Canada
Great Canadian Gaming Announces Second Quarter 2020 Results
Great Canadian Gaming Corporation announced its financial results for the three month period ended June 30, 2020 (the “second quarter”).
SECOND QUARTER 2020 UPDATES
The Company’s gaming facilities and ancillary amenities across the country have been temporarily closed since March 16, 2020 in an effort to contribute to the containment of the COVID-19 coronavirus pandemic (“the pandemic”).
Shareholders’ net loss from continuing operations of $31.4 million or $0.57 per common share in the second quarter, compared to shareholders’ net earnings from continuing operations of $48.0 million or $0.81 per common share in the same period in the prior year.
The Company has resumed certain Ontario capital projects after government mandated closures on non-critical construction projects were lifted by the Government of Ontario on May 19, 2020.
“We had a full quarter of business closure as a result of the temporary suspensions since March 16, 2020 in response to the pandemic. While we have taken actions to significantly reduce our operating expenses during the closure period, our second quarter results were negatively impacted materially by the closures. Since the closure of our 25 operations across the country almost five months ago, we worked closely with key stakeholders such as our Provincial Crown corporations and regulators to ensure our plans properly address provincial health authorities’ guidance and recommendations as provincial economies reopen,” stated Rod Baker, the Company’s Chief Executive Officer. “Certain provinces have now approved casinos to reopen as part of their phased reopening plans, and we are working diligently on determining the reopening timelines and dates as we complete the necessary health and safety enhancements outlined in our plans.”
FINANCIAL REVIEW
The temporary closures of the Company’s operations resulted in a decrease in revenues, expenses, Adjusted EBITDA1, Free Cash Flow1, and cash flows when compared to the same period in the prior year.
During the second quarter, the Company took measures to significantly reduce its operating expenses to mitigate the decline in revenues from the gaming facility closures. Human resource expenses in the second quarter primarily consisted of costs related to remaining personnel required to support the business during the closure period. For the three months ended June 30, 2020, approximately half of the property, marketing and administration expenses were related to direct property operating costs, including property taxes, insurance, utilities and maintenance, with the remaining half related to administration costs, including licenses, subscriptions and professional fees.
Revenues and Adjusted EBITDA for the second quarter were $62.8 million and $31.8 million, respectively. Revenues for the second quarter primarily consisted of the Ontario bundles’ annual entitlement of service provider fees for permitted capital expenditures recognized in full in the second quarter and continued service provider base fixed fees under the respective casino operating agreements, which resulted in a positive Adjusted EBITDA. Adjusted EBITDA was also positively impacted by $20.9 million in lease payments which are no longer recognized as operating expenses in Adjusted EBITDA due to the implementation of IFRS 16, the new lease accounting standard adopted in the prior year.
The Company recognized negative cash flows in the second quarter due to the temporary suspension of operations. In the second quarter, the Company had negative of $123.4 million, which was consisted of Adjusted EBITDA of $31.8 million, as previously discussed, less changes in non-cash working capital of $22.2 million, capital expenditures of $98.6 million, substantially all of which was in Ontario, payment of lease liabilities of $20.9 million, and interest paid of $13.5 million. The Company funded the negative Free Cash Flow of $123.4 million by borrowing an additional $60.7 million on its credit facilities for capital expenditures in Ontario and the remainder from available cash balances.
The Company had cash outflow of $383.7 million for the second quarter. Prior to the end of the first quarter of 2020, the Company drew $325.0 million on the revolving portion of the Senior Secured Credit Facilities to ensure it had sufficient liquidity available, which was repaid in full during the second quarter of 2020. Other cash outflows for the second quarter included payments to satisfy working capital obligations, payment of lease liabilities and capital expenditures, as discussed above.
Shareholders’ net loss from continuing operations was $31.4 million in the second quarter due to the above mentioned facility closures, which had a negative impact on revenues.
SOURCE Great Canadian Gaming Corporation
Powered by WPeMatico
Canada
Group from TsâelxwĂ©yeqw Tribe and Great Canadian Entertainment Announce Agreement for the Acquisition of Elements Casino Chilliwack
Great Canadian Entertainment and a consortium group of certain communities from the TsâelxwĂ©yeqw Tribe, through an entity affiliated with TsâelxwĂ©yeqw Tribe Management Ltd. (the âTsâelxwĂ©yeqw Groupâ), announced that on November 7th, 2025, they entered into a definitive agreement for the purchase by the TsâelxwĂ©yeqw Group from Great Canadian Entertainment of Elements Casino Chilliwack, one of the premier gaming and entertainment destinations in the Fraser Valley region of British Columbia.
