Century Casinos sought wide exposure through Western Pacific Airlines logojet program. The Womacks logo was painted on a jet serving 18 cities in the western United States from Colorado Springs. The company cosponsored Ramblin’ Express buses with hourly departures from Colorado Springs to Cripple Creek. After approval from state regulators and Century Casinos’ board of directors, the merger came to completion the following March. In a $10 million, non-cash transaction, Century Casinos obtained 76 percent ownership of the company and assumed all management positions. The transaction was recorded as an acquisition of Alpine Gaming with Century Casinos Management becoming a subsidiary. The following June, Alpine Gaming took the name Century Casinos, Inc. and the Long Branch was renamed Legends. Century Casinos has entered into a definitive agreement to acquire the operations of the Nugget Casino Resort in Nevada and a 50% stake in the business that owns its property. The company made moves to expand into two new markets in 2017. In England, it purchased a small casino being developed in the city of Bath.
Featuring 21,000 square feet of casino space, 507 slot machines, nine table games, two dining venues, a 40,000 square foot pavilion and a 28-space RV park. A dockside casino featuring 41,500 square feet of casino space, 863 gaming machines, 20 table games, three dining venues, a pavilion and an entertainment center. Located in Cape Girardeau, Missouri, approximately 120 miles south of St. Louis, Missouri, overlooking the Mississippi river. With Womacks as a strategic stronghold and a reserve of funds from the company’s previous projects, Century Casinos sought international gaming opportunities. The company negotiated an early settlement with the Soboba Indians in 1998, receiving a final payment of $500,000 on the $2.5 million debt. When Switzerland County Development obtained a gaming license in September 1998, Century Casinos received a payment of $431,000. With groundbreaking in 1999, Century Casinos received an additional $1 million.
Does Century Casino & Hotel
Rhino Resort was granted a gaming license for the $40 million project, but in February 2002 another Gauteng gaming company, Tsogo Sun Holdings, appealed to the gaming authorities to revoke license. The courts overturned the licensure the following September. Century Casinos’ long-term development strategy for Cripple Creek progressed in 2001 and 2002. In early 2001, the company transformed the second floor of Womacks into ten luxury hotel rooms, completing construction in July for a total of 18 hotel rooms. The loss of gaming space was regained through a $2.5 million expansion project. Construction began in March 2002, adding 3,000 square feet to the casino for an overall increase in gaming space as the company added 60 new slot machines. Another 3,000 square feet provided space for back-of-the-house functions.
The $13.5 million price included $3 million in assumed debt and $5.2 million in seller financing, with the balance paid in cash. The company preserved the Womacks name and folded the Legends casino into it. After interior remodeling to link the adjacent properties and the addition of new gaming devices, Womacks became the second largest casino in Cripple Creek, with nearly 600 gaming devices. With $2 million in funds from private investors in Europe, Century Casinos Management, as the company was called originally, planned to develop a network of managed and owned casinos. Projects included an agreement to manage a gaming facility on the Soboba Indian Reservation near San Jacinto, California, and to develop riverboat casinos in Louisiana and Indiana. In September 1993, Century Casinos acquired out of foreclosure Terp’s Casino in Central City, Colorado, 30 miles west of Denver, for $1.45 million. Plans involved remodeling and renaming the property under the brand Legends. Century Casinos formed in late 1992 when five men brought their experience in the European gaming industry to the United States.
Mountaineer Casino, Racetrack & Resort
Providing ample parking in proximity to the property became a competitive issue which the company addressed through the strategic lease or purchase of open lots. Efforts to attract gamblers were successful as Womacks won several local awards from the Mountain Jackpot in November 1999. That year, Womacks generated $22.7 million in net operating revenue, a 19.4 percent increase over 1998. We have more than 70 million property reviews, and they’re all from real, verified guests. Cancellation and prepayment policies vary according to accommodation type. Please enter the dates of your stay and check the conditions of your required room.
Next, the company financed the development of the Century Downs Racetrack and Casino near Calgary, which it also managed from its opening in 2015. In October 2016, Century acquired the Apex Casino in St. Albert for $12.3 million, and then renamed it as Century Casino St. Albert. The expansion in Alberta continued in April 2019, when the company opened the Century Mile Racetrack and Casino in the Edmonton area. In 2006, the company opened a Century Casino & Hotel in Central City, Colorado and another property by the same name in Edmonton, Alberta.
Century Downs Racetrack and Casino
Century also shuffled its holdings in South Africa, acquiring a majority stake in the Monte Vista Casino in Newcastle and selling its interest in the Gauteng casino project. Century’s cruise ship casino business began in April 1994, when it began operating the casino on the Silver Cloud under a concession agreement with Silversea Cruises. Worldwide casino consulting ranging from design, equipment selection, operating policies and procedures to turn-key development. A highly recognized brand throughout Poland with eight casinos located in upscale hotels inter alia in Warsaw, Krakow and Wroclaw. The gaming, dining and events hot spot in the center of vibrant Central City, Colorado. Subject to approval from the Nevada Gaming Commission, Century will also purchase 100% of OpCo for $100.0m. This acquisition, Century said, is expected to meaningfully enhance its free cash flow, as well as be immediately accretive to earnings.
The Womacks acquisition impacted Century Casinos’ revenues significantly as the company increased its market share from 4.3 percent to 17.3 percent in Cripple Creek. In 1995, the company generated $4.2 million in net operating revenue from gaming, food and beverage sales, and hotel accommodations, less promotional allowances. In 1996, Century Casinos reported $11.5 million in net operating revenue with the addition of Womacks. In 1997, after one full year of ownership in Womacks, revenues reached $19.6 million with a net loss of $543,000. In its efforts to build a financial base for expansion, the company streamlined operations at Womacks for improved cost and operating efficiency. The pursuit of international gaming opportunities resulted in a management and consulting agreement with Rhodes Casino, S.A., a consortium of businesses, including Playboy Enterprises.
- Century Casinos relocated its offices to the new facility, freeing space at Womack for hotel rooms, food and beverage operations, and additional gaming.
- In 1995, the company generated $4.2 million in net operating revenue from gaming, food and beverage sales, and hotel accommodations, less promotional allowances.
- The company operates ten casinos in Colorado, Missouri, West Virginia, and Alberta.
- In its efforts to build a financial base for expansion, the company streamlined operations at Womacks for improved cost and operating efficiency.
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An exclusive 20-year service agreement provided Century Casinos with a fee based on gross revenues and a gaming equipment lease with pay based on a percentage of net profit. The casino opened in July 1999 with 15 gaming tables, 70 gaming machines, and a VIP gaming area. In April 2000, a Century Casinos joint venture obtained a gaming license for operations in Caledon, South Africa, the only license for the Overberg region and one of five in the province of Western Cape. Construction began immediately on the property, located near popular tourist areas along the coast east of Cape Town. By September, the main structure was completed and celebrated according to local tradition with a “roof-wetting” ceremony. The Caledon Casino, Hotel & Spa opened in October, offering 14 game tables and 250 slot machines. With a 50 percent ownership in the property, Century Casinos signed a ten-year management agreement with its local partner, Fortes-King Hospitality. Shifting of resources followed as Century Casinos sold its Central City property in June 1994 for $1.9 million in order to pursue opportunities elsewhere. This proved to be a wise decision as casino development in nearby Blackhawk eventually overshadowed Central City and attracted more gamblers. The company purchased the Ranch House Casino in Wells, Nevada, for $850,000. The 18,000-square-foot facility provided 6,000 square feet of gaming space.