Century Casinos, Inc. announced that its 66.6%-owned Polish subsidiary Casinos Poland Ltd. now holds a total of eight casino licenses in Poland, as compared to seven a year ago.
After a rather turbulent few quarters where the official process for the award of casino licenses came under criticism especially for its late timing, which resulted in several casino closings throughout Poland, lost gaming tax revenue for the government and additional costs and expenses for the operators, Casinos Poland has been awarded a total of eight casino licenses in the following markets: Warsaw (3), Wroclaw (1), Katowice (1), Bielsko-Biala (1), Krakow (1) and Lodz (1). Five casinos are already in operation, the Krakow casino opens today and the third casino in Warsaw and the casino in Lodz will open next month.
“We are very pleased that the important licence tenders in Poland have now been completed and we will soon operate a total of eight casinos in Poland,” stated Erwin Haitzmann and Peter Hoetzinger, co-chief executive officers of Century Casinos. “The Polish casino market continues to be robust and we look forward to generating solid and sustainable returns going forward.”
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 and in St. Albert, Alberta, Canada and in Bath, England. Through its Austrian subsidiary, Century Resorts Management GmbH, formerly Century Casinos Europe GmbH (‘CRM’), the Company holds a 66.6% ownership interest in Casinos Poland Ltd., the owner and operator of six casinos in Poland. The Company, through CRM, also holds 75% ownership interests in both CDR, which operates in the north metropolitan area of Calgary, Alberta, Canada, and Century Bets! Inc., which operates the pari-mutuel off-track horse betting network in southern Alberta, Canada. The Company, through CRM holds a 51% ownership interest in Golden, a company that manages a hotel and international entertainment and gaming club in Vietnam. The Company operates 13 ship-based casinos with four cruise ship owners. The Company, through CRM, 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 is also developing Century Mile Racetrack and Casino in Edmonton, Alberta, Canada. The Company continues to pursue other international projects in various stages of development.
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