Century Casinos to Sell South African Properties for $48M
- Dec 23, 2008
Century Casinos Inc. is selling Century Casinos Africa Ltd. to Tsogo Sun Gaming Ltd., a casino and hotel resort owner and operator in Southern Africa. The Fourways, South Africa-based Tsogo Sun Gaming has agreed to a purchase price of $48 million. The properties include The Caledon Hotel Spa & Casino near Cape Town (pictured) and 60 percent of Century Casino Newcastle in Newcastle. Century Casinos is an international casino entertainment company. It owns and operates casinos in Cripple Creek, Colo., Central City, Colo., and Edmonton, Alberta, Canada.The company also operates casinos aboard a number of cruise ships. The company’s Austrian subsidiary, Century Casinos Europe GmbH, holds a 33.3 percent ownership interest in Casinos Poland Ltd, the owner and operator of seven full casinos and one slot casino in Poland. This is the second sale announced by Century Casinos this month. Early in December, the company announced the sale of the Century Casino Millennium in the Marriott Hotel in Prague for $2.3 million.