Great Canadian Gaming to begin reopening Ontario and New Brunswick casinos from Sept 28

Great Canadian Gaming Corporation (TSX: GC) has announced that on Sept. 28, 2020, it will reopen its casinos in Ontario and New Brunswick after operations were suspended at the properties on March 16 to help contain COVID-19.

The Richmond, B.C.-based company will reopen its 11 Ontario properties from the last Monday in Sept. as part of the province’s Stage 3 framework for the restarting of its economy, which has taken a hit since the Ontario Lottery and Gaming Corporation (OLGC) ordered all casinos there to shut down nearly six months ago.

Reopening guidelines:

According to the company, it will adhere to provincial guidelines, which include limiting indoor gatherings to a maximum of 50 people and no table games or “other amenities.”

The company’s Casino New Brunswick property will open on the same day, with guests limited to 25 percent of capacity, while the availability of its slot machines will be just over 50 percent and most amenities suspended.

In Nova Scotia where in mid-June casinos were given initial approval to reopen for business, the company says it continues to work with the Nova Scotia Gaming Corporation on preparations that are required in order for its two properties in the province to reopen.

BC holdout:

Meanwhile, Great Canadian’s properties remain closed in British Columbia as mandated by the provincial government.

In a statement in the press release (pdf) Chief Executive Officer for Great Canadian Gaming Corporation, Rod Baker, commented on the reopenings, saying…

“I’m pleased we are able to safely reopen our facilities in Ontario and New Brunswick, allowing us to bring back to work team members in each province.

“Once open, gaming revenues in each jurisdiction will be significantly reduced due to operating restrictions,” Baker continued. “The reductions will be especially significant for our Ontario properties where, due to the 50-guest maximum restriction, we expect no material financial benefit to the Company from our 11 Ontario locations.”

“In B.C., no approval has been granted for casinos to reopen, and as such, the company will continue to manage its assets in the closed state,” Baker concluded.

Great Canadian:

An Ontario-based company, Great Canadia was founded in 1982 and operates 25 gaming, entertainment and hospitality facilities in Ontario, British Columbia, New Brunswick, and Nova Scotia. Its facilities include more than 16,000 slot machines, 575 table games, 71 dining amenities, and 500-plus hotel rooms.