COLORADO SPRINGS, Colorado, May 5, 2015 /PRNewswire/ -- Century Casinos, Inc. (NASDAQ Capital Market®: CNTY) announced that Century Bets! Inc. started operating the pari-mutuel off-track horse betting in Southern Alberta, Canada.
Upon award of a three year license by Horse Racing Alberta in December 2014, the Company and Rocky Mountain Turf Club ("RMTC") formed Century Bets! Inc. ("CBS"). CBS is owned 75% by the Company and 25% by RMTC. CBS started operating the pari-mutuel off-track horse betting network in Southern Alberta, Canada on May 4, 2015.
CBS has joint venture agreements with close to 100 racetracks throughout North America and also world-wide for the sourcing of common pool pari-mutuel wagering content. CBS has also contracts with 15 off-track betting parlors throughout Southern Alberta, where it is providing pari-mutuel wagering content and live video. CBS retains the handle from bets placed on horse races at the off-track betting parlors and pays a portion thereof as commissions, fees and expenses.
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, 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 nine casinos in Poland. The Company also owns 75% of United Horsemen of Alberta doing business as Century Downs Racetrack and Casino in the north metropolitan area of Calgary, Alberta, Canada, which includes a horse race track and gaming, restaurant and entertainment facilities. The Company also operates casinos aboard 14 luxury cruise vessels (Regatta, Nautica, Insignia, Marina, Mein Schiff 1, Mein Schiff 2, Mein Schiff 3, Wind Surf, Wind Star, Wind Spirit, Star Pride, Seven Seas Voyager, Seven Seas Mariner, and Seven Seas Navigator) and the casino on the cruise ferry Nova Star. The concession agreements for the casinos aboard the Oceania Cruises ships (Regatta, Nautica, Insignia, Marina and Riviera) and Seven Seas Cruises ships (Seven Seas Voyager, Seven Seas Mariner and Seven Seas Navigator) will end effective June 1, 2015. The Company manages the operations of the casino at the Radisson Aruba Resort, Casino & Spa in Aruba, Caribbean. 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 Mendoza Casino in Mendoza, Argentina. The Company, through CCE, also owns a 75% interest in Century Bets! Inc., which is operating a pari-mutuel off-track betting network in Southern Alberta, Canada. The Company 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® 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 future results of operations, operating efficiencies, synergies and operational performance, development of and the prospects for the Century Downs Racetrack and Casino project, debt repayment, investments in joint ventures, outcomes of legal proceedings 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, 2014. 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.
SOURCE Century Casinos, Inc.