The credit facility also refinanced the company’s existing debt and will finance the purchase of Nugget Sparks.Įrwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos. The company financed the acquisition with a new credit facility that was issued by Goldman Sachs Bank USA on the closing date. The company also has a five-year option to acquire the remaining 50% of the membership interests in the Smooth Bourbon for $105 million plus 2% per annum. The purchase of the latter is expected to occur within one year and is subject to approval by the Nevada Gaming Commission.įollowing this second closing, the company will own the operating assets of the casino and 50% of the membership interests in Smooth Bourbon. The company entered into a Membership Interest Purchase Agreement with the seller in February 2022 to acquire the Smooth Bourbon membership interests and to purchase 100% of the membership interests in Nugget Sparks. Century Casinos will now receive $1.9 million per quarter (before any expense pursuant to the lease) for its share of the rent from Nugget Sparks. Smooth Bourbon owns the land and building underlying the Nugget Casino Resort, and has entered into a lease with Nugget Sparks, which operates the resort for an annual rent of $15 million. This will become its tenth casino in North America. Century Casinos announced Friday it has completed its previously announced acquisition of 50% of the membership interests in Smooth Bourbon from Marnell Gaming for $95 million, as part of its agreement to acquire Nugget Casino Resort in Sparks, near Reno in Nevada.
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