Local news: Isle Casino sold again; the buyer calls the "quality active" property (6/18/19)

A Colorado-based casino company announced on Monday it has entered into an agreement to purchase assets at the Isle Casino Cape Girardeau and has indicated that a hotel may be added to the property in the future.

In addition, Century Casinos announced that they are buying the Lady Luck Casino operations in Caruthersville, Missouri, and the Mountaineer Casino, Racetrack and Resort in New Cumberland, West Virginia. All three are owned by Eldorado Resorts Inc. of Reno, Nevada.

Century Casinos, headquartered in Colorado Springs, Colorado, said it buys games and other operations on the three properties for about $ 107 million. Meanwhile, VICI Properties Inc., a New York City-based real estate investment firm, has acquired the property of the three properties for approximately $ 278 million, and will lease them back to Century Casinos.

"These are three quality resources in strong and stable gaming markets, each enjoying a leading regional position and each with a long overview of producing solid and growing profitability," said Century Casino's president and director Peter Hoetzinger during a telephone conference on Monday, and added the two Missouri casinos and the property in West Virginia "pretty much the size of our company."

Company employees said the transaction is expected to close in early 2020, pending antitrust approval and approval of the Missouri Gaming Commission and the West Virginia Lottery, "as well as other common closing issues."

Lyle Randolph, vice president and general manager of Isle Casino here, said in a phone call an interview he learned about pending sales late Sunday evening in a phone call from Eldorado Resorts. From now on, Randolph said it is "business as usual" at the Cape Girardeau casino, and he does not expect any significant changes to the casino operation at least until the sale is completed.

Source link

Back to top button