VICI Properties will acquire an interest in the land and buildings associated with Rocky Gap for approximately $204 million, representing a 7.6 percent capitalization rate. “We are looking forward to working with the Maryland Lottery and Gaming Control Agency to obtain gaming approvals and with the casino leadership and team members to effect a smooth transition and great future for Rocky Gap,” say Erwin Haitzmann and Peter Hoetzinger, Co-chief executive officers of Century Casinos. The seller recently invested $10 million in renovations to its hotel, slot machines, restaurants and sports lounge. The casino comprises more than 25,000 square feet of gaming floor, 630 slot machines, 16 table games and two casino bars.
It offers a casino, hotel, conference center, comedy club, five food-and-beverage venues, 5,000 square-foot events center, 18-hole golf course designed by Jack Nicklaus, spa, indoor pool, fitness center, pro shop and multiple outdoor recreational activities. Rocky Gap is situated along Lake Habeeb in Flintstone, located in the western panhandle of Maryland between Pennsylvania and West Virginia.
(NASDAQ: CNTY) have entered into a definitive agreement to acquire the operations of Rocky Gap Casino Resort from Golden Entertainment Inc. New York City-based VICI Properties Inc.
