Canadian PressTuesday, November 27th, 2007
RICHMOND, B.C. - Great Canadian Gaming Corp. (TSX:GC) says it is buying the Ridge Meadows Bingo Association in Maple Ridge, B.C. for $1 million. Richmond, B.C.-based Great Canadian said the deal also includes potential additional future consideration of up to $1.25 million over 10 years if approvals to build a Community Gaming Centre in Maple Ridge are granted by the British Columbia Lottery Corporation and the Maple Ridge district. Great Canadian said the deal is expected to close at the end of the year, subject to required regulatory approvals. Ridge Meadows Bingo Association operates the Haney Bingo Plex, a 525-seat bingo gaming hall located in downtown Maple Ridge, 45 kilometres east of Vancouver. In November 2006, Great Canadian bought four acres of land in Maple Ridge and plans to develop a gaming property there. Meantime, it said operations at the Haney Bingo Plex will stay the same while it "considers this longer-term potential redevelopment."
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