Century Casinos to acquire Nugget Casino Resort for ~$195M in two closings

CENTURY CASINOS INC /CO/

First closing: buys 50% of PropCo (real estate) for ~$95M, expected Q2 2022.
Second closing: buys 100% of OpCo (operations) for ~$100M, contingent on Nevada Gaming Commission approval within 1 year.
Five-year option to acquire remaining 50% of PropCo for $105M plus 2% per annum.
Financing secured: $350M term loan from Goldman Sachs to fund acquisition, refinance debt, and for corporate purposes.

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