Century Casinos gets commitment for $400 million credit facilities for acquisition

By Rebecca Melvin

Concord, N.H., Feb. 23 – Century Casinos Inc. has received a commitment for $400 million of senior secured credit facilities including a $350 million term loan and $30 million revolver to fund its acquisition of 50% of Smooth Bourbon LLC and 100% of Nugget Sparks LLC from Marnell Gaming LLC for $195 million, according to an 8-K filed with the Securities and Exchange Commission and a company news release.

There is also a five-year option to purchase the remaining 50% of Smooth Bourbon for $105 million plus 2% per year. The resort properties are based in Nevada.

Goldman Sachs Bank USA is the lead on the debt.

The Smooth Bourbon transaction and the financing are expected to close early in the second quarter of 2022. The Nugget Sparks acquisition is expected to close within one year of the Smooth Bourbon transaction, subject to required approvals of the Nevada Gaming Commission. Closing of both transactions is subject to customary closing conditions.

Goldman Sachs & Co. LLC served as sole financial advisor to Century Casinos in connection with the acquisition.

Century Casinos is a Colorado Springs, Colo.-based international casino entertainment company.

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