Exhibit
4.7


 


Warrants


 


THIS
WARRANT SHALL BE VOID IF NOT EXERCISED PRIOR TO

THE EXPIRATION DATE (AS DEFINED BELOW)

LEISURE ACQUISITION CORP.


 


Incorporated
Under the Laws of the State of Delaware


 


Warrant
Certificate


 


This
Warrant Certificate certifies that Gateway Casinos & Entertainment Limited, or assigns, is the holder of 566,288 warrants
evidenced hereby (the “Warrants” and each, a “Warrant”) to purchase shares of common
stock, par value $0.0001 per share (the “Common Stock”), of Leisure Acquisition Corp., a Delaware corporation
(the “Company”), on the terms set forth herein. Each Warrant entitles the holder, upon exercise during the
period set forth below, to receive from the Company that number of fully paid and non-assessable shares of Common Stock as set forth
below, at the exercise price (the “Exercise Price”) determined as set forth below, payable in lawful money
(or through “cashless exercise” as provided for in the Warrant Agreement (as defined below)) of the United
States of America upon surrender of this Warrant Certificate and payment of the Exercise Price at the office or agency of the Company
or of a warrant agent selected by the Company (the Company acting as warrant agent or such warrant agent being referred to as the “Warrant
Agent”).


 


The
Warrants shall have the same terms and conditions as the Private Placement Warrants issued pursuant to the Warrant Agreement dated as
of December 1, 2017 between the Company and Continental Stock Transfer and Trust Company (the “Warrant Agreement”),
except that the holder may not transfer, assign or sell (a “Transfer”) the Warrants, except for a Transfer
to a Permitted Transferee (as defined below), to the extent permitted by the proviso to Section 2.6 of the Warrant Agreement.
Accordingly, subject to the exception in the prior sentence, while the Warrants are not issued under the Warrant Agreement and the holder
is not a Registered Holder under the Warrant Agreement, the terms and conditions of the Warrant Agreement applicable to the Private Placement
Warrants shall apply to the Warrants as if issued thereunder and governed thereby. Defined terms used in this Warrant Certificate but
not defined herein shall have the meanings given to them in the Warrant Agreement.


 


“Permitted
Transferee” means (a) any “Permitted Transferee” as defined in the Warrant Agreement, (b) the Warrantholder’s
affiliates or its or its affiliates’ officers or directors, or any family member of any of the Warrantholder’s or its affiliates’
officers or directors, (c) The Catalyst Capital Group (the “Sponsor”) or any affiliate thereof, and (d) by
virtue of, with respect to the Sponsor or affiliates of the Sponsor, the laws of Canada or the Sponsor’s or an affiliate of the
Sponsor’s charter documents upon dissolution of such person.


 


For
avoidance of doubt, the foregoing transfer restrictions are applicable to transfers of the Warrants, but upon exercise of the Warrants,
the foregoing transfer restrictions are not applicable to the shares of Common Stock received by the holder(s) of the Warrants upon such
exercise.


 




    	 



     


    

 


Each
Warrant is initially exercisable for one fully paid and non-assessable share of Common Stock. The number of shares of Common Stock issuable
upon exercise of the Warrants is subject to adjustment upon the occurrence of certain events set forth in the Warrant Agreement.


 


The
initial Exercise Price per share of Common Stock for any Warrant is equal to $11.50 per share. The Exercise Price is subject to adjustment
upon the occurrence of certain events set forth in the Warrant Agreement.


 


Subject
to the conditions set forth in the Warrant Agreement, the Warrants may be exercised only during the Exercise Period and to the extent
not exercised by the end of such period, the Warrants shall become void. The “Exercise Period” shall be the
period commencing on the date that is thirty (30) days after the first date on which the Company completes a merger, capital stock exchange,
asset acquisition, stock purchase, reorganization or similar business combination, involving the Company and one or more businesses (a
“Business Combination”), and terminating at 5:00 p.m., New York City time on the earlier to occur of: (x) the
date that is five (5) years after the date on which the Company completes its Business Combination, or (y) the liquidation of the Company,
or if the Company fails to consummate a Business Combination (the “Expiration Date”).


 


Reference
is hereby made to the further provisions of this Warrant Certificate set forth on the reverse hereof and such further provisions shall
for all purposes have the same effect as though fully set forth at this place.


 


This
Warrant Certificate shall not be valid unless signed by the Company.


 


This
Warrant Certificate shall be governed by and construed in accordance with the internal laws of the State of New York, without regard
to conflicts of laws principles thereof.


