Century Casinos Partners with bet365 for Internet Sports Betting in Colorado
COLORADO SPRINGS, Colorado, May 19, 2020 /PRNewswire/ -- Century Casinos, Inc. (Nasdaq Capital Market®: CNTY) ("Century Casinos" or the "Company"), announced today that it has finalized an agreement with bet365 to become the company's second internet sports betting operator partner in Colorado. The Company, through a subsidiary, has already obtained its master license with the State of Colorado. bet365 will complete the necessary application and approval process with the State of Colorado. They will operate an internet and mobile sports betting application under the bet365 brand.
The online sportsbook operations agreement with bet365 is a 10-year agreement that includes a minimum annual revenue guarantee and a percentage share of net gaming revenue payable to the Company each year, with an advance fee being paid on contract signing.
The Company has one more master license available for an internet sports betting partnership in Colorado.
About bet365:
bet365 is the world's largest online sportsbetting company with annual sportsbook revenues of almost $4 billion and over 4,600 employees. bet365 offers the industry's widest range of 'in-play' sports betting events with around 75 sports covered and over 190,000 events being live video streamed annually on the bet365 sites, offering customers the ability to watch those sports events whilst betting. The bet365 brand is licensed and regulated in multiple jurisdictions including New Jersey, Great Britain, Denmark, Spain, Italy, Ireland, Sweden, Greece, Cyprus, Malta, Gibraltar and Australia and has multiple other license applications pending or in process. bet365 has extensive experience at working with local licensing, regulatory and reporting requirements and pays substantial duties and license fees in each of those jurisdictions. bet365 is recognized as an industry leader and has been the winner of many industry awards including the eGamingReview Operator of the Year and Sportsbetting Operator of the Year, and is currently rated #1 in the eGR Power 50' as a result of its reputation and influence within the industry.
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, in Calgary and 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, 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 certain "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. Forward-looking statements may be identified by words such as "expect," "anticipate," "believe," "intend," "estimate," "plan," "target," "goal," or similar expressions, or future or conditional verbs such as "will," "may," "might," "should," "would," "could," or similar variations. 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 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. While there is no assurance that any list of risks and uncertainties or risk factors is complete, below are certain factors which could cause actual results to differ materially from those contained or implied in the forward-looking statements including: risks related to the sports betting business; the timing for commencement of the sports betting business; the possibility that the anticipated operating results and other benefits of the sports betting business are not realized when expected or at all; local risks including proximate competition, potential competition and legislative and regulatory risks; and other risks described in the section entitled "Risk Factors" under Item 1A in the Company's Annual Report on Form 10-K for the year ended December 31, 2019 and in subsequent periodic and current SEC filings the Company 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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