EANS-Adhoc: Century Casinos, Inc. Announces $27 million Credit Agreement from Bank of Montreal

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Company Information

29.05.2012

May 29, 2012

Century Casinos, Inc. Announces $27 million Credit Agreement
from Bank of Montreal

Colorado Springs, Colorado, May 29, 2012 - Century Casinos,
Inc. (NASDAQ Capital Market® and Vienna Stock Exchange: CNTY) today
announced that, through its subsidiaries Century Resorts Alberta
Inc. and Century Casino Calgary Inc., the company has agreed to the
terms of a CAD 28 million (approximately USD $27 million based on
the exchange rate in effect on May 23, 2012) credit agreement with
Bank of Montreal ("BMO"). The Company drew USD $4 million
from the proceeds of the credit agreement and used USD $3 million
of cash on hand to repay in full the outstanding balance of the
Company's third party mortgage debt related to its Edmonton
property ("Edmonton Mortgage").

Remaining proceeds from the credit agreement (approximately USD
$23 million) are available to pursue the development or
acquisition of new gaming opportunities as well as for general
corporate purposes.

The BMO loan has a term of five years and is guaranteed by the
Company. The floating interest rate on the first draw of $4 million
is 3.75%. The Company incurred USD $0.2 million in prepayment
penalties to settle the Edmonton Mortgage; however, the Company
was able to reduce its overall interest rate on its outstanding
debt from 7.0% to a floating 3.75%.

"We are very pleased with our new business relationship with BMO,
one of the largest Canadian banks. This credit agreement is
part of our strategy to increase long-term shareholder value
through expansion and growth in domestic as well as international
gaming markets. In addition, with the early repayment of the
Edmonton Mortgage, the Company has significantly decreased its
interest rate and outstanding debt." said Erwin Haitzmann and Peter
Hoetzinger, Co Chief Executive Officers of Century Casinos.

About Century Casinos, Inc.: Century Casinos, Inc. is an
international casino entertainment company that owns and operates
Century Casino & Hotels in Cripple Creek and Central City,
Colorado, and in Edmonton, Alberta, Canada and the Century Casino
in Calgary, Alberta, Canada. The Company also operates casinos
aboard twelve luxury cruise vessels (Regatta, Nautica, Marina,
Riviera, Mein Schiff 1, Mein Schiff 2, Wind Surf, Wind Star, Wind
Spirit, Seven Seas Voyager, Seven Seas Mariner and Seven Seas
Navigator). Through its Austrian subsidiary, Century Casinos Europe
GmbH, the Company holds a 33.3% ownership interest in Casinos Poland
Ltd., the owner and operator of seven casinos in Poland. The
Company also manages the operations of the casino at the Radisson
Aruba Resort, Casino & Spa in Aruba, Caribbean. Century Casinos,
Inc. continues to pursue other international projects in various
stages of development.

For more information about Century Casinos, visit our
website 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" within the
meaning of Section 27A of the Security 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, operating efficiencies, synergies and operational
performance, economic improvements in 2012 and plans for our
casinos and our Company. 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,
2011. 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.

Further inquiry note:
Century Casinos Europe GmbH
Mag. Peter Hötzinger, CO-CEO
Tel.:0664/3553935
mailto:peter.hoetzinger@cnty.com
http://www.cnty.com

end of announcement euro adhoc
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issuer: Century Casinos,Inc.
c/o Century Casinos Europe GmbH, Untere Viaduktgasse 2
A-1030 Wien
phone: +43/664/3553935
FAX: +43/1/5336363
mail: peter.hoetzinger@cnty.com
WWW: www.cnty.com
sector: Casinos & Gambling
ISIN: AT0000499900
indexes: WBI, ATX Prime
stockmarkets: official market: Wien
language: English