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Century Casinos Completes Alberta Transactions

COLORADO SPRINGS, Colorado -- (PRESS RELEASE) -- Century Casinos, Inc. (Nasdaq: CNTY). As previously announced, Century reported plans to develop and operate a casino and hotel in Edmonton, Alberta, Canada. On February 24, 2005, the transaction closed with the company, through a wholly owned subsidiary, having contributed cash in the amount of $3.0 million Canadian dollars ($2.4 million) in return for a controlling 56.4% interest. The company's local partner, 746306 Alberta Ltd., contributed the 7.25 acre facility site and the 40 room hotel for a 43.6% interest. Century's subsidiary, Century Resorts Alberta, Inc., is in the process of finalizing funding arrangements for the project.

Century Resorts Alberta, Inc. has already received a development permit from the City of Edmonton. The project is expected to cost $27.5 million Canadian dollars ($22.2 million) and includes a casino with 600 slot machines and approximately 31 table games, food and beverage amenities, a dinner theater, a 300 space underground parking garage and an existing 40-room hotel. Pre-demolition and pre-construction works have commenced and construction is expected to take approximately fourteen months from finalization of funding arrangements.

The company is currently in the final step of the eight step licensing process. As customary, the issuance of the license will occur at the completion of construction and after all federal and provincial legislation, regulation and policies, and municipal requirements, permits, licenses and/or authorizations have been met.

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