Following the receipt of a number of verbal indications of interest
Century Casinos considers sale of South African casino resorts
2008-09-09
Reading time 26 seg
The firm has invited interested parties to submit their written expressions of interest.
It owns 100% of The Caledon Hotel, Spa and Casino, which generated net operating revenues of us$ 16.1 million and Adjusted EBITDA of us$ 6.7 million in 2007, and 60% of Century Casino Newcastle, which generated net operating revenues of us$ 10.6 million and Adjusted EBITDA of us$ 3.8 million in 2007.
As per July 31, 2008, total third party debt amounts to us$ 4.2 million for The Caledon Hotel, Spa and Casino and to us$ 6.4 million for Century Casino Newcastle.
The company will provide an update about further developments of this potential sale in due course.
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