Century Casinos’ acquisition of the operations of Isle Casino Cape Girardeau, Lady Luck Caruthersville and Mountaineer Casino Racetrack (pictured) and Resort from Eldorado Resorts has been completed for circa $107m.
Simultaneously, VICI Properties has acquired the real estate assets of the three casino properties and entered into a triple net lease agreement with Century for an initial annual rent of approximately $25m and an initial term of 15 years, plus four five-year renewal options.
Century financed the acquisition with a new credit facility that was issued by Macquarie Capital on the closing date. The credit facility also been used to refinance the firm’s existing debt.
“We are very excited to be expanding into Missouri and West Virginia,” Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos, said in a joint statement. “Cape Girardeau, Caruthersville and Mountaineer are great additions to our portfolio. We look forward to working with the staff and communities to continue the current success at these properties into the future.”
With this transaction now complete, Century’s portfolio has increased to 18 casinos worldwide that include over 7,185 gaming machines, 285 table games and 3,400 employees.
