Gateway Casinos completes $1.25bn debt refinancing deal
Gateway Casinos and Entertainment Limited has finalised the refinancing of its corporate debt in a $1.25bn transaction.
The operator of 23 Canadian casinos obtained a Senior Secured Term Loan B issuance from lead investors Fortress Investment Group.
The proceeds from the transaction were used to refinance all of Gateway’s existing corporate debt at both Gateway Casinos & Entertainment Limited and GTWY Holdings Limited.
This included the Large Employer Emergency Financing Facility loan the company agreed to in September 2020.
Gateway executive chairman Gabriel de Alba said: “We are very pleased to have completed this significant refinancing with Fortress as the lead investor.
“We are grateful for the ongoing support of all our stakeholders and regulatory partners and proud to have now strengthened our capital position which will support our future growth initiatives, including online gaming opportunities.”