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CNW/ - Great Canadian Gaming Corporation [TSX:GC] ("Great Canadian," or "the Company") today announced its financial results for the three.


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RG Culture: What is it and how do we get it?

The Company cautions that this list of factors is not exhaustive. The forward-looking information in documents incorporated by reference speaks only as of the date of those documents. The revised timelines for these developments will be reassessed once the timing of the government mandated closures are better understood and workplace conditions can proceed in a safe and appropriate manner. We expect the start-up and post-relaunch ramp up periods of our gaming facilities and capital projects under development to be a challenging time for Great Canadian and we are very fortunate to have so many dedicated and hard-working team members getting us though this difficult closure period and into our reopening phase. Business acquisition, restructuring and other. Shareholders' net earnings per common share from continuing operations. In each Canadian gaming jurisdiction, a significant portion of gross gaming revenue from gaming facilities is retained by our Crown partners on behalf of their provincial government for the purpose of supporting programs like healthcare, education and social services. In response to the facility closures, the Company took measures to significantly reduce its operating expenses to mitigate the decline in revenues from the gaming facility closures. Net earnings from continuing operations. Items of note may vary from time to time and in this press release include pre-opening costs, restructuring severance costs, impairment reversal of long-lived assets, facility development commission revenues previously deferred at Casino Nanaimo, other and the related income taxes thereon. Human resources. Expressed in millions of Canadian dollars, except for per share information. Net earnings attributable to discontinued operations 1. Adjusted EBITDA, as defined by the Company, means earnings before interest and financing costs net of interest income , income taxes, depreciation and amortization, share-based compensation, business acquisition, restructuring and other, gain on sale of land, and foreign exchange gain. The decrease for the three months ended March 31, , when compared to the same period in the prior year, was primarily due to the closure of all gaming facilities on March 16, in response to the pandemic, partially offset by improved revenues during the quarter in the period prior to the gaming facility closures. Baker Chief Executive Officer. Three months ended March 31,. The forward-looking information contained herein is made as of the date hereof, is subject to change after such date, and is expressly qualified in its entirety by cautionary statements in this press release. The Company believes that the expectations reflected in forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct. Net earnings from continuing operations attributable to:. Net earnings. Share-based compensation. December 31,. Income taxes. This press release contains certain "forward-looking information" or statements within the meaning of applicable securities legislation. Organization Profile. The Company believes Adjusted EBITDA is a useful measure because it provides information to management about the operating and financial performance of the Company and its ability to generate operating cash flow to fund future working capital needs, service outstanding debt, and fund future capital expenditures. Long-term debt.{/INSERTKEYS}{/PARAGRAPH} Our team is diligently working on re-opening plans for our properties with a focus on health and safety best practices, and we will be ready to welcome back our team members and guests to our sites, when appropriate," stated Rod Baker , the Company's Chief Executive Officer. Forward-looking statements are frequently but not always identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "targeted", "planned", "possible" or similar expressions or statements that events, conditions or results "will", "may", "could" or "should" occur or be achieved. Financial Highlights. {PARAGRAPH}{INSERTKEYS}Financial results for the first quarter of were re-presented to exclude the results of the Company's U. Readers are cautioned not to place undue reliance on the forward-looking information. The pandemic has disrupted businesses around the world, including our own, and we are focused on navigating this difficult period to best position the Company to succeed in the long term. Foreign exchange gain. Such forward-looking information is not a guarantee of future performance and may involve a number of risks and uncertainties. The Company uses these measures because it believes they provide useful information to both management and investors with respect to the operating and financial performance of the Company. The Company undertakes no obligation to revise forward-looking information to reflect subsequent events or circumstances except as required by law. Non-controlling interests. Investors using the website should allow 15 minutes for the registration and installation of any necessary software. The Company's method of calculating these measures may differ from methods used by other entities and accordingly our measures may not be comparable to similarly titled measures used by other entities or in other jurisdictions. Share of profit of equity investment. Gain on sale of land. Net earnings attributable to:. These factors and other risks and uncertainties are discussed in the Company's continuous disclosure documents filed with the Canadian securities regulatory authorities from time to time, including in the "Risk Factors" section of the Company's Annual Information Form for fiscal , and as identified in the Company's disclosure record on SEDAR at www. On April 4, , the Government of Ontario mandated the closure of all non-critical construction projects which temporarily halted the remainder of the Company's Ontario capital projects under development. Forward-looking information is based on the Company's current expectations, estimates, projections and assumptions that were made by the Company in light of historical trends and other factors. The debentures will bear interest from the date of issuance at 5. Weighted average number of common shares in thousands. Shareholders of the company. Interest and financing costs, net. The financial results below are unaudited and prepared by management. Fundamental to the Company's culture is its commitment to social responsibility. Shareholders' net earnings per common share. Total assets. Readers are cautioned that these non-IFRS definitions are not recognized measures under International Financial Reporting Standards "IFRS" , do not have standardized meanings prescribed by IFRS, and should not be construed to be alternatives to net earnings determined in accordance with IFRS or as indicators of performance or liquidity or cash flows. Great Canadian will host a conference call for investors and analysts today, May 5, , at AM Pacific Time in order to review the financial results for the quarter ended March 31, To participate in the conference call, please dial , , or toll free at Questions will be reserved for analysts and institutional investors. March 31,. Adjusted EBITDA is derived from the Condensed Interim Consolidated Statements of Earnings and Other Comprehensive Income, and can be computed as revenues less human resources expenses and property, marketing and administration expenses plus the share of profit of equity investments relating to principal operating entities. A replay of the call will also be available at www. Although forward-looking information is based on information and assumptions that the Company believes are current, reasonable and complete, they are subject to unknown risks, uncertainties, and a number of factors that could cause actual results to vary materially from those expressed or implied by such forward-looking information. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Property, marketing and administration.