Gateway Casinos Income Fund Reports Correction in Reported Balance of Unrecovered FDF Eligible Expenditures

BURNABY, BRITISH COLUMBIA– - Gateway Casinos Income Fund reports a correction in the balance of unrecovered FDF eligible expenditures for the Lake City Casinos that was reported in the Management Discussion and Analysis for the nine months ended September 30, 2005.

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Thu, November 10th, 2005

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Interesting gambling information:

  • The second oldest casino hotel resort on the Las Vegas Strip was the Last Frontier and it opened in October of 1942. It had 105 guestrooms and the property was made to look like an old western town. The first casino hotel resort opened just 18 months earlier and was called El Rancho.
  • Gambling became legalized in Vegas in 1931 by Mayme V. Stocker and J.H. Morgan who was issued Clark County Gaming License No. 1.
  • The famous banker J.P. Morgan once walked out of a Monte Carlo casino because the stakes were too low? At the time, the maximum wager was 12,000 francs and Morgan wanted it increased to 20,000 francs. When the casino manager refused to increase the limit, Morgan left the casino saying "12,000 francs! I have no time to lose such ridiculous amounts."
  • Las Vegas in Nevada owes its success to the mobster Benjamin "Bugsy" Siegel who organized gaming and bookmaking operations for The Mob (the Mafia).