Canada’s Gateway Casinos Seeks $1.3 Billion in Private Debt
- Morgan Stanley is reaching out to lenders on behalf of company
- Funds would be used to repay existing loans, pay dividend
Gamblers at slot machines at a casino in Vancouver in 2019.
Photographer: Darryl Dyck/BloombergThis article is for subscribers only.
One of Canada’s biggest gaming companies is seeking as much as C$1.8 billion ($1.3 billion) of private debt to refinance loans and pay owners a dividend, in what would be one of the country’s biggest such deals this year.
Gateway Casinos & Entertainment Ltd. is working with Morgan Stanley on the outreach to lenders, according to people with knowledge of the matter who asked not to be identified as the talks are private. Conversations are preliminary and details — including the size — of a deal may change, they said.