Century Casinos plans to open its new land-based casino and hotel in Caruthersville, Missouri, on November 1, 2024.
Century Casino & Hotel Caruthersville to Replace Riverboat Casino
This move comes after the Missouri Gaming Commission (MGC) gave its approval. The MGC’s go-ahead allows the company to move ahead with launching its upgraded casino. This new facility will take the place of the old riverboat-style casino. This change will bring about Missouri’s first land-based casino along the Mississippi River.
The upcoming Century Casino & Hotel Caruthersville plans to offer more gaming choices, with 599 slot machines and nine live table games. This means a 50% jump in gaming spots compared to the temporary pavilion location. The hotel will also grow doubling its rooms to 74.
VICI Properties put $51.9 million into this project. They will keep owning the property upgrades as part of their triple-net lease deal with Century Casinos. This agreement will boost the yearly rent by about $4.2 million strengthening Century’s financial standing.
A ribbon-cutting ceremony will kick off at 11:30 a.m. on November 1, with a weekend full of celebration events to follow. The festivities are going to feature live entertainment and food trucks, and visitors will be able to try their luck to win cash prizes in various giveaways adding up to $30,000. Besides gaming and hospitality options, Century Casino Caruthersville provides guests with year-round accommodation at The Farmstead or in its nearby RV park located along the picturesque Mississippi river.
Century Casinos Strengthens Missouri Presence Amid Economic Challenges
The Caruthersville expansion happens at a key moment for Century Casinos, which has been building up its foothold in Missouri since it bought the Caruthersville and Cape Girardeau sites in 2019. This year, Century Casinos added the Riverview Hotel to its Cape Girardeau spot showing how important Missouri is to its growth plans. The Caruthersville site sits within easy reach of both St. Louis and Memphis making it a good spot to draw in lots of visitors and boost its standing in the local market.
Century Casinos finished this project despite tough economic times, like high prices and not enough workers. The casino will now be part of Century Casinos’ group of gaming spots across North America. These include places in Colorado, Maryland, Nevada, West Virginia, and Alberta Canada. The company also runs six casinos in Poland.
Notably, Century Casinos’ Missouri sites are key to what the company hopes to do by 2025. Even though Century Casinos’ shares have gone down by more than 40% this year, experts think that recent money put into Missouri might make things better in the long run. Back in April, Century Casinos faced a stock dip following higher-than-expected inflation data, but Macquarie analyst Chad Beynonupgraded it to “outperform,” citing growth potential and a 53% upside with a $5 target price.