COLORADO SPRINGS, Colo.,
Oct. 12, 2020 /PRNewswire/ -- Century
Casinos, Inc. (Nasdaq Capital Market®: CNTY) ("Century
Casinos" or the "Company"), announced today that it has
finalized an agreement with Tipico to become the company's third
internet sports betting operator partner in Colorado. The Company, through a subsidiary,
has already obtained its master license with the State of Colorado. Tipico will complete the
necessary application and approval process with the State of Colorado and will operate an internet
and mobile sports betting application under the Tipico brand.
"Tipico is thrilled to partner with Century Casinos, a highly
respected name in North American casino entertainment, to bring our
fully mobile sports betting experience to Colorado and introduce sports fans throughout
the state to our brand and proprietary technology," said
Adrian Vella, Managing Director, US
Business, Tipico.
The online sportsbook operations agreement with Tipico is a
10-year agreement that includes a one-time market access fee being
paid to the Company on contract signing, plus a minimum annual
revenue guarantee and a percentage share of net gaming revenue
payable to the Company each year.
"We are very excited to be partnering with Tipico Sportsbook,
one of the top sports betting companies in the world, and we
look forward to a long and prosperous relationship. The
Colorado Division of Gaming has done an excellent job launching
Sports Betting and we believe Colorado will be an ideal market for Tipico as
they continue their expansion and growth in the United States," said Erwin Haitzmann and
Peter Hoetzinger, Co Chief Executive Officers of Century
Casinos.
The Company has already signed two other internet sports betting
partnerships in Colorado with
Circa Sports and bet365.
About Tipico
Tipico is a U.S. sportsbook originally
founded in Europe in 2004. As the
leading sports betting provider in Germany and one of the top sports betting
companies worldwide, the company offers digital and mobile betting
entertainment across 30 different sports and invests heavily in the
development of technologies that make the sports betting experience
better and safer, placing the highest value on player protection.
Tipico Group Ltd. employs over 1,800 people worldwide and another
4,200 people working in the Tipico associated franchise network. In
the United States, Tipico is
currently licensed by the state of New
Jersey, and has established U.S. operations and business
headquarters in Hoboken, New
Jersey. For more information, please visit
www.tipico.com/us, or www.tipico-group.com.
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; 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 Ltd.,
the owner and operator of eight casinos throughout Poland; and a 75% ownership interest in
Century Downs Racetrack and Casino in Calgary, Alberta, Canada. The Company operates
four 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 certain "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.
Forward-looking statements may be identified by words such as
"expect," "anticipate," "believe," "intend," "estimate," "plan,"
"target," "goal," or similar expressions, or future or conditional
verbs such as "will," "may," "might," "should," "would," "could,"
or similar variations. 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 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. While there
is no assurance that any list of risks and
uncertainties or risk factors is
complete, below are certain
factors which could cause actual results to differ
materially
from those contained or implied in
the forward-looking statements
including: risks related to the sports betting
business; the timing for commencement of the sports betting
business; the possibility that the anticipated operating
results and other benefits of the sports
betting business are not realized when expected or at all; local
risks
including proximate competition, potential competition
and legislative and regulatory risks; and other
risks described in the section entitled "Risk
Factors" under Item 1A in the
Company's Annual Report on Form 10-K for the
year ended December 31, 2019 and in
subsequent periodic and current SEC filings the Company 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.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/century-casinos-partners-with-tipico-for-internet-sports-betting-in-colorado-301150177.html
SOURCE Century Casinos, Inc.