The transaction is expected to close in Q2 2023<\/strong>.<\/p>\n<\/img><\/p>\n
Pursuant to the terms of the agreement, Century Casinos will acquire the operations of the property for $56.1 million<\/strong>; while VICI Properties will acquire land and buildings for $203.9 million. In its own Q3 report, Century Casinos said it is \u201cexcited\u201d to enter the Maryland market and to add the property to its growing US portfolio.<\/p>\nBreaking down results by segment, revenues for Nevada casino resorts were $98.9 million, down from $104.4 million in Q3 2021<\/strong>. As for Nevada locals casinos, revenues were slightly down from $38.1 million to $37.7 million; while Maryland revenue remained flat at $21.6 million.<\/p>\nDuring the quarter, Golden Entertainment repaid $25 million of term loan borrowings and increased stock buyback authorization to $75 million<\/strong>. As of September 30, the company had cash and cash equivalents of $177.7 million and short-term cash investments of $5 million.<\/p>\n<\/p><\/div>\n\n