Century Casinos Reports Q2 2008 Earnings



    COLORADO SPRINGS, Colo., Aug. 11 /CNW/ -- Century Casinos, Inc. (Nasdaq:  
CNTY; Vienna Stock Exchange) reported today the financial results for the
three and six months ended June 30, 2008.
    
    Second Quarter 2008
    
    For the second quarter of 2008, net operating revenue was $21,546,000 and
consolidated Adjusted EBITDA(*) was $4,550,000. This represents a 5% decrease in
net operating revenue over the same quarter of last year ($22,673,000 in the
second quarter of 2007) and a 5% decrease in consolidated Adjusted EBITDA(*)
($4,784,000 in the second quarter of 2007). Declines in net operating revenue
at our properties in Colorado were partially offset by an increase in net
operating revenue at the Company's property in Edmonton.
    The Company reported net earnings of $835,000, or $0.04 per basic and
fully diluted share for the second quarter of 2008. Net earnings for the
second quarter of 2007 were $1,041,000, or $0.04 per fully diluted share
($0.05 per basic share).
    
    Six months ended June 30, 2008
    
    For the first six months of 2008, net operating revenue was $42,526,000
and consolidated Adjusted EBITDA(*) was $8,943,000. This represents a 3%
decrease in net operating revenue over the same period of last year
($43,734,000 in the first six months of 2007) and a 10% decrease in
consolidated Adjusted EBITDA(*) ($9,989,000 in the first six months of 2007).
Declines in net operating revenue at our properties in Colorado, particularly
at Womacks, and a decline in the average exchange rate between the U.S. dollar
and South African rand ("rand") were partially offset by an improvement in net
operating revenue at the Company's property in Edmonton.
    The Company reported net earnings of $1,376,000, or $0.06 per basic and
fully diluted share for the six months ended June 30, 2008. Net earnings for
the first six months of 2007 were $2,583,000, or $0.11 per basic and fully
diluted share.
    
