Century Casinos Announces Closing Date of June 30, 2009 for the Sale of Its South African Subsidiary



    COLORADO SPRINGS, Colo., June 15 /CNW/ -- Century Casinos, Inc. (Nasdaq:  
CNTY; Vienna Stock Exchange) announced today that it entered into an amendment
to the sale agreement for its South African subsidiary Century Casinos Africa
(Pty) Limited. With the amendment, the buyer (Tsogo Sun Gaming (Pty) Limited)
waived its rights under the material adverse event clause and agreed to close
the sale on June 30, 2009, notwithstanding that the last and final regulatory
approval (from the KwaZulu-Natal Gambling Board) has not yet been received.

    Upon closing of the sale on June 30, 2009, Century Casinos will receive a
net cash amount of approx. ZAR 254 million (approx. $31 million). Once the
approval of the KwaZulu-Natal Gambling Board has been obtained, an additional
net cash amount of approx. ZAR 103 million (approx. $13 million) becomes
payable to Century Casinos.
    

    About Century Casinos, Inc.:
    
    Century Casinos, Inc. is an international casino entertainment company
that owns and operates the Womacks Casino and Hotel in Cripple Creek,
Colorado, the Century Casino & Hotel in Central City, Colorado, and the
Century Casino & Hotel in Edmonton, Alberta, Canada. The Company also operates
casinos aboard five luxury cruise vessels (Silver Cloud, Regatta, Insignia,
Nautica, Mein Schiff). Through its subsidiary Century Casinos Africa (Pty)
Limited, it owns and operates The Caledon Hotel, Spa & Casino near Cape Town,
South Africa, as well as 60% of, and provides technical casino services to,
Century Casino Newcastle, in Newcastle, South Africa. Furthermore, the
Company's Austrian subsidiary, Century Casinos Europe GmbH, holds a 33.3%
ownership interest in Casinos Poland Ltd, the owner and operator of seven full
casinos and one slot casino in Poland. The Company 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(R) and the Vienna Stock Exchange under the symbol CNTY.

    This release may contain "forward-looking statements" within the meaning
of 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 the proceeds
from and the closing of our sale of Century Casinos Africa, progress at and
plans for our casinos and the impact of economic downturn. 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
sections entitled "Risk Factors" under Item 1A in our Annual Report on Form
10-K filed on March 16, 2009. 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:

For further information: Peter Hoetzinger, Co CEO & President,
+1-719-689-5813, +43 664 355 3935, peter.hoetzinger@cnty.com, or Larry
Hannappel, Senior Vice President, +1-719-229-6448, larry.hannappel@cnty.com,
both of Century Casinos, Inc.  Web Site: http://www.centurycasinos.com


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