GH Gamehost Inc

RED DEER, ALBERTA--(Marketwired - Mar 17, 2014) - Management and Directors of Gamehost Inc. (TSX:GH) (the "Company") are pleased to present results for the three and twelve months ended December 31, 2013 (the "Quarter" and "Period" respectively).

Winter Bites

Total operating revenues for the Quarter were flat at $19.8 million to the same quarter of 2012. Earnings before interest, taxes, depreciation and amortization ("EBITDA") that is attributable to shareholders of the Company ("EBITDA to Shareholders") declined $0.4 million to $8.2 million versus $8.6 in the same quarter one year earlier. EBITDA to Shareholders margin percentage declined in step by 210 basis points to 43.4% from 45.5% in the Quarter compared to one year earlier. Stretches of difficult table Holds during the Quarter and harsh winter temperatures and record December snowfall are to blame for what was otherwise shaping up to be very good quarterly results.

This and That

From the end of the previous quarter to February 28, 2014, the Company repurchased 183,200 of the Company's common shares on a Normal Course Issuer Bid that expires April 16, 2014. Total acquisition costs were $2.7 million at an average purchase price of $14.45/share. Over the same period, debenture conversions of face value $2.4 million resulted in the issue of 221,118 common shares.

Citius - Altius - Fortius

In the spirit of the Olympics we thought we'd start working out to improve our physique. Great Northern Casino in Grande Prairie completed a $1.8 million facelift and expansion including a complete refurbishment of the food, beverage and entertainment areas. Great Northern has the only intimate live entertainment showroom of its kind in the city. The additional showroom space will now accommodate live entertainment offerings that were not previously cost effective to showcase. City residents will benefit by seeing acts they would otherwise have had to travel to larger centres such as Edmonton to see. Early reception to the completed project has been very favourable and we look forward to continuing a tradition of being Grande Prairie's gold medal entertainment venue.

Chinese Zodiac

The Chinese Zodiac doesn't have a Turtle, but they should. At the outset of the year, we anticipated a cautious, consistent and deliberate execution of core elements of our past success. Provide superior customer experiences; don't spend without good potential for reward, nothing fancy. You know, slow and steady wins the race. Sounds boring, I know. Looking back, Gamehost common shares closed the year at $14.89 up 17.2% from their $12.70 value at the start of 2013. And that doesn't even include the additional 6.9% in yield provided by regular monthly dividends. By comparison, the S&P/TSX composite index rose 9.6% over the same period. 2014 is the year of the Horse, but we say, go Turtle!

2013 has been a year of uncertainty on many fronts in the world, peace, economic and socio-political. Isn't it nice to be able to count on something? We'll do our best to continue to deliver the results in 2014 that you have come to expect and count on.

Gamehost has also declared a cash dividend for the month of March 2014 of $0.0733 per common share. The dividend will be paid on April 15, 2014 to shareholders of record on March 31, 2014. The ex-dividend date is March 27, 2014.

This dividend is considered an "Eligible Dividend" and therefore, eligible for the enhanced gross-up and dividend tax credit available to shareholders.

This press release may contain forward-looking statements. Forward-looking statements may contain words such as "anticipates", "believes", "could", "expects", "indicates", "plans" or other similar expressions that suggest future outcomes or events. Use of these statements reflect reasonable assumptions made on the basis of management's current beliefs with information known by management at the time of writing. Many factors could cause actual results to differ from the results discussed in forward-looking statements. Actual results may not be consistent with these forward- looking statements.

Gamehost is a corporation established under the laws of the Province of Alberta. The Company's operations are all located in the Province of Alberta, Canada. Operations of the Company include the Boomtown Casino in Ft. McMurray, the Great Northern Casino, Service Plus Inns & Suites hotel and a strip mall all located in Grande Prairie. The Company also holds a 91% ownership position in Deerfoot Inn & Casino Inc. in Calgary.

These annual consolidated financial results include the accounts of Gamehost Inc. and its subsidiaries; however, they do not include all disclosures normally provided in annual consolidated financial statements and should be read in conjunction with the 2013 annual consolidated financial statements. Further, while the financial figures included in this annual results announcement have been computed in accordance with IFRS applicable to annual periods, this announcement does not contain sufficient information to constitute an annual financial report. The company will file an annual financial report for the annual period ended December 31, 2013. This report will be filed in its entirety, along with historical financial reports on the Company's website at www.gamehost.ca and on SEDAR at www.sedar.com along with the Company's other continuous disclosure documents, when they are available.

Gamehost common shares and convertible debentures trade on the Toronto Stock Exchange (TSX) under the symbols GH and GH.DB respectively.

Gamehost Inc.Craig M. Thomas or, Darcy J. Will(877) 703-4545(403) 340-0683info@gamehost.cawww.gamehost.ca

Gamehost (TSX:GH)
Historical Stock Chart
From Nov 2024 to Dec 2024

Gamehost (TSX:GH)
Historical Stock Chart
From Dec 2023 to Dec 2024