    Property Results
    
    Century Casino & Hotel (Edmonton, Alberta, Canada) - Net operating
revenue at the Century Casino & Hotel in Edmonton increased 29% to $5,795,000
for the second quarter of 2008 compared to $4,480,000 for the second quarter
of 2007. Adjusted EBITDA(*) was $2,262,000 for the second quarter of 2008 and
$1,165,000 for the second quarter of 2007, an increase of 94%. In the second
half of 2007, the Company converted a dinner theater to a showroom venue that
has drawn better attendance. The Alberta Gaming and Liquor Commission
increased the number of slot machines at the casino from 600 to 650 in
September 2007. In addition, the Company introduced 24-hour poker at the
casino during the fourth quarter of 2007.  All of these factors have led to
additional play at the casino.
    Net operating revenue at the Century Casino & Hotel in Edmonton increased
32% to $11,352,000 for the six months ended June 30, 2008 compared to
$8,632,000 for the six months ended June 30, 2007. Adjusted EBITDA(*) was
$4,190,000 for the six months ended June 30, 2008 compared to $2,148,000 in
the same 2007 period, a 95% increase.
    Womacks Casino (Cripple Creek, Colorado, USA) - Net operating revenue at
Womacks Casino in Cripple Creek, Colorado decreased 36% to $2,859,000 for the
second quarter of 2008 from $4,440,000 for the second quarter of 2007.  Gaming
revenue in the Cripple Creek market as a whole declined 7.9% compared to a
35.4% decline at Womacks.  Management attributes this to a decline in consumer
discretionary income, increased fuel prices and a smoking ban that went into
effect on January 1, 2008. In addition, management believes that Womacks lost
a significant amount of its customers due to a renovation that began during
the fourth quarter of 2007 and continued through the first quarter of 2008.
Finally, in late May 2008, a new larger casino opened in Cripple Creek.  The
Company is reviewing strategies to improve revenue at Womacks. The Company has
replaced the property manager and reduced staffing levels at the casino.
Womacks' Adjusted EBITDA(*) for the second quarter of 2008 was $433,000 compared
to $1,679,000 in the second quarter of 2007. The decrease in Adjusted EBITDA(*)
is due to the decline in revenue, which management believes was a result of
the above mentioned factors.
    Womacks' net operating revenue was $5,741,000 for the six months ended
June 30, 2008 compared to $8,499,000 for the six months ended June 30, 2007.
Gaming revenue in the Cripple Creek market as a whole declined 10.2% compared
to a 30.2% decline at Womacks.  Womacks' Adjusted EBITDA(*) for the six months
ended June 30, 2008 was $712,000 compared to $2,972,000 in the same 2007
period. The decrease in Adjusted EBITDA(*) is primarily due to the decline in
revenue.
    Century Casino and Hotel (Central City, Colorado, USA) - Net operating
revenue at the Century Casino and Hotel decreased 9% to $4,617,000 for the
second quarter of 2008 compared to $5,060,000 reported for the second quarter
of 2007.  Adjusted EBITDA(*) for the second quarter of 2008 increased to
$1,216,000 compared to $1,078,000 in the second quarter of 2007. The increase
in Adjusted EBITDA(*) is primarily due to a decrease in general and
administrative expenses resulting from a property tax accrual adjustment in
the second quarter of 2007. Gaming revenue in the Central City market as a
whole decreased 15.7% compared to a decrease of 10.8% for the Century Casino
and Hotel.
    The Century Casino and Hotel's net operating revenue was $9,024,000 for
the six months ended June 30, 2008 compared to $9,575,000 for the six months
ended June 30, 2007, a decline of 5.8%. Gaming revenue in the Central City
market as a whole decreased 12.6% compared to a decrease of 7.7% for the
Century Casino and Hotel. The Century Casino and Hotel's Adjusted EBITDA(*) for
the six months ended June 30, 2008 was $2,051,000 compared to $2,133,000 in
the same 2007 period. The decrease in Adjusted EBITDA(*) is primarily due to the
decline in revenue.
    On December 31, 2007, the Company acquired the remaining 35% of all
issued and outstanding partnership units from the minority investor in its
casino in Central City, Colorado. The Company now recognizes the casino's net
income or losses at 100% going forward.
    The Caledon Hotel, Spa and Casino (Caledon, South Africa) - Net operating
revenue at the Caledon decreased 8% to $4,071,000 for the second quarter of
2008 compared to $4,414,000 reported for the second quarter of  2007,
primarily due to a decline in the average exchange rate between the U.S.
dollar and South Africa rand. Net operating revenue in rand increased to ZAR
31,603,000 for the second quarter of 2008 from ZAR 31,252,000 for the second
quarter of 2007. Our market share of the Western Cape gaming revenue declined
from 5.0% for the second quarter of 2007 to 4.7% for the second quarter of
2008. In June 2007, a competitor in Cape Town added 500 slot machines to its
gaming floor. This represents a 16% increase in gaming positions in the
Western Cape. The Caledon maintained net operating revenue at levels near 2007
despite the increase in gaming positions in the market, lower consumer
discretionary income resulting from increased interest rates and higher fuel
