Maryland News

Rocky Gap Casino owner announces plans to sell for $260M

/ AP

CBS News Baltimore

BALTIMORE (AP) — Golden Entertainment Inc. announced plans Thursday to sell the Rocky Gap Casino Resort in western Maryland for $260 million.

The sale was announced during a meeting of the Maryland Lottery and Gaming Control Commission, news outlets report. Golden Entertainment officials didn't take questions from state regulators as the deal is pending. The deal is expected to close next year. Maryland regulators will have to sign off on the purchase and new operator.

Century Casinos will pay $56.1 million for the casino operations and real estate investor VICI Properties will pay $203.9 million for its interest in the land and buildings, under the deal.

The casino in Flintstone, Maryland, includes a 25,000-square-foot gaming floor, a 198-room hotel and five restaurants. Golden Entertainment recently invested around $10 million for casino improvements. It sits on 270 acres along Lake Habeeb and includes a golf course, a 5,000-square-foot events center and several outdoor activity sites.

In 2021, Rocky Gap had $78 million of net operating revenue and attracted more than a half million visitors.

© 2022 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.

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