Gateway Casinos Plans to Go Public Scrapped
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Gateway Casinos and Entertainment might not go public as Leisure acquisition corporation called off the deal to purchase the Canadian casino operator. The company wanted to merge the casino with its US-based company Catalyst Capital Group in 2019.
Gateway Casinos plans to go public have been scrapped. The deal was supposed to be concluded back in April 2020 but was extended until the last days of June. The special purpose acquisition company called off the purchase agreement with the casino leader. It is interested in an initial public offering process.
Leisure Acquisition Corporation wants to cancel the deal with Gateway Casinos. The casino operator had to shut down all 25 of its gaming halls and casino venues back in March. It is slowly reopening the venues. Gateway Casino wants the merger to be scrapped. They claim that the shareholder vote in the previous month had a negative impact on their ability to complete the transaction.
