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CRIPPLE CREEK, Colo., July 9, 1999 - Century Casinos,
Inc. (Nasdaq: CNTY) today announced the opening of a new casino -- the
Millennium Casino -- in Prague, the capital city of the Czech Republic.
Century Casinos has an exclusive 20-year contract to manage all operations
of the casino and to lease equipment to Casino Millennium a.s., a Czech
company which holds the casino license. Century will be paid management
fees based on the total revenues of the casino, and will receive equipment
lease fees based on a percentage of net
profits. The casino officially opened on Wednesday, July 7, 1999 and the company expects to promote a grand opening celebration in the third quarter of this year. The Millennium Casino is located in the heart of Prague -- a beautiful,
economically thriving European city -- and is only a short walk east of
Prague's Old Town Square. The casino is part of the Millennium Plaza complex,
owned and developed by a wholly-owned subsidiary of Bau Holding a.g. --
one of the largest construction and development companies in Europe. The
development includes a new, 300-room 5-star Marriott Hotel, an office complex,
retail shops and a fitness center. The complex also has direct access to
the public subway system and is
The new casino offers 15 gaming tables and 70 machines, a VIP gaming area, large screen TV's and Food Beverage service. The Millennium Casino also has the flexibility to expand into adjacent space thereby allowing the Company to increase the number of gaming tables and machines, if so desired. The Millennium Casino is the only casino in the Prague metro area with such advantages and is the largest casino in the Prague market. "We are very pleased to announce the opening of the Millennium Casino," said Century Casinos' Chairman and CEO Erwin Haitzmann. "We look forward to introducing gaming technologies new to the Czech market such as electronic player tracking and innovative, state-of-the art gaming devices. We believe these advances will position Century as a technology leader in the European gaming marketplace and should assist us in developing key relationships as we continue to explore additional international casino opportunities." About Century Casinos, Inc. Century Casinos is an international casino company led by a team of gaming industry professionals who have developed and operated more than 100 casinos in 25 different countries. The company owns and operates the Womacks Casino in Cripple Creek, Colorado, and is currently pursuing other international projects in various stages of development. The address for corporate headquarters is Century Casinos, Inc., 200 E. Bennett Ave (PO Box 373), Cripple Creek, CO 80813. Telephone: (719) 689-9100. Fax: (719) 689-9700. This release may contain forward-looking statements that involve risks
and uncertainties. Among the other important factors which could cause
actual results to differ materially from those in the forward-looking statements
are economic, competitive, and governmental factors affecting the company's
operations, markets, services and prices, as well as other factors detailed
in the company's filings with the Securities and Exchange Commission, including
its recent filings on Forms 10-K and 10-Q. Century Casinos disclaims any
obligation to
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Also See: | Century Casinos Announces New Casino Project in Prague, Czech Republic / March 1998 |