Vici Properties to Develop Missouri Casino

Casino property developer Vici Properties announced this week that it has partnered with Century Casinos to develop a new land casino in the state of Missouri, replacing the Century Casino Caruthersville riverboat.

The new site will have a total of 650 slot machines, with the possibility of expanding with an additional 160 machines. There'll also be table games, a bar, a deli, and a 38-room hotel built adjacent to the site.

The project is estimated to cost about $51.9 million, which gained preliminary approval at a December 2021 meeting of the state's Gaming Commission. Rent will come via a master lease, totaling in at $4.2 million.

The announcement comes after Vici came to a purchase agreement with Golden Entertainment to buy the Maryland-based Rocky Gap Casino Resort for $260 million. The company also agreed to purchase the remaining shares of the joint venture it has with Blackstone Real Estate Income Trust in the Mandalay Bay Resort and MGM Grand Las Vegas for $1.27 billion in cash.

Regarding the development project, Vici president John Payne said, "Since we jointly acquired three regional assets in 2019, the Century team has significantly enhanced performance at the properties by fine-tuning operations and focusing intently on customer satisfaction.

"Our team has collaborated with Century to structure a transaction that greatly enhances the long-term value of the property in Caruthersville, provides Century with balance sheet flexibility and allows VICI to invest free cash flow, growing our AFFO without the need for external funding."

No time frame for a groundbreaking or opening date of the casino was made available to the press.

About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.

Comments

Post new comment

There are currently no comments on this page. Be the first!

Login using your social network account
Or log in with a Casino Listings account

Login or register to post comments

Registering for an account takes less than a minute and you will be brought right back here to comment afterwards.