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Great Canadian Gaming Corporation Revenues Up

RICHMOND, British Columbia – (Press Release) --Anthony R. Martin, Chief Financial Officer of Great Canadian Gaming Corporation (TSX-V: GCD) (the 'Company'), is pleased to announce the financial results for the Company's nine months ended September 30, 2003.

For the nine months ended September 30, 2003, the Company's total revenues increased by 18% to $80.3 million, net income after tax increased by 23% to $15 million or $0.11 per share over the same period in the prior year. These increases are mainly attributed to the new table games and increased number of slot machines in BC, the new Tukwila facility, the acquisition of Big Al's casino in Washington State, and the opening of the Tacoma casino. During the nine months ended September 30, 2003, the Company's shareholders'equity, more than doubled to $67.5 million, which is mainly attributed to the issuance of common shares of $23.3 million and increase in retained earnings of $14.2 million.

The Company's cash and cash equivalents increased from $22.9 million on December 31, 2002 to $28.1 million on September 30, 2003. The increase is mainly attributable to cash flow from operating activities of $20.2 million, financing activities of $26.8 million, offset with cash used in investing activities of $40 million and foreign exchange of $1.8 million.

The Company has subscribed for 8,400,000 shares of Creation Ventures Inc. converting $2.1 million of its loan into shares at $0.25 per share, the interest will be paid by cash, taking its percentage interest in Creation to 38% of the issued capital. The Company will also be issued 4,200,000 share purchase warrants in Creation giving it the right to acquire 4,200,000 common shares over a one year period at a price of $0.30 per share. All out of pocket expenses and consulting fees will be reimbursed by Creation at cost plus 10%. Additional funds have been loaned for approximately $4.6 million and secured by a promissory note and repayable with interest at 8% per annum.

Creation, through its subsidiary, commenced operations of a 22,594 sq. ft. casino in Vilnius, Lithuania on October 17, 2003 with 23 table games and 106 slot machines. Creation Ventures Inc. has been approved to list on the Canadian Trading and Quotation System ('CNQ') under the trading symbol 'CSNO'.

The Company is still pursuing an expansion strategy and future capital requirements will depend on many factors, including, among others, cash flow from operations. To the extent that existing resources and the funds generated by future income are insufficient to fund the Company's capital expansion, the Company may need to raise additional funds through public or private debt or equity financing.

Great Canadian Gaming Corporation, with over 1800 employees, is a multi-jurisdictional gaming operator with seven operating casinos, four licensed restaurants and a marina operation in British Columbia, three existing restaurants and gaming facilities in Washington State, along with one gaming facility under construction in Washington State. The Company is currently expanding its operation in British Columbia and Washington State and is pursuing investment opportunities in other jurisdictions.

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