CENTURY CASINOS INC /CO/ (CNTY): M&A transaction — Century Casinos completes $56.1M acquisition of Rocky Gap Casino Resort operations

CENTURY CASINOS INC /CO/

Purchased Rocky Gap operations from Golden Entertainment for ~$56.1M; financed with $30M revolver draw plus cash.
VICI Properties acquired land/building for ~$203.9M; Master Lease amended with $15.5M annual rent increase.
Property has 630 slot machines, 16 table games, 198 hotel rooms, 18-hole Nicklaus golf course.
Pro forma 2022 net revenue $508.5M and Adj. EBITDA $128.7M, inclusive of Rocky Gap.
Portfolio expands to 19 casinos worldwide; 7,565 gaming machines, 268 table games.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

CENTURY CASINOS INC /CO/ completed an acquisition involving Lakes Maryland Development, LLC for $56.1 million (closed 2023-07-25).

Action: acquisition
Counterparty: Lakes Maryland Development, LLC
Consideration: $56.1 million
Closing: 2023-07-25

Exact text from the filing

On July 25, 2023 (the “Closing Date”), Century Casinos, Inc. (the “Company”) completed its previously announced acquisition (the “Acquisition”) of the operations of Evitts Resort, LLC dba Rocky Gap Casino Resort (“Rocky Gap”), located in Flintstone, Maryland from Lakes Maryland Development, LLC, a subsidiary of Golden Entertainment Inc. (“Lakes Maryland”), for an aggregate purchase price of approximately $56.1 million (subject to adjustment based on the Rocky Gap’s working capital and cash at closing), subject to the terms and conditions set forth in the Equity Purchase Agreement (the “Purchase Agreement”), dated as of August 24, 2022.

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15 m&a transactions filed in the last 30 days. Browse all m&a transactions →

CENTURY CASINOS INC /CO/ filing history →

Source: SEC EDGAR

accession 0000911147-23-000053

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