As online gambling continues to grow and develop, industry spectators wonder about the future of land-based casinos. However, casinos in Canada seem to be doing just fine, as land-based operator Great Canadian Gaming has just posted impressive financial results for the second quarter of 2011.
According to a financial report, Great Canadian Gaming brought in $99.5 million in revenue during the second quarter of this year, marking a $2.5 million increase from the same time last year. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) is $37.8 million, a $2.8 million increase from last year.
River Rock Casino in British Columbia contributed the most to this growth, as the casino’s quarterly revenue increased by $3.7 million. Other casinos across British Columbia showed an increase of just $1.1, in comparison.
Some venues were not as fortunate, however. Boulevard Casino saw a decline of $2 million, as the casino struggled to bring in customers due to ongoing construction. Racing tracks across BC also saw a decline of $1.1 million, as the horse racing market as a whole struggles with loss of interest.