Century Casinos acquires full ownership of Colorado casino

COLORADO SPRINGS, Colorado -- (PRESS RELEASE) -- Century Casinos, Inc. (Nasdaq: CNTY) announced today that the Company has acquired the remaining 35% of all issued and outstanding partnership units of CC Tollgate LLC ("Tollgate") that were owned by Central City Venture LLC ("Venture"), a non-affiliated US company. Tollgate owns and operates the Century Casino & Hotel in Central City, Colorado. The transaction closed on December 31, 2007.

The purchase price for the 35% equity interest amounts to $2.1 million. In addition, Venture was repaid a $1.0 million loan previously granted to Tollgate by Venture as well as $0.2 million of accrued interest. In accordance with US accounting standards, because the Company previously allocated Tollgate's losses against the $1.0 million loan, the Company will be required to recognize the repayment of the $1.0 million loan as a charge to the income statement in the fourth quarter 2007.

Since its opening in July 2006, the Century Casino & Hotel has shown consistent growth in net operating revenues and Adjusted EBITDA*. The Company's purchase of the remaining 35% interest in CC Tollgate LLC will not have an impact on Adjusted EBITDA*, as the minority interest's share of the net losses were reported after Adjusted EBITDA*. However, net income or losses will be reported at 100% (instead of the previous 65%) going forward. The Century Casino & Hotel currently operates with 576 slot machines, 9 table games, 26 hotel rooms and 2 restaurants. The Company now also owns a property across from the casino with a potential of 30,000 square feet after build out, the use of which has not yet been determined.