Gateway casino IPO in jeopardy as U.S. partner faces problems [Toronto Globe and Mail (Ontario, Canada)]
Leisure Acquisition Corp. (LACQ)
US:NASDAQ Investor Relations:
prnewswire.com/news-releases/leisure-acquisition-corp-announces-pricing-of-200000000-initial-public-offering-300565228.html
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Source: Toronto Globe and Mail
Gateway casino IPO in jeopardy as U.S. partner faces problems Workers remove a holiday display from the roof of the Western Fair District Gateway Casino in London, On. on Jan. 7, 2020. GEOFF ROBINS/The Globe and Mail Workers remove a holiday display from the roof of the Western Fair District Gateway Casino in London, On. on Jan. 7, 2020. Private equity-owned Gateway Casinos and Entertainment Ltd. has been trying to go public, pay back lenders and cash out its backers for eight years. That quest seems destined to continue, as a $1.5-billion deal Gateway struck in December with U.S. buyer Leisure Acquisition Corp. is now in jeopardy because of COVID-19. If the troubled transaction falls apart, it would be the latest in a series of failed investment exits by financier Newton Glassman’s Catalyst Capital Group Inc. Leisure Acquisition is what’s known as a special purpose acquisition company, or SPAC. It was launched in 2017 by U.S. gaming industry veterans who raised US$207-million and
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