Gamehost reports earnings

Red Deer-based Gamehost Inc. (TSX: GH) reported on Tuesday that its profit and comprehensive income for the three months ended June 30 was $5.6 million. That was down 22 per cent from $7.2 million for the same period of 2012.

Red Deer-based Gamehost Inc. (TSX: GH) reported on Tuesday that its profit and comprehensive income for the three months ended June 30 was $5.6 million. That was down 22 per cent from $7.2 million for the same period of 2012.

Operating revenue for the second quarter was $19.4 million, up slightly from $19.1 million a year earlier. Earnings per share were 23 per cent, down from 31 cents.

Gamehost’s earnings before interest, taxes, depreciation and amortization (EBITDA), attributable to owners, hit a record $8.7 million in the second quarter. That figure compares with $8.6 for the same quarter of 2012.

The company said in a release that it’s repurchased and cancelled 300,000 common shares at an average price of $13.31, for a total of $3.6 million. During the same time period, 5.2 million in debentures were converted into 500,000 common shares, resulting in a net increase of 200,000 shares.

Gamehost operates Boomtown Casino in Fort McMurray, and the Great Northern Casino, Service Plus Inns & Suites hotel and a strip mall in Grande Prairie. It also has a 91 per cent ownership interest in Calgary’s Deerfoot Inn & Casino.