If you have money to burn and are looking into opening a casino, Gateway Casinos might be for you. According to the latest gambling rumors, Gateway Casinos for Sale is what everyone is talking about. This is because they are reportedly using Macquarie Group and Morgan Stanley to search for potential buyers or investors.
Of course, if you were able to buy it, it would be more than just buying a casino. This is because Gateway Casinos and Entertainment LTD is one of the largest gaming companies in Canada. In addition, the company owns 31 gaming properties in British Columbia, Ontario and Alberta.
In terms of business structure, for its part, Gateway Casinos is a private company. However, the majority ownership of Gateway Casinos is Catalyst Capital Group who took control of the company in 2010. Furthermore, Catalyst Capital Group is a private equity firm with over $6 billion in assets under management.
Back in 2019, they made an attempt to go public with hedge fund HG Vora and Leisure Acquisition Corp. However, the attempt fell apart in 2020 after Leisure Acquisition chose to not go thru with the partnership. At the time Gateway Casinos had a valuation of $1.15 billion.
The news comes just 2 months after the passing of Tony Santo, the CEO of Gateway Casinos.
Gateway Casinos for Sale with a Possible $2 billion Price Tag
According to gambling sources, the company that owns Gateway Casinos and Entertainment LTD is looking to sell for $2 billion. In addition, they believe that the company is an attractive target for buyers looking for real estate value.
The property value alone is probably worth the $2 billion price tag. However, for investors looking to invest in gambling, this could be a great opportunity.
In Ontario alone, the company operates 14 casinos. Since the online gambling revenues have gone up by 105% in Q2 FY23-24, this could be a golden opportunity. However, they would have to expand their online casino options to turn things around. According to gaming analysts, using a Pay Per head would be the fastest solution for potential buyers.
Interestingly enough, Gateway Casinos was built on acquisition over several years. Therefore, investors looking into owning a gambling empire could do it without the headache.
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