and food costs. The Caledon Hotel, Spa and Casino's Adjusted EBITDA(*) for the
second quarter of 2008 was $1,380,000 compared to $1,733,000 in the second
quarter of 2007. The decrease in Adjusted EBITDA(*) is primarily due to the
decline in the average exchange rate and in revenue.
    The Caledon Hotel, Spa and Casino's net operating revenue was $8,289,000
for the six months ended June 30, 2008 compared to $8,798,000 for the six
months ended June 30, 2007. The decrease is primarily due to the decline in
the average exchange rate between the U.S. dollar and rand. In rand, net
operating revenue was ZAR 63,312,000 for the six months ended June 30, 2008
compared to ZAR 62,694,000 for the six months ended June 30, 2007. Our market
share of the Western Cape gaming revenue declined from 5.0% for the six months
ended June 30, 2007 to 4.7% for the six months ended June 30, 2008. As
mentioned above, in June 2007, a competitor in Cape Town added 500 slot
machines to its gaming floor. This represents a 16% increase in gaming
positions in the Western Cape. The Caledon Hotel, Spa and Casino maintained
net operating revenue at levels near 2007 despite the increase in gaming
positions in the market, lower consumer discretionary income resulting from
increased interest rates and higher fuel and food costs. The Caledon Hotel,
Spa and Casino's Adjusted EBITDA(*) for the six months ended June 30, 2008 was
$2,884,000 compared to $3,249,000 in the same 2007 period. The decrease in
Adjusted EBITDA(*) is primarily due to the decline in the average exchange rate
and in revenue.
    Century Casino and Hotel (Newcastle, South Africa) - Net operating
revenue decreased 6% to $2,886,000 for the second quarter of 2008 compared to
$3,057,000 reported for the second quarter of 2007, primarily due to a decline
in the average exchange rate between the U.S. dollar and rand. Net operating
revenue in rand increased 3% to ZAR 22,395,000 for the second quarter of 2008
from ZAR 21,726,000 for the second quarter of 2007. The Century Casino and
Hotel's Adjusted EBITDA(*) for the second quarter of 2008 was $256,000 compared
to $246,000 for the second quarter of 2007.
    The Century Casino and Hotel's net operating revenue was $5,599,000 for
the six months ended June 30, 2008 compared to $5,710,000 for the six months
ended June 30, 2007. The decrease is primarily due to the decline in the
average exchange rate between the U.S. dollar and rand. In rand, the Century
Casino and Hotel's net operating revenue increased to ZAR 42,858,000 for the
six months ended June 30, 2008 from ZAR 40,900,000 for the six months ended
June 30, 2007. The Century Casino and Hotel's Adjusted EBITDA(*) for the six
months ended June 30, 2008 was $1,750,000 compared to $1,973,000 in the same
2007 period. The decrease in Adjusted EBITDA(*) is primarily due to the decline
in the average exchange rate.
    Other Operations - The Company's other operations, which include the
Century Casino Millennium in Prague and the Company's ship-based casinos,
contributed net operating revenue of $1,317,000 and Adjusted EBITDA(*) of
$111,000 for the second quarter of 2008 compared to net operating revenue of
$1,221,000 and Adjusted EBITDA(*) of $30,000 for the second quarter of 2007. The
increase in Adjusted EBITDA(*) is primarily due to improved ship-based
operations. These operations contributed net operating revenue of $2,518,000
and $2,513,000 for the six months ended June 30, 2008 and 2007, respectively
and contributed Adjusted EBITDA(*) of $179,000 and $273,000 for the six months
ended June 30, 2008 and 2007, respectively. The decline in Adjusted EBITDA(*) is
primarily due to increased general and administrative expenses at the Century
Casino Millennium.
    Corporate - Corporate operations reports negative Adjusted EBITDA(*) of
$1,703,000 for the second quarter of 2008 compared to negative Adjusted
EBITDA(*) of $2,030,000 for the second quarter of 2007. The increase in Adjusted
EBITDA(*) is primarily due to a decrease in general and administrative expenses
of $282,000.
    Corporate operations reports negative Adjusted EBITDA(*) of $2,823,000 for
the six months ended June 30, 2008 compared to negative Adjusted EBITDA(*) of
$2,759,000 for the six months ended June 30, 2007. The slight decrease in
Adjusted EBITDA(*) is due to a decrease in foreign currency gains recognized
period over period of $716,000, offset by decreased general and administrative
expenses of $151,000 and the recognition of an additional $494,000 of equity
earnings from our investment in Casinos Poland. We acquired a 33.3% interest
in Casinos Poland in March 2007.
    The Company will post a slide show presentation of the results of
operations for the second quarter of 2008 on its web site at
www.cnty.com/corporate/investor/presentations/ on Monday, August 11, 2008.
    On Monday, August 11, 2008, Century Casinos will host its Q2 2008
Earnings Conference Call, at 10:30am MDT; 6:30pm CEST respectively. US
domestic participants please dial +1-800-894-5910, all other international
participants please use +1-785-424-1052 to dial in. Participants may also
listen to the call live or obtain a recording of the call on our website at
www.cnty.com/corporate/investor/financial-results/.

