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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Century Casinos, Inc.    CNTY

CENTURY CASINOS, INC.

(CNTY)
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CENTURY CASINOS INC /CO/ : Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits (form 8-K)

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08/16/2018 | 07:04am EDT

Item 1.01 Entry into a Material Definitive Agreement.

On August 13, 2018, Century Resorts Management GmbH ("CRM"), a wholly-owned subsidiary of Century Casinos, Inc. (the "Company"), entered into a loan agreement (the "UniCredit Agreement"), by and among UniCredit Bank Austria AG ("UniCredit"), as lender, CRM, as borrower and the Company, as guarantor. The UniCredit Agreement provides a revolving line of credit for up to EUR 7.0 million ($8.0 million based on the exchange rate in effect as of August 13, 2018) to be used for acquisitions and capital expenditures at the Company's existing operations or new operations.

Borrowings may be in the form of:

a. Borrowings denominated in EUR and bearing interest at EURIBOR plus a margin of

1.5%; and/or

b. Borrowings denominated in USD and bearing interest at LIBOR plus a margin of

     1.5%.



The UniCredit Agreement is available until terminated by either party. Funds can be borrowed with terms of 1, 3, 6, 9 or 12 months. The UniCredit Agreement is secured by a EUR 7.0 million guarantee by the Company. The UniCredit Agreement contains customary events of default, including the failure to make required payments. Upon a failure to make required payments following a grace period, amounts due under the UniCredit Agreement may be accelerated.

This summary of the UniCredit Agreement is qualified in its entirety by reference to the text of the UniCredit Agreement, a copy of which is filed with this Current Report on Form 8-K as Exhibit 10.1 and is incorporated herein by reference.

Item 2.03Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The disclosure contained in "Item 1.01 Entry into a Material Definitive Agreement" of this Current Report on Form 8-K is incorporated in this Item 2.03 by reference.

Item 9.01Financial Statements and Exhibits.



(d) Exhibits




Exhibit No.                               Description
   10.1         Loan Agreement dated, August 13, 2018, by and among Century
              Resorts Management GmbH, Century Casinos, Inc. and UniCredit Bank
              Austria AG.

© Edgar Online, source Glimpses

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Financials ($)
Sales 2019 195 M
EBIT 2019 20,5 M
Net income 2019 11,3 M
Debt 2019 -
Yield 2019 -
P/E ratio 2019 26,10
P/E ratio 2020 14,26
Capi. / Sales 2019 1,31x
Capi. / Sales 2020 1,20x
Capitalization 256 M
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Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 11,5 $
Spread / Average Target 32%
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Managers
NameTitle
Erwin Haitzmann Chairman & Co-Chief Executive Officer
Peter Hoetzinger Vice Chairman, President & Co-CEO
Andreas Terler Chief Information Officer & VP-Operations
Nikolaus Strohriegel VP-Operations & Managing Director-CRM
Margaret M. Stapleton Chief Financial Officer, Secretary, CAO & EVP
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