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gateway casino new westminster bc Gateway has also announced that, shortly following completion of the Transaction, Marc J.
Falcone, currently a Director of Leisure, will become President and Chief Executive Officer of Gateway.
Falcone's appointment becoming effective, Tony Santo, Gateway's current CEO, will retire from the company.
Santo will continue as an advisor to the Board of Directors and Mr.
Falcone for three months following his retirement in order to assist with an orderly transition.
With 25 properties across British Columbia and Ontario — up from 10 in 2015 — Gateway has significantly expanded its footprint, while diversifying and expanding its product offering to include well-known proprietary casino and restaurant brands.
Over the last six years, Gateway's multi-pronged strategic initiatives have driven i improved guest experiences, ii strong revenue growth, iii consistent Adjusted EBITDA i growth, and iv industry-leading free cash flow conversion.
The Company's projected organic revenue and Adjusted EBITDA growth pipeline reflects a number of more info and renovation initiatives across its portfolio along with three new development opportunities and four property relocations expected to open over the next three years.
The execution of these growth initiatives will be implemented with a sustained focus on Gateway's operational excellence.
Gateway management provided Leisure with forward-looking projections as part of its due diligence.
Falcone to lead Gateway as Chief Executive Officer.
Lorne Weil, Daniel B.
Silvers and Marc J.
Falcone, Leisure's Executive Chairman, Chief Executive Officer and Director, respectively, are expected to join Gateway's Board of Directors.
Lyle Hall, Olga Ilich and Dr.
Michael Percy also are expected to join upon closing of the Transaction.
Additional independent directors are expected to be appointed at or following the completion of the Transaction such that Gateway Board of Directors may be comprised of up to 9 members.
Management Commentary: Gabriel de Alba, Managing Director and Https://sellingonthenet.info/casino/palace-casino-mn-transportation.html of Catalyst and Executive Chairman of Gateway, stated, "With its strong corporate and property operating teams, diversified growth initiatives, and industry-leading operating model, Gateway has built tremendous momentum and established a solid foundation for ongoing growth.
The disciplined execution of our near- and long-term strategies has created significant value and returns over the years for all of the Company's shareholders.
We are thankful to Tony for his leadership of Gateway and his key role going forward.
We welcome Marc to Gateway see more look forward to his leadership as our incoming CEO.
Lorne, Dan and Marc's respective industry experience and extensive relationships, combined with access to public capital markets, will favorably position the Company to accelerate its strategies to deliver strong, profitable growth and increased free cash flow.
Just as importantly, this transaction will provide Gateway with the foundation for a very promising future as a leading, diversified gaming and entertainment platform throughout North America.
The entire Gateway team looks forward to working with the team at Leisure to create value for shareholders over the long-term," Mr.
Leisure's Executive Chairman A.
Lorne Weil and Chief Executive Officer Daniel B.
Silvers commented, "Early in our lifecycle, we identified Gateway as an attractive opportunity to leverage our team's deep experience and skills in the leisure and gaming sector.
We are excited to partner with the Gateway team, led by Marc, to accelerate Gateway's growth through the many high-return initiatives already in place as well as by pursuing potential future accretive transactions across North America.
Gateway is recognized across the industry for its operational expertise and focus on providing great gaming, entertainment and food and beverage experiences, world-class guest service and financial discipline.
We look forward to being partners with Gabriel, Marc and the entire Gateway team as we enter what we expect will be the Company's next phase of growth.
Falcone, Director of Leisure and incoming CEO of Gateway.
Falcone concluded, "I am grateful for the confidence placed in me by Gabriel, HG Vora and the leadership of Leisure.
I believe the Canadian gaming market offers unparalleled growth opportunities and Gateway has always been a platform that I found to be highly-compelling.
I look forward to creating significant shareholder value alongside the rest of the Gateway management team.
Gateway operates over 40% of all slot machines and table games in British Columbia and is the exclusive service provider in the North, Southwest and Central Ontario Bundles as defined in the contracts with the Ontario Lottery and Gaming Corporation.
As part of its expansion plan, over the next three years Gateway expects to open three new casinos in Ontario, relocate two casinos in Ontario and relocate two casinos in British Columbia, all in attractive and underpenetrated new markets.
