Great Canadian Gaming Posts Stellar Report
Great Canadian Gaming Corporation has released details about its financial performance for the 12-month period leading up to December 31st, 2019. It’s good news all round for the operator thanks to a 15% revenue spike. Quarterly improvement proved a charm too, with the fourth quarter having come in markedly higher on the performance than what was the case the Q4 the previous year. A year-on-year improvement is evident all round.
Quarterly performance reports offer a valuable peek into the interim swing of things. Much is to be gained from taking advantage of the privilege of hindsight and essentially, this is exactly what financial reporting and even financial year-on-year comparisons are all about. Valuable insight is gained into whether or not a company has managed to reach its projected goals.
Quarterly Revenue Up By 8%
Great Canadian Gaming’s fourth quarter results for 2019 represent an 8-percent revenue increase on a year-on-year comparison basis. What this basically means is that the operator generated 8% more revenue during the final quarter of 2019 than what had been the case for the final quarter of 2018.
As far as the overall performance for 2019 goes, CA$1,355.6 million proves a charm at 15% better a performance when compared to the previous year. As for the adjusted EBITDA, this came to CA$152 million for 2019’s Q4. Which is quite the improvement when compared with the EBITDA for the same period in 2018, which as a considerably lower CA$117.8 million.
Q4 2019 Was A Busy Time
The operator did all of this and more during a very busy 2019 Q4. December marked a period of major transition for Great Canadian Gaming, not least of all as a result of the appointment of new Chief Operating Officer Matthew Anfinson.
And to say that Anfinson’s appointment was only the beginning of a new era for the operator would be an understatement. The operator announced halfway through February that it had begun a process that will allow for the purchase-driven cancellation of up to a max value of CA$500 million of its common shares. The process is expected to be wrapped up by March 20th.
The remainder of 2020 now beckons and its shaping up to be quite the ride for the operator. This year will see the launch of the new casino resort at Pickering; a project Great Canadian Gaming has described as Las Vegas coming to Ontario. And judging by the financial performance recently reported, the operator is more than ready to make a success of Pickering Casino Resort.