UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15 (d) of the Securities Exchange Act of
1934
Date
of Report: December 13, 2006
(Date
of
earliest event reported: December 13, 2006)
CENTURY
CASINOS, INC.
(Exact
Name of Registrant as specified in its charter)
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Delaware
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0-22290
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84-1271317
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(State
or other jurisdiction
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(Commission
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(I.R.S.
Employer
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of
incorporation)
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File
Number)
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Identification
Number)
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1263
Lake Plaza Drive Suite A, Colorado Springs, CO
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80906
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant's
telephone number, including area code:
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719-527-8300
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Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
o Written
communication pursuant
to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting
material pursuant to
Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement
communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item
7.01 Regulation FD Disclosure.
Gauteng,
South Africa
As
previously disclosed, on September 28, 2006, the Company,
through
its majority owned subsidiary Century Resorts Ltd (“CRL”),
received
cash of approximately $5.7 million (ZAR 43.3 million) from the sale of its
interest in a casino development project to the Akani Group, an unrelated third
party. As the transaction was
subject to the approval of the Gauteng Gambling Board (“GGB”), the Company
recorded
$5.3
million (ZAR 40.3 million) as deferred income on the September 30, 2006
condensed consolidated balance sheet (the remaining $0.4 million (ZAR 3.0
million) related to the recovery of a previously written off loan). The Company
has been notified that the transaction has been approved by the GGB. In
addition, as a result of the closing of this transaction, CRL is liable for
a 3%
fee ($0.2 million or ZAR 1.2 million) to a former director of the Company.
As a
result, CRL will record pretax income of $5.1 million (ZAR 39.1 million) during
the fourth quarter 2006.
Casinos
Poland
As
previously disclosed, on
June 13,
2006, the Company, through its wholly owned subsidiary, Century Casinos Europe
GmbH (“CCE”), entered into an agreement to acquire 100% of all of the issued and
outstanding shares of G5 Sp. z o.o. (“G5”) for approximately $3.8
million
(€2.9 million). G5 owns 33.3% of all shares issued by Casinos Poland Ltd.
The
due
diligence period has been extended and the transaction is now expected to close
during the first quarter 2007.
The
information in this Current Report is being furnished
and
shall not be deemed “filed” for the purposes of Section 18 of the Exchange Act,
or otherwise subject to the liabilities of that Section. The information in
this
Current Report shall not be incorporated by reference into any registration
statement or other
document pursuant to the Securities Act of 1933, as amended, except as shall
be
expressly set forth by specific reference in such filing.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant
has
duly caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.
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Century
Casinos, Inc.
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(Registrant)
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Date:
December 13, 2006
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By
: /s/ Ray Sienko
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Ray
Sienko
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Chief
Accounting Officer
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