British Columbia--Michael C. Scholz, President of Great Canadian Gaming (the "Company") is pleased to announce that the Company, through its 90% subsidiary has acquired all of the business assets, real estate, undertaking, intellectual property and good will of Big Al's Casino in Everett, Washington.

The consideration for this acquisition is USD$5.925-million and 75,000 share purchase warrants at an exercise price of $8.75 for two years. Big Al's unaudited gross income for 2002 was USD $7.05-million with an adjusted net income before tax of approximately USD $830,000.00.

Big Al's Casino is an established gaming facility which opened in November 1998 in Everett Washington. The facility features 15 table games, a nightclub with live entertainment, a 50-seat restaurant and banquet facilities for 100 people.

Great Canadian Gaming Corporation is a multi-jurisdictional gaming operator with six operating casinos having over 900 slots and two licensed restaurants in British Columbia and two restaurant and gaming facilities in Washington State. The Company is currently expanding its operation in Washington State and is looking at investment opportunities in other jurisdictions.

In addition, the Company has changed the member firm designated to make purchases on behalf of the Company pursuant to its normal course issuer bid, from Valeurs Mobilieres Desjardins, Desjardins Securities Inc., Montreal, Quebec, to CIBC Wood Gundy, Suite #114 - 100 Park Royal, West Vancouver, British Columbia V7T 1A2.

The TSX Venture Exchange approved the Company's Notice of Intention to make a Normal Course Issuer Bid dated October 10, 2002, to repurchase for cancellation, up to 1,000,000 shares in its own capital stock. The purchases are to be made through the facilities of TSX Venture Exchange during the period October 16, 2002 to October 15, 2003. To the date of this press release, the Company has repurchased and cancelled a total of 63,300 common shares in its capital stock.