Century Casinos has closed the sale of its Century Casino Millennium in the Marriott Hotel in Prague, Czech Republic.
An amount of around $1.4m has already been received by the company. The total consideration payable to the company amounts to approx. $2.2m. The outstanding balance of $800,000 is payable within the next 12 months.
Century Casino Millennium reported an average annual EBITDA of less than $200,000 over the last three years and generated less than three per cent of the company’s total annual net operating revenue.
The buyer of the venue is the majority shareholder and president of the Viva Casino Group, which operates casinos in Slovenia, Romania, Bulgaria and Cyprus.
