TORONTO – Gateway Casinos and Entertainment Ltd. is set to undergo a number of organizational changes in 2020. Starting with their CEO position, Gateway Casinos’ current CEO, Tony Santo, will be replaced by Marc Falcone sometime in 2020.
Currently, Falcone is a Director at Leisure Acquisition Corp., a company that will be acquired by Gateway’s parent company, GTWY Holdings Ltd. In the aftermath of the acquisition, Gateway Casinos and Entertainment Ltd. plan on going public and listing its shares on the New York Stock Exchange.
Subject to the approval of current shareholders of GTWY shareholders, regulators, and government agencies, existing GTWY shareholders are expected to retain their status as the largest investors in the newly-formed company.
With this proposed financial restructuring between Gateway Casinos and Leisure Acquisition Corp., it will create a publicly traded company with an estimated valuation at $1.5 billion.
Currently, Gateway Casinos operates 27 gaming and entertainment venues across Canada. Their head office location is located at the Grand Villa Casino in Burnaby, BC.