 


Date:
June __, 2021


 


	 	LEISURE
    ACQUISITION CORP.
	 	 	 
	 	By:	 
	 	Name:	George
Peng
	 	Title:	Chief
Financial Officer


 


The
holder hereby accepts the Warrants and agrees to be bound by the transfer restrictions contained in Section 2 of the Warrant Agreement,
as modified by the terms of this Warrant Certificate. The holder agrees that, in accordance with the Warrant Agreement, as a condition
to any Transfer to a Permitted Transferee, the Permitted Transferee is required to agree to be bound by the transfer restrictions in
the Warrant Agreement, as modified by this Warrant Certificate.


 


	 	GATEWAY
    CASINOS & ENTERTAINMENT LIMITED
	 	 	 
	 	By:	 
	 	Name:	Tolek
    Strukoff
	 	Title:	Chief
    Legal & Administrative Officer


 




    	 



     


    

 


[Form
of Warrant Certificate]


 


[Reverse]


 


The
Warrants evidenced by this Warrant Certificate shall have the same terms and conditions as the Private Placement Warrants issued pursuant
to the Warrant Agreement as if issued thereunder and governed thereby, except as otherwise set forth in this Warrant Certificate, and
the Warrant Agreement is hereby referred to for a description of the rights, limitation of rights, obligations, duties and immunities
of the Company, the Warrant Agent and the holder of the Warrants. A copy of the Warrant Agreement may be obtained by the holder hereof
upon written request to the Company. Defined terms used in this Warrant Certificate but not defined herein shall have the meanings given
to them in the Warrant Agreement.


 


Warrants
may be exercised at any time during the Exercise Period set forth in the Warrant Agreement. The holder of Warrants evidenced by this
Warrant Certificate may exercise them by surrendering this Warrant Certificate, with the form of election to purchase set forth hereon
properly completed and executed, together with payment of the Exercise Price as specified in the Warrant Agreement (or through “cashless
exercise” as provided for in the Warrant Agreement) at the office of the Warrant Agent. In the event that upon any exercise
of Warrants evidenced hereby the number of Warrants exercised shall be less than the total number of Warrants evidenced hereby, there
shall be issued to the holder hereof or his, her or its assignee, a new Warrant Certificate evidencing the number of Warrants not exercised.


 


Notwithstanding
anything else in this Warrant Certificate or the Warrant Agreement, no Warrant may be exercised unless at the time of exercise (i) a
registration statement covering the shares of Common Stock to be issued upon exercise is effective under the Securities Act and (ii)
a prospectus thereunder relating to the shares of Common Stock is current, except through “cashless exercise”
as provided for in the Warrant Agreement. For avoidance of doubt, the provisions of Section 7.4.1 of the Warrant Agreement (other than
those provisions that expressly apply only to the Public Warrants and not any other Warrants) shall apply to the Warrants evidenced hereby.


 


The
Warrant Agreement provides that upon the occurrence of certain events the number of shares of Common Stock issuable upon exercise of
the Warrants set forth on the face hereof may, subject to certain conditions, be adjusted. If, upon exercise of a Warrant, the holder
thereof would be entitled to receive a fractional interest in a share of Common Stock, the Company shall, upon exercise, round down to
the nearest whole number of shares of Common Stock to be issued to the holder of the Warrant.


 


Warrant
Certificates, when surrendered at the office of the Warrant Agent by the holder thereof in person or by legal representative or attorney
duly authorized in writing, may be exchanged, in the manner and subject to the limitations provided in the Warrant Agreement, but without
payment of any service charge, for another Warrant Certificate or Warrant Certificates of like tenor evidencing in the aggregate a like
number of Warrants.


 


Upon
due presentation for registration of transfer of this Warrant Certificate at the office of the Warrant Agent a new Warrant Certificate
or Warrant Certificates of like tenor and evidencing in the aggregate a like number of Warrants shall be issued to the transferee(s)
in exchange for this Warrant Certificate, subject to the limitations provided in the Warrant Agreement, without charge except for any
tax or other governmental charge imposed in connection therewith.


 


The
Company and the Warrant Agent may deem and treat the holder(s) hereof as the absolute owner(s) of this Warrant Certificate (notwithstanding
any notation of ownership or other writing hereon made by anyone), for the purpose of any exercise hereof, of any distribution to the
holder(s) hereof, and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary.
Neither the Warrants nor this Warrant Certificate entitles any holder hereof to any rights of a stockholder of the Company.


