COLORADO SPRINGS, Colo., Jan. 13 /PRNewswire-FirstCall/ -- Century Casinos, Inc. (Nasdaq and Vienna Stock Exchange: CNTY) announced today that the Company's Austrian subsidiary, Century Casinos Europe GmbH ("CCE"), completed the previously announced acquisition of 100% of the outstanding common stock of Frank Sisson's Silver Dollar Ltd. and 100% of the outstanding common stock of EGC Properties Ltd., the owner and operator of the Silver Dollar ("Silver Dollar") casino in Calgary, Alberta, Canada and the related land. At closing, CCE paid $9,5 million, which includes $9,650,000 less $150,000 for a working capital adjustment. CCE paid $1,000,000 towards the acquisition on November 6, 2009. No financing was required.
The Silver Dollar is a 93,000 square foot casino facility located on approximately seven acres of land in Calgary. The casino facility includes 504 slot machines, 16 table games, 15 video lottery terminals, two restaurants, a lounge, a 5,000 square foot showroom, an 18,000 square foot sports and entertainment center and a 38-lane bowling alley.
The Company intends to make significant improvements to the casino layout and interior design and plans to re-launch a new and competitive casino and entertainment facility under the "Century Casino" brand in the third quarter of this year.
About Century Casinos, Inc.:
Century Casinos, Inc. is an international casino entertainment company that owns and operates the Womacks Casino & Hotel in Cripple Creek, Colorado, the Century Casino & Hotel in Central City, Colorado, the Century Casino & Hotel in Edmonton, Canada and the Silver Dollar Casino in Calgary, Canada. The Company also operates casinos aboard five luxury cruise vessels (Silver Cloud, Regatta, Insignia, Nautica, Mein Schiff). Through its Austrian subsidiary, Century Casinos Europe GmbH, the Company holds a 33.3% ownership interest in Casinos Poland Ltd., the owner and operator of seven full casinos and one slot casino in Poland. 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 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 pending purchase of the Silver Dollar casino. 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 sections entitled "Risk Factors" under Item 1A in our Annual Report on Form 10-K filed on March 16, 2009. 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.