rocky gap casino resort maryland casinos

Also, the casino is 25,000 square feet with 16 table games and 630 slot machines. It covers 270 acres and involves a 196-room hotel, meeting spaces, an event center, an 18-hole golf course and a spa designed by Jack Nicklaus. Rocky Gap is a good investment because it is located in Flintstone at Rocky Gap State Park, which lures over half a million visitors annually. In this regard, in a statement, Erwin Haitzmann and Peter Hoetzinger, co-CEOs of Century Casinos, said: “Rocky Gap is a great addition to our portfolio for expanding into Maryland.” The amendment includes an increase in initial annualized rent of about $15.5 million.” In addition, Century funded the purchase with cash from its balance sheet and $30 million loaned from a revolving credit deal with Goldman Sachs. On a related note, Century said: “We have amended our triple-net master-lease agreement with VICI to add the Rocky Gap property. The purchase by Century Casinos was because the company will now have the possibility to further extend Rocky Gap to attract more customers from neighboring markets and enter the Maryland casino market.

Additionally, $175 million of the revenue from the sale will be used to repay outstanding term loans.ĭuring the transaction process, Macquarie Capital took the role of exclusive financial advisor, and Latham & Watkins and Duane Morris were Golden’s legal advisors. purchased a stake in the buildings and land connected with Rocky Gap for roughly $203.9 million. of Colorado purchased the Rocky Gap business for roughly $56.1 million, subject to customary working capital adjustments, and New York-based VICI Properties Inc. Under the terms of the agreements, Century Casinos, Inc. Recently, Golden Entertainment Inc., a flagship operator of slot routes, casinos and taverns based in Las Vegas, revealed that it has finalized the formerly mentioned sale of Rocky Gap Casino Resort in Maryland for a total cash consideration of roughly $260 million, subject to customary equity capital adjustments.

Betting on sports futures, props and lay betsĬasino Sales, U.S.A., Las Vegas, Casino News, Latest Casino and Gambling News, World Casino News, North America Casino News, Gaming Industry News, Economy/Finance, Colorado, Licenses, Mergers, Acquisitions & Partnerships, Licensing, Maryland, New York.

Rocky gap casino resort maryland casinos