Gateway Casinos Income Fund (the "Fund" or "Gateway") (TSX:GCI.UN) and New World Gaming Partners Ltd. ("New World Gaming") announced today that holders ("Unitholders") of trust units ("Units") of Gateway holding in the aggregate 30,445,047 Units, representing approximately 94% of the total outstanding Units, have tendered their Units to New World Gaming's offer dated May 8, 2007 (the "Offer'). Gateway and New World Gaming also announced today that holders ("Debentureholders') of $21,094,000 of the principal amount of Gateway's 5.35% convertible extendible unsecured subordinated debentures due June 30, 2011 (the "Debentures"), representing approximately 99% of the total principal amount of outstanding Debentures, have tendered their Debentures to the Offer. New World Gaming has instructed the depositary to take up and accept for payment all Units and all Debentures tendered to the Offer.
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