Peter Meredith, Chairman of the Board of the Great Canadian Gaming Corporation (GCGC), has issued a statement following the rapid escalation of the COVID-19 pandemic across North America.
Commenting on the global uncertainty that has been caused as a result of the outbreak, Meredith issued assurances to shareholders and stakeholders regarding the dedication of the board in ensuring long-term stability of the GCGC, citing the implementation of ‘prudent decisions’, ‘transparent communication’ and ‘resilient measures’.
He stated: “The effects of this emergency may be felt for some time, and thus, good corporate governance is crucial in these extraordinary circumstances. Under the strong leadership of Rod Baker, the Company’s CEO, our caring, diligent and experienced management team is working with our Board to actively monitor the implications that COVID-19 has had- and may have- on the future of our business.
“We would also like to acknowledge the incredible efforts that have been undertaken, and continue, across the Company by our operating teams who have been working tirelessly throughout this period to ensure the health and safety of our team members and guests.
“This unprecedented situation has no playbook, but our team is well prepared and well-equipped, and making thoughtful decisions on a day-by-day or even hour-by-hour basis. We are making vital strategic and operating decisions to ensure that the Company is in the best possible position to withstand the ongoing volatility.”
The GCGC Chairman of the Board also discussed the efforts taken in an attempt to contain the spread of the Coronavirus and protect the health of both its team members and guests. This includes its work with the respective lottery corporations across the country that resulted in the suspension of operations at all of its 25 Canadian facilities.
With this being said, Meredith acknowledged how these closures had impacted a ‘significant number’ of team members based in Ontario, British Columbia, New Brunswick and Nova Scotia, and although unable to provide promises regarding a return to normal operations, he stated that the company are ‘hopeful’ that the suspension of operations is for a short duration.
Meredith also recognized the collective efforts being adopted nationally to contain the spread of COVID-19 and revealed that the company will be adhering to the advice given by its Board of Directors and the Canadian Securities Administrators, meaning it will be holding its annual general meeting entirely virtually.
He concluded: “The Company remains committed to providing a safe environment for all its constituents and is thankful for the opportunity to utilize modern technology that will allow our shareholders to be safe while having the opportunity to participate and engage in our upcoming AGM.
“More than ever, we are grateful for the continued support of our dedicated shareholders. As we are sure all investors can appreciate, this is a rapidly evolving situation, and we will endeavour to continue to keep you informed of material developments as they occur.”