Originally a roadside coffee shop called Awful Awful, the Nugget Casino Resort in Sparks, Nevada, is to be sold to a Colorado-based gaming company for a spectacular $195m.
Century Casinos, in equal partnership with Nevada-registered Smooth Bourbon, has entered into a definitive agreement to purchase the casino resort in Sparks, Nevada, from Marnell Gaming. Century then has a five-year option to purchase Smooth Bourbon’s 50% stake for $105m.
“We have been looking at entering the Reno market for a long time, and we believe the Nugget is a perfect fit for our portfolio,” said Century Casinos co-CEOs Erwin Haitzmann and Peter Hoetzinger. “We believe there is a lot of upside to this transaction and that we identified some areas of improvement to continue the Nugget’s growth.”
Century Casinos owns and operates gaming properties in Cripple Creek and Central City, Colorado, as well as in Edmonton, Alberta, Canada. It also owns the Century Casino in Cape Girardeau and Caruthersville, Missouri, and the Mountaineer Casino, Racetrack & Resort in New Cumberland, West Virginia.