New Gaming Law in Poland Expected to Restructure Polish Gaming Market


    




    
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<p><location>COLORADO SPRINGS</location>, Colo., <chron>Dec. 11</chron> /CNW/ -- Century Casinos, Inc. (Nasdaq:   CNTY; <location>Vienna</location> Stock Exchange: CNTY) announced today that a new Polish Gaming Law has been established that is expected to substantially reorganize and restructure the gaming market in <location>Poland</location> from <chron>January 1, 2010</chron>. Century Casinos holds a one-third ownership interest in Casinos <location>Poland</location> Ltd., who is operating seven full casinos and one slot arcade in <location>Poland</location>.</p>
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<p>Under the new legislation, all licenses for slot arcades and low-wager betting machines outside casinos will be phased out. Within the next six years, approximately 250 slot arcades, operating approx. 10,000 slot machines, as well as all low denomination slot machines will disappear from the market due to the expiration of the underlying licenses. The operation of slot machines  will be permitted in casinos only (up to 70 slot machines per casino).</p>
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<p>The new law also introduces strict new six-year state licenses for casinos, higher gaming taxes (50% instead of currently 45%) as well as higher fees for the gaming sector. Except for duly organized poker tournaments, poker cash games will be prohibited.</p>
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<p>With regard to the legislation process and content of the new law, Poland's constitutional court is now to rule whether the newly adopted law is "in line with the constitution". Therefore, future amendments or a suspension of the new law are considered to be theoretically possible.</p>
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    About Century Casinos, Inc.:
    
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<p>Century Casinos, Inc. is an international casino entertainment company that owns and operates the Womacks Casino & Hotel in Cripple Creek, Colorado, the Century Casino & Hotel in Central City, Colorado, and the Century Casino & Hotel in <location>Edmonton</location>, <location>Canada</location>. The Company also operates casinos aboard five luxury cruise vessels (Silver Cloud, Regatta, Insignia, Nautica, Mein Schiff). Through its Austrian subsidiary, Century Casinos <location>Europe</location> GmbH, the Company holds a 33.3% ownership interest in Casinos <location>Poland</location> Ltd., the owner and operator of seven full casinos and one slot casino in <location>Poland</location>. Century Casinos, Inc. continues to pursue other international projects in various stages of development.</p>
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<p>For more information about Century Casinos, visit our website at <a href="http://www.centurycasinos.com">www.centurycasinos.com</a>. Century Casinos' common stock trades on The NASDAQ Capital Market® and the <location>Vienna</location> Stock Exchange under the symbol CNTY.</p>
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<p>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 our sale of Century Casinos <location>Africa</location>, 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 <chron>March 16, 2009</chron>. 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.</p>
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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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