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Colorado Springs, Colorado, December 18, 2008 - Century Casinos, Inc. (NASDAQ Capital MarketŪ and Vienna Stock Exchange: CNTY) announced today that the new gaming law has been approved in Cripple Creek, Colorado, USA, on December 16, 2008.
With a vote of 267 to 13, in the Teller County town, 95% voted to raise betting limits from $5 to $100, add roulette and craps, and allow casinos to operate 24 hours per day, 7 days per week. This measure also requires a statewide vote on future gaming tax increases. The new law becomes effective on July 2, 2009.
"Since the introduction of the smoking ban in January and the current poor economic conditions in Colorado, casino revenues have been declining. With the approval of this expanded gaming law the casino market in Cripple Creek is expected to improve to the benefit of the State's economy", said Erwin Haitzmann and Peter Hoetzinger, Co CEOs of Century Casinos, Inc.
This local referendum approves the state constitutional Amendment 50 which was passed by the voters of Colorado in November. Colorado's remaining two gambling towns of Black Hawk and Central City will hold their municipal votes on January 13, 2009 and on January 20, 2009 respectively.
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 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 website at www.centurycasinos.com. Century Casinos' common stock trades on The NASDAQ Capital MarketŪ 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 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 filed on March 17, 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.
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