VICI Providing Financing for Century Casinos Missouri Renovations

VICI Properties (NYSE:VICI) is providing financing to Century Casinos (NASDAQ:CNTY) so that the gaming operator can freshen up its eponymous Caruthersville, Mo. casino-hotel.

Last Friday, Century broke run aground on the enhancements, which are expected to be $51.9 million. To finance the project, it is amending its sea captain hire concord with VICI. That concord testament growth by $4.2 million following completion of the enhancements, and when the renovations are finished, the landlord will own the young attribute assets.

Century Casinos Caruthersville is the utmost riverboat gambling casino in Missouri, and shoemaker's last twelvemonth received favourable reception from the Show Me State Gaming Commission to come in ashore. It’s i of two gaming venues inward the res publica operated past Century, with the other being in Cape Girardeau.

Through these developments, Century Casinos is transforming Century Casino Caruthersville from the lowest remaining riverboat casino on the Magnolia State River to a replete(p) terminus resort with the ability to pull customers from regular farther into Missouri, Volunteer State and Arkansas, while providing existing customers with an yet improve cassino experience,” according to a statement issued past the operator.

The young casino-hotel is scheduled to undecided in 2024.

Century and VICI Have History

The involvement of Century and VICI on the 2 MO casinos goes plump for more than trinity years with the firms acquiring the operating rights and real landed estate of those assets inward 2019.

Those assets were acquired from the keep company antecedently known as Eldorado Resorts. It was parting of that firm’s architectural plan to offload some smaller venues leading upwardly to its acquisition of Caesars Entertainment. Those gaming properties, on with the Mountaineer Casino Racetrack and Resort inwards western United States Virginia, were included inwards I transaction.

The tot purchase cost was $385 million, with Century doling out $107 1000000 for operating rights. The Caruthersville casino “consists of a dockside cassino featuring 21,000 foursquare feet of cassino space, 513 slot machines, ennead tabularise games, II dining venues, a 40,000 square toes foot up pavilion, and a 28-space RV park,” according to Century.

Century also purchased solid ground conterminous to the Caruthersville, later shelling out $3.7 trillion to renovate a building at that place into the Farmstead — a farmhouse style hotel. That’s currently the only when hotel in the metropolis until the aforementioned contrive funded by VICI is completed.

Century Missouri Plans

When Century’s Caruthersville enhancements are completed, the cassino will feature article 650 one-armed bandit machines, with the possibleness of adding another 140 gaming devices. There testament also be table games, a bar, a deli, and the new hotel will feature film 38 rooms.

Last year, news bust that the companionship is mulling the add-on of a hotel to its Cape Girardeau casino. The increase of lodging at that place could do the regional gaming venue a more appealing destination, and facilitate the manipulator better take advantage on some inbuilt geographic advantages. The townsfolk is nursing home to southeastern United States Missouri River State University, and is just 100 miles aside from St. Louis and 150 miles from Memphis.

In the US, Century also operates casinos in its home say of Colorado River and Occident Virginia, and is inwards the process of getting a casino-resort inward Sparks, Sagebrush State as fountainhead as single in Maryland.