Press Release: Century Casinos, Inc.
December 21, 2000
CRIPPLE CREEK, CO -- Century Casinos, Inc. (Nasdaq: CNTY) yesterday reported that, through a subsidiary, it has
completed its acquisition of an additional 15% of The Caledon Casino, Hotel and Spa -- raising its ownership of
the project to 65%. The company completed the transaction today after receiving all necessary approvals from the
Western Cape Gambling & Racing Board, investment banks, preferred shareholders and South African regulatory
authorities. Terms of the agreement included the payment of approximately $1.8 million U.S. Dollars by Century
to its partners in exchange for 15% of the total ordinary shares of the project (valued at approximately $1.2 million)
and a shareholder loan to the project previously held by its partners (with a value of approximately $600,000).
``We are very happy to increase our ownership in this project and look forward to what it can bring to us in 2001
and beyond,'' said Erwin Haitzmann, Chairman and CEO. ``Casino traffic has continued at a very strong pace since
the opening and we believe we have a significant head start on our nearest competing casino -- scheduled to open
today in Cape Town, approximately one hour from The Caledon.''
The Company also announced the completion of several ``first phase'' amenities including guest suite construction
and refurbishment in the 92-room hotel, completion of the conference facilities, an arcade games facility and a
new hotel pool area. Construction continues on the enhanced spa facilities that incorporate the historical mineral
hot springs on the 600+ acre site. The new amenities add to the recently completed 350 gaming position casino and
to the Outdoor Experience team building facility.
Zoning approval has already been secured for the anticipated future development of the resort to include a championship
golf course, 350 residential or time-share units, additional hotel accommodation and further retail facilities.
In addition to its 65% equity stake, the Company continues to operate the gaming facilities under a long-term management
contract.
For additional information on The Caledon Casino Resort & Spa, please visit www.caledoncasino.co.za.
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; owns (65%) and operates The Caledon Casino, Hotel & Spa near Cape Town, South Africa; has
a five-year casino concession to operate four casinos aboard the ultra-luxury Silversea cruise vessels (three of
which are currently operating); and manages the Millennium Casino in the new Marriott Hotel in Prague, Czech Republic.
Also, Century has been chosen by The World of ResidenSea as its exclusive casino concessionaire aboard a unique,
residence-based cruise vessel scheduled for completion in January, 2002. The Company continues to pursue other
international projects in various stages of development.
The address for the U.S. administrative offices 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 www.centurycasinos.com or listen to recent conference calls
and interviews at www.vcall.com. Century Casinos' common stock trades on The
Nasdaq Stock Market® under the symbol CNTY. For the latest online version of the Century Advisory newsletter,
please visit http://www.cnty.com/Century/index.htm.
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, 10-QSB and 8K. 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.
For further information please contact Chris Wrolstad, VP - Corporate Communications of Century Casinos, Inc.,
719-689-9100, cw@cnty.com.
SOURCE: Century Casinos, Inc.