Century Casinos, Inc. announced today that Silverstar Development Limited
(“Silverstar”) informed the Company that the Supreme Court of Appeal of
South Africa granted the Gauteng Gambling Board (“GGB”) leave to appeal
the October 20, 2003 judgment ordering the award of the casino license to
As previously reported, on October 20, 2003, a judgment had been handed
down by the High Court of South Africa compelling the GGB to award a
casino license to Silverstar for the western periphery of metropolitan
Johannesburg. The GGB`s application for leave to appeal that October 20,
2003 judgment was initially denied by Mr. Justice Mynhardt of the Pretoria
High Court on November 11, 2003.
Silverstar informed the Company that it does not yet have any indication
with regard to the timing of the appeal process.
Through its South African subsidiaries, Century is contracted to
Silverstar by a long-term resort management agreement and retains a right
of long standing to take up a minority equity interest in the venture
although its final level of equity interest remains to be determined. The
project would include a casino with 1,350 slot machines, 50 gaming tables,
a hotel with conference facilities as well as numerous food and beverage
Century Casinos is an international casino company that owns and operates
Womacks Casino and Hotel in Cripple Creek, Colorado; owns and operates The
Caledon Hotel, Spa & Casino near Cape Town, South Africa; operates the
casinos aboard the ultra-luxury vessels of Silversea Cruises, The World of
ResidenSea, and Oceania Cruises; and owns 50% of, and provides technical
casino services to the Casino Millennium in the Marriott Hotel in Prague,
Czech Republic. The Company continues to pursue other international
projects in various stages of development.
The address for the U.S. offices is 157 E. Warren Ave. (P.O. Box 1006),
Cripple Creek, CO, 80813. Telephone: (719) 689-9100. Fax: (719) 689-5782.
E-Mail: email@example.com. For more information about Century Casinos,
visit the Company`s web site at http://www.centurycasinos.com/ . Century
Casinos` common stock trades on The NASDAQ Stock Market(R) under the