Century Casinos is delighted to unveil its newest gaming destination, the River View Hotel, situated in Cape Girardeau, Missouri.
This recently constructed, six-floor hotel is adjacent to Century Casino Cape Girardeau and features 69 guest rooms within its 68,000 square foot expanse. The $3.05 million endeavor was financed entirely through the company’s internal funds, highlighting their dedication to the area.
Moreover, Century Casinos is making substantial headway on another captivating Missouri project – a state-of-the-art land-based casino and hotel complex in Caruthersville. This development is advancing smoothly, with an anticipated total investment of $51.9 million, remaining on track and within budget. Construction commenced in December 2022, and the grand opening is targeted for the final quarter of 2024.
Financial backing for the Missouri project is being provided by Vici Properties. Upon completion, Vici will hold ownership of the real estate improvements associated with the Caruthersville project, which will then be incorporated into a lease agreement between Century Casinos and a Vici subsidiary.
Peter Hoetzinger, Century Casinos’ President and Co-Chief Executive Officer, will be present at the Cape Girardeau property to highlight the company’s latest ventures and engage with investors regarding their future strategies.
This announcement follows Century Casinos’ calculated divestment of a collection of Canadian assets for $162.4 million at the close of 2023, illustrating their keen emphasis on growth and expansion within strategic markets.
Century Gaming has opted to enter into a sale-leaseback agreement with Vici Properties for its Canadian holdings. This transaction expands upon their established partnership and enables Century to reduce its liabilities and generate liquidity for alternative ventures. The joint chief executive officers of Century, Erwin Haitzmann and Peter Hoetzinger, conveyed their enthusiasm regarding this recent arrangement and its implications for the company’s trajectory.
