Century Casinos concludes $100m acquisition of Nugget Casino Resort
The purchase paves the way for company expansion in Nevada.
Century Casinos has completed its agreement with Marnell Gaming to purchase the operations of Nugget Casino Resorts, located in Sparks Nevada for close to $100m.
Nugget Casino Resort is a full-service resort that gives its guests easy access to both Interstate 80 and to the Reno-Tahoe International Airport. The destination features two hotel towers, 114,500 square feet of convention space and a large gaming floor.
Its 71,200 square-foot casino space is home to 892 slot machines and 29 table games.
Company Co-CEOs Erwin Haitzmann and Peter Hoetzinger said in a joint statement: “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, 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.”
A current lease agreement has been established between The Nugget and Smooth Bourbon, which owns the land where The Nugget resides. Century Casinos purchased 50% of the membership interests in Smooth Bourbon a year ago. According to the lease agreement, annual rent for the land and the building will total $15m.
Going forward, Smooth Bourbon will join Century as a consolidated subsidiary.
Century Casinos recently released an update on its casino construction project in Caruthersville, Missouri. The company broke ground on its latest land-based casino development and will add another 140 slot machines to its current total of 650.
The project is scheduled to be completed by 2024 and will open soon after, pending regulatory approval from the Missouri Gaming Commission and from to other local regulators.
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