Casinos owned by Gateway Corporation aim to secure $1.3 billion in private loans to restructure existing debts within Canadian territory.

In the world of Canadian casino operations, two major players - Great Canadian Gaming Corporation and Gateway Casinos - are making significant moves in the financial sector.

Great Canadian Gaming Corporation, a corporation controlled by the US-based Apollo Global Management, has announced a refinancing of debt through a $665 million term loan from the US leveraged loan market. This move is part of their current debt refinancing efforts, with Morgan Stanley not involved in this process.

On the other hand, Gateway Casinos, a rival company controlling 31 properties across Ontario, Alberta, and British Columbia, is seeking $1.3 billion in private debt for its own refinancing. Morgan Stanley, however, is handling the process of shopping around lenders to secure the best deal for Gateway Casinos.

Catalyst Capital Group Inc., the current owner of Gateway Casinos, has been exploring strategic options, including a potential sale. The exact financiers Gateway Casinos is targeting after its CAD 1.3 billion refinancing have not been detailed in the provided search results.

The size of the debt for both companies might change during negotiations, and all these processes are currently in the preliminary stage. It's important to note that the refinancing debt by Great Canadian Gaming Corporation is separate from Gateway Casinos' $1.3 billion debt proposal.

Great Canadian Gaming Corporation operates 25 casinos across Canada, while Gateway Casinos manages a total of 31 properties. The negotiations for both companies' debts are ongoing, and it remains to be seen how these financial moves will impact the Canadian casino industry.

Stay tuned for updates as these negotiations progress.