes, depreciation and amortization, share-based compensation, impairment reversal of long-lived assets, business acquisition, restructuring and other, and foreign exchange (gain) loss and other) (1) for the third quarter of $62.7-million was consistent with the same period in the prior year.
• Shareholder net earnings were $26.9-million or 44 cents per common share, and adjusted shareholder net earnings (1) were $27.3-million or 45 cents per common share. Both were consistent with the same period in the prior year.
• During the third quarter, the company started construction of the new Shorelines Casino Peterborough, which is expected to complete in the third quarter of 2018 and will replace the current Shorelines Slots at Kawartha Downs.
• The company submitted a bid on the request for proposals (RFP) for OLG's Gaming bundle 6 (West GTA) and is currently assessing OLG's RFPs for Gaming bundle 7 (Central) and Gaming bundle 8 (Niagara).

"The GTA Bundle is the largest award by the OLG as part of the modernization of its casino operations," stated Rod Baker, the company's president and chief executive officer. "As a result of this award, the partnership will acquire all the gaming assets in the GTA bundle and will have the exclusive right to operate these assets for a minimum period of 22 years. We look forward to this historic opportunity to service Canada's largest metropolitan region."

During the third quarter of 2017, Great Canadian generated revenues of $159.6-million, an increase of 5 per cent when compared with the same period in the prior year. This increase reflects the contributions from Shorelines Casino Belleville, which was opened on Jan. 11, 2017, as well as increased revenues at all property groups, except for River Rock Casino Resort.

Adjusted EBITDA during the third quarter was $62.7-million, consistent with the same period in the prior year. Hard Rock Casino Vancouver and other B.C. casinos achieved improved adjusted EBITDA this quarter, but the increases were offset by a decline in adjusted EBITDA at River Rock and Great American Casinos.

Shareholder net earnings for the third quarter were $26.9-million, consistent with the same period in the prior year. Decreases in business acquisition, restructuring, and other costs and income taxes were mostly offset by increases in amortization and share-based compensation. Shareholder net earnings per common share were 44 cents, decreased by 2 per cent when compared with the same period in the prior year due to a 1-per-cent increase in weighted-average number of shares outstanding.

"Great Canadian generated improvements to revenues at all properties, except for River Rock, during the third quarter of 2017, when compared to the same period in the prior year. Wagering increased at River Rock, but the site experienced low table hold this quarter mainly due to high win rate from VIP players," stated Mr. Baker.

"Our expansion plans continued with the groundbreaking ceremony for the new Shorelines Casino Peterborough on Sept. 6, 2017, to mark the official start of the construction. We look forward to the completion of this new casino in the third quarter of 2018. Additionally, the multimillion-dollar redevelopment of View Royal Casino continued to make good progress during the third quarter of 2017. The first phase of this project, which includes the gaming floor, is targeted to complete in December, 2017. Renovations at River Rock are also progressing well. Our guests will be able to enjoy the improved amenities by the end of this year. We look forward to completing these projects and other developments at our properties to enhance guest experiences.

"We are working on the transition of the GTA bundle to the partnership, with the expected closing date of the acquisition to be in the first quarter of 2018. We continue to pursue opportunities in OLG's gaming modernization plan. The company submitted a bid on the West GTA gaming bundle in July and is currently assessing OLG's request for proposals for the Central gaming bundle and Niagara gaming bundle.

"At the end of the third quarter, Great Canadian maintained a strong cash balance of $289-million and had available capacity on its undrawn senior secured revolving credit facility of $282-million, net of outstanding letters of credit," concluded Mr. Baker. "Given our strong financial position, the company remains well positioned to take advantage of new opportunities for value creation. While we continue to pursue potential opportunities in Ontario and elsewhere, we will also continue to efficiently manage our operations and explore other options to grow our business."

Great Canadian will host a conference call for investors and analysts Nov. 9, 2017, at 2 p.m. Pacific Time to review the financial results for the period ended Sept. 30, 2017. To participate in the conference call, please dial 416-764-8688, 778-383-7413 or toll-free at 1-888-390-0546. Questions will be reserved for institutional investors and analysts. Interested parties may also access the call through 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.

About Great Canadian Gaming Corp.

Founded in 1982, Great Canadian Gaming, based in British Columbia, is a company that operates 22 gaming, entertainment and hospitality facilities in British Columbia, Ontario, New Brunswick, Nova Scotia and Washington State. "Proud of our people, our business, our community" is Great Canadian's brand that unifies the company's community, volunteering and social responsibility efforts. Under the Proud program, Great Canadian annually invests over $2.5-million in our communities, and in 2016, over 1,500 charitable organizations were supported by Great Canadian. In each Canadian gaming jurisdiction, a significant portion of gross gaming revenue from gaming facilities is retained by the company's Crown partners on behalf of their provincial government for the purpose of supporting programs like health care, education and social services.

Please refer to the consolidated financial statements and management's discussion and analysis available on Nov. 9, 2017, or SEDAR (available on Nov. 10, 2017) for detailed financial information and analysis.

               FINANCIAL HIGHLIGHTS AND ADJUSTED SHAREHOLDERS' NET EARNINGS  
           (expressed in millions of dollars, except for per-share information)
                                                                             
                                                     Three months ended       Nine months ended
                                                          Sept. 30,                Sept. 30, 
                                                       2017        2016        2017        2016

                                                   --------    --------    --------    --------  
Revenues                                             $159.6      $151.4      $463.3      $423.4
                                                   --------    --------    --------    --------  
Human resources                                        54.4        50.7       161.6       151.3
Property, marketing and administration                 43.3        38.6       130.1       112.4
Share of profit of equity investment                   (0.8)       (0.8)       (2.1)       (2.0)
                                                   --------    --------    --------    --------  
                                                       96.9        88.5       289.6       261.7
                                                   --------    --------    --------    --------  
Adjusted EBITDA (1)                                   $62.7       $62.9      $173.7      $161.7
                                                   ========    ========    ========    ========  
Adjusted EBITDA as a % of revenues (1)                 39.3%       41.5%       37.5%       38.2%
Less
Amortization                                           14.3        13.8        42.9        41.1
Share-based compensation                                3.3         2.5         5.9         5.1
Impairment reversal of long-lived assets                  -           -        (0.9)          -
Interest and financing costs, net                       8.6         9.0        25.7        26.3
Business acquisition, restructuring and other          (0.3)        0.8         1.0         5.1
Foreign exchange loss and other                         0.7         0.1         1.5         1.2
Income taxes                                            9.2         9.8        26.2        22.8
                                                   --------    --------    --------    --------
Shareholder net earnings                              $26.9       $26.9       $71.4       $60.1
                                                   ========    ========    ========    ========
Shareholder net earnings per common share
Basic                                                 $0.44       $0.45       $1.17       $0.96
Diluted                                               $0.43       $0.44       $1.14       $0.95
                                                   ========    ========    ========    ========

We seek Safe Harbor.