News Release Archive

N.S. GAMING CORP.--Second-Quarter Report Released
The Nova Scotia Gaming Corp. is reporting net income of $30.6
million for the second quarter ending Sept. 30. This is up more
than $2 million from the same quarter in 1996. For the year to
date, net income is up $3.4 million to total $61.8 million. 

"Our job is to look out for the interests of Nova Scotia in the
business of gaming, and we are working with our operators to
maximize gaming profits in a fair and responsible manner," said
Dara Gordon, acting chair of the corporation. The corporation's
operators are the Atlantic Lottery Corp. and Sheraton Casinos
Nova Scotia. 

The major source of revenue for the gaming corporation comes from
the Atlantic Lottery Corp. It generated profit of $28.9 million
in the second quarter, compared with $26.9 million for the same
period a year ago. To ensure Nova Scotia receives its fair share
of profit, the Nova Scotia Gaming Corp. is working with the
Atlantic Lottery Corp. and the other Atlantic shareholders to
review the profit distribution formula.

As of the end of September, profits for the Sydney casino total
more than $1 million. More than $900,000 of this amount was
generated in the second quarter. The Nova Scotia Gaming Corp.
will pay this money to the province to be split evenly between
qualified Nova Scotian charities and First Nations that have
signed gaming agreements. 

Profit for the Halifax casino has almost doubled compared with
last year's second quarter. In Halifax, 65 per cent of profit
goes to the corporation for distribution to the province. 

For the year to date, casino revenue before taxes has increased
by more than $900,000 in Halifax and about $968,000 in Sydney.
The province receives 20 cents off the top on every dollar of
revenue generated by the casinos in the form of a win tax. To
date for 1997, win tax collected by the province totals about $8
million. For the first four years of casino operations, Sheraton
guarantees a total minimum revenue of $25 million per year in the
form of an income guarantee.

Today, the corporation also delivered to the legislature's public
accounts committee certain information requested during the
corporation's recent appearance.


Contact:  Jennifer MacIsaac
          Nova Scotia Gaming Corp.
          902-424-0167 or 902-424-3219

NOTE TO EDITORS: The quarterly report is available by calling the
Nova Scotia Gaming Corp. at 902-424-2203. It is also available at
the Government Bookstore, 1700 Granville St., Halifax,
902-424-7580 or 1-800-526-6575.

ngr                Nov. 7, 1997                 12:00 p.m.