HomeNews ❯ Casino Rama Ownership Complexities Muddy Waters for Gateway

Advertiser Discolusure We want to bring you the best content and the best offers. Just so you know, we may collect compensation from the links on this page and some of our reviewers are compensated for contributing content to this website.

Casino Rama Ownership Complexities Muddy Waters for Gateway

Gateway Casinos has certainly had a busy year this year, with the company overseeing many developments and renovating lots of venues across the country. To say it has been a successful year for the company would be underselling it considerably. With casino strikes behind them, and new venues set to open across Canada, it is a good time to be a Gateway rep.

However, there are still some creases that need to be ironed out, and it comes down to law changes and structural issues. Indeed, there have been issues surrounding Rama Casino, one of the flagship venues that Gateway inherited as part of their Central Gaming Bundle acquisition. It appears that Gateway feels the ownership structure at Rama presents a risk for the future, and this is something the company will want to deal with sooner rather than later.

Gateway Casino

Casino Rama is bound to be one of the venues that Gateway has, or at least, had, great ideas for. Whether it still intends to use this as a flagship venue remains to be seen. It still appears that it is a very important asset for Gateway, but they may need to look at possible restructuring moving forward.

When it was announced that Casino Rama had new owners, back in the summer, there was a mixture of excitement and anticipation. As one of the biggest names in the Canadian gambling industry, it was expected that Gateway were going to do great thing with the site. Indeed, the 23-year deal they signed with the OLG gives them plenty of scope for improvement in the future.

Gateway is not an operation that is afraid to make drastic changes, as they have shown in the past. And they are certainly a company that knows how they can achieve success long-term. Indeed, the company has proven itself skilled at following through with $57 million renovations to really give customers a complete gambling experience.

If they feel like there are too many people getting in the way of things getting done at Rama, then we would expect there to be a shakeup pretty soon. Gateway has actually filed papers with the US Securities and Exchange Commission to try to get to the bottom of this and untangle the mess that has been made. In a statement, the company claimed, “Delays or impediments to effecting operational or development decisions with respect to the Casino Rama Resort property, or an inability to enforce our rights against one or more interested parties, would have an adverse effect on our business, financial condition and results of operations.” Casino Rama employs more than 1,400 people, and is Gateway’s largest. So the last thing they want is to be plagued by anymore strike action.

Things are moving in a positive direction for Gateway, and the company even filed for IPO on the New York Stock Exchange recently. The last thing they will want is for any problems to further derail the way they are doing business. This is an issue the company will want to get sorted out as soon as possible.

FAQ about Online Casinos in Canada

Follow the Latest Casino News

OCC Weekly News Digest #11

July 30, 2020 Read ❯

OCC Weekly News Digest #10

July 23, 2020 Read ❯

OCC Weekly News Digest #9

June 25, 2020 Read ❯

Read More News

All rights reserved 2020.
Gambling can be addictive, Please Play Responsibly.

Follow Us: