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CNTY > SEC Filings for CNTY > Form 8-K on 22-Nov-2013All Recent SEC Filings

Show all filings for CENTURY CASINOS INC /CO/

Form 8-K for CENTURY CASINOS INC /CO/


22-Nov-2013

Entry into a Material Definitive Agreement, Financial Statements and Exh


Item 1.01 Entry Into a Material Definitive Agreement

On November 18, 2012, Century Casinos Inc. (the "Company"), through its subsidiary Century Casinos Poland Sp. z o.o. ("CCP"), agreed to the terms of a PLN 12.0 million (approximately $3.9 million USD based on the exchange rate in effect on November 19, 2013) capital credit facility with BRE Bank SA ("BRE"). CCP will use the proceeds from the capital credit facility to repay the balance of the Bank Pocztowy loan related to the Casinos Poland properties, which is approximately $1.6 million, invest in slot equipment and relocate the Company's Poznan, Poland casino.

The capital credit facility has a term of 2.5 years and bears interest at a variable rate of Warsaw Interbank Offered Rate ("WIBOR") plus 1.75%. Security for the loan includes a mortgage on property owned by CCP and used as its corporate headquarters in Warsaw, Poland and a pledge of slot machines owned by CCP.

This summary of the capital credit facility is qualified in its entirety by the text of the credit facility agreement, a copy of which is attached to this Form 8-K as Exhibit 10.12 and is incorporated herein by reference.



Item 9.01 Financial Statements and Exhibits.

(c) Exhibits

10.12

Credit Facility Agreement as of November 18, 2013 by and between Casinos Poland Sp. z o.o. and BRE Bank SA.

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