Century Casinos Buys Out Minority Shares - Tuesday 13th of December 2005

Century Casinos, Inc. ("CCI") today announced that it has agreed to purchase the 43.6% interest in Century Resorts Alberta, Inc. ("CRA") that is currently owned by a non-affiliated minority shareholder. CRA is constructing the Celebrations Casino and Hotel in Edmonton, Alberta, Canada. After this transaction, CCI through its wholly owned subsidiary, Century Resorts International Ltd., will own 100% of the project. The total purchase price of the transaction, subject to approval by the Alberta Gaming & Liquor Commission, is 7.3 million CAD (approximately $6.3 million). 5.8 million CAD (approximately $5.0 million) will be paid upon closing and 1.5 million CAD (approximately $1.3 million) will be paid on the first anniversary of the opening of the casino.

Erwin Haitzmann, Co CEO and Chairman of the Board, comments: "The Edmonton market continues to be very strong and we look forward to realizing 100% of the potential of the Celebrations Casino and Hotel." The project, expected to open in the fourth quarter of 2006, includes a state-of-the-art casino with 600 slot machines, 31 table games, several food & beverage outlets, a hotel with initially 26 rooms (phase two includes a hotel tower with an additional 80 rooms), a dinner theater as well as an underground parkade.

Other news from around the same time

Shuffle Master Earnings Up - Tuesday 13th of December 2005

Shuffle Master, a Las Vegas-based manufacturer of automatic card shufflers and other gambling device....


Sportsbook.com Offers World Cup Odds - Tuesday 13th of December 2005

With the draw for the 2006 World Cuptaking place today in Liepzig, Germany, Sportsbook.com has poste....


Sportsbook.com Bettors Win Big - Tuesday 13th of December 2005

Huge payouts have become commonplace atSportsbook.com, and this past weekend was no exception. Two N....


Biloxi Casino in Jeopardy - Tuesday 13th of December 2005

BILOXI, Mississippi – As reported by the Biloxi Sun Herald: "A $400 million casino project, the f....


Philadelphia Casino Proposal Revealed - Tuesday 13th of December 2005

PENNSYLVANIA – As reported by the Patriot News: "Three midstate men are partners in a venture to ....


Nevada Projects Win Gaming Board Support - Tuesday 13th of December 2005

CARSON CITY, Nevada – As reported by the Tahoe Bonanza News: "Casino projects in Silver Springs, ....


Seneca Nation Moves Ahead with Casino - Tuesday 13th of December 2005

NEW YORK – As reported by the Buffalo News: "The Seneca Nation of Indians is moving ahead to dev....


Official: Botswana Casino Act Lacks Restrictions - Tuesday 13th of December 2005

BOTSWANA – As reported by the Mmegi News: "The Chairman of the Botswana Casino Control Board, Lek....


Reviewing Some Fine Points - Tuesday 13th of December 2005

Dear Mark, In Texas Hold'em, if two players have the exact same hand, is the pot divided evenly?....


Rosemont Ups Ante in Casino Bid - Tuesday 13th of December 2005

ROSEMONT, Illinois – As reported by the Chicago Sun-Times: "The village of Rosemont, in trying to....