GREAT CANADIAN GAMING COMPLETES ACQUISITION OF CHILLIWACK BINGO ASSOCIATION

RICHMOND, BC, June 1, 2011 /CNW/ - Great Canadian Gaming Corporation [TSX: GC] ("the Company") announced today that the Company has completed its acquisition of the assets and undertaking of the Chilliwack Bingo Association ("CBA").

The CBA operates Chilliwack Bingo, a bingo hall in Chilliwack, British Columbia. Currently located in a leased facility, Chilliwack Bingo generated the greatest bingo revenues in British Columbia during the 2009-2010 fiscal year, and recorded $0.9 million of EBITDA during the CBA's 2010-2011 fiscal year.

In addition to Chilliwack Bingo, the CBA's assets include an approximately five acre site in Chilliwack, which the CBA purchased in 2008 for $6.5 million. The Company intends to use this site for the development of a community gaming centre.

Consideration to the CBA was $10.0 million. The agreement between Great Canadian and the CBA also includes potential additional future consideration over twenty years should the Company successfully develop Chilliwack Bingo into a community gaming centre.

ABOUT GREAT CANADIAN

Great Canadian Gaming Corporation is a gaming and entertainment provider with operations in British Columbia, Ontario and Nova Scotia, and Washington State. The Company operates ten casinos, four racetracks, two community gaming centres, and various associated amenities. Further information is available on the Company's website, www.gcgaming.com.

ON BEHALF OF GREAT CANADIAN GAMING CORPORATION
"Original signed by Rod N. Baker"

____________________________
Rod N. Baker President

GREAT CANADIAN GAMING CORPORATION [TSX:GC]
Suite #350 -13775 Commerce Parkway
Richmond, BC V6V2V4
Phone: (604)303-1000
Website: www.gcgaming.com

DISCLAIMER

This news release contains forward-looking statements which reflect management's current expectations regarding the Company's objectives, plans, goals, strategies, future growth, results of operations, performance and business prospects and opportunities. These forward-looking statements are not guarantees, but only predictions. Although the Company believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a number of factors that could cause actual results to vary significantly from current expectations. Such differences may be caused by factors which include, but are not limited to, ongoing requirements to comply with financial covenants associated with credit facilities, limited terms of operational service agreements with gaming regulators, pending and proposed legislative or regulatory developments, competition from established competitors and new entrants in the gaming business, dependence on key personnel, no assurance that systems, procedures and controls will be adequate to support expanding operations, potential undisclosed liabilities and capital expenditures associated with acquisitions, negative connotations linked to the gaming industry, First Nations claims with respect to public lands on which we conduct our operations, impact of legal proceedings, impact of smoking bans, interest and exchange rate fluctuations, non-realization of cost reductions and synergies, acceptance and demand for new products and services, fluctuations in operating results and general economic conditions. The Company cautions that this list of factors is not exhaustive. These factors and other risks and uncertainties are discussed in the Company's materials filed with the Canadian securities regulatory authorities from time to time, including in the "Risks Factors" section of the Company's Annual Information Form for fiscal 2010, or as identified in the Company's disclosure record on www.sedar.com. The forward-looking statements included in this news release are made only as of the date of this news release and the Company does not undertake to publicly update these forward-looking statements to reflect new information, future events or otherwise.

SOURCE Great Canadian Gaming Corporation

For further information:

Investor Enquiries:
Mr. Nathan Sellyn
(604)306-0015

Media Enquiries:
Mr. Howard Blank
Vice-President, Media, Entertainment & Responsible Gaming
(604)512-6066
Fax: (604) 279-8605


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