Gateway Casinos Buys Casino - Thursday 6th of April 2006

VANCOUVER, British Columbia – As reported by the Canadian Press: "Gateway Casinos Income Fund (TSX:GCI.UN) has signed a deal to buy a hotel and casino in suburban Vancouver for $106.3 million in cash and units.

"The Vancouver-based casino fund said Monday it will buy the Cascades Langley Casino and Hotel for $32.6 million in cash and 4.7 million units of the fund.

"Gateway also said it planned to increase its monthly distribution to unitholders by 0.45 cents per unit to 11.95 cents per unit per month after the deal closes.

"…The fund said the cash portion of the deal would be funded by a $35-million offering of 5.35 per cent extendible convertible debentures.

"…The casino, which opened in May 2005, includes 530 slot machines, 24 table games and an eight-table poker room as well as a 420-seat theatre. The hotel and convention centre has 77 rooms and a 25,000-square-foot convention centre…"

Other news from around the same time

Gettysburg Council Supports Casino - Thursday 6th of April 2006

PENNSYLVANIA – As reported by the Pennsylvania Evening Sun: "The Gettysburg Borough Council agree....


World Poker Exchange Plans New Pricing Method - Thursday 6th of April 2006

ST. JOHNS, Antigua – World Poker Exchangeannounced today a major pricing initiative thatthreate....


More Sites Receive eCOGRA Seal - Thursday 6th of April 2006

NEW YORK – Poker players across the world willnow find the familiar eCOGRA "Play It Safe" seal ....


July Bombings Keep Punters Out of the Casino - Thursday 6th of April 2006

LONDON, UK As reported by the Guardian: "Gamblers have stayed away from the capital's high-rolling....


Normandie Casino Goes to Vegas - Thursday 6th of April 2006

The Normandie Casino goes to Las Vegas.It all got started in September of 2005 when the Normandie....


Kiwi Bingo Launches UK Site - Wednesday 5th of April 2006

Kiwi Bingo has just launched Kiwi Bingo UK, and the UK online bingo community is already buzzing ....


Tiger-Casino.com Relaunches - Wednesday 5th of April 2006

Online casino www.Tiger-Casino.com has been re-launched with new and exciting Flash software feat....


MGM Mirage Names Chief Procurement Officer - Wednesday 5th of April 2006

LAS VEGAS – MGM Mirage today announced the appointment of Teresa Reynolds as Chief Procurement ....


Betting on a Regeneration Jackpot - Wednesday 5th of April 2006

SCOTLAND, UK As reported by the BBC: "Will a Scottish council win the super casino licence? "A num....


Hard Rock Casino Report Denied - Wednesday 5th of April 2006

NEW JERSEY – As reported by the New Jersey Courier Post: "Investment banking giant Morgan Stanley....