Century Casinos totals eight licenses in Poland

(PRESS RELEASE) -- Century Casinos, Inc. announced today that its 66.6%-owned Polish subsidiary Casinos Poland Ltd. now holds a total of eight casino licenses in Poland, as compared to seven a year ago.

After a rather turbulent few quarters where the official process for the award of casino licenses came under criticism especially for its late timing, which resulted in several casino closings throughout Poland, lost gaming tax revenue for the government and additional costs and expenses for the operators, Casinos Poland has been awarded a total of eight casino licenses in the following markets: Warsaw (3), Wroclaw (1), Katowice (1), Bielsko-Biala (1), Krakow (1) and Lodz (1). Five casinos are already in operation, the Krakow casino opens today and the third casino in Warsaw and the casino in Lodz will open next month.

As reported previously, the results of the second quarter 2018 will be significantly impacted by the additional costs and expenses associated with the temporary closure of several of the Company’s casinos in Poland.

“We are very pleased that the important license tenders in Poland have now been completed and we will soon operate a total of eight casinos in Poland,” Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos remarked. “The Polish casino market continues to be robust and we look forward to generating solid and sustainable returns going forward,” they continued.