Century Casinos Provides Updates on Projects in Caruthersville, Missouri

COLORADO SPRINGS, Colo., December 5, 2022 /CNW/ — Century Casinos, Inc. (Nasdaq Capital Market®: CNTY) has damaged floor on a brand new land-based on line casino and resort improvement at Century Casino Caruthersville (the “Caruthersville Project”) Friday 2nd December 2022. The on line casino at Century Casino Caruthersville will characteristic 650 slot machines (with the choice to develop as much as 140 extra slots), desk video games, a deli and bar. The 38-room resort, which will likely be situated in a resort tower between the prevailing pavilion and the brand new on line casino, will provide scenic views of the Mississippi River and town Caruthersville. The new on line casino and resort is predicted to open in late 2024, topic to last regulatory approval from the Missouri Gaming Commission and different state and native approvals.

The Caruthersville undertaking is predicted to price roughly $51.9 million. To fund the Caruthersville undertaking, the Company entered into an modification to its grasp lease with VICI Properties Inc. (“VICI”). Upon completion, VICI will personal the actual property enhancements related to the Caruthersville undertaking. The annual hire below the grasp lease will enhance by approx $4.2 million after completion of the Caruthersville undertaking.

Following the groundbreaking, the Company hosted a grand opening of The Farmstead, a 36-room resort situated close to the prevailing Pavilion and new land-based on line casino and resort improvement in Caruthersville. The firm purchased the Farmstead land and buildings July 2021 and fully renovated the resort constructing into a recent one Missouri Country-style resort at a worth of approx $3.7 million. The Farmstead would be the solely resort Caruthersville till the brand new resort on the land-based Century Casino Caruthersville is accomplished.

The Company is at present persevering with work on relocating the on line casino ground of Century Casino Caruthersville from the riverboat and barge on the Mississippi to a brief location in the pavilion. The firm’s purpose is to finish this transfer earlier than the top of 2022 October 2022 made it crucial to maneuver to a brief facility on land, because the river barge, which had been working since 1994, might not be reached from inland waterway vessels. The Missouri Gaming Commission authorized the transfer to the short-term facility in October 2022. The on line casino will stay in the short-term facility till the brand new everlasting land-based on line casino is accomplished.

The story goes on

The pavilion, homestead, car parking zone and the brand new Caruthersville undertaking on land are all protected by a flood wall. As a outcome, the Company expects on line casino operations in Caruthersville is not affected by Mississippi water ranges.

Through these developments, Century Casinos is remodeling Century Casino Caruthersville from the final remaining riverboat on line casino on the Mississippi River right into a fully-fledged vacation spot resort able to attracting prospects from even additional afield Missouri, Tennessee and Arkansaswhereas offering current prospects with a good higher on line casino expertise.

About Century Casinos, Inc.:

Century Casinos, Inc. is a on line casino leisure firm. The Company owns and operates Century Casino & Hotels in Cripple Creek and Central City, Coloradoand in Edmonton, Alberta, Canada; the Century Casino in Cape Girardeau and Caruthersville, Missouriand in St Albert, Alberta, Canada; Mountaineer Casino, Racetrack & Resort in New Cumberland, West Virginia; and the Century Mile Racetrack and Casino in Edmonton, Alberta, Canada. Through its Austrian subsidiary Century Resorts Management GmbH, the corporate holds a 66.6% stake in Casinos Poland Ltd., which owns and operates a complete of eight casinos Poland; and a 75 p.c curiosity in Century Downs Racetrack and Casino in Calgary, Alberta, Canada. by his United States The Company’s subsidiary, Century Nevada Acquisition, Inc., owns a 50 p.c curiosity in Smooth Bourbon, LLC, which owns the land and buildings of the Nugget Casino Resort (the “Nugget”) in Sparks, Nevada. The Company has an settlement to buy 100% of the member curiosity in reference to the operation of the Nugget and an settlement to buy 100% of the fairness curiosity in the operation of the Rocky Gap Casino Resort. The firm additionally has an settlement to function a ship-based on line casino. The firm continues to pursue different initiatives in varied levels of improvement.

Century Casinos widespread inventory is traded on the Nasdaq Capital Market® below the image CNTY. For extra details about Century Casinos, please go to our web site at www.cnty.com.

This press launch might comprise “forward-looking statements” throughout the that means 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 comprise the price, timeline and prospects for the Caruthersville undertaking and the timeline therefor Century Casino moved to Caruthersville. These statements are primarily based on the beliefs and assumptions of Century Casinos administration primarily based on info at present obtainable to administration. Such forward-looking statements are topic to dangers, uncertainties and different elements that would trigger precise outcomes to vary materially from future outcomes expressed or implied by such forward-looking statements. Important elements that would trigger precise outcomes to vary materially from the forward-looking statements embrace, amongst others, the dangers described in the “Risk Factors” part of Item 1A of our Annual Report on Form 10-Ok for the present yr December 31, 2021, and in subsequent periodic and present SEC filings that we might make. Century Casinos disclaims any obligation to revise or replace any forward-looking statements made by or on its behalf every now and then.

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SOURCE Century Casinos, Inc.

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