Description Of Business

12 Months Ended

Dec. 31, 2012

Description Of Business [Abstract]

Description Of Business

1.DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION

Century Casinos, Inc. (“CCI” or the “Company”) is an international casino entertainment company. As of December 31, 2012, the Company owned casino operations in North America, managed cruise ship-based casinos on international waters, and had a management contract to manage the casino in the Radisson Aruba Resort, Casino & Spa. The Company also owns a 33.3% ownership interest in Casinos Poland Ltd (“CPL”), the owner and operator of eight casinos in Poland.

On October 11, 2012, the Company’s subsidiary Century Casinos Europe GmbH (“CCE”), signed an agreement with LOT Polish Airlines to acquire an additional 33.3% ownership interest in CPL. CCE has obtained a  required approval from the co-shareholder in CPL, Polish Airports and from the Polish Minister of Finance.Upon closing of the transaction, CCE will own a 66.6% ownership interest in CPL. The purchase price is approximately $6.9 million, and the Company intends to pay for the investment  by borrowing from the Company’s Bank of Montreal credit agreement (the “BMO Credit Agreement”).  

The Company also continues to pursue other projects in various stages of development.

Parent/Subsidiary Relationship	Abbreviation	Parent	Ownership Percentage	Country
Century Casinos, Inc.	CCI	n/a	n/a	United States
WMCK Venture Corp.	CRC	CCI	100%	United States
Century Casinos Cripple Creek, Inc.	CCC	CRC	100%	United States
WMCKAcquisition Corp.	ACQ	CRC	100%	United States
Century Casinos Tollgate, Inc.	CTI	CCI	100%	United States
CC Tollgate LLC	CTL	CTI	100%	United States
Century Casinos Europe GmbH	CCE	CCI	100%	Austria
Century Resorts International Ltd.	CRI	CCE	100%	Mauritius
Century Resorts Alberta, Inc.	CRA	CRI	100%	Canada
Century Casinos Poland Sp. z o.o.	CCP	CCE	100%	Poland
Casinos Poland Ltd.	CPL	CCP	33%	Poland
VICCO	VICCO	CCE	100%	Poland
Century Casino Calgary	CAL	CCE	100%	Canada

CCI serves as a holding company, providing corporate and administrative services to its subsidiaries.

CRC owns and operates Century Casino & Hotel in Cripple Creek, a limited-stakes gaming facility in Cripple Creek, Colorado.

CTI owns 100% of CTL.CTL owns and operates the Century Casino & Hotel, a limited-stakes gaming facility in Central City, Colorado.

CCE acquired CRI from CCI on December 31, 2012. The reorganization of CRI simplifies the Company’s corporate structure and reduces  the complexity of intercompany financing and treasury functions. CCE acquired CCP on March 12, 2007 and VICCO on September 26, 2012. CCP owns 33.3% of all shares issued by CPL. CPL owns and operates ninecasinos in Poland. CCE acquired CAL on January 13, 2010. CAL owns and operates the Century Casino Calgary, Alberta, Canada.

CRI owns 100% of CRA. CRA owns and operates the Century Casino & Hotel in Edmonton, Alberta, Canada. CRI also serves as a concessionaire of small casinos on luxury cruise vessels.