Century Casinos, Inc Acquires Hotel In Flintstone, MD For $56M

The hotel located at 16701 Lakeview Rd NE in Flintstone, MD was recently sold in a transaction on August 26, 2022. The property was purchased by Century Casinos, Inc from Lakes Maryland Development, LLC. The sale price for this transaction amounted to $56,000,000. The hotel has a total of 198 rooms, and the price per key (PPK) was calculated at $282,828.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $56,000,000
• Address: 16701 Lakeview Rd NE, Flintstone, MD
• Market: Flintstone, MD
• Buyer: Century Casinos, Inc
• Seller: Lakes Maryland Development, LLC
• Number of Keys: 198
• Price Per Key (PPK): $282,828

Century Casinos, Inc emerges as the successful buyer in this hotel acquisition, while Lakes Maryland Development, LLC takes on the role of the seller. This transaction marks a significant investment in the hospitality sector, showcasing the value and potential of the property. The transaction demonstrates the continued interest and activity in the real estate market in Flintstone, MD.