Gateway Casinos & Entertainment Ltd., one of the largest gambling companies in Canada, is considering a sale or other strategic options, according to people with knowledge of the matter.
The company has hired Morgan Stanley and Macquarie Group Ltd. to look for potential investors or acquirers, according to the people, who asked not to be identified discussing private deliberations. Gateway is seeking a valuation of about US$2 billion, including $1.1 billion in debt, one of the people said.
Gateway owns 31 gaming properties in British Columbia, Ontario and Alberta, according to its website. The business, which celebrated its 30th anniversary last year, has grown over the years through internal expansion and acquisition.
