Canadian casino operator Gateway Casinos and Entertainment Limited has revealed the closing of a deal that will see it earn approximately $376.1 million by selling off a trio of its venues in British Columbia.
The agreement with an entity of American financial services firm Mesirow Financial involves:
1. Starlight Casino New Westminster
2. Grand Villa Casino
3. Cascades Casino Resort Langley
The three subsidiaries will keep operating in the Vancouver-area properties but with Chicago-headquartered Mesirow Financial. READ SO: CANADIAN LAW ABOUT TO CHANGE AFTER 20 YEARS
Consequently, it declared that it does not expect there to be any ‘changes to employees or operations at these locations’ with the firm continuing to hold ‘a significant real estate portfolio’.
This represents the largest financial transaction in its recent history.