    
    (*) See discussion and reconciliation of Adjusted EBITDA below.
    


    
     CENTURY CASINOS, INC. AND SUBSIDIARIES
     FINANCIAL INFORMATION - US GAAP BASIS
    


    
                            Century Casinos, Inc.
          Condensed Consolidated Statements of Earnings (Unaudited)
             (Amounts in thousands, except for share information)
    

    
                             For the Three Months       For the Six Months
                                 Ended June 30,            Ended June 30,
                               2008         2007         2008         2007
    Operating Revenue:
      Gaming                 $19,533      $21,489      $38,937      $41,378
      Hotel, food and
       beverage                3,388        2,979        6,661        5,846
      Other                      554          446        1,078          939
         Gross revenue        23,475       24,914       46,676       48,163
      Less promotional
       allowances              1,929        2,241        4,150        4,429
         Net operating
          revenue             21,546       22,673       42,526       43,734
    

    
    Operating Costs and Expenses:
      Gaming                   8,158        8,473       16,329       16,568
      Hotel, food and
       beverage                2,479        2,542        5,037        5,125
      General and
       administrative          6,778        6,984       13,572       12,785
      Impairments and other
       write-offs, net of
       recoveries                  -           40            -           25
      Depreciation             2,311        2,304        4,576        4,323
         Total operating costs
          and expenses        19,726       20,343       39,514       38,826
    Earnings from Equity
     Investment                   88           54          548           54
    Earnings from Operations   1,908        2,384        3,560        4,962
    

    
    Non-Operating Income (Expense):
    Interest income               56          443          125          717
    Interest expense          (1,336)      (1,699)      (2,909)      (3,631)
    Other income, net             (6)         (41)         179          787
      Non-operating (expense),
       net                    (1,286)      (1,297)      (2,605)      (2,127)
    Earnings before Income
     Taxes, Minority Interest
     and Preferred Dividends     622        1,087          955        2,835
       (Benefit) provision for
         income taxes           (332)         304         (704)         628
    Earnings before Minority
     Interest and Preferred
     Dividends                   954          783        1,659        2,207
       Minority interest in
        subsidiary losses, net   (69)         315         (180)         652
       Preferred dividends issued
        by subsidiary            (50)         (57)        (103)        (276)
    Net Earnings                $835       $1,041       $1,376       $2,583
    

    
    Earnings Per Share:
      Basic                    $0.04        $0.05        $0.06        $0.11
      Diluted                  $0.04        $0.04        $0.06        $0.11
    

    
    Weighted Average Shares
     Outstanding:
       Basic              23,468,243   23,051,067   23,386,540   23,039,429
       Diluted            23,568,223   23,887,922   23,602,966   23,935,403
    



    
     CENTURY CASINOS, INC. AND SUBSIDIARIES
     FINANCIAL INFORMATION - US GAAP BASIS
    


    
                            Century Casinos, Inc.
              Condensed Consolidated Balance Sheets (Unaudited)
                            (Amounts in thousands)
    

    
                                                   June 30,     December 31,
                                                     2008           2007
    Assets
       Current Assets                              $12,901        $21,109
       Other Assets                                171,799        176,974
       Total Assets                               $184,700       $198,083
    

    
    Liabilities and Shareholders' Equity
       Current Liabilities                         $20,600        $23,903
       Non-Current Liabilities                      51,151         62,191
       Shareholders' Equity                        112,949        111,989
       Total Liabilities and Shareholders'
        Equity                                    $184,700       $198,083
    



    
     CENTURY CASINOS, INC. AND SUBSIDIARIES
     SUPPLEMENTAL INFORMATION
    


    
                            Century Casinos, Inc.
                Net Operating Revenue by Property (Unaudited)
                            (Amounts in thousands)
    


    
                                For the Three Months       For the Six Months
                                   Ended June 30,             Ended June 30,
                                 2008          2007         2008         2007
    Century Casino & Hotel,
     Edmonton                   $5,795        $4,480      $11,352       $8,632
    Womacks Casino & Hotel,
     Cripple Creek               2,859         4,440        5,741        8,499
    Century Casino & Hotel,
     Central City                4,617         5,060        9,024        9,575
    Caledon Hotel, Spa & Casino  4,071         4,414        8,289        8,798
    Century Casino & Hotel,
     Newcastle                   2,886         3,057        5,599        5,710
    Century Casino Millennium
     & Cruise Ships              1,317         1,221        2,518        2,513
    Corporate                        1             1            3            7
    Consolidated net operating
     revenue                   $21,546       $22,673      $42,526      $43,734
    




    
                            Century Casinos, Inc.
              Adjusted EBITDA Margins(*)(*) by Property (Unaudited)
    

