Deal Type: Acquisition
Deal Sub Type: 100% Acquisition
Deal Status: Announced
Deal Value: 22.2955 Million USD
Deal in Brief
Century Casinos, Inc., a casino entertainment company that owns and operates casinos based in the US, has entered into a share purchase agreement to acquire 100% stake in Game Plan Developments Ltd. (GPD), Casino St. Albert Inc. (CSA) and Action ATM Inc. (AAI) from 851896 Alberta Ltd for a consideration of CAD29.9 million (USD22.98 million). GPD, CSA, and 851896 Alberta are based in Canada.
Game Plan Developments is the owner and operator of casinos and Casino St. Albert is an amusement and recreation company, while Action ATM is a full service provider of ATM systems based in the US.
Century Casinos Europe GmbH (CCE) is a subsidiary of Century Casinos.
851896 Alberta and GPD collectively owns and operates Apex Casino.
Apex Casino features include 382 slot machines, 11 live table games, a restaurant, a bar, a lounge and a banquet facility located in St. Albert, Alberta, Canada.
As part of the transaction, Century Casinos will acquire the Apex Casino operations for CAD15.9 million (USD12.22 million) and its real estate assets for CAD12 million (USD9.22 million) estimated at CAD2 million USD1.53 million) which will be retained by CCE.
In addition, Century Casinos also agreed to acquire 100% stake in MVP Sports Bar Ltd, which is owned by GPD.
The transaction is subject to regulatory approvals and is expected to be closed in the fourth quarter of 2016.
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