Century Casinos Announces Opening Date for New Land-Based Century Casino & Hotel Caruthersville, MO

Rhea-AI Summary

Century Casinos announced the opening of its new land-based Century Casino & Hotel Caruthersville in Missouri on November 1, 2024, following Missouri Gaming Commission's approval. The new facility represents a significant expansion with 599 slot machines and nine live table games, marking a 50% increase in gaming positions. The hotel capacity will double to 74 rooms. The $51.9 million project, funded by VICI Properties, was completed on time and on budget since construction began in December 2022. The property will be part of a triple net master lease agreement with VICI, increasing annual rent by $4.2 million.

Positive

• 50% increase in gaming positions with 599 slot machines and nine table games
• Hotel capacity doubled to 74 rooms
• Project completed on time and on budget at $51.9 million
• Successful transition from temporary pavilion to permanent land-based facility

Negative

• Additional $4.2 million in annual rent expenses

News Market Reaction

+2.80%

1 alert

+2.80% News Effect

On the day this news was published, CNTY gained 2.80%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

COLORADO SPRINGS, Colo., Oct. 23, 2024 /PRNewswire/ -- Century Casinos, Inc. (the "Company") (Nasdaq Capital Market^®: CNTY) announced today that its new land-based casino and hotel in Caruthersville, Missouri will open on November 1, 2024.

At today's meeting, the Missouri Gaming Commission approved the move of the Century Casino & Hotel Caruthersville gaming license from the temporary pavilion location to the new land-based casino. This approval clears the path for the November 1, 2024 opening.

The new Century Casino & Hotel Caruthersville will have 599 slot machines and nine live table games, a 50% increase in gaming positions compared with the temporary location. The number of hotel rooms will double to 74. The construction of this new land-based casino and hotel started in December 2022 and will be finalized on time and on budget with an estimated project cost of $51.9 million, which has been funded by VICI Properties Inc. ("VICI"). VICI will own the real estate improvements associated with the Caruthersville project, which will become part of the Company's triple net master lease agreement with subsidiaries of VICI. Annual rent under the lease will increase by approximately $4.2 million.

The opening of the new land-based casino will be celebrated with a ribbon-cutting event at 11:30 a.m. Central Time on Friday, November 1, and a flurry of activities over the opening weekend.

About Century Casinos, Inc.:
Century Casinos, Inc. is a casino entertainment company. In the United States the Company operates the following operating segments: (i) in the East, the Mountaineer Casino, Resort & Races in New Cumberland, West Virginia and Rocky Gap Casino, Resort & Golf in Flintstone, Maryland; (ii) in the Midwest, the Century Casino & Hotels in Cape Girardeau and Caruthersville, Missouri, and Century Casino & Hotels in Cripple Creek and Central City, Colorado; and (iii) in the West, the Nugget Casino Resort, in Reno-Sparks, Nevada. In Alberta, Canada the Company operates Century Casino & Hotel in Edmonton, the Century Casino in St. Albert, Century Mile Racetrack and Casino in Edmonton and Century Downs Racetrack and Casino in Calgary. In Poland, the Company operates six casinos through its subsidiary Casinos Poland Ltd. The Company continues to pursue other projects in various stages of development.

Century Casinos' common stock trades on The Nasdaq Capital Market^® under the symbol CNTY. For more information about Century Casinos, visit our website at www.cnty.com.

This release and the presentation referenced therein may contain certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and assumptions of the management of Century Casinos based on information currently available to management. Such forward-looking statements include, but are not limited to, statements regarding the Company's Caruthersville project, timing and costs of new projects, projects in development and other opportunities. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from forward-looking statements include, among others, risks described in the section entitled "Risk Factors" under Item 1A in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 and in subsequent periodic and current SEC filings the Company may make. Century Casinos disclaims any obligation to revise or update any forward-looking statement that may be made from time to time by it or on its behalf.

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SOURCE Century Casinos, Inc.

FAQ

When will the new Century Casino & Hotel Caruthersville (CNTY) open?

The new Century Casino & Hotel Caruthersville will open on November 1, 2024, with a ribbon-cutting ceremony at 11:30 a.m. Central Time.

How many gaming positions will the new Century Casino Caruthersville (CNTY) have?

The new casino will feature 599 slot machines and nine live table games, representing a 50% increase in gaming positions compared to the temporary location.

What was the total cost of the Century Casino Caruthersville (CNTY) project?

The project cost was $51.9 million, funded by VICI Properties Inc.

How many hotel rooms will the new Century Casino & Hotel Caruthersville (CNTY) have?

The new facility will have 74 hotel rooms, double the previous capacity.