Wardyński & Partners advised Century Casinos
03.12.2016
Wardyński & Partners advised companies from the Century Casinos group, the holding company of which is Century Casinos, Inc., a public company listed on NASDAQ Capital Market® and the Vienna Stock Exchange (CNTY) in relation to the acquisition of 33% shareholding in Casinos Poland sp. z o.o. from Polskie Linie Lotnicze „LOT” S.A.
Casinos Poland owns and operates eight casinos throughout Poland with a total of 317 slot machines and 77 gaming tables. CPL has approximately a 43% share of the Polish casino market and is currently participating in other pending license applications.
The purchase price for the shares was approximately USD 6.8 million, financed through loans under the existing group credit agreement.
As a result of the acquisition of shares, Century Casinos increased its shareholding in Casinos Poland from 33% to 66%. Other shares are owned by State Enterprise „Porty Lotnicze”.
Legal assistance included negotiating and drawing up agreements, assistance in obtaining Ministry of Finance consent, required on the sale of shares in companies conducting gambling activities.