VANCOUVER, April 20, 2016 /CNW/ - POYDRAS GAMING FINANCE CORP. (TSX-V: PYD) ("Poydras" or the "Company") announces that it has received TSX Venture Exchange approval for the consolidation of the Company's issued and outstanding common shares ("Common Shares") on the basis of one new Common Share for every ten Common Shares presently issued and outstanding.  Poydras' Common Shares are expected to begin trading on a consolidated basis on the TSX Venture Exchange on Monday, May 2, 2016.

"Given Poydras' strong financial and operating performance, the Board and management decided that reducing the share count to a more manageable level is an important step in raising our profile in the investment community," said Peter Macy, CEO of Poydras. "It is expected that consolidation will make the shares more attractive to a broader range of investors and potentially increase liquidity." 

As announced in the Company's news release dated March 17, 2016, Poydras achieved record Revenue and adjusted EBITDA in FY 2015 with strong quarter over quarter and year over year growth, and is expecting FY 2016 adjusted EBITDA to approach US$10.0 million from its current installed base of approximately 2,400 machines, with further upside potential as the Company places additional machines.  The Company's installed base has grown 700%+ over the prior year period, post the successful integration of the Integrity Companies.    

A new CUSIP number of 73938Y208 replaces the Company's old CUSIP number of 73938Y to distinguish between the pre and post-consolidated Common Shares. Poydras' name and trading symbol will remain unchanged.  Following the completion of the Common Share consolidation, the Company will have approximately 34,548,926 Common Shares issued and outstanding.

Letters of transmittal describing the details of the share consolidation and the process by which shareholders obtain actual share certificates representing the consolidated common shares will be mailed out to Poydras' registered shareholders on April 29, 2016. Registered shareholders may also obtain copies of the letter of transmittal by contacting their brokers or other intermediary, or Poydras' transfer agent, Computershare Investor Services Inc.

CONFERENCE CALL

The Company will hold a conference call to discuss the results for its fourth quarter and year-end ended December 31, 2015. The call will be hosted by Peter Macy, CEO, and Adam Kniec, CFO on Monday, May 2, 2016 at 11:00 a.m. PDT (2:00 p.m. EDT), and followed by a question and answer period.  All interested parties are invited to participate. 

The Company will report its financial results for the fourth quarter and year-end on or before April 29, 2016.

About Poydras Gaming Finance Corp.:
Poydras Gaming is a regional slot route operator with approximately 2,400 revenue-generating gaming machines across 25 casinos in Oklahoma and Texas.  The Company provides slot machines and related capital expenditures under short- and long-term contracts for existing casinos, new casino developments and gaming machine suppliers in the United States.  Additional information about the Company can be found on the SEDAR website at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain information in this news release is considered forward-looking within the meaning of certain securities laws and is subject to important risks, uncertainties and assumptions. This forward‐looking information includes, among other things, information with respect to the Company's beliefs, plans, expectations, anticipations, estimates and intentions. The words "may", "could", "should", "would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target" and similar words and expressions are used to identify forward‐looking information. The forward-looking information in this news release describes the Company's expectations as of the date of this news release.

The results or events anticipated or predicted in such forward-looking information may differ materially from actual results or events. Material factors which could cause actual results or events to differ materially from such forward-looking information include, among others, risks arising from general economic conditions and adverse industry events.

The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed a certain progression, which may not be realized. It has also assumed that the material factors referred to in the previous paragraph will not cause such forward-looking information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

SOURCE Poydras Gaming Finance Corp.