Century Casinos has announced that its subsidiary will sell the Canadian venue to Rowanwood Financial Properties for C$8.1m ($6.5m).
US.- Century Casinos has announced that its subsidiary Century Resorts Alberta (CRA) has entered into a definitive agreement to sell the land and building it owns in Calgary, Alberta, Canada to Rowanwood Financial Properties for C$8.1m ($6.5m).
Rowanwood paid C$0.7m and the remaining C$7.4m will be paid upon closing, subject to adjustments for property taxes and other revenues and expenses relating to the property. The transaction is expected to close within 30 days.
On December 2020, CRA sold the casino operations of Century Casino Calgary located on the property and leased the portion of the property containing the casino premises to the purchaser.
CRA continues to operate Century Sports, a sports bar, bowling and entertainment facility located on a portion of the property until the closing of the transaction. Upon closing, CRA will stop operating Century Sports and will transfer the lease agreement to Rowanwood.
Century Casinos reports $116.6m revenue in Q3
In November, Century Casinos published its financial results for the third quarter of 2021. For Q3, ending September 30, it reported $116.6m revenue, up 202.7 per cent year-on-year from $95.7m. It reported growth in all regions after Century’s performance in 2020 was impacted by the Covid-19 pandemic.
The operator’s US properties reported $73.89m, up 18 per cent from $62.64m in the same period last year. All of Century’s US properties were open and operational in Q3 as Covid-19 measures in the country were eased.