March 17, 2011 / 8:59 PM / in 7 years

UPDATE 1-Great Canadian Gaming posts Q4 loss

* Q4 loss/shr C$0.51 vs EPS C$0.12 year ago

* Q4 rev up 1 pct at C$97.2 mln (Follows alerts)

March 17 (Reuters) - Great Canadian Gaming Corp , an operator of casinos and thoroughbred racetracks, posted a quarterly loss on weakness at its British Columbia racinos.

For the fourth quarter, the company posted a net loss of C$41.9 million, or 51 Canadian cents a share, compared with net earnings of C$9.8 million, or 12 Canadian cents a share, a year ago.

Excluding items, the company earned 11 Canadian cents a share.

Great Canadian Gaming, which owns casinos in British Columbia, Ontario, Nova Scotia and Washington state, said revenue rose 1 percent to C$97.2 million.

Analysts on average expected earnings of 11 Canadian cents a share, on revenue of C$97.37 million, according to Thomson Reuters I/B/E/S.

Revenue at its British Columbia racinos fell by C$1.5 million and Boulevard Casino declined by C$1.2 million.

The Richmond, British Columbia-based company’s shares closed at C$7.93 on Thursday on the Toronto Stock Exchange. (Reporting by Arnika Thakur; Editing by Maju Samuel)

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