COLORADO SPRINGS, Colo.,
Nov. 21, 2017 /CNW/ -- Century
Casinos, Inc. (NASDAQ Capital Market®: CNTY) announced today the
closing of its underwritten public offering of 4,887,500 shares of
its common stock, including the full exercise by the underwriters
of their option to purchase 637,500 additional shares, at a price
to the public of $7.50 per share. Net
proceeds to the Company, after underwriting discounts and
commissions and estimated offering costs, were approximately
$34.4 million. The Company intends to
use up to $25.0 million of the net
proceeds received from the offering to fund construction costs for
the Century Mile project, with the remaining net proceeds used to
invest in additional gaming projects and for working capital and
other general corporate purposes.
Stifel and Roth Capital Partners acted as the joint book-running
managers for the offering. Craig-Hallum Capital Group and Union
Gaming Securities acted as co-managers for the offering.
The securities described above were offered by Century Casinos
pursuant to a registration statement previously filed and declared
effective by the Securities and Exchange Commission (SEC) and a
final prospectus supplement and accompanying prospectus relating to
the offering that were filed with the SEC. This press release shall
not constitute an offer to sell or the solicitation of an offer to
buy, nor shall there be any sale of these securities in any
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such jurisdiction. Copies of the final
prospectus supplement and the accompanying prospectus relating to
this offering may be obtained from Stifel, Nicolaus & Company,
Incorporated, Attention: Syndicate, One
Montgomery Street, Suite 3700, San
Francisco, California 94104, by telephone at (415) 364-2720
or by email at syndprospectus@stifel.com and from Roth Capital
Partners, LLC, 888 San Clemente Drive, Newport Beach, CA 92660, by telephone at (800)
678-9147. Electronic copies of the final prospectus supplement and
accompanying prospectus are also available on the website of the
SEC at www.sec.gov.
About Century Casinos, Inc.:
Century Casinos, Inc. is an international casino entertainment
company that operates worldwide. The Company owns and operates
Century Casino & Hotels in Cripple
Creek and Central City,
Colorado, and in Edmonton,
Alberta, Canada and the Century Casino in Calgary and in St.
Albert, Alberta, Canada. Through its Austrian subsidiary,
Century Casinos Europe GmbH ("CCE"), the Company holds a 66.6%
ownership interest in Casinos Poland Ltd., the owner and operator
of six casinos in Poland. The
Company, through CCE, also holds a 75% ownership interest in both
Century Downs Racetrack and Casino, which began operations in the
north metropolitan area of Calgary,
Alberta, Canada in April 2015,
and Century Bets!, which began operating the pari-mutuel off-track
horse betting network in Southern
Alberta, Canada in May 2015.
The Company operates 14 ship-based casinos onboard ships with four
cruise ship owners. The Company, through CCE, also owns a 7.5%
interest in, and provides consulting services to, Mendoza Central
Entretenimientos S.A., a company that provides gaming-related
services to Casino de Mendoza in Mendoza, Argentina. The Company is developing a horse
racetrack and entertainment center in Edmonton, Alberta, Canada to be called Century
Mile and a new casino in Bath,
England. The Company continues to pursue other international
projects in various stages of development.
For more information about Century Casinos, visit our website at
www.cnty.com. Century Casinos' common stock trades on The NASDAQ
Capital Market® under the symbol CNTY.
This release may contain "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, Section 21E of the Securities Exchange Act of 1934, as
amended, and the Private Securities Litigation Reform Act of 1995.
These statements are based on the beliefs and assumptions of the
management of Century Casinos based on information currently
available to management. Such forward-looking statements include,
but are not limited to, statements regarding the Company's
expectations on the anticipated use of proceeds from the public
offering, the prospects for new projects and projects in
development, including Century Mile and the Bath, England casino, the anticipated timing
and costs of the Century Mile and Bath,
England projects, and plans for our casinos and our Company.
In some cases, you can identify forward-looking statements by terms
such as "may," "will," "should," "expect," "plan," "anticipate,"
"could," "intend," "target," "project," "contemplates," "believes,"
"estimates," "predicts," "potential" or "continue" or the negative
of these terms or other similar expressions. These forward-looking
statements speak only as of the date of this press release and are
subject to a number of risks, uncertainties and assumptions,
including the risks and uncertainties associated with market
conditions and the satisfaction of customary closing conditions
related to the public offering, as well as risks and uncertainties
inherent in the Company's business, including those described in
the Company's prior press releases and in the periodic reports it
files with the SEC. The events and circumstances reflected in the
Company's forward-looking statements may not be achieved or occur
and actual results could differ materially from those projected in
the forward-looking statements. Except as required by applicable
law, the Company does not plan to publicly update or revise any
forward-looking statements contained herein, whether as a result of
any new information, future events, changed circumstances or
otherwise.
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SOURCE Century Casinos, Inc.