/EINPresswire.com/ -- RED DEER, ALBERTA -- (Marketwired) -- 11/13/15 -- Management and Directors of Gamehost Inc. (the "Company") (TSX: GH) are pleased to present results for the three months ended September 30, 2015 (the "Quarter") and nine months ended September 30, 2015 (the "Period").

More Than Oil & Gas

Total operating revenues for the Quarter were down 6.9% to $18.8 million compared to the same quarter of 2014. Earnings before interest, taxes, depreciation and amortization ("EBITDA") that is attributable to shareholders of the Company ("EBITDA to Shareholders") was down 11.1% to $8.0 million compared to the same quarter one year earlier. EBITDA to Shareholders margin declined 190 basis points to 44.7% in year over year comparison. Following a record year in 2014, the Company's reported results for 2015 will be lower and reflective of the downturn in Alberta's economy as a result of weak oil and gas prices. Alberta, however, is certainly about more than just oil, which we think is reflected in the relative stability of the Company's financial results in a tough commodity price environment.

Barometer Reading

After experiencing our first decline in revenue and profitability since 2010 during the first quarter of 2015, results for quarter two and now the current Quarter look to indicate that we are finding some level of stabilization. Nevertheless, we are taking a conservative and cautious approach to our budgets and forecasts. Management is working diligently to find operational savings, with some success, in an otherwise lean cost operation.

Dividend Digest

The Company's relatively steady cash flows have supported an attractive dividend payout to shareholders. The current monthly dividend of $0.0733 per share is unchanged since it was last increased in 2008 and notably was unaffected by the fallout from the 2008 financial crisis. Management and the Company's board of directors understand that a stable dividend has become one of the hallmarks of the Company's identity. Although the Company is currently paying out 100% of normalized cash available for dividend distribution, the dividend is well supported by the Company's strong cash flows and solid balance sheet. Current debt levels stand at less than one times EBITDA and we have access to ample liquidity. The Company's board of directors regularly monitor the appropriateness of the Company's dividend policy. Budgets and forward cash projections prepared by management are scrutinized in context of the Board's own assessments of Alberta and macro economies. At present, the Company is well positioned to withstand possible further deterioration in market conditions. The Company's board of directors, nevertheless, are prepared to alter the dividend policy if warranted.

Ready and Able

Management is anticipating and planning for a slower economic environment for the balance of 2015 and 2016. To be certain, we have been to this party before. Every cycle helps us to become more efficient, like our oil patch friends, and come out the backend even stronger. We have aggressively reduced debt over the last many years and now enjoy an enviable balance sheet. This, together with our low operating cost structure, positions us well to weather the current storm and take advantage of new business opportunities. Much has been written of the demise of the Alberta economy, we firmly disagree. A wave of new infrastructure projects rolling out over the next few years will help support economic activity in the province while we wait for the commodity markets to rebalance.

Condensed Interim Consolidated Statements of Comprehensive Income

In Canadian dollars (millions
 except per share figures)                (unaudited)           (unaudited)
                                --------------------------------------------
                                    nine months ended    three months ended
                                         September 30          September 30
                                --------------------------------------------
                                      2015       2014       2015       2014
                                --------------------------------------------

Operating revenue                $    57.9  $    61.8  $    18.8  $    20.2
Cost of sales
  Other                              (30.6)     (31.1)      (9.7)     (10.1)
  Depreciation                        (1.6)      (1.6)      (0.6)      (0.5)
                                --------------------------------------------

                                     (32.2)     (32.7)     (10.3)     (10.6)
                                --------------------------------------------
Gross profit                          25.7       29.1        8.5        9.6

Other income                           0.1        0.2          -        0.1

Administrative expenses
  Other                               (2.4)      (2.6)      (0.7)      (0.9)
  Depreciation                        (1.2)      (1.3)      (0.4)      (0.4)
                                --------------------------------------------
                                      (3.6)      (3.9)      (1.1)      (1.3)
                                --------------------------------------------
Profit from operating activities      22.2       25.4        7.4        8.4

Net finance costs                     (1.0)      (2.1)      (0.1)      (0.8)
                                --------------------------------------------

Profit before income taxes            21.2       23.3        7.3        7.6

Income tax expense                    (5.3)      (7.0)      (1.0)      (3.4)
                                --------------------------------------------
Profit                                15.9       16.3        6.3        4.2
                                --------------------------------------------


Profit attributable to:
  Shareholders of the Company         14.9       15.2        5.9        3.8
  Non-controlling interest             1.0        1.1        0.4        0.4
                                --------------------------------------------
                                      15.9       16.3        6.3        4.2
                                --------------------------------------------


Earnings per share
  Basic                          $    0.62  $    0.64  $    0.24  $    0.16
  Fully diluted                  $    0.62  $    0.64  $    0.24  $    0.16

Weighted average number of
 common shares outstanding
  Basic                               24.0       23.6       24.5       23.8
  Fully diluted                       24.0       24.8       24.5       25.0

EBITDA to Shareholders           $    24.0  $    27.2  $     8.0  $     9.0
EBITDA to Shareholders %              43.5%      46.2%      44.7%      46.6%

Gamehost has also declared a cash dividend for the month of November 2015 of $0.0733 per common share. The dividend will be paid on December 15, 2015 to shareholders of record on November 30, 2015. The ex-dividend date is November 26, 2015.

This dividend is considered an "Eligible Dividend" and therefore, eligible for the enhanced gross-up and dividend tax credit available to shareholders.

This press release may contain certain "forward-looking information" or statements within the meaning of applicable securities legislation and may contain words such as "anticipates", "believes", "could", "expects", "indicates", "plans", "withstand", "further" or other similar expressions that suggest future outcomes or events. Forward-looking information is based on the Company's current expectations, estimates, projections and assumptions that were made by the Company in light of its historical trends and other factors. All information or statements, other than statements of historical fact, are forward-looking information including any statements that address expectations related to future economic outcomes or the Company's dividend. Forward-looking statements reflect reasonable assumptions made on the basis of management's current beliefs with information known by management at the time of writing. Many factors could cause actual results to differ from the results discussed in forward-looking statements. Actual results may not be consistent with these forward-looking statements.

Gamehost is a corporation established under the laws of the Province of Alberta. The Company's operations are all located in the Province of Alberta, Canada. Operations of the Company include the Boomtown Casino in Ft. McMurray, the Great Northern Casino, Service Plus Inns & Suites hotel and a strip mall all located in Grande Prairie. The Company also holds a 91% ownership position in Deerfoot Inn & Casino Inc. in Calgary.

These interim consolidated financial results include the accounts of Gamehost Inc. and its subsidiaries; however, they do not include all disclosures normally provided in annual consolidated financial statements and should be read in conjunction with the 2014 annual consolidated financial statements. Further, while the financial figures included in this interim results announcement have been computed in accordance with IFRS applicable to annual periods, this announcement does not contain sufficient information to constitute an interim financial report. The company will file an interim financial report for the interim period ended September 30, 2015. This report will be filed in its entirety, along with historical financial reports on the Company's website at www.gamehost.ca and on SEDAR at www.sedar.com along with the Company's other continuous disclosure documents, when they are available.

Gamehost common shares trade on the Toronto Stock Exchange (TSX) under the symbol GH.

Contacts:
Gamehost Inc.
Craig M. Thomas
(877) 703-4545
(403) 340-0683 (FAX)

Gamehost Inc.
Darcy J. Will
(877) 703-4545
(403) 340-0683 (FAX)
info@gamehost.ca
www.gamehost.ca

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