Century Casinos to acquire Nugget Casino in Nevada
The group has reached a definitive deal to purchase 50 per cent of Smooth Bourbon as well as Nugget Casino Resort from Marnell Gaming for $195m.
US.- Century Casinos has announced an agreement to acquire Nugget Casino Resort in Sparks, Nevada, from Marnell Gaming. It will also purchase 50 per cent of Smooth Bourbon for a total price $195m. It will have a five-year option to purchase the remaining 50 per cent for $105m plus 2 per cent per annum.
Smooth Bourbon owns the land and building underlying the Nugget gaming establishment, and will enter into a lease agreement for $15m of annual rent. The deal is under examination by the Nevada Gaming Commission.
Erwin Haitzmann and Peter Hoetzinger, co-chief executive officers of Century Casinos, said: “We have been looking at entering the Reno market for a long time, and we believe the Nugget is a perfect fit for our portfolio. We look forward to welcoming the great team at the Nugget to Century Casinos.
“We believe there is a lot of upside to this transaction and that we identified some areas of improvement to continue the Nugget’s growth. We expect the Nugget to seamlessly integrate and provide added synergies for Century Casinos’ US portfolio.”
The Nugget Casino Resort has 859 slot machines and 29 table games. It has 1,382 hotel rooms, an amphitheater, and seven restaurants.
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