Gateway Casino Disclosure Plan Abolished
Gateway Casino and Entertainment may have to wait a little longer for the Leisure Acquisition Company to go public after it recently announced its latest position on the subject. The company did nothing for months before trying to acquire the Canadian casino operator and then cancelled the deal. A deal extension was signed earlier this month.
Gateway Casino & Entertainment is working to list on the New York Stock Exchange because this goal has been discussed over the past few years. Canada’s leading casino operator wanted to make it happen with Catalyst Capital Group. The company wanted to merge the casino operator with a U.S.-based company for plans announced in 2019.
The listed special purpose acquisition company is working to expand its presence, but the unprecedented situation has hurt all parties involved in the listing plan. This week, the special purpose acquisition company canceled its purchase agreement with Casino Leader. Catalyst Capital Group’s original goal was to acquire a private Gateway casino.
Unipo, Gateway Casino Looking In The Same Direction
Interested in the IPO process and would have been possible through it. The Leisure Acquisition Company will use this process to raise funds for later cleanup and purchase. As it has been revealed recently, no deal will be made for the time being. The special purpose acquisition company did not give a reason for its decision to cancel the previously concluded transaction.
Gateway Casino Greenlight Premium Restaurant in Ontario, B.C.
It amounted to about C$1.5 billion and was due to reach a conclusion in April 2020. The unprecedented situation eventually made it impossible to demand an extension until the end of June. Delays and postponements did not end there because there was another change in the initial schedule for action on the first day of the month. 바카라
an abandoned plan
The Leisure Acquisition Corp. held a vote on the subject, and the prevailing opinion was that the deadline should be extended to early December. There was speculation at the time that neither side took action was uncertain and meant that the financial situation was not the best thing for the deal. Both had the right to close the deal on July 15 because no action had taken place prior to that.
Gateway Casino Strengthens Its Relationship With Passport Technology
Gateway Casino recently shared its opinion on the situation, pointing out that the previous vote was an obstacle to the deal. Last March, the Leisure Acquisition Corporation held a shareholder vote. The casino operator argues that this has negatively affected the ability to close mutually friendly deals.
Gateway casino marriage with catalytic capital faces tough times
For the time being, the special purpose acquisition company has not responded to this claim. The casino operator had to close all 25 game centers and casino sites in March. They were all affected by lockdowns in places like British Columbia and Ontario. A gradual reopening of the venue is in progress.