Canada

Great Canadian Gaming Announces Second Quarter 2020 Results

Published

5 years ago

August 14, 2020

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

Canada

Gaming Corps takes flight in Ontario with High Flyer Casino partnership

Published

24 hours ago

February 10, 2026

Wladimir P.

gaming-corps-takes-flight-in-ontario-with-high-flyer-casino-partnership

Gaming Corps, the Sweden-based publicly listed game development studio, has secured a new content partnership with High Flyer Casino, an AGCO-licensed online gaming operator in Ontario, Canada. The agreement marks another strategic step forward for Gaming Corps as it continues to grow its footprint in one of North America’s most competitive regulated iGaming markets.

As part of the deal, a curated selection of Gaming Corps’ slot titles will be made available to High Flyer Casino players across Ontario. The initial launch includes 3 Pigs of the Caribbean, a swashbuckling instalment from the well-known 3 Pigs franchise, alongside Savannah Stacks, a high-volatility slot inspired by the thrills of a safari adventure.

High Flyer Casino has established itself as a slots-focused operator with a strong reputation for value-driven, mobile-first gaming experiences tailored to Canadian players. Operated by Ellipse Entertainment Limited, the company draws on more than 25 years of industry expertise and offers a diverse portfolio that features over 100 exclusive games. Its offering is further enhanced by the proprietary Reel Jackpot brand, popular Money Spinner titles, and a wide range of progressive slots.

Commenting on the partnership, Adam Pentecost, Chief Revenue Officer at Gaming Corps, said:
“High Flyer Casino has carved out a clear position in Ontario with a focused slots strategy and a strong understanding of what local players are looking for. Bringing our most recognisable titles to their platform allows us to reach a highly engaged audience in a market that continues to set the pace in North America. This agreement represents another meaningful step in expanding our distribution with operators who value distinctive content and long-term portfolio growth.”

Man Mac, Head of Marketing at High Flyer Casino, added:
“At High Flyer Casino, we are building a slot lineup that blends proven player appeal with unique and memorable gaming experiences. Gaming Corps’ portfolio fits perfectly with that approach, delivering polished, entertaining games that are full of personality.”

The post Gaming Corps takes flight in Ontario with High Flyer Casino partnership appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Canada

CasinoCanada and GG.BET Forge Strategic Alliance

Published

24 hours ago

February 10, 2026

Wladimir P.

casinocanada-and-gg.bet-forge-strategic-alliance

CasinoCanada is delighted to reveal a collaboration with GG.BET, a prominent global platform for esports and sports betting. This partnership will broaden GG.BET’s footprint in important regional markets and deliver focused, captivating content for fans of esports and sports wagering.

In this partnership, CasinoCanada will team up with GG.BET to create tailored reviews and SEO-focused content for local audiences. This initiative will enhance GG.BET’s exposure and provide players with trustworthy information and a smooth user experience.

CasinoCanada is an online gaming guide run by SEOBROTHERS.

Eugene Ravdin, Head of PR at SEOBROTHERS, commented: “GG.BET is a pioneering force in the esports betting space, combining innovation with deep industry knowledge. Partnering with CasinoCanada aligns perfectly with our goal to support platforms that prioritise player engagement and responsible growth. Together, we look forward to delivering valuable content that resonates with esports and sports fans alike and contributes to the sustained success of GG.BET.”

GG.BET is a global wagering platform created by esports specialists to provide an exceptional esports betting experience along with a variety of conventional sports betting choices. The platform provides over 30 esports categories, featuring both console and mobile games, along with more than 40 conventional sports.

GG.BET additionally offers AI-driven virtual sports, including virtual leagues for football, basketball, and tennis. The platform improves user interaction with a tailored feed and a customizable gaming avatar that develops as players progress through GG.Leagues stages. GG.BET emphasizes player safety and client support, upholding strict standards in data security and user assistance.

GG.BET fosters esports growth through collaborations with teams and sponsorships of prominent tournaments, such as BLAST Premier (CS2), PGL Major, and Dota 2’s The International. Since 2020, GG.BET has partnered with NAVI and Team Vitality’s CS2 lineup.

The brand has gained international acclaim, securing the Best Esports Operator title at the EGR Operator Awards 2023 as well as the SiGMA Europe Awards 2023. This achievement persisted with the Esports Operator of the Year accolade at the EGR Global Operator Awards 2024, succeeded by Operator of the Year for Central and Eastern Europe at the EGR Global Europe Awards 2025.

Serhii, Head of Affiliates at GG.BET, added: “We’re pleased to launch our partnership with CasinoCanada. Their strong regional expertise and engaged audience make them a valuable partner for us. We see great potential in this cooperation to strengthen GG.BET’s presence in the region and build long-term growth together.”

The post CasinoCanada and GG.BET Forge Strategic Alliance appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

AGLC

Continent 8 set to back Alberta’s iGaming operators and suppliers

Published

24 hours ago

February 10, 2026

Wladimir P.

continent-8-set-to-back-alberta’s-igaming-operators-and-suppliers

Continent 8 Technologies, a premier provider of advanced managed IT solutions tailored for the worldwide iGaming and online sports betting sector, announces its official launch in Alberta, Canada. This growth comes after the province unveiled its competitive iGaming regulatory framework and the Alberta Gaming, Liquor and Cannabis Commission (AGLC) issued comprehensive hosting and security requirements, representing another important milestone in Continent 8’s enduring dedication to the North American market.

With established operations in Ontario – where the company effectively introduced its Public Cloud solution in Toronto in direct response to the province’s launch of its iGaming market in 2022 – Continent 8 brings to Alberta the same level of regulatory insight, technical expertise, and customer-focused innovation that has positioned it as a reliable partner throughout Canada.

Alberta’s iGaming regulations outline specific hosting and data management responsibilities for suppliers and operators. For instance, every data centre utilized by licensees must obtain AGLC approval, which includes data residency, cross-border transfers, and encryption key management.

The province requires fully operational disaster recovery infrastructure and unalterable, encrypted backups, along with stringent conditions for quarterly testing and offsite storage—fields where Continent 8’s expertise offers instant benefits.

Besides hosting requirements, Alberta implements some of the most thorough security standards in the nation, such as mandatory MFA, compliance with SOC 2 and ISO 27001, yearly penetration testing, and extensive log retention mandates.

“Our heritage means we understand the rigorous regulatory expectations, and the operational challenges operators and suppliers face when entering new markets,” said Michael Tobin, CEO and Founder of Continent 8 Technologies. “Alberta’s standards are comprehensive, particularly around disaster recovery, backups, and security. We have built our solutions so customers can meet these requirements confidently from day one. We are excited to support customers as Alberta opens its market and continues Canada’s growth story.”

The post Continent 8 set to back Alberta’s iGaming operators and suppliers appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.