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West Virginia approves Century Casinos' $107M purchase of Eldorado property

The West Virginia Lottery Commission has approved Century Casinos Inc.'s proposed acquisition of Eldorado Resorts Inc.'s Mountaineer Casino, Racetrack and Resort for $107.0 million, according to a Sept. 25 announcement.

Century Casinos agreed to buy the property from Eldorado in June. The Mountaineer is among the assets that Eldorado agreed to divest for total proceeds of $385 million in cash.

Mountaineer, which is located in New Cumberland, W.Va., is a hotel, casino, entertainment and live thoroughbred horse racing facility. It opened in 1951 and expanded to include a casino in 1994.

The property has a 357-room hotel, approximately 1,486 slot machines, 36 table games, a poker room, a racetrack and five dining venues.

The West Virginia Lottery Commission's approval is among the conditions precedent before the deal closes in early 2020. The deal is also subject to the approval of the Missouri Gaming Commission as well as other customary closing conditions.