As a company we strive to be community leaders and to add value through our products, services, social responsibility and sharing of our financial and human resources to achieve a positive impact on our employees, their families and our fellow citizens.
Our company has a great history of making meaningful contributions to charitable organizations both from a legislative and a good corporate citizenship point of view.
Century Casinos has developed numerous long standing partnerships with charitable organizations in all jurisdictions we operate in. These partnerships include or have included donations and sponsorships to charities as well as having charities as shareholders of our casino operations.
Legislative contributions to charitable organizations
In many countries, local gaming acts, rules and regulations require casino license applicants to demonstrate a commitment to support the local communities. The form of support can range from the payment of an annual lump sum to having charitable organizations as shareholders.
For example, in Edmonton, Alberta, Canada, where Century Casinos opened a casino and hotel resort in 2006, The Alberta Gaming and Liquor Commission ("AGLC") grants gaming licenses only to eligible charitable or religious groups. A charitable or religious group is eligible for a license to conduct gaming activities if the group actively delivers a program or service, which provides a benefit to a significant segment of the community. Once the casino is operative, the host charitable organization receives a certain percentage of the net win from table games, which are purchased and operated by the casino operator. Casino slot machines are purchased and owned by the AGLC. The AGLC determines the number and mix of machines installed and is responsible for all costs directly associated with the operation of the slot machines and their maintenance. Both, the host casino and the host charity receive a certain percentage of the gross slot revenue.
In addition to the legislative requirements, Century Casinos' management commits to supporting the local communities with their requests and needs in an effort to improve the lives of all people in these communities. The company strives to be fair-handed with the disbursement of contributions to charitable and non-profit organizations.
In 2010, our casinos paid approximately $100,000,000.00 in fees, taxes and contributions to governmental authorities, supporting the poor and needy, cultural and historical initiatives, sports, health systems as well as programs for the youth and senior citizens.
Century Casinos' management is confident that through working with charitable organizations we are able to make a positive difference to the lives of people living in the communities we have operations in.