The Polish entities are negotiating with Olimpic Entertainment Group and Century Casinos, the owner of the remaining stake of Casinos Poland.

PPL and LOT are negotiating to sell 66.6 percent of Casinos Poland . The stake is evaluated at PLN 100 million, akin to $29.7 million.

“Talks concern the final price and conditions. Today, the casino is not only its assets but also its brand, market share, buildings, especially the Marriott hotel in Warsaw plus its license”, a person engaged in negotiations said.

Casinos Poland runs seven casinos and has 50 percent of the market, according to market researchers.
Olympic Entertainment Group (OEG) listed in Tallin and Warsaw has the best chance for the acquisition, unofficial sources say.

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“The company has said it is interested in the stake of Casinos Poland from PPL and LOT”, Cezary Gzika, Olympic Casino Poland, OEG’s subsidiary CEO said.
Two years ago, Century Casinos Inc. increased its bet on the growing European gaming industry , agreeing to buy a one-third interest in seven Polish casinos.

The Colorado Springs-based company paid $8.62 million for the stake in Casinos Poland Ltd., which owns casinos inside top-rated hotels in major Polish cities. The deal is expected was completed on Sept. 30, 2006, and was approved by the Polish government.

Century shares ownership with LOT Polish Airlines and the Polish Airport Authority. The casinos generated $41.2 million in revenue last year, which Century said is about half of all gaming revenue generated by 27 casinos now operating in Poland.

"We are excited about this unique opportunity to enter the Polish casino market and look forward to building on Casinos Poland's success and further expand and diversify Century Casinos' earnings stream," said Peter Hoetzinger, Century's president and co-chief executive.



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