Century Casinos Announces New Agreement with Nova Star Cruises
COLORADO SPRINGS, Colo., Feb. 27, 2014 /PRNewswire/ -- Century Casinos, Inc. (NASDAQ Capital Market® and Vienna Stock Exchange: CNTY) announced today that the company and Nova Star Cruises Ltd. signed an exclusive agreement about casino operations on board the Nova Star.
Nova Star Cruises will operate a round trip cruise ferry service connecting Portland, Maine and Yarmouth, Nova Scotia, providing a high level of comfort and entertainment on this ferry route, which is scheduled to start May 1, 2014. The project has the full support of the Province of Nova Scotia, which pledged roughly USD 20 million over seven years to restart the Maine – Nova Scotia cruise ferry service.
Singapore Technologies Marine Ltd., a wholly owned subsidiary of Singapore Technologies Engineering Ltd, an integrated engineering group headquartered in Singapore and listed on the Singapore stock exchange under the symbol SGX, built and owns the vessel and is also a 10% shareholder in Nova Star Cruises.
The brand new Nova Star has a capacity of 1,215 passengers and 336 vehicles. With a wealth of amenities and entertainment options onboard (luxury cabins, fine dining, casino, showroom, duty free shopping, conference center, spa & fitness, art gallery), Nova Star is the ideal vessel to meet the needs of a large number of passengers during the ten-hour crossing between Yarmouth and Portland, by providing a comfortable, highly appealing travel experience for all ages and types of travelers. Century will fully equip and operate the casino with 70 state of the art slot machines, live and electronic table games, slot accounting and surveillance systems and furniture, fixtures, and fittings. The initial term of the casino concession agreement will run until October 2020.
Commenting on the news, the Company's Co CEOs Erwin Haitzmann and Peter Hoetzinger remarked: "We are thrilled about the opportunity to run the casino on board the Nova Star. We believe that the casino will be a popular amenity on board the vessel leading to good returns for both Nova Star Cruises as well as Century. This will further solidify Century's position as the world-wide market leader in operating casinos on cruise vessels."
About Century Casinos, Inc.:
Century Casinos, Inc. is an international casino entertainment company that owns and operates Century Casino & Hotels in Cripple Creek and Central City, Colorado, and in Edmonton, Alberta, Canada and the Century Casino in Calgary, Alberta, Canada. The Company also operates casinos aboard twelve luxury cruise vessels (Regatta, Nautica, Marina, Riviera, Mein Schiff 1, Mein Schiff 2, Wind Surf, Wind Star, Wind Spirit, Seven Seas Voyager, Seven Seas Mariner and Seven Seas Navigator). Through its Austrian subsidiary, Century Casinos Europe GmbH, the Company holds a 66.6% ownership interest in Casinos Poland Ltd, the owner and operator of nine casinos in Poland. The Company also manages the operations of the casino at the Radisson Aruba Resort, Casino & Spa in Aruba, Caribbean. Century Casinos, Inc. continues to pursue other international projects in various stages of development.
For more information about Century Casinos, visit our website at www.centurycasinos.com. Century Casinos' common stock trades on The NASDAQ Capital Market® and the Vienna Stock Exchange under the symbol CNTY.
This release may contain "forward-looking statements" within the meaning of Section 27A of the Security Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and assumptions of the management of Century Casinos based on information currently available to management. Such forward-looking statements include, but are not limited to, statements regarding the REC project and financing, timing and prospectus for the project, future results of operations, operating efficiencies, synergies and operational performance, and plans for our casinos and our Company. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from the forward-looking statements include, among others, the risks described in the section entitled "Risk Factors" under Item 1A in our Annual Report on Form 10-K for the year ended December 31, 2012. Century Casinos disclaims any obligation to revise or update any forward-looking statement that may be made from time to time by it or on its behalf.
SOURCE Century Casinos, Inc.