Key Transaction Terms: At the closing of the Transaction, Leisure will merge with a new wholly-owned subsidiary of GTWY.
In connection with the merger, outstanding shares of Leisure will be converted in the business combination into click at this page right to receive shares of GTWY at a fixed exchange rate of one-to-one.
GTWY will be the publicly gateway casino new westminster bc company with its shares expected to be listed on the NYSE under the ticker "GTWY.
Existing GTWY shareholders are expected to see more, altogether, the largest shareholders of the combined company.
In addition to the upfront consideration, the existing shareholders of GTWY will have the ability to receive an earn-out payment of up to 4.
The Company will also issue 1.
Timing and Approvals: The Transaction has been unanimously approved by the Boards of Directors of both Leisure and GTWY, and is expected to close in the second quarter of 2020, subject to approval by Leisure's shareholders, required regulatory approvals, contractual approvals and registrations from Crown agencies, including, but not limited to approvals from Ontario Lottery and Gaming Corporation, and other customary closing conditions.
The appointment of Marc J.
Falcone as CEO of Gateway is subject to applicable gaming registration requirements.
Proskauer Rose LLP and Miller Thomson LLP acted as legal counsel to Leisure.
Investor Conference Call Information: Gateway and Leisure will jointly host an investor conference call to discuss the business combination on January 7, 2020 following the market close.
Details of the conference call and simultaneous webcast will be provided on January 6, 2020.
An investor presentation will be made available at www.
Falcone has gateway casino new westminster bc as a member of the Leisure Acquisition Corp.
Board of Directors since December 1, 2017.
Falcone has served as the President and Chief Financial Officer of Sightline Payments LLC, a leading digital commerce platform for the gaming industry, since February 2019.
Falcone is also the principal of MF Ventures LLC, a diversified investment platform with investments in companies involved in the hospitality, gaming and leisure industries, including Kentucky Downs located in Franklin, Kentucky, which operates 750 historical horse racing machines.
Falcone served as Executive Vice President, Chief Financial Officer and Treasurer of Red Rock Are stolen casino bike good, Inc.
Falcone served as Treasurer of Station Casinos LLC since January 2013 until May 2017.
Falcone also served as Chief Financial Officer of Fertitta Entertainment LLC from October 2010 through May 2016.
From June 2008 to October 2010, Mr.
From May 2006 to June 2008, Mr.
Falcone was a senior analyst at Magnetar Capital, LLC an alternative asset management firmcovering the gaming, lodging, leisure, REIT and airline industries.
From May 2002 to June 2006, Mr.
Falcone was a Managing Director for Deutsche Bank Securities Inc.
Prior to joining Deutsche Gateway casino new westminster bc Securities Inc.
Falcone holds a bachelor's degree in Real Estate Finance and Hotel Administration from Cornell University.
Across its entire portfolio, Gateway currently employs over 8,200 people and features approximately 440 table games including 48 poker tables13,915 slots, 93 food and beverage outlets and 561 hotel rooms.
A multi-pronged growth strategy has seen GCEL diversify and expand its product offering, including developing proprietary casino and live casino youtube brands, dramatically improving the gaming customer experience while attracting new customers.
In 2017, GCEL celebrated 25 years in the business of gaming and entertainment in Canada.
Additional information is available at.
About Leisure Acquisition Corp.
Additional information can be found at.
Important Information About the Proposed Transaction and Where to Find It: GTWY intends to file a registration statement on Form F-4 with the U.
Leisure also will file other documents regarding the proposed transaction with the SEC.
The documents filed by Leisure with the SEC also may be obtained, when available, free of charge at Leisure's website at or upon written request to Leisure Acquisition Three rivers casino yelp />Participants in the Solicitation: Leisure, GTWY and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from Leisure's shareholders in connection with the proposed transaction.
Information about Leisure's directors and executive officers and their ownership of Leisure's securities is set forth in Leisure's definitive proxy statement on Schedule 14A filed with the SEC on October 28, 2019.
You may obtain free copies of these documents as described in the preceding paragraph.
Forward-Looking Statements: This press release includes certain forward-looking statements, including statements regarding future financial performance, future growth and future acquisitions.
These statements are based on Leisure's and Gateway's managements' current expectations or beliefs and are subject to uncertainty and changes in circumstances.
