Gateway Casinos & Entertainment has announced plans to build a new, 45,000-square-foot entertainment and gaming property next to the South Okanagan Events Centre.

It will be called Cascades Casino Penticton.

The project promises up to 150 new jobs and a $25-million construction investment.

Gateway has entered into a lease with the City of Penticton for the property.

The casino will feature a large gaming floor with entertainment and multiple dining options, including a rooftop patio.

“Gateway … is very excited to announce our intentions for our next big redevelopment project,” Jag Nijjar, vice-president of operations with Gateway, said in a press release.