Casino operators report higher profits

RED DEER — Gamehost Inc. (TSX:GH), an Alberta-based hotel and casino operator, reports higher fourth-quarter earnings as revenues grew more than 50 per cent from the year-ago period.

RED DEER — Gamehost Inc. (TSX:GH), an Alberta-based hotel and casino operator, reports higher fourth-quarter earnings as revenues grew more than 50 per cent from the year-ago period.

The Red Deer-based company reported net profits of $4.8 million, or 20.5 cents per share, compared with $4.6 million, or 22 cents per share, in the year-earlier period.

Revenue was $18.2 million, up 54 per cent from $11.8 million from the year-earlier period.

The former trust fund converted to a divided-paying corporation as of Dec. 31, with all units exchanged for shares.

The company expects to see guest room sales and casino traffic pick up in Grande Prairie, Alta., once construction begins in April on a new hospital adjacent to the Service Plus Hotel and Great Northern Casino.

It expects its Deerfoot location to benefit similarly from the South Health Campus project in Calgary

Gamehost’s operations are located across Alberta.