The casino operations will be acquired from Lakes Maryland Development for a purchase price of approximately $56 million with adjustments. Follow on Twitter.Nasdaq Capital Market-listed casino entertainment company Century Casinos has announced it has entered a “definitive agreement” for the acquisition of Rocky Gap Casino Resort’s operations. Golden Entertainment shares, traded on the Nasdaq exchange, closed up $3.12, 8 percent, to $42.16 on volume nearly twice the daily average.Ĭentury shares, also on the Nasdaq, closed up 52 cents, 6.8 percent, to $8.16 a share on average daily volume.Ĭontact Richard N. “We view the deal favorably for Golden, as we believe it furthers the growth and capital return story, at a favorable price, for an asset we deemed to be noncore,” Deutsche Bank gaming analyst Carlo Santarelli said in a Thursday note to investors. It also includes the holdings of MGM Growth Properties - MGM Grand, Mandalay Bay, The Mirage, Park MGM, Luxor, New York-New York and Excalibur. The New York-based company’s portfolio includes Caesars Palace, Harrah’s Las Vegas and Harrah’s Laughlin. Meanwhile, the deal adds to growing roster of Vici Properties’ real estate holdings. The company operates hotel-casinos and horse racing tracks in Colorado, Missouri, Mississippi, Pennsylvania, and in Alberta, Canada, and Poland. Rocky Gap will be Century’s first casino operation in Maryland. “The sale price represents an attractive, premium multiple relative to our current valuation and will provide additional financial flexibility for us to create shareholder value.” “Strategically, this transaction will enable Golden to focus on the continued success of our operations in core markets,” he said. “Since Golden began operating Rocky Gap seven years ago, we have invested our resources to enhance the property’s amenities and our contributions to the state of Maryland,” Blake Sartini, chairman and CEO of Golden, said in a release.

Golden expects to use revenue from the transaction to bolster its existing operations in Nevada and Montana. The deal, subject to regulatory approvals, is expected to close in mid-2023.

for $203.9 million and the casino operations to Colorado Springs, Colorado-based Century Casinos Inc. Las Vegas-based Golden on Thursday said it is selling the casino real estate in Flintstone, Maryland to real estate investment trust Vici Properties Inc. Golden Entertainment Inc., operator of the Strat, Arizona Charlies and dozens of taverns under the PT’s brand, is selling its Rocky Gap Casino Resort in Maryland for $260 million. (AP Photo/Cumberland Times-News, Greg Larry) This photo shows the swimming pool at the Rocky Gap Casino Resort near Cumberland, Md.

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