Century Casinos to purchase additional 33% ownership in Casinos Poland
The transaction is subject to approval from the Polish Minister of Finance and Polish Airports, the co-shareholder in CPL.
There is no assurance that the company will obtain the needed approvals or as to the timing of such approvals. Upon closing of the transaction, the company will execute the final agreement and own a 66.6% ownership interest in CPL.
The latest available market data indicate that through the eight casinos operated in major cities throughout Poland, CPL has a 46% share of the Polish casino market. For the 12 month period ended June 30, 2012, CPL recorded net operating revenue of approximately us$ 46.5 million, EBITDA of approximately us$ 5.9 million and net income of approximately us$ 1.7 million (all based on average PLN to USD exchange rates for the same period).
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