RICHMOND, BC, Feb. 11 /CNW/ - Great Canadian Gaming Corporation (TSX:GC) (the "Company") announced today that it has made several changes to its executive team. These changes represent further progress in the restructuring process the Company began during the fourth quarter of 2008. This process, in combination with a variety of expense reduction initiatives, has sought to encourage greater efficiency and market penetration across Great Canadian's property portfolio.
Rod Baker has been appointed to the position of President. Mr. Baker, who has a background in corporate restructuring, has assisted Great Canadian in a senior advisory role for the past eighteen months. His contributions have greatly improved the Company's financial position. In his role as President, Mr. Baker will assume oversight and management of Great Canadian's operations, and both evaluate and advance available business opportunities.
Peter Goudron has been appointed to the position of Vice-President, River Rock Casino Resort. Mr. Goudron, who will manage all aspects of Great Canadian's flagship property, previously held the roles of both Vice-President, Casino Operations, and Vice-President, Planning and Development. He possesses six years of experience with the Company, and more than fifteen years of experience within the gaming industry.
Terrance Doyle has been appointed to the position of Vice-President, Property Development and Procurement. Mr. Doyle, who will oversee the Company's redevelopment projects, previously held the role of Executive Director, Planning and Development, and possesses nearly a decade of experience with the Company.
"I am very pleased to announce these changes to our executive team," stated Ross J. McLeod, Great Canadian's Chairman and CEO. Mr. McLeod will continue to guide Great Canadian's strategic direction, a responsibility he has held for more than twenty-five years. "Despite the downturn that weakened the global economy throughout 2009, Great Canadian achieved significant improvements in both our efficiency and our financial performance. These three individuals, in combination with the other members of Great Canadian's management, played a critical role in facilitating these improvements. They will continue to optimize our operations from within their new positions, as well as assisting in Great Canadian's efforts to reverse the revenue trend witnessed through nine months of 2009. I believe that all of Great Canadian's stakeholders will benefit as a result."
ABOUT GREAT CANADIAN
Great Canadian Gaming Corporation is a multi-jurisdictional gaming and entertainment operator with operations in British Columbia, Ontario and Nova Scotia, Canada, and Washington State. The Company operates ten casinos, five horseracing facilities (three offer slot machines and one offers both slot machines and table games), a community gaming centre, a bingo hall, a hotel and conference centre, two show theatres and various associated hospitality outlets. Further information is available on the Company's website, www.gcgaming.com.
ON BEHALF OF GREAT CANADIAN GAMING CORPORATION
Director, Corporate Development and Investor Relations
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 2008, 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: For further information: GREAT CANADIAN GAMING CORPORATION (TSX:GC), Suite No. 350 - 13775 Commerce Parkway, Richmond, BC, V6V 2V4, Phone: (604) 303-1000, Fax: (604) 279-8605, Website: www.gcgaming.com; For investor enquiries: Mr. Nathan Sellyn, Director, Corporate Development and Investor Relations, (604) 303-1000, firstname.lastname@example.org; For media enquiries: Mr. Howard Blank, Vice-President, Media & Entertainment, (604) 512-6066