Key Developments For Century Casinos, Inc.
Century Casinos, Inc. (CNTY.O) (Consolidated Issue listed on NASDAQ Capital Market)
Century Casinos, Inc. Receives Final Payment For Sale Of Century Casinos Africa (Pty) Limited
Century Casinos, Inc. announced that the Company received the final outstanding payment of ZAR98.8 million (approx. $13.4 million) for the sale of its South African subsidiary Century Casinos Africa (Pty) Limited (CCA). This concludes the sales transaction of CCA as scheduled.
Century Casinos, Inc. Obtains Final Approval For Sale Of South African Subsidiary
Century Casinos, Inc. announced that it obtained the last outstanding approval for the sale of its South African subsidiary Century Casinos Africa (Pty) Limited (CCA) by the KwaZulu-Natal Gambling Board. The final payment for this transaction, a net cash amount of ZAR98.8 million (approximately $13 million), will be made to Century Casinos upon formal registration of certain shareholder resolutions at the official registrar of companies of South Africa, expected within approximately two weeks. The Company already received a net cash amount of ZAR253.5 million ($32.8 million) at closing on June 30, 2009.
Century Casinos, Inc. Closes Sale of Its South African Subsidiary
Century Casinos, Inc. announced that it has closed the sale of its South African subsidiary Century Casinos Africa (Pty) Limited to Tsogo Sun Gaming (Pty) Limited. Century Casinos received a net cash amount of ZAR253.5 million (approximately $32.5 million). An additional net cash amount of approximately ZAR106 million (approximately $13.5 million) becomes payable to Century Casinos as soon as the approval of the KwaZulu-Natal Gambling Board has been obtained.
Century Casinos, Inc. Announces Closing Date Of June 30, 2009 For Sale Of Its South African Subsidiary
Century Casinos, Inc. announced that it entered into an amendment to the sale agreement for its South African subsidiary Century Casinos Africa (Pty) Limited. With the amendment, the buyer (Tsogo Sun Gaming (Pty) Limited) waived its rights under the material adverse event clause and agreed to close the sale on June 30, 2009, notwithstanding that the last and final regulatory approval (from the KwaZulu-Natal Gambling Board) has not yet been received. Upon closing of the sale on June 30, 2009, Century Casinos will receive a net cash amount of approx. ZAR 254 million (approximately $31 million).
Century Casino Obtains Approval of Western Cape Gambling and Racing Board for Sale of South African Casino Properties
Century Casinos, Inc. announced that Western Cape Gambling and Racing Board approved the sale of its South African subsidiary Century Casinos Africa (Pty) Limited (CCA). This is the third of four regulatory approvals required for finalizing the sale. The approval of KwaZulu-Natal Gambling Board is expected to occur in the future. On December 19, 2008, a subsidiary of the Company entered into an agreement with Tsogo Sun Gaming (Pty) Limited to sell all of the outstanding shares of Century Casinos Africa (Pty) Limited (CCA) for a gross selling price of ZAR 460.0 million (approximately EUR 40 million) less the balance of third party South African debt and other agreed to amounts. Net proceeds from the transaction are expected to be approximately ZAR 357.3 million (approximately EUR 31 million) and are payable at closing.
