Home / Business / Local News: Isle Casino's is sold again; A buyer qualifies his property of quality (18/06/19)

Local News: Isle Casino's is sold again; A buyer qualifies his property of quality (18/06/19)

A Colorado-based casino company announced Monday that it has signed an agreement to purchase operating assets at the Isle Casino Cape Girardeau and has indicated that a hotel could be added to the property in the future.

In addition, Century Casinos announced the acquisition of the Lady Luck casino operations in Caruthersville, Missouri and Mountaineer Casino, Racetrack and Resort in New Cumberland, West Virginia. All three belong to Eldorado Resorts Inc. of Reno, Nevada.

Century Casinos, headquartered in Colorado Springs, Colorado, announced that it would buy games and other activities on the three properties for an amount of about $ 107 million. Meanwhile, VICI Properties Inc., a New York-based real estate investment company, acquires the real estate assets of the three properties for approximately $ 278 million and sells them to Century Casinos.

"There are three quality assets in strong and stable gaming markets, each of which enjoys a leading position in the region and has long experience in terms of strong and growing profitability," he said. Monday the President and co-CEO of Century Casino, Peter Hoetzinger, adding the acquisition of the two Missouri casinos and the building in West Virginia "almost double the size of our society."

Company officials said the transaction is expected to be finalized in early 2020, pending the approval of antitrust laws and approvals from the Missouri Gaming Commission and the West Virginia Lottery, "as well. than other usual closing conditions. "

Lyle Randolph, Vice President and General Manager of Isle Casino, said in a phone interview that he had learned of the sale going on Sunday night in a phone call from Eldorado Resorts. Currently, Randolph has stated that the Cape Girardeau casino "was operating as usual" and that it did not expect a significant change in the casino's business until at least the sale was finalized. .

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