Company Press Release: Century Casinos, Inc.
March 2, 2000
CRIPPLE CREEK, CO -- Century Casinos, Inc. (Nasdaq: CNTY) yesterday announced that it has purchased a strategic
property near its Womacks Casino in Cripple Creek, CO and close to the Womacks Center, an events center that the
Company is currently developing (as announced on February 17, 2000). The property is zoned for gaming and will
be used in the near term for Womacks Casino parking, thereby increasing the number of parking spaces controlled
by the Company by 9%. This acquisition increases the amount of gaming-zoned land controlled by the Company to 106,250
square feet. Womacks Casino is one of only two casino owners in Cripple Creek offering more than 250 parking spaces
within close proximity to their respective operations. The purchase was completed on February 29, 2000 at a price
of $140,000.
``This purchase is another one in a series of land acquisitions that we started in 1996, when we controlled only
6,250 of what has now grown to 106,250 square feet of Cripple Creek land zoned for gaming,'' said Chairman and
CEO Erwin Haitzmann. ``By developing new and therefore more parking at its own expense, Womacks Casino makes a
further contribution to the improvement of Cripple Creek's infrastructure. The lack of sufficient quality, close
proximity parking during peak times has long been a concern in Cripple Creek.''
In the short term, the new property will be used for Womacks Casino parking. After completion of the Womacks Center
-- an events center that according to an agreement with the City of Cripple Creek will be operated, promoted and
marketed by the City -- the property will also be used as additional events center parking. With this acquisition,
the Company now owns enough land directly adjacent to Womacks Center to more than double the size of the facility,
should the demand arise.
Recently, close proximity parking has become an important issue in Cripple Creek's competitive market. While Cripple
Creek gaming revenues grew at a rate of 8% for the first 9 months of 1999 as compared to the same period in 1998,
Womacks Casino managed to grow its gaming revenues by 18% over the same time period, further establishing itself
as a market leader in Cripple Creek. The Company believes that its strategy to provide increasingly more close-in
parking has been one reason for its progressive success in Cripple Creek.
About Century Casinos, Inc.
Century Casinos is an international casino company led by a team of gaming industry professionals who have developed
and operated more than 100 casinos in 25 different countries. The Company owns and operates Womacks Casino in Cripple
Creek, Colorado and manages the Millennium Casino in Prague, Czech Republic, located in Prague's new Marriott Hotel.
The Company is currently pursuing other international projects including a casino development in Caledon (a hot
springs/spa resort), South Africa, located one driving hour east of Cape Town, where the Company has recently received
successful applicant status. The address for corporate headquarters is 200 E. Bennett Ave (P.O. Box 1006), Cripple
Creek, CO 80813. Telephone: (719) 689-9100. Fax: (719) 689-9700. For more information about Century Casinos, visit
the Company's web site at http://www.cnty.com. Century Casinos' common stock
trades on The Nasdaq Stock Market® under the symbol CNTY.
This release may contain forward-looking statements that involve risks and uncertainties. Among the other important
factors which could cause actual results to differ materially from those in the forward-looking statements are
economic, competitive, and governmental factors affecting the company's operations, markets, services and prices,
as well as other factors detailed in the Company's filings with the Securities and Exchange Commission, including
its recent filings on Forms 10-KSB and 10-QSB. 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.