- 02.12.2014, 14:01:55
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- OTE0003
EANS-News: Century Casinos awarded license to operate off-track horse betting network throughout Southern Alberta, Canada
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
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Company Information
Colorado Springs, Colorado, December 2nd, 2014 - Century Casinos, Inc. (NASDAQ
Capital Market®: CNTY) announced today that a 75%-owned subsidiary has been
selected by Horse Racing Alberta ("HRA") to operate the pari-mutuel off-track
horse betting network in Southern Alberta starting in 2015.
HRA invited applicants to submit their proposals to operate the off-track
betting network in Alberta. After a thorough selection process, Century Casinos,
together with its 25%-partner with long-standing off-track betting network
experience, was awarded the license to operate the off-track betting network in
Southern Alberta, which includes Red Deer, Calgary, Lethbridge, Medicine Hat and
the rural OTBs in this area. HRA awarded a second license to Northlands Park out
of Edmonton, who will run the OTB network in Northern Alberta.
"This license will enable us to professionally develop and operate off-track
betting offerings throughout Southern Alberta" Erwin Haitzmann and Peter
Hoetzinger, the company's Co CEOs said. "It is an exciting time in the
pari-mutuel industry with various new technologies that will assist in growing
and servicing the Alberta off-track betting network", they continued.
HRA is a not-for-profit corporation, which reports to the Ministry of Finance
and Agriculture & Rural Development and is responsible for regulating the horse
racing industry in Alberta by authority of the Horse Racing Alberta Act.
About Century Casinos, Inc.:
Century Casinos, Inc. is an international casino entertainment company that
operates 30 casinos 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, Alberta, Canada. The Company also
operates casinos aboard 15 luxury cruise vessels (Regatta, Nautica, Insignia,
Marina, Riviera, Mein Schiff 1, Mein Schiff 2, Mein Schiff 3, Wind Surf, Wind
Star, Wind Spirit, Star Pride, Seven Seas Voyager, Seven Seas Mariner and Seven
Seas Navigator) and the casino on the cruise ferry Nova Star. Through its
Austrian subsidiary, Century Casinos Europe GmbH, the Company holds a 66.6%
ownership interest in Casinos Poland Ltd, the owner and operator of nine casinos
in Poland. The Company also manages the operations of the casino at the Radisson
Aruba Resort, Casino & Spa in Aruba, Caribbean. Also through its Austrian
subsidiary, the Company purchased a 7.5% interest in Mendoza Central
Entretenimientos S.A. ("MCE"), which currently leases approx. 600 slot machines
to Casino de Mendoza, Argentina. The Company and MCE have entered into a
consulting service agreement, pursuant to which the Company will provide advice
to MCE on casino matters. The Company is currently developing a project in the
north metropolitan area of Calgary, Alberta, Canada that will include a horse
race track and other gaming, restaurant and entertainment facilities. Century
Casinos, Inc. continues to pursue other international projects in various stages
of development.
For more information about Century Casinos, visit our website at
www.centurycasinos.com. Century Casinos' common stock trades on the NASDAQ
Capital Market® under the symbol CNTY.
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 (including results
for Casinos Poland, Ltd.), operating efficiencies, synergies and operational
performance, development of and the prospects for the REC project, debt
repayment 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, 2013.
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.
Further inquiry note:
Century Casinos Europe GmbH
Mag. Peter Hötzinger, CO-CEO
Tel.:0664/3553935
mailto:peter.hoetzinger@cnty.com
http://www.cnty.com
end of announcement euro adhoc
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company: Century Casinos,Inc. c/o Century Casinos Europe GmbH, Untere Viaduktgasse 2 A-1030 Wien phone: +43/664/3553935 FAX: +43/1/5336363 mail: peter.hoetzinger@cnty.com WWW: www.cnty.com sector: Casinos & Gambling ISIN: - indexes:
stockmarkets:
language: English
ORIGINAL APA-OTS TEXT - THE INFORMATION CONTAINED IN THIS PRESS RELEASE IS SUBJECT TO THE EXCLUSIVE RESPONSIBILITY OF THE ISSUER | CNE