A Faegre Drinker team led by corporate partner Jeff Sherman advised Century Casinos in its definitive agreement to acquire the operations of Rocky Gap Casino Resort from Lakes Maryland Development, LLC for approximately $56 million.
Simultaneous with the closing of the transaction, an affiliate of VICI Properties Inc. will acquire the real estate assets for approximately $204 million. The transaction is expected to close mid-2023, subject to regulatory and governmental approvals and customary closing conditions.
Sherman was supported by a cross-office, cross-practice team of Faegre Drinker attorneys, including corporate senior counsel Doug Wright and partners John Marcil and Charles Bybee, real estate partner Dave Kuosman, benefits and executive compensation partner Phil Gutwein, energy and environment partner Lynn Kornfeld, intellectual property partners Rob Leonard and Emily Bayton, cybersecurity and data strategy partner Dori Cain, corporate associates Michael Grigsby and Jenn Lucas, labor and employment associate Erik Mosvick, intellectual property associate Maggie Naylor and corporate legal clerk Arsalan Memon.
Headquartered in Colorado Springs, CO, Century Casinos, Inc. is a North American casino entertainment company focused on investing in, developing and operating regional mid-size casinos in North America. Century Casinos has been listed on the Nasdaq Capital Market® under the symbol CNTY since 1994.
Read Century Casinos’ press release for more information on the deal.