Century Casino Caruthersville in Missouri, which owns and manages the casino, announced on Friday that modifications to a Missouri legislation have been adopted, removing the need that casinos be “floating facilities.”
The Missouri Gaming Commission will now be able to approve a casino facility that is built as a normal structure as long as it also has a container beneath it that holds at least 2,000 gallons of water. Century Casino Caruthersville, Missouri’s last remaining riverboat casino on open water, will be able to transition to a non-floating facility as a result of this shift.
Century also announced the acquisition of parcels of land between land it had leased and the Pavilion structure, which houses a restaurant, multifunctional spaces, and an access to the riverboat casino’s walkway. The purchases also include a two-story hotel, and they would be the first step toward a future casino and hotel expansion, as well as improved parking access, for which the operator has already begun developing plans with an architecture firm. It plans to renovate the current hotel and reopen it with 36 rooms in early 2022.
Limited casino licences
However, the number of possible casino licences in Missouri is still limited to 13, and casinos must be located within 1,000 feet of the Mississippi or Missouri rivers. Century Casino Cape Girardeau, one of the company’s two casinos in Missouri, operates 1,365 slot machines and 32 table games, accounting for 43 percent of net operating revenue and 104 percent of Adjusted EBITDA1 in Q1 2021.
In a press release Erwin Haitzmann and Peter Hoetzinger, Co CEOs of Century Casinos said: “We are very thankful to the Missouri legislature, the Caruthersville community and our management in Missouri for having driven and supported our successful efforts in Missouri.
“We look forward to bringing exciting improvements to our property in Caruthersville.”