Century Casinos has sealed the deal with the sale of their South African Subsidiary finally fully completed. The sale means that all the assets and casinos have been signed over to Tsogo Sun Gaming and the money has been received. The final settlement of $13.4 million has been received and all the casinos have been signed over to their new ownesr.

Century Casinos has signalled that they will be using the proceeds of the sale to improve their balance sheet. They will now be looking to acquire new casinos elsewhere and also reduce their current leverage position. The casinos that have been handed over to Tsogo Sun Gaming include the Caledon Spa and Casino and also part of the Century Casion and Hotel in Newcastle.

Digg

Del.icio.us

Reddit

StumbleUpon

Email this page to a friend
Go to the Message Boards
Contact the editor