Century Casinos Gets Approval to Bring Missouri Riverboat Ashore

Posted on: July 16, 2021, 01:33h. 

Final up to date on: July 16, 2021, 01:51h.

Century Casinos stated Friday efforts to convey ashore its namesake venue in Caruthersville, Mo., the final riverboat on line casino within the state, are paying off.

Century Casinos
Gamblers at slot machines at a Century On line casino in Missouri. The corporate obtained approval to convey its Caruthersville venue ashore. (Picture: CNBC)

The Colorado-based gaming firm strikes to change Missouri legislation that beforehand mandated the on line casino be a “floating facility” or riverboat are bearing fruit.

Going ahead, the Missouri Gaming Fee could have the power to approve a on line casino facility that’s constructed as a typical constructing, so long as it additionally features a container with no less than 2,000 gallons of water beneath the power,” in line with an announcement issued by the corporate.

Century On line casino Caruthersville, which is considered one of a pair of properties operated by the corporate in Missouri, “is the final remaining riverboat on line casino on open water in Missouri.”

Century Historical past Missouri

Century acquired the Caruthersville venue and its namesake property in Cape Girardeau in 2019, partnering with gaming actual property funding belief (REIT) VICI Properties on the offers.

These belongings have been acquired from the corporate beforehand generally known as Eldorado Resorts. It was a part of that agency’s plan to dump some smaller venues main as much as its acquisition of Caesars Leisure. These gaming properties, along with the Mountaineer On line casino Racetrack and Resort in West Virginia have been included in a single transaction.

The overall buy worth was $385 million, with Century doling out $107 million for working rights. The Caruthersville casino “consists of a dockside on line casino that includes 21,000 sq. toes of on line casino area, 513 slot machines, 9 desk video games, two eating venues, a 40,000 sq. foot pavilion, and a 28-space RV park,” in line with Century.

Century Aiming for Large Issues in Missouri

Main as much as the Missouri determination on the Caruthersville venue, Century bought parcels of close by land and leased a land-based pavilion constructing that’s house to a restaurant and multifunctional areas. There’s additionally a small two-story lodge on that land. The operator is planning to boost that lodge, broaden it to 36 rooms, and have it operational a while in 2022. Information confirms the state is a crucial marketplace for Century.

Century’s “two casinos in Missouri, Century On line casino Caruthersville and Century On line casino Cape Girardeau, function 1,365 slot machines and 32 desk video games and generated 43 p.c of the corporate’s web working income and 104 p.c of the corporate’s adjusted earnings earlier than curiosity, taxes, depreciation and amortization (EBITDA) in Q1 2021,” stated the operator.

In Could, information broke that the corporate is mulling the addition of a hotel to its Cape Girardeau on line casino. The addition of lodging there may make the regional gaming venue a extra interesting vacation spot, and assist the operator higher capitalize on some built-in geographic benefits. The city is house to Southeast Missouri State College, and is simply 100 miles away from St. Louis and 150 miles from Memphis.

Century’s US venues include the 2 Missouri properties, the Mountaineer in West Virginia and a pair of casinos in its house state of Colorado. The corporate additionally operates gaming venues in Canada and Poland.

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