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Century Casinos Closes Second South African Casino Deal

COLORADO SPRINGS, Colorado – (PRESS RELEASE) -- Century Casinos, Inc. (Nasdaq: CNTY; VSE) announced today that the Company's South African subsidiary, Century Casinos Africa (Pty) Ltd. ("CCA"), has completed the previously announced acquisition of 60% of all issued and outstanding shares of Balele Leisure (Pty) Ltd. ("Balele"). The transaction, approved by the Kwazulu-Natal Gambling Board on March 29, has been closed effective April 1, 2006.

The purchase price for the 60% controlling stake was R57.5 million (approx. $9.3 million), with an additional R2.5 million (approx. $405,000) payable if the casino revenue during the first twelve months of operation in the new location exceeds R95 million (approx. $15.4). Furthermore, CCA entered into an agreement to manage Balele's casino, resort and hotel operations. The terms of this management agreement provide for a payment to CCA of 3.75% of total revenues, plus 7.5% of Balele's EBITDA (earnings before interest, tax, depreciation and amortization).

Balele owns the Monte Vista Casino in Newcastle, South Africa, which currently operates in a temporary location. Construction of the new, permanent casino resort, including a minimum of 220 slot machines, approx. eight table games, a 40 room hotel with conference center, restaurants, bars and spa facilities on 70 acres of land in a more visible and prominent high-traffic location, has commenced already.

The greater Newcastle area, with approx. 500,000 people, is situated half-way between Johannesburg and Durban in the northwestern portion of Kwazulu Natal, which is South Africa's most populated province with over ten million people. Balele's casino is one of only five casinos in the entire province and enjoys a regional exclusivity of approx. 130 miles.

Century Casinos, Inc. will consolidate the results of Balele in its financial statements beginning with the second quarter 2006.

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