Quarterly Report Released

The Nova Scotia Gaming Corporation is reporting net income of $33.3 million for the third quarter ending December 31, 1997.

This is up more than $3 million from the same quarter in 1996. For the year to date, net income is up $6.7 million to total $95.2 million.

"Nova Scotians want the business of gaming to be properly monitored and managed. We are committed to that goal," said Dara Gordon, vice-chair of the corporation.

The major source of revenue for the corporation comes from the Atlantic Lottery Corporation. It generated profit of $30.9 million in the third quarter, compared with $27.5 million for the same period one year ago.

Casino revenues are up in both Halifax and Sydney compared to the same quarter last year.

The province earns 20 cents from every dollar of revenue generated by the casinos in the form of a win tax. For the year to date, win tax collected by the province totals approximately $11.5 million.

The Nova Scotia Gaming Corporation has earned $3.1 million from the Halifax casino, almost twice as much as the 1996 net operating income. In Sydney, net operating income exceeded $1 million. The corporation provides this money to the province to be split evenly between qualified Nova Scotian charities and the First Nations that have signed gaming agreements.

NOTE TO EDITORS: Copies of the quarterly report are available by
calling the Nova Scotia Gaming Corporation at 902-424-2203.