    
                                  For the Three Months      For the Six Months
                                     Ended June 30,            Ended June 30,
                                    2008         2007        2008         2007
    Century Casino & Hotel,
     Edmonton                       39%          26%          37%          25%
    Womacks Casino & Hotel,
     Cripple Creek                  15%          38%          12%          35%
    Century Casino & Hotel,
     Central City                   26%          21%          23%          22%
    Caledon Hotel, Spa & Casino     34%          39%          35%          37%
    Century Casino & Hotel,
     Newcastle                      29%          37%          31%          35%
    Century Casino Millennium &
     Cruise Ships                    8%           2%           7%          11%
    Corporate                        -            -            -            -
       Consolidated Adjusted
        EBITDA Margin(*)(*)             21%          21%          21%          23%
    



    
     CENTURY CASINOS, INC. AND SUBSIDIARIES
     SUPPLEMENTAL INFORMATION
    


    
                            Century Casinos, Inc.
          Reconciliation of Adjusted EBITDA(*) by Property (Unaudited)
                   For the Three Months Ended June 30, 2008
                            (Amounts in thousands)
    

    
                                                        Casino
                                                      Millennium
                      Cripple Central                 & Cruise
              Edmonton Creek   City   Caledon Newcastle Ships Corporate Total
    Net
     Earnings $1,099    $8    $(37)    $598    $ 256     $-   $(1,089)   $835
    Minority
     Interest      -     -       -        -       31      -        38      69
    Interest
     Income       (5)    -       -      (22)     (13)    (9)       (7)    (56)
    Interest
     Expense     351   (20)    532      147      214      -       112   1,336
    Income
     Taxes       455     7     (34)     286      137      5    (1,188)   (332)
    Depreciation 362   438     755      337      226    113        80   2,311
    

    
    Stock
     Compensation  -     -       -        -        -      -       349     349
    Loss on
     Disposition
     of Fixed
     Assets        -     -       -       34        -      2         2      38
    Adjusted
     EBITDA(*)  $2,262  $433  $1,216   $1,380    $ 851  $ 111   $(1,703) $4,550
    



    
                            Century Casinos, Inc.
          Reconciliation of Adjusted EBITDA(*) by Property (Unaudited)
                   For the Three Months Ended June 30, 2007
                            (Amounts in thousands)
                                                        Casino
                                                      Millennium
                      Cripple Central                 & Cruise
              Edmonton Creek   City   Caledon Newcastle Ships Corporate Total
    

    
    Net
     Earnings   $298   $793    $50     $782    $ 246  $(133)    $(995) $1,041
    Minority
     Interest      -      -   (452)       -       94      -        43    (315)
    Interest
     Income       (6)    (1)     -      (33)      (6)    (1)     (396)   (443)
    Interest
     Expense     346      1    729       183     185      -       255   1,699
    Income
     Taxes       188    490     30       453     156     (4)   (1,009)    304
    Depreciation 336    395    721       326     369    103        54   2,304
    Stock
     Compensation  -      -      -         -       -      -        15      15
    Impairments
     and other
     write-offs,
     net of
     recoveries    -      -      -        28       9      3         -      40
    (Gain) Loss
      on disposition
      of fixed
      assets       3      1      -        (6)      -     (1)        3       -
    Other          -      -      -         -      76     63         -     139
    Adjusted
     EBITDA(*)  $1,165 $1,679 $1,078    $1,733  $1,129    $30   $(2,030) $4,784
    



    
     CENTURY CASINOS, INC. AND SUBSIDIARIES
     SUPPLEMENTAL INFORMATION
    


    
                            Century Casinos, Inc.
          Reconciliation of Adjusted EBITDA(*) by Property (Unaudited)
                    For the Six Months Ended June 30, 2008
                            (Amounts in thousands)
    

    
                                                        Casino
                                                      Millennium
                      Cripple Central                 & Cruise
              Edmonton Creek   City   Caledon Newcastle Ships Corporate Total
    


    
    Net
     Earnings $1,933   $(57) $(414)   $1,333   $ 552  $ (34)  $(1,937) $1,376
    Minority
     Interest      -      -      -         -      97      -        83     180
    Interest
     Income      (15)     -      -       (41)    (29)   (17)      (23)   (125)
    Interest
     Expense     711    (48) 1,233       307     394      -       312   2,909
    Income
     Taxes       844    (34)  (277)      602     274      3    (2,116)   (704)
    Depreciation 717    861  1,509       649     462    223       155   4,576
    Stock
     Compensation  -      -      -         -       -      -       697     697
    (Gain) Loss
      on Disposition
      of Fixed
      Assets       -    (10)     -        34       -      4         6      34
    Adjusted
     EBITDA(*)  $4,190   $712 $2,051    $2,884  $1,750  $ 179   $(2,823) $8,943
    




