Century Casinos Enters into Definitive Agreement to Sell Casino Operations of Century Casino Calgary
Retrieved on:
Wednesday, August 5, 2020
The Agreement contemplates that CRA will enter into a lease agreement with the Buyer for the Calgary premises.
Key Points:
- The Agreement contemplates that CRA will enter into a lease agreement with the Buyer for the Calgary premises.
- "This transaction immediately strengthens our balance sheet," Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos remarked.
- "The Calgary casino is one of our smaller operations, contributing $8.4 million in net operating revenue and $1.2 million in Adjusted EBITDA (approx.
- half from the casino operations we are selling and half from sports bar, bowling and entertainment operations we will continue operating) in 2019," Haitzmann and Hoetzinger concluded.