Century Casinos obtained final approval for the sale of its South African subsidiary

The final payment for this transaction, a net cash amount of approximately us$ 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 us$ 32.8 million at closing on June 30, 2009.

An additional us$ 2.3 million released from retention and us$ 0.4 million have been paid to the company on September 29, 2009, as the net asset value of CCA at June 30, 2009 exceeded the NAV at December 31, 2008 by us$ 430,522.

"We are delighted about the completion of the final step of this sales transaction. Our South African investment and casino operations have provided excellent returns for us. The total net cash proceeds of the sale of approximately us$ 48 million, or approximately us$ 2 per share, will be primarily used to further reduce the leverage of the company, to develop and/or acquire casino projects and potentially to repurchase shares of the company's common stock", stated Erwin Haitzmann and Peter Hoetzinger, Co CEOs of Century Casinos, Inc.