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Century Casinos

(CNTY) - Get Report

is spiking Tuesday, after it agreed to purchase a casino operator in Canada for $10.7 million.

Century will acquire all outstanding common shares of Frank Sisson's Silver Dollar and 100% of the outstanding common stock of EGC Properties, owner and operator of Silver Dollar casino in Calgary, Alberta, Canada.

Silver Dollar is a 93,000-square-foot casino that includes 504 slot machines, 16 table games, 15 video lottery terminals, two restaurants, a lounge, a 5,000 square foot showroom, an 18,000 square foot convention center and a 38-lane bowling alley.

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The transaction is expected to close in the first quarter of 2010.

Shares of Century are gaining 8.6% to $2.40 in morning trading.

-- Reported by Jeanine Poggi in New York.

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