Century Casinos Announces Extended Polish Casino Closures in Response to COVID-19 Pandemic

Rhea-AI Summary

Century Casinos, Inc. (Nasdaq: CNTY) announced the extension of closures for its Polish casinos until June 6, 2021, due to ongoing government-imposed quarantines amid the COVID-19 pandemic. Initially expected to reopen on May 8, 2021, the decision reflects the evolving nature of the pandemic and its adverse effects on the company, likely impacting operations into the first half of 2021. The company operates multiple casinos across North America, Europe, and holds interests in various gaming operations.

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• None.

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• Polish casinos extended closure until June 6, 2021, impacting revenue.
• Continued adverse effects from COVID-19 expected at least through the first half of 2021.

COLORADO SPRINGS, Colo., May 7, 2021 /PRNewswire/ -- Century Casinos, Inc. (Nasdaq Capital Market®: CNTY) ("Century Casinos" or the "Company") announced today that its Polish casinos would remain closed through June 6, 2021, subject to potential extensions, to comply with extended quarantines issued by the Polish government to contain the spread of COVID-19. The Company previously expected the Polish casinos would reopen on May 8, 2021.

The COVID-19 situation continues to evolve rapidly, and it currently appears that due to the pandemic's current scope it will adversely impact the Company at least through the first half of 2021.

About Century Casinos, Inc.:
Century Casinos, Inc. is a casino entertainment company. The Company owns and operates Century Casino & Hotels in Cripple Creek and Central City, Colorado, and in Edmonton, Alberta, Canada; the Century Casino in Cape Girardeau and Caruthersville, Missouri, and in St. Albert, Alberta, Canada; Mountaineer Casino, Racetrack & Resort in New Cumberland, West Virginia; the Century Mile Racetrack and Casino ("CMR") in Edmonton, Alberta, Canada; and Century Bets! Inc. ("CBS"). CBS and CMR operate the pari-mutuel off-track horse betting networks in southern and northern Alberta, respectively. Through its Austrian subsidiary, Century Resorts Management GmbH ("CRM"), the Company holds a 66.6% ownership interest in Casinos Poland Ltd., the owner and operator of eight casinos throughout Poland; and a 75% ownership interest in Century Downs Racetrack and Casino in Calgary, Alberta, Canada. The Company operates one ship-based casino. The Company, through CRM, also owns a 7.5% interest in, and provides consulting services to, Mendoza Central Entretenimientos S.A., a company that provides gaming-related services to Casino de Mendoza in Mendoza, Argentina. The Company continues to pursue other projects in various stages of development.

Century Casinos' common stock trades on The Nasdaq Capital Market® under the symbol CNTY. For more information about Century Casinos, visit our website at www.cnty.com.

This release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and assumptions of the management of Century Casinos based on information currently available to management. Such forward-looking statements include, but are not limited to, statements regarding future results of operations, including the impact of the current coronavirus (COVID-19) pandemic on its reporting and operating segments and the Company overall. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from the forward-looking statements include, among others, the risks described in the section entitled "Risk Factors" under Item 1A in our Annual Report on Form 10-K for the year ended December 31, 2020, and in subsequent periodic and current SEC filings we may make. Century Casinos disclaims any obligation to revise or update any forward-looking statement that may be made from time to time by it or on its behalf.

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SOURCE Century Casinos, Inc.

FAQ

What is the reason for the extended closure of Century Casinos' Polish locations?

Century Casinos' Polish casinos are closed until June 6, 2021, due to extended quarantines imposed by the Polish government to combat COVID-19.

When were Century Casinos' Polish casinos originally expected to reopen?

The Polish casinos were initially set to reopen on May 8, 2021.

How is the COVID-19 pandemic affecting Century Casinos' operations?

The pandemic is expected to adversely impact Century Casinos' operations at least through the first half of 2021 due to ongoing closures and restrictions.

What is the stock symbol for Century Casinos?

The stock symbol for Century Casinos is CNTY.