Publishing and Broadcasting Ltd. and Macquire Bank are close to complete their $1.5 billion acquisition of an important Canada casino chain called Gateway Casino, after seven months of negotiations and delays due to regulatory approvals. The purchase includes 9 casinos and 3,000 gaming machines.

“Subject to satisfaction of the remaining conditions, the bid is expected to be completed on or about 14 November,” James Packer’s PBL informed this week in a statement. The Gateway Casinos board backs the offer made by PBL but the operation also requires the approval of the British Columbia Lottery Corporation and two-thirds of the Gateway Casinos Income Fund’s units.

PBL obtained the funds for the purchase from the sale of half its media assets to CVC Capital Partners last year. Although the deal with Gateway was announced in April, it took several months to get the necessary regulatory approvals from Canada’s national regulators as well as those in Alberta and British Columbia.