Century Casinos has entered into an agreement to sell the Century Casino Millennium in the Marriott Hotel in Prague, Czech Republic.
The total consideration payable to the company amounts to US$2.3m. Century Casino Millennium reported 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 revenues.
The closing of the transaction is contingent upon the approvals of the Ministry of Finance and of BH Centrum, the owner of the Marriott Hotel property and landlord of the Casino Millennium.
The buyer of the Century Casino Millennium is the majority shareholder and principal of the Viva Casino Group, which operates casinos in Slovenia, Romania, Bulgaria and Cyprus.
