Gateway Casinos Income Fund
TSX : GCI.UN

Gateway Casinos Income Fund

November 14, 2007 13:50 ET

Gateway Casinos Income Fund: New World Gaming Receives Final Gaming Regulatory Approval

BURNABY, BRITISH COLUMBIA and SYDNEY, AUSTRALIA--(Marketwire - Nov. 14, 2007) - Gateway Casinos Income Fund (the "Fund" or "Gateway") (TSX:GCI.UN) and New World Gaming Partners Ltd. ("New World Gaming") today announced that all necessary regulatory approvals have been obtained from British Columbia Lottery Corporation ("BCLC") in connection with New World Gaming's May 8, 2007 offer (the "Offer") for all of the outstanding units and convertible debentures of Gateway. New World Gaming confirms that all gaming regulatory conditions to its Offer have now been satisfied.

Subject to satisfaction or waiver of the remaining conditions to the Offer, including the requirement that 66 2/3% of the issued and outstanding units are tendered to the Offer, the Offer is expected to be completed at 5:00 p.m. (Toronto time) on Wednesday, November 14, 2007 (the "Expiry Time").

Gateway and New World Gaming would like to encourage all unitholders to tender their units and convertible debentures to the Offer prior to the Expiry Time.

Securityholders with any inquiries regarding the Offer should contact Georgeson Shareholder Communications Canada Inc., toll free at 1-866-656-4123.

Forward-Looking Statements

This press release may contain forward-looking statements which reflect management's expectations regarding the future opportunities, growth, results of operations, performance and business prospects of the Fund and its subsidiaries. Forward-looking statements typically contain words such as "anticipates", "believes", "continue", "could", "expects", "indicates", "plans", "will", "intends", "may", "would" or similar expressions suggesting future outcomes or events, although not all forward-looking statements contain these identifying words. Examples of such statements include, but are not limited to, statements concerning: (i) New World Gaming's intention to acquire the outstanding units and convertible debentures of the Fund; (ii) the expected expiry date of the Offers; and (iii) the satisfaction of all conditions to the Offers in due course.

Such forward-looking statements reflect management's current beliefs and are based on information currently available to management. Forward-looking statements involve significant risks and uncertainties, and the Fund cautions readers not to place undue reliance on these statements as a number of important factors could cause the Fund's actual results to differ materially from the beliefs, outlooks, plans, objectives, expectations, anticipations, estimates and intentions expressed in such forward-looking statements. The forward-looking statements contained herein are made as of the date of this press release and are expressly qualified in their entirety by this cautionary statement. The Fund undertakes no obligation to revise these forward-looking statements to reflect subsequent events or circumstances. Readers are directed to the Fund's most recent annual information form filed on SEDAR at www.sedar.com for a discussion of the risks and uncertainties facing the Fund.

To find out more about Gateway Casinos Income Fund (TSX: GCI.UN), visit our website at http://www.gatewaycasinosincomefund.com.

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