Century Casinos, which recently completed its withdrawal from the South African gaming market, has announced that the new Polish Gaming Law is expected to substantially reorganize and restructure the gaming market in Poland from January 1, 2010. Century Casinos holds a one-third ownership interest in Casinos Poland Ltd., who is operating seven full casinos and one slot arcade in Poland.

Under the new legislation, all licenses for slot arcades and low-wager betting machines outside casinos will be phased out. Within the next six years, approximately 250 slot arcades, operating approx. 10,000 slot machines, as well as all low denomination slot machines will disappear from the market due to the expiration of the underlying licenses. The operation of slot machines will be permitted in casinos only (up to 70 slot machines per casino).

The new law also introduces strict new six-year state licenses for casinos, higher gaming taxes (50% instead of currently 45%) as well as higher fees for the gaming sector. Except for duly organized poker tournaments, poker cash games will be prohibited.

With regard to the legislation process and content of the new law, Poland's constitutional court is now to rule whether the newly adopted law is "in line with the constitution". Therefore, future amendments or a suspension of the new law are considered to be theoretically possible. (E-12.11.09)

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