COLORADO SPRINGS, Colo.,
March 16, 2020 /CNW/ -- Century
Casinos, Inc. (Nasdaq Capital Market®: CNTY) ("Century Casinos" or
the "Company") announced today that its subsidiary Casinos Poland
Sp. z o.o., in which the Company holds a 66.6% ownership interest,
closed its casinos to comply with a quarantine imposed by the
Polish government to contain the spread of COVID-19. The quarantine
includes the closure of restaurants, bars and casinos.
The Company closed its Polish casinos at midnight on
Friday, March 13, 2020. The Company
cannot predict the duration of the closures. The Company estimates
that without business interruptions its Poland segment would generate 5-10% of the
Company's 2020 net operating revenue and Adjusted EBITDA.
As previously disclosed, the COVID-19 situation continues to
evolve and could adversely impact the Company, including in its
North American markets if similar closures occur or other measures
are taken.
About Century Casinos, Inc.:
Century Casinos, Inc. is
a casino entertainment company. The Company owns and operates
Century Casino & Hotels in Cripple
Creek and Central City,
Colorado, and in Edmonton,
Alberta, Canada; the Century Casino in Cape Girardeau and Caruthersville, Missouri, in Calgary and St.
Albert, Alberta, Canada and in Bath, England; Mountaineer Casino, Racetrack
& Resort in New Cumberland, West
Virginia; the Century Mile Racetrack and Casino ("CMR") in
Edmonton, Alberta, Canada; and
Century Bets! Inc. ("CBS"). CBS and CMR operate the pari-mutuel
off-track horse betting networks in southern and northern
Alberta, respectively. Through its
Austrian subsidiary, Century Resorts Management GmbH ("CRM"), the
Company holds a 66.6% ownership interest in Casinos Poland Sp. z
o.o., the operator of eight casinos throughout Poland; and a 75% ownership interest in
Century Downs Racetrack and Casino in Calgary, Alberta, Canada. The Company operates
five ship-based casinos. The Company, through CRM, 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 continues to pursue
other projects in various stages of development.
Century Casinos' common stock trades on The Nasdaq Capital
Market® under the symbol CNTY. For more information about Century
Casinos, visit our website at www.cnty.com.
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 future results of
operations, including the impact of the current coronavirus
(COVID-19) pandemic and financial results of its Poland segment. Such forward-looking
statements are subject to risks, uncertainties and other factors
that could cause actual results to differ materially from future
results expressed or implied by such forward-looking statements.
Important factors that could cause actual results to differ
materially from the forward-looking statements include, among
others, the risks described in the section entitled "Risk Factors"
under Item 1A in our Annual Report on Form 10-K for the year ended
December 31, 2019 and in subsequent
periodic and current SEC filings we may make. 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.