Century Casinos finalizes Nugget Casino Resort acquisition

Casino entertainment company Century Casinos announced it expanded its presence in Nevada after finalizing a major acquisition. Earlier this week, the company confirmed it completed the acquisition of the operations of the Nugget Casino Resort.

The deal, with a price tag of approximately $100 million, enabled Century Casinos to acquire the operations of the casino resort from Marnell Gaming. A statement released by the company explains that the acquisition of the operations of the Nugget Casino Resort was completed on April 3, 2023.

The acquisition follows a lengthy process dating back to last April. Back then, Century Casinos acquired 50% of the membership interest in Smooth Bourbon LLC, the company that owns the land and building of the casino resort from Marnell. Smooth Bourbon and the Nugget have inked an annual rent lease agreement with a price tag of $15 million. However, upon completion of the acquisition, Century Casinos confirmed that Smooth Bourbon will become its consolidated subsidiary.

Thanks to the acquisition Century Casinos further boosts its growth and presence not only in Nevada but in the US as well. The location of the Nugget Casino Resort is perfect, given that the Reno-Sparks area is a popular destination for outdoor recreation. It is close to Lake Tahoe, as well as ski resorts.

Moreover, the casino resort is positioned within close proximity of Reno-Tahoe International Airport and is also on Interstate 80, giving visitors easy access to the resort. Nugget Casino Resort has two hotel towers, with nearly 1,400 hotel rooms as well as a convention area and an outdoor amphitheater.

Guests of the resort can enjoy different options for dining, as well as multiple lounges and bars. There's plenty of parking available within the resort's five-story, 1,200-space parking garage. Additionally, the resort offers nearly 1,300 more parking spaces. Visitors to the Nugget Casino Resort that like gambling activities are in for a treat. The resort offers some 892 slot machines and 29 table games within its 71,200 square feet of casino area.

Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos, said about the latest announcement: "We are very excited to be expanding into Nevada." The duo explained that Nugget Casino Resort makes a fine addition to the company's growing portfolio of properties.

"We have plans to update the façade, signage, slot floor and food and beverage venues of the Nugget," added Haitzmann and Hoetzinger. Finally, the duo noted: "We look forward to working with the staff and community to continue the current success at this property into the future."

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