The TsâelxwĂ©yeqw Tribe constitute seven First Nation communities and are the First People of the Chilliwack River watershed. The transaction represents a transformational milestone for the communities within the TsâelxwĂ©yeqw Group.
Elements Casino Chilliwack serves guests across the Fraser Valley and is Chilliwackâs top destination for gaming and entertainment, featuring over 300 slots, live and electronic table games, bingo, dining, live entertainment and more.
The closing of the transaction remains subject to customary closing conditions and the receipt of regulatory and other approvals. Under the terms of the definitive agreement, Great Canadian Entertainment will continue to provide transitional services and support to the TsâelxwĂ©yeqw Group for a period following closing.
âThis purchase marks an exciting milestone for our Nations and for the entire territory. By coming together in partnership, we are not only investing in a strong business opportunity, but also in the future of our people. The revenues generated through this acquisition will help strengthen our communities, create new opportunities, and ensure our Nations continue to play a leading role in the local economy. Additionally, we believe that local community-based ownership of Elements Casino Chilliwack will further strengthen the broader Fraser Valley community and economy. Itâs a proud moment that reflects how Indigenous leadership and collaboration can build a stronger, more inclusive future for everyone,â said Chief David Jimmie, Chief of Squiala First Nation and President of TsâelxwĂ©yeqw Tribe Management Ltd.
âWe are very excited to have entered into this agreement with the TsâelxwĂ©yeqw Group. We have had the privilege of being part of the Chilliwack community since we opened Elements Casino Chilliwack in 2012, and we believe that under the TsâelxwĂ©yeqw Groupâs stewardship, the business will begin an exciting new chapter. For the team members and guests of Elements Casino Chilliwack, and the local community, we can think of no better owner for the business. We look forward to the closing and then working with the TsâelxwĂ©yeqw Group team during the transition period,â said Matt Anfinson, CEO of Great Canadian Entertainment.
McCarthy TĂ©trault LLP is acting as legal advisor and KPMG Corporate Finance Inc. is acting as financial advisor to the TsâelxwĂ©yeqw Group. McMillan LLP is acting as legal advisor to Great Canadian Entertainment.
The post Group from TsâelxwĂ©yeqw Tribe and Great Canadian Entertainment Announce Agreement for the Acquisition of Elements Casino Chilliwack appeared first on Americas iGaming & Sports Betting News.
Reading Time: 2 minutes
The Canadian iGaming market has evolved from an emerging opportunity into one of the most competitive and innovative digital gaming arenas worldwide. Ontarioâs regulated framework has paved the way for rapid expansion, attracting established international operators alongside ambitious newcomers that are carving out share through brand differentiation and data-driven acquisition.
Methodology: How Growth Was Measured
To understand which casino brands are gaining momentum and why, the award-winning Mr. Gamble Casino Trends Meterâa proprietary performance index powered by Semrush, Ahrefs, in-house click tracking, market benchmarks, and predictive analyticsâanalyzed year-over-year (YoY) performance from JanuaryâJune 2024 versus JanuaryâJune 2025. The results point to a vibrant, fiercely competitive landscape where execution, trust, and experience are the real drivers of sustained growth.
Brands Showing Standout Growth in 2025
Strong outperformance highlights different paths to scale
Wild Tokyo posted an extraordinary +134% YoY, showing how bold branding, a distinctive identity, and targeted acquisition can resonate with players seeking unique experiences. Clean yet edgy design, paired with robust SEO execution and engagement programs, helped the brand cut through a crowded market.
LuckyDays delivered +110% YoY by striking a balance between simplicity and substance. A minimalistic UX, a vast game library, and strong affiliate relationships have positioned it as a trusted destination for Canadian players.
BetVictor, a legacy operator with deep roots, recorded +107% YoY. Its evolution from traditional bookmaker to diversified iGaming powerhouse underscores how credibility and adaptability can translate into modern growth.
Agile mid-tier brands are also accelerating: SlotsMagic at +94% and Betibet at +88% demonstrate how focused SEO, analytics-led decision making, and smart promotional strategy can punch above weight.
Crypto-forward momentum and broader market depth
The joint rise of BetFury and SmokAceâboth at +74%âsignals growing acceptance of crypto and blockchain-based gaming among Canadian users, driven by transparency, fast payments, and a tech-forward ethos.
Meanwhile, Paripesa, Mond, and ComeOn maintained robust double-digit YoY growth, underscoring the marketâs depth and diversity beyond a handful of headline names.
Market Maturity: Compliance, Trust, and UX Win
As more provinces explore regulated frameworks modeled on Ontario, competition is intensifying. The brands pulling ahead are those investing in compliance, transparency, and player satisfactionâprioritizing product quality and retention over short-term promotions.
