Century Casinos Acquires Casino Millennium Shares
Century Casinos, Inc. announced today that the Company has acquired the remaining 50% of all issued and outstanding shares of Casino Millennium a.s. ("CM"), Prague, Czech Republic, that were owned by Strabag AG, a non-affiliated Austrian company. The transaction has been closed on April 13, 2006. The total consideration paid was $680,000, including the buyout of a security deposit for the casino license in the amount of CZK 10 million (approx. $425,000) which belongs to CM, the takeover of loans previously granted to CM by Strabag and the purchase price for the 50% equity interest.
Since its opening in 1999, Casino Millennium, located in the 600 room Marriott and Renaissance hotel, office and shopping complex, has established its position as the premium casino in the heart of Prague with high standards of customer service and hospitality.