Century Casinos announces launch of iGaming offered by its Mountaineer Casino, Racetrack & Resort in West Virginia

Rhea-AI Summary

Century Casinos, Inc. (CNTY) has successfully launched online casino platforms in West Virginia through partnerships with Rush Street Interactive and William Hill. This follows the West Virginia Lottery's approval, with BetRivers.com going live on April 12 and William Hill Casino on April 13. Each of the state's five casinos can offer online gaming, with Century's Mountaineer Casino holding licenses for three iGaming skins. Revenue sharing agreements will benefit Mountaineer Casino through net gaming revenue and a one-time fee.

Positive

• Launch of online casino platforms increases potential revenue streams.
• Partnerships with established brands like Rush Street Interactive and William Hill enhance market presence.
• Revenue-sharing agreements will provide ongoing income from iGaming activities.

Negative

• None.

COLORADO SPRINGS, Colo., April 14, 2021 /PRNewswire/ -- Century Casinos, Inc. (Nasdaq Capital Market®: CNTY) ("Century Casinos" or the "Company") announced today that the Company's partners Rush Street Interactive and William Hill launched their online casino platforms in West Virginia using Mountaineer Casino, Racetrack & Resort's license.

Following the approval by the West Virginia Lottery, Rush Street Interactive launched its online casino BetRivers.com on April 12, William Hill Casino launched on April 13.

The West Virginia Lottery Interactive Wagering Act, which became law on March 27, 2019, legalizes online casino gambling in West Virginia. It provides one iGaming license for each of the five casinos in the Mountain State, and three iGaming skins per iGaming license. Century's Mountaineer Casino, Racetrack & Resort has agreements with William Hill for two of its iGaming skins and with Rush Street Interactive for one skin. Pertaining to these agreements, Mountaineer Casino, Racetrack & Resort receives a portion of net gaming revenues derived from iGaming in addition to a one-time fee.

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 four ship-based casinos. 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 online casinos were launched by Century Casinos in West Virginia?

Century Casinos launched BetRivers.com by Rush Street Interactive and William Hill Casino in West Virginia.

When were the online casinos launched in West Virginia?

BetRivers.com launched on April 12, 2021, and William Hill Casino launched on April 13, 2021.

What is the significance of the West Virginia Lottery Interactive Wagering Act?

The act legalizes online casino gambling in West Virginia and allows casinos to offer multiple iGaming skins.

How does Century Casinos benefit from its online gaming partnerships?

Century Casinos will receive a portion of net gaming revenues and a one-time fee from its partnerships with Rush Street Interactive and William Hill.

What is the stock symbol for Century Casinos?

The stock symbol for Century Casinos is CNTY.