Century Casinos Opens Ship-based Casino for Chinese Market
Jul 14, 2016, 09:00 ET
COLORADO SPRINGS, Colo., July 14, 2016 /CNW/ -- Century Casinos, Inc. (NASDAQ Capital Market®: CNTY) announced the successful opening of the casino onboard the Glory Sea of Diamond Cruise International Co., Ltd. on it's maiden voyage from Shanghai, China to Shimonoseki, Japan.
The Glory Sea has a capacity of over 1,200 passengers and will focus on the Chinese cruise market with four-day trips between China, South Korea and Japan. The state-of-the-art casino features an initial gaming mix of 40 slot machines as well as 16 live gaming tables (including Baccarat, Black Jack, Three Card Poker, American Roulette and Sic Bo).
The casino will cater to regular cruise passengers as well as VIP players provided by junket operators.
Diamond Cruise International, a subsidiary of travel conglomerate Suzhou Taihu International Travel Agency, intends, in the next five years, to acquire an additional three to four ships in an effort to compete for supremacy in the fast-growing Chinese cruise market.
"We are excited to enter the Asian gaming market and to increase our position as the world-wide leader in operating casinos on cruise vessels through a long-term agreement with Diamond Cruise International. This is a very cost-effective way for our company to gain a foothold in the lucrative Chinese market and certainly has the potential to grow our ship-based casino segment to a very meaningful size", remarked Century Casinos' Co CEOs Erwin Haitzmann and Peter Hoetzinger.
About Century Casinos, Inc.:
Century Casinos, Inc. is an international casino entertainment company that operates 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. Through its Austrian subsidiary, Century Casinos Europe GmbH ("CCE"), the Company holds a 66.6% ownership interest in Casinos Poland Ltd., the owner and operator of nine casinos in Poland. The Company, through CCE, also holds a 75% ownership interest in both Century Downs Racetrack and Casino, which began operations in the north metropolitan area of Calgary, Alberta, Canada in April 2015, and Century Bets!, which began operating the pari-mutuel off-track horse betting network in Southern Alberta, Canada in May 2015. The Company operates thirteen ship-based casinos onboard ships of TUI Cruises, Thomson Cruises and Windstar Cruises. The Company manages the operations of the casino at the Hilton Aruba Caribbean Resort and Casino. The Company, through CCE, also owns a 7.5% interest in, and provides consulting services to, Mendoza Central Entretenimientos S.A., a company that provides gaming-related services to Casino de Mendoza in Mendoza, Argentina. The Company continues to pursue other international projects in various stages of development.
For more information about Century Casinos, visit our website at www.cnty.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, operating efficiencies, synergies and operational performance, the prospects for the Apex Casino and other projects, debt repayment, investments in joint ventures, outcomes of legal proceedings 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, 2015 and in subsequent Form 10-Q filings. 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.
SOURCE Century Casinos, Inc.
For further information: Peter Hoetzinger, Co CEO & President, +1 719 689 5813, +43 664 355 3935, [email protected], http://www.cnty.com
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