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Subsequent Events | 6 Months Ended
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Jun. 30, 2023
Subsequent Events [Abstract] |
Subsequent Events | 15.SUBSEQUENT EVENTS The Company evaluated subsequent events and accounting and disclosure requirements related to material subsequent events in its condensed consolidated financial statements and related notes. On July 25, 2023, the Company completed its previously announced acquisition of the operations of Rocky Gap for an aggregate purchase price of approximately $61.2 million (subject to certain adjustments based on Rocky Gap’s working capital). The Rocky Gap Acquisition was financed with $30.0 million borrowed under the Revolving Facility and cash on hand. Rocky Gap did no t contribute any net operating revenue or net (loss) earnings attributable to Century Casinos, Inc. shareholders for the three and six months ended June 30, 2023. The Company is currently completing the fair value assessment of the acquired operations and, as such, the fair value of assets and liabilities of Rocky Gap that will be recognized has not been disclosed. The Company has incurred acquisition costs related to the Rocky Gap Acquisition of approximately less than $0.1 million and $0.1 million for the three and six months ended June 30, 2023, respectively. There were no acquisition costs related to the Rocky Gap Acquisition incurred for the three and six months ended June 30, 2022. The costs include legal and accounting fees and have been recorded as general and administrative expenses on the Company’s condensed consolidated statement of (loss) earnings. In connection with the Rocky Gap Acquisition on July 25, 2023, subsidiaries of the Company and VICI PropCo entered into an amendment to the Master Lease that (i) added Rocky Gap to the Master Lease, (ii) provided for an increase in initial annualized rent of approximately $15.5 million and (iii) extended the initial Master Lease term for 15 years from the date of the amendment (subject to the existing four five year renewal options). The Company is currently completing the fair value assessment of the acquired operations and, as such, adjustments to Rocky Gaps operating results based on the fair value of assets and liabilities of Rocky Gap as if the Rocky Gap Acquisition had occurred at the beginning of the earliest comparable period presented have not been disclosed. ‎

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483399/855-10-50-2 + Details
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