We report the results of a study of a multimode semiconductor laser gyroscope (MSLG) with a long fibre-optic ring cavity (RC) and alternating frequency dithering formed by a lithium niobate phase modulator, and discuss the factors that determine the device operation. The fundamental limitations in MSLG operation are phase fluctuations and the multimode nature of radiation. Phase fluctuations caused by spontaneous emission of photons in a semiconductor optical amplifier (SOA) result in a slow drop in the beat amplitude. However, its complete decay does not occur due to the periodic and short-term lock-in phenomenon, which leads to the equalisation of the fluctuation levels in pairs of counterpropagating waves (PCPWs) that form the RC modes, and, thereby, to the restoration of the beat amplitude. The limitations associated with the multimode lasing regime are overcome due to the fact that the emission spectrum consists of a small number of narrow lines, and the positions of the antinodes and nodes of standing waves in the SOA field distribution coincide or are close. Both factors lead to the mode locking in spectral lines and, as a consequence, to synchronisation of PCPW beats at the device output. The mechanism of the formation of these factors is not yet clear.