 


Election
to Purchase


 


(To
Be Executed Upon Exercise of Warrant)


 




    	 



     


    

 


The
undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, to receive shares of Common
Stock and herewith tenders payment for such shares of Common Stock to the order of Leisure Acquisition Corp. (the
“Company”) in the amount of $ in accordance with the terms hereof. The undersigned requests that [a
certificate for such shares of Common Stock be registered in the name of         , whose
address is
                          
and that such shares of Common Stock be delivered to              ,
whose address is               ][such shares of Common Stock
be delivered via book-entry transfer pursuant to written instructions delivered by the undersigned to the Warrant
Agent]1. If said number of shares of Common Stock is less than all of the shares of Common Stock purchasable hereunder,
the undersigned requests that a new Warrant Certificate representing the remaining balance of such shares of Common Stock be
registered in the name of             , whose address is
               , and that such Warrant Certificate be
delivered to                 , whose address is
          .


 


In
the event that this Warrant has been called for redemption by the Company pursuant to the terms of Section 6 of the Warrant Agreement
and the Company has required cashless exercise of this Warrant pursuant to the terms of Section 6.3 of the Warrant Agreement,
the number of shares of Common Stock that this Warrant is exercisable for shall be determined in accordance with subsection 3.3.1(b)
and Section 6.3 of the Warrant Agreement. In the event that the Warrants are to be exercised on a “cashless” basis
pursuant to subsection 3.3.1(c) of the Warrant Agreement, the number of shares of Common Stock that the Warrants are exercisable for
shall be determined in accordance with subsection 3.3.1(c) of the Warrant Agreement.


 


In
the event that the Warrant is to be exercised on a “cashless” basis pursuant to Section 7.4 of the Warrant Agreement,
the number of shares of Common Stock that this Warrant is exercisable for shall be determined in accordance with Section 7.4 of
the Warrant Agreement.


 


In
connection with the “cashless exercise” of the Warrants, the shares of Common Stock received upon such exercise shall not
bear any restrictive legend if the holder provides the Warrant Agent with an opinion of counsel (which shall be an outside law firm with
securities law experience) to the effect that (i) the exercise of the Warrants on a cashless basis in accordance with subsection 7.4.1
is not required to be registered under the Securities Act and (ii) the shares of Common Stock issued upon such exercise shall be freely
tradable under United States federal securities laws by anyone who is not an affiliate (as such term is defined in Rule 144 under the
Securities Act (or any successor rule)) of the Company and, accordingly, shall not be required to bear a restrictive legend.


 





 



1
Holder may elect the applicable delivery option in its description


 






    	 



     


    




 


In
the event that the Warrant may be exercised, to the extent allowed by the Warrant Agreement, through cashless exercise (i) the
number of shares of Common Stock that this Warrant is exercisable for would be determined in accordance with the relevant section of
the Warrant Agreement which allows for such cashless exercise and (ii) the holder hereof shall complete the following: The
undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, through the cashless exercise
provisions of the Warrant Agreement, to receive shares of Common Stock. The undersigned requests that [a certificate for such shares
of Common Stock be registered in the name of
                      ,
whose address is
                       
and that such shares of Common Stock be delivered to            , whose
address is
                     ][such
shares of Common Stock be delivered via book-entry transfer pursuant to written instructions delivered by the undersigned to the
Warrant Agent]2. If said number of shares is less than all of the shares of Common Stock purchasable hereunder (after
giving effect to the cashless exercise), the undersigned requests that a new Warrant Certificate representing the remaining balance
of such shares be registered in the name of         , whose address is
                , and that such Warrant Certificate
be delivered to           , whose address is
      .


 


	Date:
    __________, 20__	(Signature)
	 	 
	 	(Address)
	 	 
	 	 
	 	(Tax
    Identification Number)


 


	Signature
    Guaranteed:	 
	 	 
	 	 


 


THE
SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT
UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15 (OR ANY SUCCESSOR RULE)).


 





 



2
Holder may elect the applicable delivery option in its discretion


 




    	 



     


    

 


EXHIBIT
B


 


LEGEND


 


THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES
LAWS, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
AND ANY APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM REGISTRATION IS AVAILABLE. IN ADDITION, THE SECURITIES REPRESENTED BY THIS
CERTIFICATE MAY NOT BE SOLD OR TRANSFERRED EXCEPT TO A PERMITTED TRANSFEREE (AS DEFINED ON THE FACE OF THIS WARRANT CERTIFICATE) WHO
AGREES IN WRITING WITH THE COMPANY TO BE SUBJECT TO SUCH TRANSFER PROVISIONS.