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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 | 12:04pm CEST

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 2018 166 M
EBIT 2018 15,1 M
Net income 2018 6,74 M
Debt 2018 -
Yield 2018 -
P/E ratio 2018 33,90
P/E ratio 2019 12,78
Capi. / Sales 2018 1,33x
Capi. / Sales 2019 1,12x
Capitalization 221 M
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Technical analysis trends CENTURY CASINOS, INC.
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 12,4 $
Spread / Average Target 63%
EPS Revisions
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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