Thursday, December 13, 2007

Gateway Casinos hit a jackpot

Canada.com

FAITES VOS JEUX: Gateway Casinos CEO Dave Gadhia looked to have hit a jackpot Tuesday, when the $110-million Starlight casino complex opened in New Westminster's Queensborough district, a week ahead of schedule. The facility's first and largest phase is a 100,000 square-foot casino with 852 slots and many other gaming opportunities, including a VIP baccarat room and touch-bet roulette. The 19,000-square-foot Schanks sports bar will open in February, offering 1,000 patrons simulated golf and baseball as well as real off-track betting. In January, the complex's 15,000-square-foot Keirans restaurant will feature what Kenyan-born Gadhia, 46, said will be "Vancouver's first revolving noodle bar." The bar, that is, not the noodles.

Nine-casino Gateway was acquired for a reported $800 million recently by Australian Kerry Packer's Publishing & Broadcasting Ltd. (PBL) and the Macquarrie Bank. Other privately held assets may have added $500 million to the tab.Gadhia is betting on lots more betting. He said Gateway will spend $150 million redeveloping and rebranding Burnaby's Delta (former Villa) hotel with a casino where the original low-rise section stood. By 2010, Gateway's Vernon, Kamloops and Kelowna casinos will double or more in size to 30,000, 30,000 and 40,000 square feet respectively."[This is] a vibrant, contemporary and subtly sexy casino," Gadhia said as graduating archeologist Tia Alexander greeted him while painted like the antiquities she may soon excavate.

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