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RED DEER, AB / ACCESSWIRE / November 14, 2023 / Gamehost Inc. (TSX:GH) Management and Directors of Gamehost Inc. (the "Company") present results for the nine and three months ended September 30, 2023 (the "Period" and "Quarter" respectively).

Operating revenue for the Quarter was up 18.3% to $21,392.6 thousand ($18,809.4 thousand - 2022) and EBITDA was up 53.0% to $9,459.7 thousand ($6,182.3 thousand - 2022). Earnings per share for the Quarter nearly doubled to $0.27 ($0.14 - 2022).

Comparative results for the Quarter reflect a two-percentage point increase in the operators share of electronic gaming device Hold from 15% to 17%. AGLC approved the temporary, two year, increase effective April 1, 2023. The increase is intended to incentivize operators to make investments in their facilities or promotions that will increase gaming revenues and will be evaluated at regular intervals by AGLC during the two-year period. Management is hopeful that results following the two-year period will support the change being made permanent.

All company assets reported year-over-year gains in revenue, cashflow and margins. Wildfires that in the prior quarter suppressed rooming revenue at our northern hotels in Grande Prairie by keeping oil & gas crews out the field were a boost to rooming revenues at all Company hotels during the Quarter from wildfire evacuees.

The Company applied $4,129.2 thousand to reduce debt during the Quarter and has reached a debt to EBITDA ratio of 1.5 to 1 on a trailing twelve-month basis.

Consumers in the province have proven to be very resilient to the headwinds of inflation and any negative sentiment towards a slowing economy. Provincial Cash Play numbers for slot machines entered record territory towards the end of the prior quarter and have since marched steadily higher. Very favourable in-migration to the province could be masking the true impact of inflation and higher interest rates and we expect at some point to feel their impact on revenue growth. In the meantime, we are enjoying the benefits Alberta is famous for and sharing positive news again after some difficult years.

Gamehost Inc.
Financial Highlights
Unaudited - Canadian dollars (thousands except per share figures)

Gamehost has declared a cash dividend for the month of November 2023 of $0.04 (CDN) per common share, which equates to $0.48 (CDN) per common share on an annualized basis. The dividend represents a 33.3% increase to the regular monthly dividend and will be paid on December 15, 2023 to shareholders of record on November 30, 2023. This dividend is considered an "Eligible Dividend" and therefore, eligible for the enhanced gross-up and dividend tax credit available to Canadian shareholders.

This press release may contain certain "forward-looking information" or statements within the meaning of applicable securities legislation and may contain words such as "anticipates", "believes", "could", "expects", "indicates", "plans", "withstand", "further" or other similar expressions that suggest future outcomes or events. Forward-looking information is based on the Company's current expectations, estimates, projections and assumptions that were made by the Company in light of its historical trends and other factors. All information or statements, other than statements of historical fact, are forward-looking information including any statements that address expectations related to future economic outcomes or the Company's dividend. Forward-looking statements reflect reasonable assumptions made on the basis of management's current beliefs with information known by management at the time of writing. Many factors could cause actual results to differ from the results discussed in forward-looking statements. Actual results may not be consistent with these forward-looking statements.

The Company has included non-International Financial Reporting Standards ("non-IFRS") measures in this press release. EBITDA, as defined by the Company, means earnings before interest and financing costs, income taxes, depreciation and amortization, and foreign exchange gains or losses. The Company believes EBITDA is a useful measure because it provides information to management and investors about the Company's performance in generating operating cash flow to fund working capital needs, service debt obligations, fund future capital expenditures and support dividend policy. Readers are cautioned that non-IFRS measures do not have any standardized meaning prescribed by IFRS and should not be taken as alternatives to net earnings measured in accordance with IFRS. The Company's method of calculating non-IFRS measures may not be comparable to similarly titled measures used by other reporting entities.

Gamehost is a corporation established under the laws of the Province of Alberta. The Company's operations are all located in the Province of Alberta, Canada. Operations of the Company include the Rivers Casino & Entertainment Centre in Ft. McMurray, the Great Northern Casino, Service Plus Inns & Suites and Encore Suites hotels as well as a strip mall all located in Grande Prairie and the Deerfoot Inn & Casino in S.E. Calgary.

These consolidated interim financial results include the accounts of Gamehost Inc. and its subsidiaries; however, they do not include all disclosures normally provided in consolidated interim financial statements and should be read in conjunction with the 2023 Q3 consolidated interim financial statements. Further, while the financial figures included in this announcement have been computed in accordance with IFRS applicable to annual periods, this announcement does not contain sufficient information to constitute an annual financial report and should be read in conjunction with the 2022 annual financial report for the twelve and three months ended December 31, 2022. This interim report will be filed in its entirety, along with historical financial reports on the Company's website at www.gamehost.ca and on SEDAR at www.sedar.com along with the Company's other continuous disclosure documents, when they are available.

Gamehost common shares trade on the Toronto Stock Exchange (TSX) under the symbol GH. For more information, contact:

Craig M. Thomas or Darcy J. Will
P (877) 703-4545
F (403) 340-0683
E ir@gamehost.ca

SOURCE: Gamehost Inc.