Gateway Casinos Give Cash While Striking

Gateway Casinos Income Fund has announced that they are giving a cash distribution to their shareholders for the month of January 2007. All shareholders as of February 26, 2007, will receive checks sometime after the February 28th distribution. The distribution will be $0.1250 per unit.

The company is still battling a strike at the Palace Casino, and management was disappointed that Local 401 of the United Food and Commercial Workers Union chose to reject their latest offer. They had sat with a mediator and come up with what they felt was a more than generous offer, but only 43% of the employees voted in favor of it. The group has been on strike since September of last year.

Management did not understand why the employees chose to reject an offer that clearly addressed the employees concerns, and added signing bonuses and wage increases as requested. The new agreement would have put the workers back at their jobs earning money instead of holding out for something they may not get.

The casino continues to stay open with management staff and employees who crossed the picket line. They say that all slot machines and electronic games will continue to operate, and they will continue to offer live entertainment on the weekends.



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