Gaming Corporation Quarterly Report Released
The Nova Scotia Gaming Corp. is reporting net income of $34.5 million for the third quarter ending Dec. 31, 1998. This is up about $1.2 million from the same quarter in 1997.
"The Nova Scotia Gaming Corp. is committed to managing gaming in a responsible and prudent manner," said Dara Gordon, Gaming Corp. vice-chair. "We have placed a renewed emphasis on responsible gaming. We manage the business, but we also care about how that business affects Nova Scotians."
The major source of revenue for the corporation comes from the Atlantic Lottery Corp. Nova Scotia received $32.4 million in profit from the lottery corporation for the third quarter, compared with $31 million for the same period last year.
Quarterly profit for the Halifax interim casino was $2.5 million, an increase of about $2.1 million from the same quarter in 1997 due to the full amortization of the capital costs of the interim casino. Revenue for Halifax for the quarter was $12.6 million, compared with $11.8 million for the same quarter last year.
Sydney profits for the quarter were about $775,000, compared with 1997's third-quarter loss of $140,000. Revenue for the quarter was $6.8 million, up from the $6.4 million in 1997.
NOTE: The following is intended for use by broadcast media.
The Nova Scotia Gaming Corporation is reporting a profit for the third quarter.
For the three months ended December 31st, net income was 34-point-five-million dollars.
That's up about one-point-two-million dollars from the same quarter in 1997.
The Atlantic Lottery Corporation is the major source of revenue for the gaming corporation.
Nova Scotia received 32-point-four-million dollars in profit from the lottery corp in the third quarter, up about one-and-a-half-million from the same period last year.
- Jennifer MacIsaac
- Nova Scotia Gaming Corp. 902-424-2203 or 902-491-2548
NOTE TO EDITORS: The quarterly report is available by calling the Nova Scotia Gaming Corp. at 902-424-2203 or Communications Nova Scotia at 902-424-4492, e-mail CNSrelease@gov.ns.ca .
Reports can also be obtained from the Government Bookstore, 1700 Granville St., Halifax, 902-424-7580 or 1-800-526-6575.
ngr March 3, 1999 11:44 a.m.