    
                            Century Casinos, Inc.
          Reconciliation of Adjusted EBITDA(*) by Property (Unaudited)
                    For the Six Months Ended June 30, 2007
                            (Amounts in thousands)
    


    
                                                        Casino
                                                      Millennium
                      Cripple Central                 & Cruise
              Edmonton Creek   City   Caledon Newcastle Ships Corporate Total
    


    
    Net
     Earnings   $604 $1,347    $(5)   $1,379   $ 473   $ 31   $(1,246) $2,583
    Minority
     Interest      -      -   (925)        -     190      -        83    (652)
    Interest
     Income      (44)    (5)     -       (62)     (8)    (9)     (589)   (717)
    Interest
     Expense     658     18  1,655       369     369      -       562   3,631
    Income
     Taxes       320    827     (3)      897     295     (1)   (1,707)    628
    Depreciation 607    784  1,411       644     569    202       106   4,323
    Stock
     Compensation  -      -      -         -       -      -        29      29
    Impairments
     and other
     write-offs,
     net of
     recoveries    -      -      -        28       9    (12)        -      25
    (Gain) Loss
      on
      disposition
      of fixed
      assets       3      1      -       (6)       -     (1)        3       -
    Other          -      -      -        -       76     63         -     139
    Adjusted
     EBITDA(*)  $2,148 $2,972 $2,133   $3,249   $1,973   $273   $(2,759) $9,989
    



    
    CENTURY CASINOS, INC. AND SUBSIDIARIES
    SUPPLEMENTAL INFORMATION
    
    (*) The Company defines Adjusted EBITDA as earnings before interest, income
taxes, depreciation, amortization, minority interest, pre-opening expenses,
non-cash stock based compensation charges, asset impairment costs, gains
(losses) on disposition of fixed assets, discontinued operations and certain
other one-time items. Intercompany transactions consisting primarily of
management fees and interest, along with their related tax effects, are
excluded from the presentation of net earnings and Adjusted EBITDA reported
for each property.  These adjustments have no effect on the consolidated
results. Adjusted EBITDA is not considered a measure of performance recognized
under accounting principles generally accepted in the United States of
America. Management believes that Adjusted EBITDA is a valuable measure of the
relative performance among its operating segments. The gaming industry
commonly uses Adjusted EBITDA as a method of arriving at the economic value of
a casino operation. Management uses Adjusted EBITDA to compare the relative
operating performance of separate operating units by eliminating the above
mentioned items associated with the varying levels of capital expenditures for
infrastructure required to generate revenue, and the often high cost of
acquiring existing operations. EBITDA (Earnings before interest, taxes,
depreciation and amortization) is used by our lending institutions to gauge
operating performance. The Company's computation of Adjusted EBITDA may be
different from, and therefore may not be comparable to, similar measures used
by other companies. Not all of the aforementioned benefits and costs occur in
each reporting period, but have been included in the definition based on
historic activity.
    (*)(*) The Company defines Adjusted EBITDA margin as Adjusted EBITDA divided
by net operating revenue. Management uses this margin as one of several
measures to evaluate the efficiency of the Company's casino operations.
    
    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, the Century
Casino & Hotel in Edmonton, Alberta, Canada, and the Century Casino Millennium
in the Marriott Hotel in Prague, Czech Republic. The Company also operates
casinos aboard the Silver Cloud, The World of ResidenSea, and the vessels of
Oceania Cruises. 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 new 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.
    
    CENTURY CASINOS, INC. AND SUBSIDIARIES
    SUPPLEMENTAL INFORMATION
    
    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 revenue
growth, marketing efforts, progress at and plans for our casinos, gaming
market growth, the impact of improvements at our properties, the impact of the
Colorado law banning smoking in casinos and 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 17, 2008 and under Part II. Item 1A of our Quarterly Report on Form
10-Q filed on May 12, 2008. 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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