News Release Archive

GAMING CORPORATION-QUARTERLY REPORT
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Nova Scotia took in more than $58 million in gaming revenue
during the first three months of the 1995-96 fiscal year, with
$25 million of that coming in a lump-sum payment from the
Sheraton casino.

The Nova Scotia Gaming Corporation today released a financial
report for the first three months of the 1995-96 fiscal year,
ending June 30.

Provincial gaming revenues during the period include $33.97
million from the Atlantic Lottery Corporation and $25 million
from the Sheraton. When the Halifax casino opened its doors in
June, the Sheraton presented the province with the $25 million
cheque as the first installment of a $100 million guarantee.

"The guarantee makes the taxpayers of Nova Scotia the only sure
winners at the casino," said Gaming Corporation president Ralph
Fiske. Regardless of the profit level of the casino, the province
will take in a minimum of $25 million a year for four years from
casino operations. If casino profits are higher, provincial
revenues will be higher.

The Gaming Corporation's report covers only one month of casino
operation - its first month. In June, the casino took in $2.7
million in revenue, and paid $1.1 million in salaries and
benefits. The Sheraton made an additional payment of $83,333 to
the provincial government, in keeping with its commitment to
provide $1 million annually to combat problem gambling.

Mr. Fiske said casino revenues in June were lower than
anticipated, but added that the Sheraton casinos are a new
business venture in Nova Scotia, and will need time to grow and
develop their markets.

"Like any new business venture, the casinos will go through a
period of adjustment. That is what's happening now. In addition,
the Sheraton is just beginning to market the casinos outside Nova
Scotia, where a sizable chunk of future business will come."

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Contact: Ralph Fiske  902-424-2203

NOTE: THE FINANCIAL REPORT OF THE GAMING CORPORATION FOR THE
FIRST THREE MONTHS OF FISCAL 1995-96 IS AVAILABLE AT THE NOVA
SCOTIA GOVERNMENT BOOKSTORE, 1700 GRANVILLE STREET, HALIFAX. 
TOLL FREE 1-800-526-6575.

trp                       Oct. 5, 1995