News release

Second-Quarter Report Shows $33.6M Net Income

The Nova Scotia Gaming Corp. is reporting net income of $33.6 million for the second quarter ending Sept. 30, 1998. This is up about $3 million from the same quarter in 1997.

"The mandate of the Nova Scotia Gaming Corp. is to conduct the business of gaming in a socially responsible manner," said Dara Gordon, vice-chair of the corporation. "The corporation has renewed its commitment to this objective."

The major source of revenue for the corporation is the Atlantic Lottery Corp. Nova Scotia received $31.8 million in profit from the lottery corporation for the second quarter, compared with $29 million for the same period last year.

Quarterly profit for the Halifax interim casino increased by about $1 million, to $3.2 million from $2.2 million. Revenue for the quarter was $14.2 million, compared with $13.9 million for the same period last year.

Sydney casino profits for the second quarter are also up slightly, to $1 million this year from $927,037 in 1997. Revenue for the quarter was $7.3 million, which was the same as last year's second quarter.

NOTE: The following is intended for use by broadcast media.

The Nova Scotia Gaming Corporation is reporting a profit for the second quarter.

For the three months ending September 30th, net income was 33-point-six-million dollars.

That's up about three-million dollars from the same quarter in 1997.

The Atlantic Lottery Corporation is the major source of revenue.

Nova Scotia received 31-point-eight-million in profit from the lottery corporation in the second quarter, compared with 29-million dollars for the same period last year.

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Contact:

Jennifer MacIsaac
Nova Scotia Gaming Corp. 902-424-2203
ngr                  Dec. 18, 1998                   10:47 a.m.