Century Casinos, already operator of 10 casinos in the US, has entered into aa definitive agreement to acquire the operations of Rocky Gap Casino Resort from Lakes Maryland Development for around US$56 million.
The property’s real estate assets will be simultaneously acquired by an affiliate of VICI Properties for $204m. Century will then rent the Rocky Gap Casino from VICI for around $15.5m per annum.
Rocky Gap is located in Flintstone, Maryland. The stunning state park is visited by more than half a million people every year, and this full-service resort of 270 acres includes an 18-hole golf course designed by Jack Nicklaus, a 5,000sqft events centre, meeting spaces, a spa and additional outdoor activities. The property consists of over 25,000sqft of gaming floor, 630 slot machines, 16 table games, 198 hotel rooms and five food and beverage venues.
Century will also have the opportunity to partner with a sports betting operator in Maryland to bring sports betting to Rocky Gap.
Century’s co-CEOs, Erwin Haitzmann and Peter Hoetzinger, said of this imminent acquisition: “The addition of Rocky Gap is another important milestone in our pursuit to acquire prime US assets. With this acquisition and our pending acquisition of the Nugget Casino Resort in Nevada, we will oversee a US portfolio that reaches from east to west,”