Crown Casino agrees to buy out Century Casinos' management agreement for $4 million in cash.DENVER--(BUSINESS WIRE)--Jan. 25, 1995--Century Casinos Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CNTY CNTY County CNTY country (US DoD) ) Wednesday announced that it has entered into an agreement with Crown Casino Corp. (NASDAQ:DICE) which allows Crown to buy out Century Casinos' management agreement with St. Charles Gaming Co. Inc. ("SCGC SCGC Sugar Cane Growers Cooperative of Florida SCGC Saginaw County Governmental Center (Saginaw, Michigan) "), a Crown subsidiary. The agreement between Crown and Century provides that SCGC will buy out its management agreement with Century for a price of $4 million in cash. The buyout will be payable upon the earlier of 30 days from the approval by the Louisiana Gaming Commission of SCGC's transfer of its gaming license to a site in Lake Charles Lake Charles, city (1990 pop. 70,580), seat of Calcasieu parish, SW La.; inc. 1867. It is located on Lake Charles at the mouth of the Calcasieu River in a rice, timber, oil, and natural gas region. , La., or within three days of the execution of a definitive agreement between SCGC and its new partner, Louisiana Riverboat riv·er·boat n. A boat suitable for use on a river. Gaming Partnership. James Forbes, president of Century, stated, "We are pleased with this buyout. It will increase our company's ability to finance existing projects and to pursue further opportunities." CONTACT: Century Casinos Inc., Denver James Forbes, 303/388-5848 |
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