Century completes Nevada casino deal

Century Casinos has completed its acquisition of 50 per cent of the membership interests in Smooth Bourbon, the casino and land owner, from Marnell Gaming for $95m.

PropCo owns the land and building of the Nugget Casino Resort in Nevada and has entered into a lease with Nugget Sparks, the operator of the venue, for an annual rent of $15m.

Century entered into the membership interest purchases agreement with the seller in February to acquire the PropCo membership interests and buy 100 per cent of the membership interests in OpCo for an additional $100m.

The purchase of OpCo is expected to complete within the next year. Then Century will own the operating assets of the casino and half of the membership interests in PropCo with a five-year option to acquire the rest for $105m.

Century operates casinos in several US states and Canada, plus Casinos Poland’s eight locations.