CNTY - Century Casinos Announces Agreement With South African Golf Professional Trevor Immelman
Thursday September 7, 2:00 am ET
COLORADO SPRINGS, Colo., Sept. 7 /PRNewswire-FirstCall/ -- Century Casinos, Inc. (Nasdaq and Vienna Stock Exchange: CNTY) announced today that the Company, through its South African subsidiary Blue Crane Signature Golf Estate (PTY) Limited ("Blue Crane"), has entered into an agreement with South African golf professional Trevor Immelman. Under the terms of this agreement, Mr. Immelman will provide design, consultancy and advisory services in respect of the design layout and plans of the 18-hole signature golf course to be built at Century Casinos' Caledon property near Cape Town, South Africa.
Century Casinos is in the process of subdividing approx. 450 out of 600 acres of its own land at its Caledon property, with plans to develop a 27 hole golf estate with approx. 450 residential homes and to link the property to the existing nine-hole municipal golf course by adding another nine holes surrounded by resort housing elements.
Trevor Immelman, one of South Africa's most popular golf professionals, is a recent US PGA Tour winner and a four-time winner on the European Tour. The Company believes that this golf development designed by Trevor Immelman Design, together with the planned resort and housing projects, will enrich Caledon's tourist infrastructure and has the potential to further stimulate the local economy as well as the Caledon Casino.
Blue Crane plans to start construction of the new golf courses as soon as all necessary approvals and permits are in place, expected in late 2007 or early 2008.
About Century Casinos, Inc.:
Century Casinos, Inc. is an international casino entertainment company that owns and operates Womacks Casino and Hotel in Cripple Creek, Colorado; owns and operates the Casino Millennium in the Marriott Hotel in Prague, Czech Republic; operates the casinos aboard the Silver Wind, Silver Cloud, The World of ResidenSea, and the vessels of Oceania Cruises; owns a 65% interest in, and has a management contract for, the Century Casino & Hotel in Central City, Colorado; and owns and has begun construction on a casino and hotel development in Edmonton, Alberta, Canada. Through its subsidiary Century Casinos Africa (PTY) Limited, it owns and operates The Caledon Hotel, Spa & Casino near Cape Town, South Africa as well as 60% of, and provides technical casino services to, the Monte Vista Casino & Conference Center, Newcastle, South Africa. Furthermore, the Company's Austrian subsidiary, Century Casinos Europe GmbH, entered into an agreement to acquire a 33.3% ownership interest in Casinos Poland Ltd. The closing of this transaction is subject to due diligence and certain conditions. The Company continues to pursue other international projects in various stages of development.
For more information about Century Casinos, visit our web site at www.centurycasinos.com. Century Casinos' common stock trades on The NASDAQ Capital Market® and the Vienna Stock Exchange under the symbol CNTY.
This release may contain forward-looking statements that involve risks and uncertainties. Among the other important factors which could cause actual results to differ materially from those in the forward-looking statements are economic, competitive, and governmental factors affecting the Company's operations, markets, services and prices, as well as other factors detailed in the Company's filings with the Securities and Exchange Commission, including its recent filings on Forms 10-K, 10-Q, and 8-K. Century Casinos disclaims any obligation to revise or update any forward-looking statement that may be made from time to time by it or on its behalf.
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Source: Century Casinos, Inc.
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