A Faegre Drinker team led by corporate partner Jeff Sherman advised Century Casinos in its acquisition of the operations of the Nugget Casino Resort from Marnell Gaming, LLC for approximately $100 million, expanding into Nevada.
Prior to the acquisition, in April 2022, Century Casinos purchased 50% of the membership interests in Smooth Bourbon, LLC from Marnell Gaming, which owns the land and building on which the Nugget Casino Resort is located. The Nugget Casino Resort and Smooth Bourbon have a lease agreement for the land and building at an annual rent of $15 million. Following the acquisition, Smooth Bourbon will be a consolidated subsidiary of Century Casinos.
Century Casinos was represented by a cross-office, cross-practice team of Faegre Drinker attorneys, including corporate partners Jeff Sherman, John Marcil, Kate Sherburne, Charles Bybee and Matthew Levy; corporate senior counsel Douglas Wright, counsel Andrea Leider and associates Steven Schwartz, Jennifer Lucas, Tyler Griffin and Allison Schten; real estate partner Gretchen Miller Busch and associate Ivy LeTourneau; construction and real estate litigation partner Jack Sperber; environment and energy partner Lynn Kornfeld; benefits and executive compensation partner Philip Gutwein; intellectual property partner Emily Bayton; labor and employment associate Erik Mosvick; and senior corporate paralegal RoxAnn Mack.
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.