In a landmark announcement, Century Casinos, Inc. revealed its latest venture, a new land-based casino and hotel in Caruthersville, Missouri, which is set to open its doors on November 1, 2024. This development follows the Missouri Gaming Commission’s recent approval to transition the Century Casino & Hotel Caruthersville’s gaming license from a temporary pavilion to the new facility, marking a significant milestone for the company.
Approval and anticipation: setting the stage for expansion:
The approval by the Missouri Gaming Commission is a pivotal step for Century Casinos, ensuring that the new establishment will commence operations as scheduled. The new casino and hotel complex represents a substantial upgrade over the previous temporary gaming facility. It will boast 599 slot machines and nine live table games—a 50% increase in gaming positions. Additionally, the hotel will expand to include 74 rooms, effectively doubling its current capacity.
Construction of the new casino, which began in December 2022, is expected to conclude both on time and within the projected budget of $51.9 million. This project is financed by VICI Properties Inc. (VICI), which will also own the real estate improvements linked to the Caruthersville project. These improvements will be incorporated into the Company’s existing triple-net master lease agreement with subsidiaries of VICI, resulting in an estimated annual rent increase of approximately $4.2 million.
According to the company’s press release, the grand opening of the Century Casino & Hotel Caruthersville is scheduled with a ceremonial ribbon-cutting at 11:30 a.m. Central Time on Friday, November 1. The event will kickstart a weekend filled with various celebratory activities, setting a festive tone for this significant expansion. This event is expected to attract a large number of guests and mark a new chapter in the company’s growth.
In addition to its U.S. operations, Century Casinos has a strong presence in Alberta, Canada, where it manages several establishments including the Century Casino & Hotel and the Century Mile Racetrack and Casino in Edmonton, as well as the Century Casino in St. Albert. The company also extends its reach to Europe where it operates six casinos in Poland through its subsidiary, Casinos Poland Ltd. Renovations at the new casino in Wroclaw are ongoing, with an expected opening in October 2024. The Company closed its Krakow casino in May 2024 and its LIM Center casino in Warsaw in July 2024 due to expired licenses at both sites. While the Company applied for license renewals before their expiration, there is no guarantee that these licenses will be granted.
