Century Casinos Makes a Play for Rocky Gap Casino Resort in Maryland

Century Casinos is making a significant play in the American gaming industry! They are poised to acquire the Rocky Gap Casino Resort for a hefty $56 million. This Maryland treasure, featuring a Jack Nicklaus-designed golf course and a desirable location, attracted Century’s attention due to its impressive financial performance – generating $7.8 million in net revenue during 2021.

This purchase is a key component of Century’s ambitious strategy to broaden their presence throughout the United States. With Rocky Gap in their possession, in addition to the impending finalization of the Nugget Casino Resort acquisition in Nevada, they are steadily progressing towards building a nationwide casino dominion.

The agreement is mutually beneficial for both entities involved. Century Casinos gains a profitable asset for their portfolio, while Vici Properties, the current proprietor of the establishment, departs with a considerable sum of $204 million. It’s a clear indication that Century Casinos is serious about its intentions, and this is merely the beginning!

Century Gaming aims to broaden its collaboration with Vici Properties by incorporating the Rocky Gap Casino Resort into their holdings. This expansion would entail modifying their current triple net lease arrangement with Vici, setting an initial yearly rent of roughly $15.5 million for Rocky Gap.

This development follows a robust second quarter for Century Gaming, during which they announced increases in both earnings and income. Their net operating revenue experienced a substantial surge of 21% compared to the previous year, reaching $111.1 million.