Century Casino Completes Purchase Of Maryland Casino

Most recently, Century Casino Inc. announced that it has finalized its acquisition of Rocky Gap Casino Resort in Maryland, the United States. 릴게임사이트 The transaction for the purchase of the game property was worth approximately US$56.1 million and was reported to have closed on July 25, 2023. Through this transaction, the company expands its business in the United States.

Century Casino is a leading gambling entertainment company that owns and operates casinos in the United States and Canada. In Great White North, the company operates the Century Casino & Hotel Century Mile Racecourse in Edmonton, Alberta. The company also has a 75% stake in Century Downs Racecourse and Casino in Calgary, Alberta.

As the deal closed, the affiliate of VICI Properties also acquired a related stake in land and buildings related to Rocky Gap Casino Resort in a $239.9 million deal. Century Casino has also adjusted its Triplenet Master Lease Agreement with VICI to add the casino. The amendment includes an annual initialization rent increase of approximately USD 15.5 million.

Century Casino’s co-CEOs Ervin Heitzman and Peter Hoetzinger said the team was pleased to expand its operations to Old Line State. The two added that the new casino was a major addition to the company’s property lineup. Operators now work with their employees and communities and look forward to continuing the casino’s current success.

The game resort is based in Flintstone, Maryland, in Rocky Gap State Park, which is visited by more than half a million visitors each year. It stretches over 270 acres and features an 18-hole golf course designed by Jack Nicklaus, a 5,000-square-foot event center, conference space, hot springs, and many outdoor activities. It also offers 630 slots, 16 table games, and many high-end restaurants.

Following the completion of the deal, CC currently owns and operates 19 casinos worldwide, providing 7,565 game consoles, 268 table games and more than 4,100 full-time jobs. With the acquisition in mind on January 1, 2022, the company’s 2022 net income and adjusted EBITDA were $58.5 million and $128.7 million, respectively.

Earlier this year, VICI Properties Inc. also expanded its gaming property portfolio in Alberta. The company has agreed to purchase four facilities from Pure Canadian Gaming Corporation in a deal worth more than C$271.9 million. The four game houses were Pure Casino Edmonton, Pure Casino Yellowhead, Pure Casino Calgary, and Pure Casino Lesbridge.

In addition to purchasing properties, the company has signed a triple net master lease agreement with Pure Canadian Gaming Corporation for its entire Pure portfolio. Pure Master Lease has an initial total annual rent of C$21.8 million, representing an implied acquisition capital rate of 8% and an initial 25-year term, with four 5-year tenant renewal options.

Related Posts

Leave a Reply

Your email address will not be published.