âPlayers are becoming more selective, more informed, and more focused on trust,â says Paul Puolakka, CMO at Mr. Gamble. âWeâre seeing a clear shift toward quality brands that prioritize experience, safety, and innovationâthe ones achieving real, sustained growth.â
Puolakka adds: âData doesnât just tell us whoâs growingâit shows us why. The operators succeeding in Canada are those that deeply understand their audience, use insights effectively, and build long-term value instead of chasing short-term hype.â
Trends Shaping the Next Phase of iGaming in Canada
- Branding + data-led acquisition let emerging brands challenge incumbents more effectively than ever.
- Crypto-friendly casinos are moving from niche to mainstream consideration for Canadian users.
- SEO, content strategy, and affiliate partnerships remain reliable, capital-efficient growth levers.
- Compliance, transparency, and UX are central to sustainable market share gains.
Looking Ahead
The fastest-growing casino brands capture more than impressive statisticsâthey reflect a market in transformation. With Wild Tokyo setting creative benchmarks and veterans like BetVictor and ComeOn proving that brand equity still matters, Canadaâs iGaming sector is entering a phase defined by intelligent growth, regulatory maturity, and player empowerment.
As the industry continues to evolve, the Mr. Gamble Casino Trends Meter remains a useful compass for players, affiliates, and operators navigating this fast-changing landscape.
The post Canadian iGaming Growth Trends 2025: Data, Strategy, and the Brands Defining the Market appeared first on European Gaming Industry News.
Reading Time: 2 minutes
Ezugi, an innovative live dealer casino supplier known for pushing the boundaries of live gaming, retention, and distribution solutions, is proud to announce a new partnership with PokerStars, the worldâs largest online poker site.
Through this partnership, PokerStarsâ players in the UK and Ontario will gain access to Ezugiâs standout portfolio, including Revolution Roulette, Ultimate Roulette, Unlimited Blackjack and Lucky 7 online casino games.
PokerStars, launched in 2001, is one of the worldâs leading online poker and casino brands and operates as part of Flutter Entertainment. It has grown to become the largest poker site globally, offering the widest selection of online games and hosting prestigious live tournaments.
Formed in 2012, Ezugi is a global live casino provider with a focus on meeting operator and player needs with best-of-breed localised content. The Ezugi games portfolio includes a wide range of live dealer games, many of which are unique. Ezugi became part of Evolution in 2018 and continues to build on its reputation for providing unique and innovative games and solutions for online casino and retail betting shop operators.
Gilad Ben-Ami, Chief Executive Officer at Ezugi, said: âPokerStarsâ players already enjoy a wide range of live casino and online slot games from Evolution brands such as Evolution, NetEnt, Red Tiger and Big Time Gaming. Now Ezugi is delighted and honoured to add even more choice for PokerStarsâ players with our own innovative games.â
Ben-Ami continued: âThe release of Ezugi games to PokerStars clearly demonstrates the rich variety and innovative features of the Ezugi games portfolio. Ultimate Roulette is a unique multiplier Roulette that blends circus-themed fun and TV game show excitement; Revolution Roulette puts a unique spin on classic Roulette by adding special multiplier pockets to the wheel; Unlimited Blackjack allows an unlimited number of players to play at the table, while also featuring Auto-Split functionality and a choice of four side bets â Perfect Pairs, 21+3, Perfect 11 and Ten20; and Lucky 7 is a very popular game with its origins in the Indian subcontinent â a fast-paced, simple and exciting Hi-Lo card game.â
Ben-Ami concluded: âWe are confident that PokerStarsâ players will love playing these games and we look forward to adding more Ezugi titles for them in the future.â
The post Ezugi partners with PokerStars to further extend live casino game choice for players appeared first on European Gaming Industry News.
-
Central Europe5 days agoEsportSpot Announces Launch of Online Casino Review Website in Poland
-
Central Europe6 days ago
CT Interactive strengthens presence in Slovakia with launch of new games on Tipos.sk
-
David Mann Chief Commercial Officer at Swintt6 days ago
Swintt bring players four times the fun in Lucky Fortune Door Wild
-
ADM5 days ago
Swintt games go live in Italy after receiving ADM certification
-
Booming Games6 days ago
Booming Games Takes Players Sky-High with Thunder Eagle Hold and Win Extreme 10,000
-
Evoplay6 days ago
Evoplay answers the call of the wild in festive Young Deer Song
-
Bragg Gaming Group5 days ago
Bragg Rolls Out Premium Content Suite with Napoleon Romania
-
eSports5 days ago
Counter-Strike 2, Dota 2, Fortnite, Fatal Fury: City of Wolves, UFL and More to Headline at the Games of the Future 2025
