March 8, 2010 / 9:28 PM / in 8 years

REFILE-UPDATE 1-Great Canadian Q4 beats estimates

(Corrects dateline to March 8, from March 9)

* Q4 EPS C$0.12 vs est C$0.08

* Rev nearly flat at C$96.3 mln

March 8 (Reuters) - Great Canadian Gaming Corp (GC.TO), an operator of casinos and thoroughbred racetracks, posted a better-than-expected fourth-quarter profit, helped partly by its cost cutting and capital management programs.

For the quarter ended Dec. 31, the company posted a net profit of C$9.8 million ($9.54 million), or 12 Canadian cents per share, compared with a net loss of C$1.7 million, or 2 Canadian cents per share, a year ago.

Revenue was almost flat at C$96.3 million.

Analysts on average were expecting the company to earn 8 Canadian cents per share on revenue of C$96.3 million, according to Thomson Reuters I/B/E/S.

Earnings before interest, taxes, depreciation and amortization (EBITDA) as a percentage of revenue was 34.3 percent in the fourth quarter, compared with 24.4 percent, a year ago.

Shares of the Richmond, British Columbia-based company closed at C$7.78 Monday on the Toronto Stock Exchange. ($1=1.027 Canadian Dollar) (Reporting by Abhiram Nandakumar in Bangalore; Editing by Jarshad Kakkrakandy)

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