Century Casinos Sells Prague Business

16 February 2009

The president of Viva Casino Group has purchased Century Casino Millennium in Prague for $2.2 million, Century Casinos Inc. announced last week.

The casino, located in a Marriott Hotel, reported an average annual earnings before interest, taxes, depreciation and amortization of less than $200,000 during the last three years, according to Century Casinos, and generated less than 3 percent of the company's total annual net operating revenue.

According to Colorado-based Century Casinos, the company has already received $1.4 million for Century Casino Millennium and expects to receive $800,000 within the next 12 months.