Great Canadian Gaming Announces Closing of Redemption of Senior Unsecured Notes

COQUITLAM, BC, Dec. 11, 2018 /CNW/ - Great Canadian Gaming Corporation [TSX:GC] ("Great Canadian," or "the Company") today completed its previously announced early redemption of the 6.625% senior unsecured notes ("Senior Unsecured Notes").

All the Senior Unsecured Notes were redeemed today for a total redemption price of $471.3 million, including principal of $450.0 million, an early redemption premium of $9.9 million and unpaid interest of $11.4 million.  The Company funded the redemption using proceeds from the $350.0 million term loan facility under its senior secured credit facilities agreement and available cash reserves.

ABOUT GREAT CANADIAN GAMING CORPORATION
Founded in 1982, Great Canadian Gaming Corporation is a BC based company that operates 27 gaming, entertainment and hospitality facilities in Ontario, British Columbia, New Brunswick, Nova Scotia, and Washington State. 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 invests over $2.5 million in our communities, and in 2017, over 1,900 charitable organizations were supported by Great Canadian. 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.

GREAT CANADIAN GAMING CORPORATION [TSX:GC]
95 Schooner Street
Coquitlam, BC
V3K 7A8
(604) 303-1000
Website: www.gcgaming.com

SOURCE Great Canadian Gaming Corporation