CC Gaming LLC announced it has entered into a definitive agreement with RCH Colorado LLC to purchase the 224,000 square foot Reserve Casino Hotel in Central City, Colorado, plus 40 adjacent acres that could be used for a convention center. The transaction will make CC Gaming the largest locally owned owner and operator of casinos in Colorado, with 286,000 total square feet of resort space. CC Gaming officials said the deal will close this spring, following approval from the Colorado Division of Gaming.
CC Gaming owner John Zimpel said, “Hotel rooms are at a premium in the Black Hawk/Central City gaming market. Adding nearly 120 rooms to our family of properties certainly expands our market offerings and is an opportunity to better serve our guests.”
The first hotel in Central City, Reserve Casino Hotel was built in 1994 for $80 million by Harvey’s Casino Resorts. It was remodeled in 2007, then by RCH Colorado in 2012. It offers 40,000 square feet of gaming with 1,200 gaming positions, plus a 119-room hotel, three restaurants, two bars, an entertainment facility and a 700-vehicle covered parking facility.
CC Gaming also owns and operates Johnny Z’s Casino, the company’s first Central City property that opened in 2011 and remains a market leader with 25 percent of its gaming positions. Opened in 2013 in the highly competitive Black Hawk market, CC Gaming’s Z Casino continues to increase gross gaming revenue year-over-year. In addition, CC Gaming’s Z Stop gas station and convenience store is one of the few between Denver and Black Hawk/Central City.
