Century Casinos completes acquisition of Nugget Casino Resort

Updated:2024-03-30 08:09    Views:78

Operator Century Casinos has acquired the full operations of the Nugget for $100m from Marnell Gaming.

The Nugget Casino Resort is located in Sparks, Nevada, near Reno-Tahoe International Airport and Lake Tahoe.

The property includes two hotel towers, an amphitheatre, 1,472 total parking spaces, and additional bars and restaurants.

The gaming floor hosts 892 slot machines and 29 table games.

Erwin Haitzmann and Peter Hoetzinger, Co-CEOs of Century Casinos, said: "We are very excited to be expanding into Nevada.

"The Nugget is a great addition to our portfolio. We have plans to update the façade, signage,Table games slot floor, and food and beverage venues of the Nugget.

"We look forward to working with the staff and community to continue the current success at this property into the future."

Including the newly acquired Nugget, Century Casinos has 18 casinos in its portfolio from locations across the US, Canada and Poland.

On 1 April 2022, Century Casino borrowed the funds for the acquisition from Goldman Sachs USA, which also served as the sole financial advisor for the transaction.

Later that month, Century Casinos purchased 50% of member interests in Smooth Bourbon that had previously been owned by Marnell.

Nugget Casino Resort resides on land that Smooth Bourbon owns, with an annual rent agreement for the property standing at $15m.

Smooth Bourbon will become a consolidated subsidiary of Century through the acquisition.

Last month, the Nevada Gaming Control Board approved Century Casinos for its licence as the new owner of Nugget Casino Resort.

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