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Century Casinos Awarded Casino License in South Africa

The gaming license is the only one that may be awarded in the Overberg region and is one of only 5 licenses that will be issued within the Western Cape province -- a province with a population of over four million. The Company anticipates the casino opening in October of this year.

The award of the license follows the earlier receipt of Successful Applicant status and the subsequent satisfaction by the joint venture of the financial and procedural conditions required by the Gaming Board.

Century Casinos anticipates that it will invest approximately $3.9 million for 50% of the project and will have a 10-year casino management agreement with multiple10-year extension rights.

"This is a very exciting project for us as construction will commence almost immediately leading to the opening of the casino within a relatively short period of time," said Erwin Haitzmann, Chairman and CEO of Century Casinos, Inc. "The site offers tremendous potential for future expansion which, viewed with the tourism counts, provincial demographics and the excellent location within the beautiful Overberg region, leads us to believe that this has the makings of being a very special hotel/casino resort development."

In developing the project, Century has joined forces with Fortes King Hospitality Group (a local hotel ownership and management group) and with two local empowerment groups -- the Overberg Community Trust and the Overberg Empowerment Company. Additional financing for the project has been provided by PSG Investment Bank, a South African bank, for approximately $9 million. "We too are very excited about this project and look forward to working with Century Casinos," said Kevin King, joint CEO of Fortes King Hospitality Group. "We believe that Century's professionalism and gaming expertise combined with our hotel operations experience in this region will provide the synergies necessary for a top-notch development."

The project is located on over 230 hectares (approximately 600 acres) of land adjacent to the N-2 highway, the main thoroughfare between Capetown and Durban. This highway is known as the Garden Route, passing through the beautiful and diverse Overberg Region -- an established tourist area known for its popular coastal towns, whale watching and wineries.

Caledon, located in the heart of the Overberg, is home to a 100 year-old annual wild flower show and a well-known 200 year-old national landmark with mineral hot springs located on the project site. The total cost for phase one of the project is anticipated to be approximately $16 million (U.S. dollars) and includes a casino with approximately 250 machines and 12 gaming tables, the refurbishment of an existing 100-room hotel and a spa built around the mineral hot springs on the site.

Also planned in this phase are 5 restaurants, 2 bars, a swimming pool, a childrens' activity center, tennis courts, a village emporium including shops showcasing local crafts and products, and access to bike and 4X4 trails.

Plans for phase two include an 18-hole championship golf course, potential casino expansion, additional hotel rooms (potentially 500) and up to 350residential units around the golf course. The project also has the potential for development of an amphitheatre, a gas station, a vineyard and a small shopping center.

About Century Casinos, Inc.

Century Casinos is an international casino company led by a team of gaming industry professionals who have developed and operated more than 100 casinos in 25 different countries. The Company owns and operates Womacks Casino in Cripple Creek, Colorado and manages the Millennium Casino in Prague, Czech Republic, located in Prague's new Marriott Hotel.

The Company is currently pursuing other international projects including the Caledon project mentioned in this press release. The address for corporate headquarters is 200 E. Bennett Ave (P.O. Box1006), Cripple Creek, CO 80813. Telephone: (719) 689-9100.Fax: (719) 689-9700. For more information about Century Casinos, visit theCompany's web site at http://www.cnty.com or listen to the March 16, 2000conference call via at http://www.vcall.com. Century Casinos' common stock trades on The Nasdaq Stock Market (R) under the symbol CNTY.

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