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Subsidiary Century Casinos, Inc. announced that it entered into an amendment to the sale agreement for its South African subsidiary Century Casinos Africa (Pty) Limited. With the amendment, the buyer (Tsogo Sun Gaming (Pty) Limited) waived its rights under the material adverse event clause and agreed to close the sale on June 30, 2009, notwithstanding that the last and final regulatory approval (from the KwaZulu-Natal Gambling Board) has not yet been received. Upon closing of the sale on June 30, 2009, Century Casinos will receive a net cash amount of approx.
Once the approval of the KwaZulu-Natal Gambling Board has been obtained, an additional net cash amount of approx. ZAR 103 million (approx. $13 million) becomes payable to Century Casinos. About Century Casinos, Inc.: Century Casinos, Inc. is an international casino entertainment company that owns and operates the Womacks Casino and Hotel in Cripple Creek, Colorado, the Century Casino & Hotel in Central City, Colorado, and the Century Casino & Hotel in Edmonton, Alberta, Canada. The Company also operates casinos aboard five luxury cruise vessels (Silver Cloud, Regatta, Insignia, Nautica, Mein Schiff). Through its subsidiary Century Casinos Africa (Pty) Limited, it owns and operates The Caledon Hotel, Spa & Casino near Cape Town, South Africa, as well as 60% of, and provides technical casino services to, Century Casino Newcastle, in Newcastle, South Africa. Furthermore, the Company’s Austrian subsidiary, Century Casinos Europe GmbH, holds a 33.3% ownership interest in Casinos Poland Ltd, the owner and operator of seven full casinos and one slot casino in Poland. The Company continues to pursue other international projects in various stages of development.
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