Century Casinos Mulls Sale Of South African Casino Resorts

Monday, Century Casinos, Inc. said it was considering the sale of part or all of its South African casino resorts, following a number a verbal indications of interest.

The company’s South African assets include 100% ownership of The Caledon Hotel, Spa and Casino in the Western Cape province and the 60% holding in Century Casino and Hotel in Newcastle, KwaZulu-Natal province. Century Casino said it has invited interested parties to submit their written expressions of interest.

The Caledon Hotel, Spa and Casino has total third-party debt of ZAR 33.64 million or about USD 4.2 million, and the Century Casino Newcastle has total debt of ZAR 51.19 million or about USD 6.4 million.

Century Casinos said it will provide an update about further developments of this potential sale in due course.

CNTY is trading up 18 cents or 7.79% at USD 2.49.