Business
Century Casinos Enters into Definitive Agreement to Sell Land and Building in Calgary
COLORADO SPRINGS, Colo., Jan. 13, 2022 /PRNewswire/ -- Century Casinos, Inc. (Nasdaq Capital Market®: CNTY) ("Century Casinos" or the "Company"), announced
About this update from Century Casinos, Inc.
[{"type":"text","content":"COLORADO SPRINGS, Colo., Jan. 13, 2022 /PRNewswire/ -- Century Casinos, Inc. (Nasdaq Capital Market®: CNTY) (\"Century Casinos\" or the \"Company\"), announced today that its subsidiary Century Resorts Alberta, Inc. (\"CRA\") entered into a definitive agreement on January 12, 2022 to sell the land and building it owns in Calgary, Alberta, Canada to Rowanwood Financial Properties Ltd. (the \"Buyer\") for CAD 8.1 million ($6.5 million based on the exchange rate on January 12, 2022). The Buyer has paid CAD 0.7 million related to the sale; the remaining CAD 7.4 million will be paid upon closing, subject to adjustments for property taxes and other revenues and expenses relating to the property. \n\n \n \n \n \n \n \n\n \nOn December 1, 2020, CRA sold the casino operations of Century Casino Calgary located on the property and leased the portion of the property containing the casino premises to the purchaser. CRA continues to operate Century Sports, a sports bar, bowling and entertainment facility located on a portion of the property. Upon closing, CRA will stop operating Century Sports and will transfer the lease agreement for the casino premises to the Buyer.\nThe transaction is expected to close within 30 days.\nAbout 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, and in St. Albert, Alberta, Canada; Mountaineer Casino, Racetrack & Resort in New Cumberland, West Virginia; and the Century Mile Racetrack and Casino (\"CMR\") in Edmonton, Alberta, Canada. Through its Austrian subsidiary, 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 has an agreement to operate two ship-based casinos. The Company continues to pursue other projects in various stages of development.\nCentury 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. \nThis release may contain certain \"forward-looking statements\" within the meaning of ...