These risks, uncertainties gateway casino new westminster bc contingencies include, among others: business conditions; changing interpretations of IFRS; inquiries and investigations and related litigation; continued compliance with government regulations; legislation or regulatory environments; requirements or changes adversely affecting the business in which Gateway is engaged; fluctuations in customer demand; management of growth; intensity of competition from other gaming operators; general economic conditions; geopolitical events and regulatory changes; fluctuations in currency exchange rates; the possibility that the transaction does not close, including due to the failure to receive gateway casino new westminster bc security holder approvals or regulatory approvals or the failure of other closing conditions; and other factors set forth in Leisure's past or future filings with the Securities and Exchange Commission " SEC"including the proxy statement expected to be filed in connection with the proposed transaction.
The information set forth herein should be read in light of such risks.
Further, investors should keep in mind that certain of Gateway's financial results are unaudited and do not conform to SEC Regulation S-X.
Additionally, Gateway's financial measures include a non-IFRS financial measure Adjusted EBITDA and as a result such information will be gateway casino new westminster bc differently in Leisure's proxy statement relating to the proposed transaction and may fluctuate materially depending on many factors.
Accordingly, Leisure's financial results in any particular period may not be indicative of future results.
Neither Leisure nor Gateway is under any obligation to, and expressly disclaims any obligation to, update or alter any forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.
Leisure's filings with the SEC can be obtained, without charge, at the SEC's internet site.
Use of Projections: This communication contains financial forecasts prepared by Gateway management with respect to certain financial metrics of Gateway, including, but not limited to, revenue, Adjusted EBITDA and Adjusted EBITDA to Free Cash Flow Conversion.
Neither Gateway's independent auditors, nor the independent https://sellingonthenet.info/casino/casino-drive-revel-31250.html public accounting firm of Leisure, audited, reviewed, compiled, or performed any procedures with respect to the projections for the purpose of their inclusion in this communication, and accordingly, neither of them expressed an opinion or provided any other form of assurance with respect thereto for the purpose of this communication.
The financial forecasts and projections in this communication were prepared by Gateway's management, and these financial forecasts and projections should not be relied upon as being necessarily indicative of future results.
Neither Gateway nor Leisure undertakes any commitment to update or revise the projections, whether as a result of new information, future events, or otherwise.
The assumptions and estimates underlying the prospective financial information are inherently uncertain and are subject to a wide variety of significant business, economic, and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information.
Accordingly, there can be no assurance that the prospective forecasts are indicative of the future performance of Gateway or that actual results will not differ materially from those presented in the prospective financial information.
Inclusion of the prospective financial information in this communication should not be regarded as a representation by any person that the results contained in the prospective financial information will be achieved.
Additional Information: This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Leisure, GTWY Holdings or Gateway, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities gateway casino new westminster bc of such state or jurisdiction.
No portion of Leisure's or Gateway's websites is incorporated by reference into or otherwise deemed to be a part of this news release.
Non-IFRS Financial Metrics: This press release includes the presentation of Adjusted EBITDA, which is a supplemental measure of performance that is neither required by, nor presented in accordance with, generally accepted accounting principles " GAAP" or international financial reporting standards " IFRS".
Gateway believes such non-IFRS are useful measures of performance and uses such measures in order to facilitate operating performance comparisons on a consistent basis from period to period, to provide a more complete understanding of factors and trends affecting its business, to prepare annual operating budgets and forecasts and to determine components of management compensation.
Non-IFRS financial measures do not have a standardized meaning, and the definition of Adjusted EBITDA used by Gateway may be gateway casino new westminster bc from other, similarly named non-IFRS measures used by Gateway's peers operating in the casino gaming industry.
All Adjusted EBITDA figures are shown pre-IFRS 16 for comparison purposes.
All projections shown are based on figures provided by Gateway to Leisure on December 19, 2019.
Unless otherwise noted, all figures exclude Gateway's Edmonton properties which are expected to be carved-out of this transaction the "Non-Core Properties".
To the extent Gateway's shareholders pay LACQ's fees and expenses, shares issued to the existing Gateway shareholders shall increase on a pro rata basis by the amount of LACQ's fees paid by Gateway's shareholders.

Gateway Awards 2018

920 921 922 923 924

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