The Austrian company, Century Casinos Europe has entered into an agreement to acquire 100 per cent of G5 Sp. z...
The Austrian company, Century Casinos Europe has entered into an agreement to acquire 100 per cent of G5 Sp. z o.o., a Polish company, which holds 33.3 per cent of all issued and outstanding shares of Casinos Poland Ltd. for EUR 3.83 million. The company plans to expand and enter into the Polish market.
In 2005, Century Casinos Europe, the Austrian subsidiary of Century Casinos, noted a EUR 9.25 million rise in revenues, 4.7 per cent more than in 2004.
Even if Century Casinos takes over a 33-per-cent stake, this will not involve significant changes for the company as such a number of shares will not grant Century Casinos control over Casinos Poland, according to Przemyslaw Tomaszewski, president of Casinos Poland.
The transaction has to be yet approved by The Office of Consumer Protection (UOKiK).
Casinos Poland has seven casinos and one slot arcade, situated in major cities in four and five star
hotels throughout Poland, generated net operating revenues of PLN 127,000,000 (EUR 31,750,000 ) in 2005.