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Gaming Industry News |
Saturday November 22nd, 2008 |
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Century Casinos Finalizes Palace Casino Property Acquisition |
![Century Casinos]()
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CRIPPLE CREEK, Colo., May 1 /PRNewswire-FirstCall/ -- Century Casinos, Inc. (NASDAQ:CNTY) reported that the acquisition of the Palace Casino Property in Cripple Creek was finalized today. The $1.2 purchase was funded by the Company's line of credit with Wells Fargo Bank.
The property, which includes five city lots, or approximately 15,000 square feet, is located directly across the street from Womacks Casino and Hotel. The Company will convert the majority of the property into additional parking spaces for Womacks. The creation of additional parking space is an important asset in the competitive Cripple Creek market. This project will increase the Company's total number of parking spaces to approximately 440. It is expected that the project will be completed by the end of May.
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 worldwide. The Company owns and operates Womacks Casino and Hotel in Cripple Creek, Colorado; owns (65%) and operates The Caledon Casino, Hotel & Spa near Cape Town, South Africa; has a five-year casino concession to operate four casinos aboard the ultra-luxury Silversea cruise vessels; has a five-year casino concession to operate the casino aboard The World of ResidenSea cruise vessel, the world's first ocean going luxury residential resort; and manages the Millennium Casino in the Marriott Hotel in Prague, Czech Republic. The Company continues to pursue other international projects in various stages of development.
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