COLORADO SPRINGS, Colo., March 7, 2011 /PRNewswire/ -- Century Casinos, Inc. (NASDAQ Capital Market® and Vienna Stock Exchange: CNTY) announced today that the company applied for a Casino license in the Canton of Neuchatel ( Switzerland).
As one of four companies applying for the license, Century Casinos is participating in the tender procedure for this concession through its recently purchased 97%-owned subsidiary "Casino Les 3 Lacs SA". A decision by the Swiss government is expected in Q2 or Q3 of this year. There is no assurance that the company will be granted the concession by the Swiss government or, if granted, that the company will be able to successfully develop the casino property.
The company expects a total investment amount of approx. $30 million if the casino concession will be granted. The casino would be located at the busy intersection of highways 5 and 10, right at the exit of La Tene and next to the well-established Ibis Hotel. The newly built 21,000 square feet facility would include underground car parking and offer up to 250 slot machines and 18 gaming tables. Main cities like Neuchatel, Lausanne, Geneva and Bern are all within a driving range of less than 90 minutes.
About Century Casinos, Inc.:Century Casinos, Inc. is an international casino entertainment company that 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. The Company also operates casinos aboard twelve luxury cruise vessels (Regatta, Insignia, Nautica, Marina, Mein Schiff 1, Wind Surf, Wind Star, Wind Spirit, Seven Seas Voyager, Seven Seas Mariner, Seven Seas Navigator and Silver Cloud) and signed contracts for casinos on two additional ships (Oceania Cruises' Riviera and TUI Cruises' Mein Schiff 2) that are expected to start operations in the next months. Through its Austrian subsidiary, Century Casinos Europe GmbH, the Company holds a 33.3% ownership interest in Casinos Poland Ltd., the owner and operator of seven full casinos in Poland. The Company also manages the casino at the Radisson Aruba Resort, Casino & Spa in Aruba, Caribbean. Century Casinos, Inc. 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® 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, expected competition, the impact of new gaming laws, plans for our casinos and the impact of the 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 15, 2010. 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.
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