Century Casinos’ Canadian subsidiary, Century Resorts Alberta (CRA), has agreed to sell its Calgary property for CA$8
Century Casinos’ Canadian subsidiary, Century Resorts Alberta (CRA), has in agreement(p) to sell its Calgary prop for CA$8.1m (US$6.5m).
Real demesne firmly Rowanwood Financial Properties testament purchase the set down and building owned past Century Resorts inwards Canada’s thirdly most populous city.
In a statement, Century said CA$0.7m had already been paid, with the remaining CA$7.4m to be delivered upon closing, content to adjustments for attribute taxes and other relevant revenues and expenses.
This comes after CRA sold the cassino trading operations of Century Casino Calgary to 2267166 Alberta Ltd, an affiliate of New Star Capital, for CA$10m inward Dec 2020. CRA also leased the portion of the property containing the cassino premises to the purchaser.
However, Century Resorts continued to control Century Sports, a sports bar, bowling and entertainment readiness also located on the property. But upon closing, CRA will transfer of training the engage agreement to Rowanwood and cease operating Century Sports.
As a predominantly land-based operator, Century Casinos was hitting concentrated by Covid-19. The Colorado-based fellowship operates 10 properties inward Second Earl of Guilford America, with a direction on investing inwards and underdeveloped regional, mid-size casinos.
But it has been dependent to lockdowns and capacity limits — among other public health-related restrictions — since the start up of the pandemic.
In the same month that it sold its Alberta cassino trading operations to 2267166 Alberta Ltd, Century temporarily closed in(p) its properties inward the province. However, Century Casinos’ Q3 2021 results were positive, showing a 22% increase in revenue.
On 13 January 2022, Century’s gillyflower unsympathetic at US$11.35, continuing a in general downward for the month.