{"id":1004128707,"date":"2015-10-05T05:43:07","date_gmt":"2015-10-05T13:43:07","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=362293"},"modified":"2022-12-08T21:53:38","modified_gmt":"2022-12-09T05:53:38","slug":"colorado-casino-sold-to-las-vegas-investor","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/colorado-casino-sold-to-las-vegas-investor\/","title":{"rendered":"Colorado Casino Sold to Las Vegas Investor"},"content":{"rendered":"

By Ioana Neamt, Associate Editor<\/em><\/p>\n

\"Bronco<\/a><\/p>\n

Bronco Billy’s Casino and Hotel<\/em><\/p>\n<\/div>\n

Full House Resorts<\/a> of Las Vegas is buying a casino close to Colorado Springs. The company announced it has entered into a definitive agreement with Topeka, Kan.-based Pioneer Group Inc.<\/a> to acquire Bronco Billy\u2019s Casino and Hotel in Cripple Creek, Colo., for approximately $30 million.<\/p>\n

Located at 233 E. Bennett Ave. about 44 miles of Colorado Springs, Bronco Billy\u2019s Casino features about 830 slot and video poker machines, 13 table games, a 24-key hotel, steakhouse, four casual dining outlets, as well as an outdoor amphitheater. The property was expanded in May this year, adding more slot machines, guest rooms, and additional surface parking to the site.<\/p>\n

The purchase is expected to be accretive to Full House Resorts. The $30 million price tag is subject to reduction to $28.5 million if the asset\u2019s Adjusted EBITDA falls below $4.7 million in certain periods prior to closing; Full House may terminate the purchase agreement without penalty, if the Adjusted EBITDA further falls below $4.5 million prior to closing.<\/p>\n

\u201cWhile there is no \u2018financing contingency\u2019 in the purchase agreement, we believe the Company\u2019s credit statistics, including the cost of the acquisition, will be within the norm for regional casino companies,\u201d Daniel Lee, president & CEO of Full House Resorts, said in a statement. \u201cWhile nothing is certain, our bankers have expressed confidence that the Company\u2019s debt can be refinanced, including the entire cost of the acquisition, on terms that are better than the cost of our existing debt.\u201d<\/p>\n

Gaming in the state of Colorado is limited to the three historic mining towns of Cripple Creek, Black Hawk, and Central City.<\/p>\n

Image courtesy of Bronco Billy\u2019s Casino and Hotel Facebook page<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

A Cripple Creek, Colo. casino and hotel asset has landed a new owner.<\/p>\n","protected":false},"author":192,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1587,21742],"tags":[682],"class_list":["post-1004128707","post","type-post","status-publish","format-standard","hentry","category-denver","category-latest","tag-news"],"acf":[],"yoast_head":"\nColorado Casino Sold to Las Vegas Investor - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/colorado-casino-sold-to-las-vegas-investor\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Colorado Casino Sold to Las Vegas Investor\" \/>\n<meta property=\"og:description\" content=\"A Cripple Creek, Colo. casino and hotel asset has landed a new owner.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/colorado-casino-sold-to-las-vegas-investor\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-10-05T13:43:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T05:53:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/09\/1548013_10152897164841212_458654514039691623_o.jpg\" \/>\n<meta name=\"author\" content=\"Ioana Neamt\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/colorado-casino-sold-to-las-vegas-investor\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/colorado-casino-sold-to-las-vegas-investor\\\/\"},\"author\":{\"name\":\"Ioana Neamt\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/993af2799cdaf5162633d320cf63ff16\"},\"headline\":\"Colorado Casino Sold to Las Vegas Investor\",\"datePublished\":\"2015-10-05T13:43:07+00:00\",\"dateModified\":\"2022-12-09T05:53:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/colorado-casino-sold-to-las-vegas-investor\\\/\"},\"wordCount\":292,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/colorado-casino-sold-to-las-vegas-investor\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/09\\\/1548013_10152897164841212_458654514039691623_o.jpg\",\"keywords\":[\"News\"],\"articleSection\":[\"Denver\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/colorado-casino-sold-to-las-vegas-investor\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/colorado-casino-sold-to-las-vegas-investor\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/colorado-casino-sold-to-las-vegas-investor\\\/\",\"name\":\"Colorado Casino Sold to Las Vegas Investor - 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