Gateway Casinos & Entertainment Ltd has acquired Chances Casino Kamloops, a Kamloops, British Columbia-based gaming company.
No financial terms were disclosed.
Gateway, a Vancouver-based gaming and entertainment business, said the acquisition increases the number of properties it operates in British Columbia, Alberta and Ontario to 26.
In November, Gateway, which has been owned since 2010 by Canadian private equity firm Catalyst Capital Group, filed for an initial public offering on the New York Stock Exchange.
Gateway Casinos & Entertainment Limited Acquires Chances Casino Kamloops
Exciting Acquisition Marks the Latest Step in Gateway’s Growth Strategy
BURNABY, BC, Jan. 14, 2019 /CNW/ – Gateway Casinos & Entertainment Limited (Gateway) announced today that it has acquired Chances Casino Kamloops (Chances Kamloops). Gateway will take over the day-to-day operations of the Chances Kamloops facility effective today. The acquisition makes Gateway the sole gaming provider in Kamloops, as the operator of both Cascades Casino Kamloops and Chances Kamloops.
This strategic acquisition marks the latest step in Gateway’s growth strategy which has seen the company expand their footprint and product offering across Canada with their proprietary casino and restaurant brands. With the addition of Chances Kamloops, Gateway now operates 26 properties in British Columbia, Alberta and Ontario with approximately 8,600 employees.
“This is an exciting day for everyone at Gateway as we welcome Chances Kamloops and their employees to the Gateway family. I’d like to thank the Hart Family for their commitment to the Kamloops communities and we look forward to working with them on a smooth transition,” 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.
In August 2015, Gateway opened the new Cascades Casino Kamloops – an entertainment destination in Kamloops. The investment features slots and table games, live entertainment, Match Eatery & Public House, Atlas Steak + Fish and The Buffet.
With operations throughout the Thompson-Okanagan, Gateway has also completed a renovation and rebrand in Kelowna to Playtime Casino Kelowna in March 2018. It opened Cascades Casino Penticton in 2017 and established Match Eatery & Public House at Lake City Casino in Vernon in 2014.
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 26 gaming properties in British Columbia, Ontario and Edmonton, Alberta, Gateway currently employs approximately 8,600 people and boasts approximately 429 table games (including 48 poker tables), 13,818 slots, 82 restaurants and bars and 561 hotel rooms. As the new service provider for the Central Gaming Bundle in Ontario, Gateway recently added two new properties and one new planned build in Wasaga Beach to its 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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