Century Casinos Secures Loan

Century Casinos, Inc. announced today that its subsidiary, Century Casinos Caledon (Pty) Limited ("CCAL"), signed a term loan agreement with Nedbank Limited ("Nedbank") and received 60.0 million Rand (US$9.3 million). These funds will be used to refinance the existing loan from ABSA Bank, to provide additional working capital for and fund the expansion of the Caledon Casino and to fund further growth in South Africa.

The Nedbank loan is payable in monthly installments of 1.3 million Rand, due on the first day of each month. The loan matures on January 9, 2010, at which time any outstanding principal and interest will be due. The interest rate on the loan will be the South African Prime Rate minus 1.5% and is secured by CCAL's assets and share capital. The Company has the option to prepay the loan, without penalty, upon 90 days written notice. CCAL incurred a 1.2 million Rand prepayment penalty to settle the ABSA bank loan; however, the Company was able to reduce its overall interest rate on the related outstanding debt from 17.0% to a current 9%.

"We are pleased about this financing and about our new business relationship with Nedbank, one of the largest South African banks. With the early repayment of the ABSA loan, the Company has significantly decreased its interest rates on the outstanding amount, with the remaining funds to be used for expansion and growth," said Erwin Haitzmann, Co CEO and Chairman of the Board for Century Casinos, Inc.