Catalyst’s Gateway Casinos inks $500 mln sale-leaseback deal
Canadian gaming company Gateway Casinos & Entertainment Ltd has agreed to a sale-and-leaseback deal involving three casino properties in the Vancouver region. Under the agreement’s terms, an affiliate of Chicago financial services firm Mesirow Financial will become the landlord of the properties for more than $500 million. Several of Gateway’s subsidiaries have entered into leases for each of the properties and will continue to operate the casinos. With the deal’s close, expected in March, the company will see net proceeds of $483 million. Vancouver-based Gateway has been owned since 2010 by Canadian private equity firm Catalyst Capital Group.
26 February 2018•5 mins read
