Correction to First Quarter News Release-Gateway Casinos Income Fund Reports First Quarter Fiscal 2007 Financial Results

BURNABY, BRITISH COLUMBIA– - Gateway Casinos Income Fund today announced a correction to its first quarter news release, which was issued May 14, 2007. The press release contained the incorrect distributable cash totals.

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Gambling history facts:

• 1946: Two famous landmarks open: Bugsy Siegel's Flamingo, and the Golden Nugget. Nevada levies its first gaming tax.
  1949: Benny Binion sets up a high-stakes poker game at his Horseshoe casino between Nick "The Greek" Dandalos and Johnny Moss. It turns into an epic five-month poker match, laying the foundations for the World Series of Poker.
• In 1911 US legislation prohibited stud poker but ruled that draw poker was a game of skill and therefore was not illegal.
• Casino chips were used in the 18th century as a substitute for money being wagered. Originally, they were pieces of bones, mother of pearl or ivory engraved with the name of the casino and their respective value.
• The word Casino originally meant a public hall for music and dancing. By the second half of the 19th century, the term essentially meant a collection of gaming or gambling rooms. The classic example of a casino, is the casino at Monte-Carlo, which was opened in 1861.