News Release Archive

The Nova Scotia Gaming Corp. reports net income of $119 million
for the year ended March 31, 1997. This represents an eight per
cent increase over the $110 million gaming activities generated
for the province a year before.

The gains came from increased VLT revenue, as new machines came
on line with the opening of new licensed premises, and additional
casino revenue.

The annual figures, released today, included results from the
first full year of operations for both the Sheraton Halifax
Interim Casino and the Sheraton Sydney Casino. The Halifax casino
generated gaming revenue before taxes of $46.3 million, compared
with $34.9 million for its 10 months of operations in the
previous year. The Sydney casino had significant growth in
business during the past year, generating casino revenue before
taxes of $24.7 million, compared with $13.3 million for its eight
months of operations in 1995-96.

Ralph Fiske, chairman of the gaming corporation, said he is
pleased with the financial results.

"The Sydney casino has posted its first profit ever and this is
during a year in which the casino had to play catchup related to
its slower start last year."

The Sheraton has guaranteed the province a minimum of $100
million over four years for the casinos. In 1996-97, the casino
operator had to top up revenues to the province by $8.3 million
to achieve the $25-million annual guarantee.

During the year, Nova Scotia's casinos paid $1 million to the
Department of Health for research, education and treatment of
problem gaming. In addition, video lottery retailers and the Nova
Scotia Gaming Corp. contributed $636,000 to the VLT Problem
Gaming Fund, which now totals $1.2 million.

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Contact: Ralph Fiske
         Nova Scotia Gaming Corp.

NOTE TO EDITORS: The Nova Scotia Gaming Corp's Annual Report and
Fourth-Quarter Report is available at the corporation's office at
5151 George St., Suite 800, Bank of Montreal Building, Halifax,
902-424-2203, and at the Nova Scotia Government Bookstore, 1700
Granville Street, Halifax, 1-800-526-6575 or 902-424-7580.

jlw                         July 11, 1997        11:15 a.m.