Century Casinos completes $95M acquisition of 50% interest in Nugget Casino property company, secures $350M term loan

CENTURY CASINOS INC /CO/

Completed acquisition of 50% membership interest in PropCo (owns Nugget Casino Resort land and building) from Marnell Gaming for $95M.
New $350M term loan and $30M revolver from Goldman Sachs; proceeds used for acquisition, refinancing $167M debt, and OpCo escrow.
OpCo purchase (100% of Nugget operator) for $100M expected within one year, subject to Nevada Gaming Commission approval.
PropCo and OpCo entered 15-year triple net lease with $15M annual rent; Century gets $1.9M quarterly as its share.
Century has five-year option to acquire remaining 50% of PropCo for $105M plus 2% per annum.

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