Canada-based casino gambling operator Century Casinos has secured the necessary regulatory approval from the West Virginia Lottery Commission for the acquisition of Mountaineer Casino, Racetrack and Resort.
Recently as a part of its US expansion plans, Century Casinos struck a deal with gambling giant Eldorado Resorts to acquire three of its properties including Isle Casino Cape Girardeau, and Lady Luck Caruthersville for about $107 million.
Century Casinos had partnered with Vici properties to jointly purchase the three casinos for $385 million. According to the deal between Vici and Century, Vici acquires the land and real estate assets of the properties for approximately $278m while Century gets hold of the operating assets for about $107m.
The deal which has been announced and is expected to be finalized by early 2020 has one more regulatory hurdle to overcome – it has to be approved by the Missouri Gaming Commission.
The transaction, which is expected to close in early 2020, is subject to the approval of the Missouri Gaming Commission as well as other customary closing conditions.
“We are very excited to be expanding into West Virginia,” said Erwin Haitzmann and Peter Hoetzinger, co-chief executive officers of Century Casinos.
“Mountaineer is a great addition to our portfolio and will be our third racetrack and casino property. We look forward to working with the staff and community to continue the current success at Mountaineer into the future.”