The transaction will be subject to standard regulatory approvals and is expected to close later on in the year.
Century Casino Signs Deal To Acquire Four Canadian Properties Through Subsidiary Vichy Properties.
The deal includes assets from Century Casino & Hotel Edmonton in Edmonton, Alberta, Century Mile Racetrack and Casino in Edmonton, Alberta, Century Downs Racetrack and Casino in Calgary, Alberta.
The property’s total purchase price totals C$221.7 million ($164.4 million), including C$192.3 million to be paid to a subsidiary of Century Casino.
ANOTHER CA$29.4 MILLION IS REQUIRED TO ACQUIRE FEE PROPERTY INTEREST IN CENTURY DOWNS.
Last month, Century Casino acquired the entire operation of the Nugget Casino Resort in Sparks, Nevada.
Ervin Heitzman and Peter Hoetzinger, co-CEOs of Century Casino, said, “We are excited to expand our good partnership with VICI into our Canadian portfolio.
“The deal provides greater financial flexibility as it continues to increase the property value of Canadian properties and grows as we continue to do business in Canada.
“We plan to use the proceeds from the sale for Nugget’s improvement funds and general business purposes.”
Upon termination of the deal, BC will add its Century Canada portfolio to its Master Lease Agreement between the company and its subsidiaries.
Rent will also be raised by C$17.3 million, with master leases expected to take place over an initial base period of 15 years.
Heitzman and Hoetzinger went on to say, “We are also considering the possibility of applying some revenue to repay debts under credit agreements or to return funds to shareholders through stock repurchase and/or special dividends,” adding, “We continue to evaluate the optimal use of capital.”
MAIN SITE: 바둑이게임