Century Resorts recently made a major play by acquiring the Golden Chunk Casino and Resort. They picked it up from Marnell Gaming for a hefty $100 million, assuming control of all operational facets.
The Golden Chunk, a landmark in Sparks, Nevada, enjoys a prime location near the Reno-Tahoe International Airport and the picturesque Lake Tahoe. It features two grand hotel towers, an expansive event center, plentiful parking with 1,472 slots, and a diverse selection of dining and entertainment venues. Gaming aficionados can enjoy 892 slot machines and 29 table games.
“Venturing into Nevada is an exciting move for us,” remarked Century Resorts co-CEOs Erwin Haitzmann and Peter Hoetzinger. “The Golden Chunk is a terrific asset to our holdings, and we have ambitious plans to modernize its facade, signage, slot machine floor, and dining offerings.” They continued, “We are enthusiastic about partnering with the committed team and the surrounding community to enhance the Golden Chunk’s current achievements.”
This purchase brings Century Resorts’ total to 18 casinos across the United States, Canada, and Poland.
To fund this transaction, Century Resorts obtained financing from Goldman Sachs & Co. LLC, who also acted as the sole financial consultant. Notably, just weeks earlier, Century Resorts had acquired a 50% interest in Smooth Bourbon from Marnell. This detail is noteworthy because the Golden Chunk Casino Resort occupies land held by Smooth Bourbon, under a yearly lease agreement of $15 million.
Century Casinos sets its sights on acquiring Smooth Bourbon, with the goal of integrating the company into its corporate structure. This action follows closely on the heels of Century Casinos receiving approval from the Nevada Gaming Commission to assume control of the Golden Nugget casino resort in the preceding month.
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