COLORADO SPRINGS, Colo.,
July 2, 2018 /CNW/ -- Century
Casinos, Inc. (Nasdaq Capital Market®: CNTY) announced today that
its 66.6%-owned Polish subsidiary Casinos Poland Ltd. now holds a
total of eight casino licenses in Poland, as compared to seven a year ago.
After a rather turbulent few quarters where the official process
for the award of casino licenses came under criticism especially
for its late timing, which resulted in several casino closings
throughout Poland, lost gaming tax
revenue for the government and additional costs and expenses for
the operators, Casinos Poland has been awarded a total of eight
casino licenses in the following markets: Warsaw (3), Wroclaw (1), Katowice (1), Bielsko-Biala (1), Krakow (1)
and Lodz (1). Five casinos are already in operation, the Krakow
casino opens today and the third casino in Warsaw and the casino in Lodz will open next
month.
As reported previously, the results of the second quarter 2018
will be significantly impacted by the additional costs and expenses
associated with the temporary closure of several of the Company's
casinos in Poland.
"We are very pleased that the important license tenders in
Poland have now been completed and
we will soon operate a total of eight casinos in Poland," Erwin Haitzmann and Peter Hoetzinger,
Co-Chief Executive Officers of Century Casinos remarked. "The
Polish casino market continues to be robust and we look forward to
generating solid and sustainable returns going forward," they
continued.
About Century Casinos, Inc.:
Century Casinos, Inc. is
an international casino entertainment company that operates
worldwide. The Company owns and operates Century Casino &
Hotels in Cripple Creek and
Central City, Colorado, and in
Edmonton, Alberta, Canada and the
Century Casino in Calgary and in
St. Albert, Alberta, Canada and in
Bath, England. Through its
Austrian subsidiary, Century Resorts Management GmbH, formerly
Century Casinos Europe GmbH ("CRM"), the Company holds a 66.6%
ownership interest in Casinos Poland Ltd., the owner and operator
of six casinos in Poland. The
Company, through CRM, also holds 75% ownership interests in both
CDR, which operates in the north metropolitan area of Calgary, Alberta, Canada, and Century Bets!
Inc., which operates the pari-mutuel off-track horse betting
network in southern Alberta,
Canada. The Company, through CRM holds a 51% ownership
interest in Golden, a company that manages a hotel and
international entertainment and gaming club in Vietnam. The Company operates 13 ship-based
casinos with four cruise ship owners. The Company, through
CRM, also owns a 7.5% interest in, and provides consulting services
to, Mendoza Central Entretenimientos S.A., a company that provides
gaming-related services to Casino de Mendoza in Mendoza,
Argentina. The Company is also
developing Century Mile Racetrack and Casino in Edmonton, Alberta, Canada. The Company
continues to pursue other international projects in various stages
of development.
Century Casinos' common stock trades on The Nasdaq Capital
Market® under the symbol CNTY. For more information about Century
Casinos, visit our website at www.cnty.com.
This release may contain "forward-looking statements" within
the meaning of Section 27A of the Securities 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 future results of
operations, operating efficiencies, synergies and operational
performance, the prospects for and timing and costs of new
projects, projects in development and other opportunities,
including the Century Mile, Bermuda and Vietnam projects, debt
repayment, investments in joint ventures, outcomes of legal
proceedings, changes in our tax provisions or exposure to
additional income tax liabilities, 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, 2017 and in
subsequent periodic and current SEC filings we may make. 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.
View original content with
multimedia:http://www.prnewswire.com/news-releases/update-on-success-with-casino-licenses-in-poland-300675210.html
SOURCE Century Casinos, Inc.