CNTY Century Casinos Inc

Century Casinos Reports Progress on Johannesburg Casino License CRIPPLE CREEK, Colo., Nov. 11 /PRNewswire-FirstCall/ -- Century Casinos, Inc. today announced that the Gauteng Gambling Board's ("GGB") application for leave to appeal the October 20 judgment ordering the award of the casino license to Silverstar Development Limited ("Silverstar") has been denied by Mr. Justice Mynhardt of the Pretoria High Court who also awarded costs against the GGB in favor of Silverstar. The company has been advised by Silverstar that there remains the possibility that the GGB may elect to petition the Supreme Court of Appeal (the highest court in South Africa in such matters) for an appeal to the October 20 judgment to be heard by that body. Silverstar further advises that such a petition must be filed within approximately four weeks and that such petitions for appeal are granted only in exceptional circumstances. Through its South African subsidiaries, Century is contracted to Silverstar by a resort management agreement and retains a right of long standing to take up a minority equity interest in the venture although it's final level of equity interest remains to be determined. Said Erwin Haitzmann, Chairman & CEO of Century Casinos, "While some uncertainty in respect of this project remains, we are delighted by this most recent outcome in the High Court which appears to bring realization of this exciting venture closer still and which in many ways vindicates our long-standing commitment to the pursuit of this opportunity." Silverstar, together with the Company, will now review the steps required to secure the remaining development approvals and re-establish the ownership and funding structures that will enable it to proceed further with this project. About Century Casinos, Inc: Century Casinos is an international casino company that owns and operates Womacks Casino and Hotel in Cripple Creek, Colorado; owns and operates The Caledon Casino, Hotel & Spa near Cape Town, South Africa; operates the casinos aboard the ultra-luxury vessels of Silversea Cruises, The World of ResidenSea, and Oceania Cruises; and owns 10% of, 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. The address for the U.S. offices is 157 E. Warren Ave. (P.O. Box 1006), Cripple Creek, CO, 80813. Telephone: (719) 689-9100. Fax: (719) 689-5782. E-Mail: . For more information about Century Casinos, visit the Company's web site at http://www.centurycasinos.com/ . Century Casinos' common stock trades on The NASDAQ Stock Market(R) 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 8K. 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. http://www.newscom.com/cgi-bin/prnh/20020328/LATH096LOGO http://photoarchive.ap.org/ DATASOURCE: Century Casinos, Inc. CONTACT: Larry Hannappel of Century Casinos, Inc., +1-719- 689-9100, Web site: http://www.centurycasinos.com/

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