New York-listed casino operator Century Casinos has received approval from the West Virginia Lottery Commission to acquire the Mountaineer Casino, Racetrack and Resort from Eldorado Resorts.
Century Casinos agreed a deal to acquire Eldorado's Mountaineer for $107m in June, alongside the Isle Casino Cape Girardeau in Missouri and Mississippi’s Lady Luck Caruthersville casino.
With approval in West Virginia now secured, the transaction is expected to close in early 2020, subject to further approval by the Missouri Gaming Commission, as well as other customary closing conditions.
“We are very excited to be expanding into West Virginia,” said Century Casinos co-chief executive officers Erwin Haitzmann and Peter Hoetzinger. “Mountaineer is a great addition to our portfolio and will be our third racetrack and casino property. We look forward to working with the staff and community to continue the current success at Mountaineer into the future.”
Following completion, Century Casinos’ portfolio of properties will increase to ten casinos across North America featuring over 6,700 gaming machines and 150 table games.
Shares in Eldorado Resorts Inc (NSQ:ERI) closed down 2.40 per cent at $39.48 per share in New York Thursday, while shares in Century Casinos Inc (NSQ:CNTY) closed up 0.38 per cent at $7.85 per share.