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Century Casinos to sell land and building in Calgary

13 January 2022

(PRESS RELEASE) -- Century Casinos, Inc., announced today that its subsidiary Century Resorts Alberta, Inc. entered into a definitive agreement on 12 January 2022 to sell the land and building it owns in Calgary, Alberta, Canada to Rowanwood Financial Properties Ltd. for CAD 8.1 million ($6.5 million based on the exchange rate on January 12, 2022). The Buyer has paid CAD 0.7 million related to the sale; the remaining CAD 7.4 million will be paid upon closing, subject to adjustments for property taxes and other revenues and expenses relating to the property.

On December 1, 2020, CRA sold the casino operations of Century Casino Calgary located on the property and leased the portion of the property containing the casino premises to the purchaser. CRA continues to operate Century Sports, a sports bar, bowling and entertainment facility located on a portion of the property. Upon closing, CRA will stop operating Century Sports and will transfer the lease agreement for the casino premises to the Buyer.

The transaction is expected to close within 30 days.

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