Century Casinos Announces Completion of Silver Dollar Casino Acquisition in Calgary, Alberta, Canada

by Century Casinos

Colorado Springs / United States / 2010-01-14 (GlobalGamingPR) - 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.

Category: casino / Financials