Gateway Casinos & Entertainment Ltd has acquired Chances Signal Point, a Williams Lake, British Columbia-based gaming company.
No financial terms were disclosed.
Gateway, a Vancouver-based diversified gaming and entertainment business, said the acquisition increases the number of properties it operates in British Columbia, Alberta and Ontario to 27.
Gateway, owned since 2010 by Canadian private equity firm Catalyst Capital Group, filed in November for an initial public offering on the New York Stock Exchange.
Gateway Casinos & Entertainment Limited Acquires Chances Signal Point
Exciting Acquisition Marks Gateway’s Entry into a New BC Market
BURNABY, BC, March 1, 2019 /CNW/ – Gateway Casinos & Entertainment Limited (Gateway) announced today that it has acquired Chances Signal Point in Williams Lake (Chances Signal Point). Gateway will take over the day-to-day operations of the Chances Signal Point facility effective today. The acquisition is the latest step in Gateway’s continued growth. Gateway is one of the largest and most diversified gaming and entertainment companies in the Canada.
This strategic acquisition marks the next milestone in Gateway’s growth strategy which has seen the company expand their footprint and product offering across Canada. Guided by a strategy to create gaming properties that offer community-centred entertainment with a variety of gaming and culinary options, Gateway is excited about the potential of this opportunity in the Cariboo region of the Central Interior of British Columbia.
With the addition of Chances Signal Point, Gateway now operates 27 properties in British Columbia, Alberta (Edmonton) and Ontario with approximately 8,648 employees.
“Everyone at Gateway is very excited to welcome Chances Signal Point and their team to the Gateway family. We look forward to bringing our unique entertainment offerings to Williams Lake,” said Tony Santo, CEO of Gateway.
Based in Burnaby, BC, Gateway has made significant investments in the communities where they operate to improve the customer experience, which has brought hundreds of jobs and economic contribution to local economies.
Gateway’s growth investments are underway in many communities across British Columbia, Alberta and Ontario. Since August 2015, Gateway has completed seven major development projects in Kamloops, Penticton, Kelowna, Edmonton, Point Edward and Innisfil. This year, Gateway anticipates opening two new major developments in Chatham-Kent and Hanover, Ontario, and breaking ground on the new Cascades Casino in Delta, BC.
About Gateway Casinos & Entertainment Limited
Gateway Casinos & Entertainment Limited (“Gateway”) is one of the largest and most diversified gaming and entertainment companies in Canada. Across its 27 gaming properties in British Columbia, Ontario and Edmonton, Alberta, Gateway currently employs approximately 8,648 people and boasts approximately 448 table games (including 49 poker tables), 13,887 slots, 85 restaurants and bars and 561 hotel rooms. Gateway is the service provider for the Central, Southwest and North gaming Bundles in Ontario, which includes 11 properties in their portfolio. A multi-pronged growth strategy has seen Gateway diversify and expand its product offering, including developing proprietary casino and restaurant brands, dramatically improving the gaming customer experience while attracting new customers. Some of Gateway’s proprietary brands include Match Eatery & Public House, Atlas Steak + Fish and the new Halley’s Club. In 2017, Gateway celebrated 25 years in the business of gaming and entertainment in Canada. Further information is available at www.gatewaycasinos.com.
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