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Century Casinos Results Up

CRIPPLE CREEK, Colorado – (PRESS RELEASE) -- For the quarter ended March 31, 2004, Century Casinos, Inc. (Nasdaq: CNTY) reported a 20% increase in net earnings to $904,000, or $0.07 per share from $755,000, or 0.06 per share for the same period of 2003. The Company also reported a 10% increase in net operating revenue to $8,130,000 in 2004 from $7,381,000 in 2003. EBITDA* (earnings before interest expense, income taxes, depreciation and amortization) reported for the first quarter of 2004 was $2,374,000 compared to $2,339,000 reported in 2003.

"We continue to commit resources to further improve the experience of our customers at both Womacks and Caledon," said Erwin Haitzmann, Chairman and CEO. "We are delighted about the progress we have made with our Edmonton (Alberta, Canada) project and look forward to cooperating with the Alberta gaming authorities to complete the licensing process," Haitzmann continued.

Casino revenue reported by Womacks was $4,875,000 for the quarter compared to $5,293,000 reported for 2003. Casino costs were down marginally as a result of lower revenues. General and administrative expense decreased $38,000, or 4% in this quarter when compared to 2003. Depreciation was $305,000 compared to $352,000 in the same period 2003.

Caledon's casino revenue increased by 46% to $2,778,000 compared to $1,904,000 reported in the first quarter 2003. Improvement in the Rand versus the dollar when comparing the first quarter of last year to the current year has had a positive impact on the reported revenues and a negative impact on expenses. Excluding the effect of the Rand/US Dollar exchange rate, casino revenue increased by 18.8%. The increase is attributable to successful management efforts. Casino costs have increased 39% which is in line with higher revenue. General and administrative expense for Caledon increased $143,000, or 43% in this quarter when compared to 2003. Depreciation was $321,000 compared to $239,000 in the same last year period.

The Company will post a slide show presentation of the Results of Operations for the first quarter of 2004 on its web site at www.centurycasinos.com on Friday, May 14, 2004.

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