secwatch.observer — SEC 8-K summary
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Issuer:     CENTURY CASINOS INC /CO/ (CNTY)
CIK:        0000911147
Form:       8-K
Filed at:   2022-04-05T23:59:59+00:00
Accession:  0000911147-22-000034
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 1.02, 2.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/911147/000091114722000034/0000911147-22-000034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/911147/000091114722000034/cnty-20220401x8k.htm
  HTML page:      https://secwatch.observer/filing/0000911147-22-000034

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