One of the Canadian industry leaders when it comes to gambling companies in the country, Gateway Casinos & Entertainment Ltd., is thinking about the plans for the future.?
Various options for the future:
Among the options considered, according to the specialists in the field, the company is thinking about the sale, as well as other strategic options.?
Morgan Stanley and Macquarie Group Ltd. are in charge of looking for companies that might be interested in investing in Gateway or even acquiring it, according to the anonymous source.
The company revealed its estimated value, which is about US$2 billion. This sought valuation includes $1.1 billion of debt the company currently has.
Gateway is currently present in many cities in Canada. It owns 31 gaming properties in Canadian provinces, including British Columbia, Ontario, and Alberta. Also, there’s an impressive Grand Villa Casino in a suburb of Burnaby in Vancouver.
In 2022, the company celebrated its 30th anniversary, and during that time, there were many turning points, including its internal expansion and acquisition.
At the moment, the owner of the majority of the Canadian company is Catalyst Capital Group Inc. This is a private equity company that has been a major owner of Gateway since 2010.?
This isn’t the first time Gateway is thinking about such steps. The company recently announced the initial public offering and a merger that was supposed to result in the company’s acquisition, but none of the attempts were successful.
Indigenous Liaison and company’s expansion:
If successful, this step could change the future of the company’s 7.200 employees, but it remains to be seen.?
The company owns about 391 table games with 31 poker tables in their properties, as well as 14.288 slot machines, 81 food and beverage options, and 564 hotel rooms.?
One of the things Gateway is most proud of is Indigenous Liaison, which is established in Ontario. This is a First Nations executive who works with the company’s vast network of partners to create better opportunities for Indigenous Peoples in all the company’s properties, including job offers created for them. This allows Indigenous People to be included in the operations as suppliers, vendors, developers, and in many other ways.
The Catalyst Capital Group Inc., which owns the majority of the company, is well known for its smart investment. The company has more than ten years of experience in investing, restructuring, and credit markets in all key markets in the world, including Canada, the United States, Europe, and Latin America.