Gamehost Inc. Reports Significant Growth in Fourth Quarter Financial Results and Increases Dividend

Gamehost Inc. (TSX:GH) disclosed its financial achievements for the fourth quarter and the entire year ending December 31, 2023. The company witnessed a 13.4% increase in operating revenue for the quarter, reaching $21,296.0 thousand from $18,776.6 thousand in 2022. EBITDA for shareholders increased by 36.1% to $8,698.9 thousand. Earnings per share also saw growth, rising to $0.25 from $0.19 in the previous year. The company reported gains across all revenue streams during the quarter.

Gamehost's operations across Calgary, Grande Prairie, and Fort McMurray benefited from Alberta's significant population growth and strong economy, with all three regions reporting year-over-year improvements in revenue, cash flow, and margins. The AGLC authorized a temporary increase in the electronic gaming device Hold from 15% to 17% starting April 1, 2023, expected to encourage further investments and potentially become permanent after evaluation.

In November 2023, Gamehost increased its monthly dividend by 33.3%, from $0.03 to $0.04 per share. The company also repurchased 331,149 shares for $2,958.5 thousand and reduced its debt, benefiting from a low debt to EBITDA ratio of 1.3. Management expresses cautious optimism for continued strong performance in 2024, supported by the completion of major energy infrastructure projects.