The Viva Group, based in Turkey and with casinos in Cyprus, Romania, Bulgaria and the Siberian city of Omsk, has agreed to purchase, subject to final approval, the Century Casino Millennium in the Marriott Hotel in Prague. The sale must gain approval from owner of the Marriott property B.H. Centrum a.s. as well as the Czech Ministry of Finance.

According to the report, the total consideration payable to Century Casinos amounts to approximately US$2,300,000, plus US$1,200,000. The US$2.3 million plus US$400,000 are payable at closing and the balance of US$800,000 payable over twelve months. Century Casino Millennium has accounted for less than 3% of Century’s total annual net operating revenues, despite its 5-star location close to Prague’s major tourist attractions.

On 8 September Century announced it was considering selling part or all of the company’s South African casino resorts, The Caledon Hotel, Spa and Casino in Western Cape province and the Century Casino and Hotel in Newcastle, KwaZulu-Natal province, and had invited interested parties to submit their written expressions of interest. Three months earlier it was reported that Century was bidding to take full ownership of Casinos Poland, where its Austrian subsidiary Century Casinos Europe GmbH holds a one-third interest. At least one other casino company has expressed interest in buying the two-thirds presently held by airport operator PPL and the national airline LOT. (E-12.05.08)

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