Century Casinos to sell off its South African division
The Colorado Springs-based international casino company said the buyer, Tsogo Sun Gaming (Pty) Ltd., has agreed to close the sale of Century Casinos Africa (Pty) Ltd. on June 30 even though final regulatory approval from the KwaZulu-Natal Gambling Board has not yet been received.
On closing, Century Casinos will receive a net cash amount of about us$ 31 million. After regulatory approval is obtained, Century Casinos will receive another us$ 13 million.
The company’s South African subsidiary owns the Caledon Hotel, Spa & Casino near Cape Town, as well as 60 % of Century Casino Newcastle, in Newcastle, South Africa. It acquired the Newscastle interest in 2005.
In Colorado, Century Casinos owns and operates Womacks Casino and Hotel in Cripple Creek and the Century Casino & Hotel in Central City. It also owns a casino hotel in Edmonton, Alberta; operates casinos aboard several cruise vessels; and owns shares through an Austrian subsidiary of several casinos in Poland.
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