Century Casinos Obtains Approval of Western Cape Gambling and Racing Board for Sale of South African Casino Company



    COLORADO SPRINGS, Colo., June 8 /CNW/ -- Century Casinos, Inc. (Nasdaq:  
CNTY; Vienna Stock Exchange) announced today that the Western Cape Gambling
and Racing Board approved the sale of the company's South African subsidiary
Century Casinos Africa (Pty) Limited ("CCA"). Following the approvals already
given by the South African Reserve Bank and the South African Competition
Tribunal, this is the third of four regulatory approvals required for
finalizing the sale. The regulatory approval from the KwaZulu-Natal Gambling
Board is still outstanding.

    On December 19, 2008, a subsidiary of Century Casinos entered into an
agreement with Tsogo Sun Gaming (Pty) Limited to sell all of the outstanding
shares of CCA for a gross selling price of ZAR 460.0 million (approximately
$57 million) less the balance of third party South African debt and other
agreed to amounts. Net proceeds from the transaction are expected to be
approximately ZAR 357.3 million (approximately $44 million) and are payable at
closing.

    CCA 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.
    

    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 
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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