Century Casinos Reveals UK Casino Project - Tuesday 20th of December 2005
COLORADO SPRINGS, Colorado – In its first move into the UK, Century Casinos, Inc. (Nasdaq: CNTY) today announced plans to develop and operate a casino in Croydon, greater London, UK.
Century Casinos' partner in the project is the Westmead Business Group Limited, owner and operator of the Airport House and the Aerodrome Hotel in Croydon. The project will comprise a Large Casino (as defined in the UK Gambling Act 2005) with a customer area of at least 16,000 square feet for a minimum of 30 gaming tables and 150 slot machines, an expansion of the hotel to 150 rooms, two restaurants and several bars, a health club, an events and conference center for 300 guests, the existing airport museum as well as fully serviced office suites.
The Aerodrome Hotel in Croydon was opened in 1928 to serve Croydon Airport, the world's first international airport and is one of the finest hotels in Croydon. Mainly catering for airline passengers and crews, many famous people stayed in the hotel, including King George VI, Amy Johnson, Douglas Fairbanks, Mary Pickford and Charlie Chaplin. It is ideally located on the A23, with quick and easy access to central London (30 minutes) by road or rail, the UK motorway network via the M25 and M23, and the airports of Gatwick (20 minutes) and Heathrow (45 minutes). More than 700,000 people with a disposable income that is higher than the UK average live within a 20 minutes drive of the location.
"The casino project at the Airport House and Aerodrome Hotel in Croydon promises to become one of the UK's top new mid-size casino destinations," said Peter Hoetzinger, Co CEO and President of Century Casinos, Inc. "The provisions of the new Gambling Act, allowing new casinos to offer table games, slot machines and entertainment on an international level, together with the excellent location and demographics of the proposed site, make this project a natural location for our proposed first UK casino development," Hoetzinger added.
John Power, Chairman of the Westmead Business Group, said: "The regeneration of the Aerodrome Hotel will have a positive impact on the economy of Croydon and the south London area. We are delighted to be working with Century Casinos to make this happen and to provide Croydon with high-class casino entertainment facilities."
Westmead Business Group and Century Casinos will cooperate to secure planning and zoning permission for the proposed development and make applications for operating and personal casino licenses under the new UK Gambling Act as soon as the newly established Gambling Commission accepts such applications (estimated in the second half of 2006).
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