TORONTO, March 23, 2020 /CNW/ - Great Canadian Gaming Corporation [TSX:GC] ("Great Canadian" or the "Company") today issued the following statement from Peter Meredith, Chairman of the Board of the Company.
"Given the rapidly escalating COVID-19 pandemic and the significant global uncertainty that has ensued, on behalf of the entire Board of Directors of the Company, we extend our heartfelt thoughts to our shareholders and stakeholders, as well as their families and friends during this unprecedented period. The effects of this emergency may be felt for some time, and thus, good corporate governance is crucial in these extraordinary circumstances. You can trust that our Board is dedicated to timely yet prudent decisions, transparent communication and resilient measures to ensure the long-term stability of the Company.
Under the strong leadership of Rod Baker, the Company's CEO, our caring, diligent and experienced management team is working with our Board to actively monitor the implications that COVID-19 has had- and may have- on the future of our business. We would also like to acknowledge the incredible efforts that have been undertaken, and continue, across the Company by our operating teams who have been working tirelessly throughout this period to ensure the health and safety of our team members and guests.
This unprecedented situation has no playbook, but our team is well prepared and well-equipped, and making thoughtful decisions on a day-by-day or even hour-by-hour basis. We are making vital strategic and operating decisions to ensure that the Company is in the best possible position to withstand the ongoing volatility.
In our effort to contain the spread of the COVID-19 virus and to protect the health of our team members and guests, we worked closely with the respective lottery corporations to suspend operations at the Company's 25 facilities across Canada. Unfortunately, these closures have impacted a significant number of our team members in Ontario, British Columbia, New Brunswick and Nova Scotia. We are hopeful that the suspension of our operations is for a short duration and we look forward to welcoming back our valued team members and guests with the reopening of our facilities.
Recognizing the collective efforts being adopted nationally to contain the spread of the COVID-19 virus, the Company will be holding its annual general meeting ("AGM") entirely virtually at the advice of our Board of Directors and guidance from the Canadian Securities Administrators. The Company remains committed to providing a safe environment for all its constituents and is thankful for the opportunity to utilize modern technology that will allow our shareholders to be safe while having the opportunity to participate and engage in our upcoming AGM. Full details regarding the AGM, voting and attendance on a virtual basis will be available in the Company's information circular and proxy materials to be filed on SEDAR (www.sedar.com) in the coming week.
More than ever, we are grateful for the continued support of our dedicated shareholders. As we are sure all investors can appreciate, this is a rapidly evolving situation, and we will endeavour to continue to keep you informed of material developments as they occur."
ABOUT GREAT CANADIAN GAMING CORPORATION
Founded in 1982, Great Canadian Gaming Corporation is an Ontario based company that operates 25 gaming, entertainment and hospitality facilities in Ontario, British Columbia, New Brunswick, and Nova Scotia. Fundamental to the Company's culture is its commitment to social responsibility. "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 supports over 1,400 charitable and non-profit organizations across Canada. 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.
SOURCE Great Canadian Gaming Corporation
For further information: For investor enquiries: [email protected] or Ms. Tanya Ruskowski Executive Assistant to the Chief Executive Officer and the President, Strategic Growth & Chief Compliance Officer, (604) 303-1000; For media enquiries: Mr. Chuck Keeling, Executive Vice-President, Stakeholder Relations & Responsible Gaming, (604) 247-4197, [email protected]