Gateway Casinos files for US IPO
The Canadian company has filed for an IPO in the US to list its shares on the NYSE.
US.- Candian gaming operator Gateway Casinos & Entertainment filed on Tuesday for an initial public offering (IPO) with the US Securities and Exchange Commission in order to list its shares on the New York Stock Exchange (NYSE).
The company initially set a placeholder amount of US$100 million to indicate the size of the IPO, while the amount of money the company is planning to raise in its first IPO filing is used to calculate registration fees.
The current biggest shareholder in Gateway Casinos is Catalyst Fund, which holds 5% in the company. Olga Ilich, a politician from Canada, also holds a stake in the company, as a regulatory filing revealed.
Moreover, Gateway said that all shares in the iPO will be sold by shareholders and that it doesn’t expect to receive any of the net proceeds from the sales. Morgan Stanley is the underwriter to the IPO, Reuters informed.
