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Clairvest's $24 Million Investment In Gateway Casinos Closes1 September 2000TORONTO, Ontario --(Press Release) – Sept.1, 2000 --Clairvest Group Inc. (TSE:CVG) today announced the closing of its agreement to invest $24 million in privately-held Gateway Casinos Inc. through a secondary purchase of shares. Clairvest now owns 28.4% of Vancouver-based Gateway Casinos. ``Clairvest's domain research identified gaming as a rapidly growing industry that generates strong after-tax cash flows for investors,'' said Jeff Parr, Co-CEO and Managing Director of Clairvest. Mr. Parr continued, ``Our investment in Gateway Casinos is an excellent opportunity to partner with experienced entrepreneurs with a defined strategy to significantly grow the business. The British Columbia market, specifically, has tremendous growth prospects.'' |