The total consideration payable to the company amounts to us$ 2,300,000, which are payable to the company at closing, the balance of us$ 800,000 is payable over 12 months.
Century Casino Millennium reported average annual EBITDA of less than us$ 200,000 over the last three years and generated less than 3% of the Company’s total annual net operating revenues.
Closing of the transaction is contingent upon the approvals of the Ministry of Finance and of B.H. Centrum a.s. (owner of the Marriott hotel property and landlord of the Casino Millennium). The buyer of the Century Casino Millennium is the majority shareholder and principle of the Viva Casino Group, which operates casinos in Slovenia, Romania, Bulgaria and Cyprus.