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Vol. 7 No. 10, October 2008, Dateline
Sale of the Century
Century Casinos, based in Colorado with a subsidiary in Austria, has announced that it is open to selling all or part of its casino resort operations in South Africa.
The willingness to sell follows on the heels of “verbal indications of interest,” according to a press release from the company.
The properties in question are the Caledon Hotel, Spa and Casino in the Western Cape province and the Century Casino and Hotel in Newcastle, KwaZulu-Natal provin
Century owns 100 percent of the Caledon complex, which had net operating revenue of 127.8 million rand, about $16.1 million, and adjusted EBITDA of 53.1 million rand.
The Newcastle property is 60 percent owned by Century and produced net operating revenue of 84.4 million rand and EBITDA of 30.5 million rand.
Century Casinos has operations in the U.S., Canada, Czech Republic and South Africa, plus on cruise ships.
Century Casinos Europe GmbH owns 33 percent of Casinos Poland.
The willingness to sell follows on the heels of “verbal indications of interest,” according to a press release from the company.
The properties in question are the Caledon Hotel, Spa and Casino in the Western Cape province and the Century Casino and Hotel in Newcastle, KwaZulu-Natal provin
Century owns 100 percent of the Caledon complex, which had net operating revenue of 127.8 million rand, about $16.1 million, and adjusted EBITDA of 53.1 million rand.
The Newcastle property is 60 percent owned by Century and produced net operating revenue of 84.4 million rand and EBITDA of 30.5 million rand.
Century Casinos has operations in the U.S., Canada, Czech Republic and South Africa, plus on cruise ships.
Century Casinos Europe GmbH owns 33 percent of Casinos Poland.
Staff writers for Global Gaming Business magazine. Las Vegas, Nevada.
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