On Friday, Century Casinos (NASDAQ: CNTY) announced the opening of the Riverview Hotel at its gaming establishment of the same name in Cape Girardeau, Missouri.

The business said in 2021 that it was thinking about expanding its Cape Girardeau casino to include a hotel. By offering housing, the local gaming facility may become a more desirable travel destination and enable the operator to take full use of certain inherent geographic advantages. Southeast Missouri State University is located in the town, which is only 100 miles from St. Louis and 150 miles from Memphis.

"The Riverview is a 69 room, six-story building with 68,000 square feet that is adjacent to and connected with Century Casino Cape Girardeau. The project cost $30.5 million and was financed with cash on hand,” according to a statement issued by the Colorado-based regional casino operator.

A Caruthersville site bearing the same name serves as Century's other gaming location in Missouri.

Update for Century Casinos in Caruthersville

Missouri's final riverboat casino was Century Casinos Caruthersville. The Missouri Gaming Commission granted it permission to land in 2021.

The venue's $51.9 million in improvements was initiated by Century in late 2022 with funding provided by landlord VICI Properties (NYSE: VICI). 

“The company is also constructing a new land-based casino with a 38 room hotel in Caruthersville, Missouri,” according to the press release. “The project continues to be on time and on budget with an estimated project cost of $51.9 million. Construction started in December 2022 with completion expected in the fourth quarter of 2024.”

It's remarkable that the Caruthersville project was able to stay within budget and on schedule, especially in light of the fact that rising inflation and a shortage of workers have contributed to delays and increased prices at other local casino upgrades around the country.

Century Casinos to Continue Working with VICI

Another indication of Century's continued partnership with New York-based VICI, the biggest US owner of gaming real estate, is the Caruthersville project.

“Following completion, VICI will own the real estate improvements associated with the Caruthersville project, which will become a part of the Company’s triple net lease agreement with subsidiaries of VICI,” according to the statement. 

The real estate of the Cape Girardeau property is also owned by VICI. Century and VICI have been involved in the two casinos in Missouri for over three years; in 2019, the companies purchased the real estate and operating rights to those properties. 

In addition, VICI owns the real estate that Century operates at the Rocky Gap Casino Resort in Maryland and the Mountaineer Casino Racetrack and Resort in West Virginia.