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Tsogo Sun Seeks to Overturn South African Court Decision19 February 2002CRIPPLE CREEK, Colorado –(Press Release) -- Century Casinos, Inc. (Nasdaq: CNTY) today announced that Rhino Resort Limited ("RRL") -- the entity in which the company holds a 50% ownership interest and with which the company has a long-term resort management agreement -- received notification of the filing in the High Court of South Africa by Tsogo Sun Holdings ("Tsogo") of an action seeking to overturn the decision of the Gauteng Gambling Board ("GGB") to award a casino license to RRL. Tsogo owns and operates one of the five existing casinos in Gauteng which is situated approximately 15 miles from RRL's development site. In the limited time since receipt of that notification, the company and RRL have not been able to fully assess the merits, if any, of this action by Tsogo. Rhino Resort Limited has decided to pursue all its rights under law in defending this action by Tsogo and anticipates that both the Gauteng Gambling Board and the Executive Council of the provincial government will participate in that defense. "We are confident that should this matter proceed to a hearing before the High Court, it will receive fair and proper consideration as was the case with our successful action in that same court in 1999 that set us upon the path to the award of the casino license on November 21, 2001," said Erwin Haitzmann, Chairman & CEO of Century Casinos. The company anticipates that Tsogo's action will result in a delay to the construction of the first phase of the approximately $40 million development but cannot, at this time, assess the likely extent of such delay. |