Century Casinos to Own One Third of Casinos Poland

COLORADO SPRINGS, Colorado -- Century Casinos, Inc. (Nasdaq: CNTY; and Vienna Stock Exchange: CNTY) announced today that the Company's Austrian subsidiary, Century Casinos Europe GmbH, has entered
Typical layout at a Casinos Poland casino.  into an agreement to acquire 100% of G5 Sp. z o.o., a Polish company, which holds 33.3% of all issued and outstanding shares of Casinos Poland Ltd. The closing of the acquisition is subject to due diligence and certain conditions, including the approval of the Polish Anti Monopoly Authorities.

The total financial consideration payable for the transaction of approx. $8,620,000 consists of a PLN 15,000,000 (approx. $4,860,000) loan funding from Century Casinos Europe GmbH to G5, plus the purchase price of Euro 2,920,000 (approx $3,760,000). Euro 1,840,000 (approx. $2,370,000) of the purchase price is payable at closing of the transaction, the remaining Euro 1,080,000 (approx. $1,390,000) at the end of 2006.

Casinos Poland's seven casinos and one slot arcade, situated in major cities in four and five star hotels throughout Poland, generated net operating revenues of PLN 127,000,000 (approx. $41,200,000) in 2005.

Peter Hoetzinger, Co CEO & President of Century Casinos, about the transaction, "Casinos Poland is the country's industry leader with a market share of 50% of all casino revenues generated in Poland. They also own and operate Poland's most popular gaming venue, the casino in the Marriott hotel in Warsaw. We are excited about this unique opportunity to enter the Polish casino market and look forward to build on Casinos Poland's success and further expand and diversify Century Casinos' earnings stream."

The other owners of Casinos Poland are LOT Polish Airlines and the Polish Airport Authority with a 33.3% stake each.

Poland, with its 38.7 million inhabitants, joined the European Union in May 2004 and is experiencing economic growth rates of about 5% per annum. Currently, there are 27 casinos operating in Poland. Casino licenses are granted only in cities with at least 250,000 inhabitants and are administered by the strict rules and regulations of the Polish Ministry of Finance.