The acquisition of Isle Casino Cape Girardeau, Lady Luck Caruthersville and Mountaineer Casino Racetrack and Resort operations by Century Casinos from Eldorado Resorts for about $107m is now complete.
At the same time, VICI Properties purchased the property assets of the three casino properties and entered into a triple net lease agreement with Century for an initial annual rent of approximately $25 million and an initial 15-year term, with four five-year renewal options.
With a new credit facility provided by Macquarie Capital on the closing date, Century funded the purchase. The credit facility was also used to refinance the existing debt of the company.
“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, the portfolio of Century has grown to 18 casinos around the world, including more than 7,185 gaming machines, 285 table games and 3,400 employees.