Century Casinos unveils The Riverview in Cape Girardeau
Century Casinos has unveiled its latest addition to the Missouri gambling scene with the grand opening of The Riverview Hotel in Cape Girardeau.
Situated adjacent to Century Casino Cape Girardeau, The Riverview boasts 69 rooms across six stories, spanning a total of 68,000 square feet.
The project, totalling $30.5m in cost, was entirely financed using the company’s cash reserves.
Meanwhile, Century Casinos is also making progress on another front with the construction of a new land-based casino and hotel complex in Caruthersville, Missouri.
This ongoing Missouri project remains on schedule and within budget, with an estimated total cost of $51.9m.
Construction commenced in December 2022, and completion is anticipated in the fourth quarter of 2024.
Funding for the Missouri endeavour is being provided through Vici Properties. Upon completion, Vici will assume ownership of the real estate improvements associated with the Caruthersville project, integrating them into Century Casinos’ triple net lease agreement with Vici subsidiaries.
Peter Hoetzinger, President & Co-CEO of Century Casinos, is slated to showcase the company’s latest developments and engage in discussions with select institutional investors at the Cape Girardeau location.
Towards the end of 2023, Century Casinos completed the sale of a range of Canadian properties for $162.4m. As part of this process, the company incorporated its Canadian portfolio into the lease agreement with Vici Properties.
Regarding the sale, Erwin Haitzmann and Peter Hoetzinger, Co-CEOs of Century Casinos, commented: “We are pleased to extend our good partnership with Vici to our Canada portfolio.
“This transaction provides us with the ability to pay down our debt with greater financial flexibility as we continue to grow.”
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