Deals
Blank Check Firm Scraps $1.1 Billion Merger With Gateway Casinos
- Leisure terminates pact after Covid-19 pandemic shuts casinos
- Gateway had pursued merger after pulling back on IPO plans
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Gateway Casinos & Entertainment Ltd., one of Canada’s largest casino operators, failed in its bid to merge with Leisure Acquisition Corp. when the U.S. firm decided to scrap the deal.
New York-based Leisure announced plans in December to merge into a subsidiary of Gateway’s parent in what the two companies described as a $1.1 billion transaction, including debt. Gateway has properties in British Columbia, Alberta and Ontario.