Century gets approval for Eldorado casino purchases
Century Casinos has secured approval from the Missouri Gaming Commission to acquire the Isle Casino Cape Girardeau and Lady Luck Caruthersville from Eldorado Resorts.
In June 2019 the company entered into a definitive agreement with Eldorado to acquire the operations of Cape Girardeau, Caruthersville and Mountaineer Casino, Racetrack and Resort, located in New Cumberland, West Virginia, from Eldorado Resorts for approximately $107m. The acquisition, which is expected to close this month, is subject to customary closing conditions.
Isle Casino Cape Girardeau is located in Cape Girardeau, Missouri, approximately 120 miles south of St. Louis, Missouri, overlooking the Mississippi river. The property opened in 2012 and consists of a dockside casino featuring 41,500 square feet of casino space, 851 gaming machines, 24 table games, three dining venues, a pavilion and an entertainment centre. The property also includes a wide variety of non-gaming amenities, including an events centre.
Lady Luck Caruthersville is a riverboat casino located along the Mississippi river in Caruthersville, Missouri. The property opened in 1995 and consists of a dockside casino featuring 21,000 square feet of casino space, 513 slot machines, nine table games, two dining venues, a 40,000 square foot pavilion and a 28-space RV park.
Discussing the purchases earlier in the year Peter Hoetzinger, co-chief executive officer of Century Casinos, said: “The acquisition of the operations of Cape Girardeau, Caruthersville and Mountaineer will transform Century Casinos into a premier regional casino operator in North America.
“We believe these assets are a great fit for our portfolio and will complement Century Casinos’ expertise in operating small to mid-sized casinos. We are pleased to partner with Vici Properties to structure this transaction in a manner that we expect will be immediately accretive to our operating results.”