LACQ - Leisure Acquisition Corp.

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
10.41
-0.01 (-0.10%)
At close: 4:00PM EST
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Previous Close10.42
Open10.41
Bid10.41 x 1000
Ask0.00 x 900
Day's Range10.33 - 10.41
52 Week Range9.85 - 10.44
Volume3,117
Avg. Volume115,022
Market Cap260.25M
Beta (5Y Monthly)0.03
PE Ratio (TTM)N/A
EPS (TTM)-0.26
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • CNW Group

    Gateway Casinos & Entertainment Limited and Leisure Acquisition Corp. to Host Investor Call Regarding Business Combination on January 7, 2020

    Gateway Casinos & Entertainment Limited and Leisure Acquisition Corp. to Host Investor Call Regarding Business Combination on January 7, 2020

  • Gateway Casinos Plans Listing in $1.1 Billion Deal With Leisure
    Bloomberg

    Gateway Casinos Plans Listing in $1.1 Billion Deal With Leisure

    (Bloomberg) -- Gateway Casinos & Entertainment Ltd., one of Canada’s largest gaming companies, has agreed to a deal that will create a new firm valued at about $1.1 billion including debt.Gateway said Friday that Leisure Acquisition Corp., a special purpose company created to make acquisitions, will merge into a new unit of GTWY Holdings, Gateway’s parent. GTWY shares are expected to be listed on the New York Stock Exchange, according to a statement.It’s the latest in a string of mergers in the fast-growing gaming industry aided by special purpose acquisition companies, or spacs, that let private companies raise money without an initial public offering. Earlier this month, sports-betting firm DraftKings Inc. agreed to be bought by a publicly traded acquisition fund that valued the new firm at about $3.3 billion.Gateway, backed by private equity firm Catalyst Capital Group, has long sought to sell its shares. The Burnaby, British Columbia-based gaming company filed for a U.S. initial public offering in November 2018, expecting to raise about C$400 million ($306 million) and valuing the company at as much as C$2.5 billion, a person familiar with the matter said at the time. Gateway withdrew its IPO registration on Friday.Toronto-based Catalyst was said to be weighing an IPO of Gateway in late 2015 before investor interest for new issuances in Canada dried up, people familiar with the matter said then. It also tried to take Gateway public in 2012 and also withdrew that IPO.Gateway has 25 properties in British Columbia and Ontario, including the Starlight Casino near Vancouver that was named in a money laundering review last year for having permitted one gambler to convert C$3.1 million, mostly in 20s bundled in plastic bags, into chips in 2010. The provincial government implemented new rules in 2018 requiring casinos to more tightly identify sources of funds brought in by patrons.Gateway said the transaction with Leisure will be anchored by a $30 million private placement by gaming investor HG Vora Capital Management LLC, which has agreed to purchase 3 million shares of GTWY for $10 each, according to the statement.Following the transaction, Marc J. Falcone, a Leisure director and a former banker at Goldman Sachs Group Inc. and Deutsche Bank Securities Inc., will become president and chief executive officer, replacing Gateway CEO Tony Santo, who will retire, according to the statement.The deal is expected to close in the second quarter, Gateway said. Gateway and Leisure will host an investor call to discuss the transaction on Jan. 7, according to the statement.To contact the reporter on this story: Natalie Obiko Pearson in Vancouver at npearson7@bloomberg.netTo contact the editors responsible for this story: David Scanlan at dscanlan@bloomberg.net, Steve GeimannFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • CNW Group

    Gateway Casinos & Entertainment Limited and Leisure Acquisition Corp. to Combine in Transaction Valued at US$1.1 Billion (C$1.5 Billion)

    Gateway Casinos & Entertainment Limited and Leisure Acquisition Corp. to Combine in Transaction Valued at US$1.1 Billion (C$1.5 Billion)

  • When Will Leisure Acquisition Corp. (NASDAQ:LACQ) Run Out Of Money?
    Simply Wall St.

    When Will Leisure Acquisition Corp. (NASDAQ:LACQ) Run Out Of Money?

    Leisure Acquisition Corp. (NASDAQ:LACQ) continues its loss-making streak, announcing negative earnings for its latest...