SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-KSB

              ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934


For  the fiscal year ended:  December 31, 2000    Commission File No. 0-22290
--------------------------                        ------------------

                              CENTURY CASINOS,  INC.
                             -----------------------
                 (Name of small business issuer in its charter)

                 Delaware                            84-1271317
     ---------------------------------------------------------------------------
     (State  or  other jurisdiction of      (I.R.S. Employer Identification No.)
           incorporation  or  organization)

                200 - 220 E. Bennett Ave., Cripple Creek, CO 80813
              ----------------------------------------------------
             (Address of principal executive offices) (Zip code)

                                (719) 689-9100
                               ---------------
                (Issuer's telephone number, including area code)

   Securities Registered Pursuant to Section 12(b) of the Exchange Act:  None.
      Securities Registered Pursuant to Section 12(g) of the Exchange Act:

                          Common Stock, $.01 Par Value
                          ----------------------------
                               (Title of classes)

Check  whether  the issuer (1) filed all reports required to be filed by Section
13  or  15(d) of the Exchange Act during the past 12 months (or for such shorter
period  that the registrant was required to file such reports), and (2) has been
subject  to  such  filing requirements for the past 90 days.  Yes [ X ]  No [ ]

Check  if there is no disclosure of delinquent filers in response to Item 405 of
Regulation  S-B  contained  in this form and no disclosure will be contained, to
the  best  of  Registrant's  knowledge,  in  definitive  proxy  or  information
statements  incorporated  by  reference  in  Part III of this Form 10-KSB or any
amendment  to  this  Form  10-KSB.  [  X  ]

State  the  issuer's  revenues  for  its  most  recent fiscal year:  $29,009,038

The  aggregate market value of the voting common stock held by non-affiliates of
the  Registrant  on March 23, 2001, was approximately $17,066,541 based upon the
average  of  the  reported range of sale price of such shares on Nasdaq for that
date.  As  of  March  23,  2001,  there  were  13,873,684 shares of common stock
outstanding.

DOCUMENTS INCORPORATED BY REFERENCE: Part III incorporates by reference from the
Registrant's  Definitive  Proxy  Statement  for  its  2001  Annual  Meeting  of
Stockholders  to  be  filed  with the Commission within 120 days of December 31,
2000.


                                        1
<PAGE>
Item  1.     Business.
-------      --------

GENERAL

     Century Casinos, Inc. and its subsidiaries (the "Company"), own and operate
a  limited-stakes  gaming  casino in Cripple Creek, Colorado, manage a casino in
the  Marriott  Hotel  in  Prague, Czech Republic, own 65% of, is developing, and
manages  a  hotel  and  casino  resort  in  Caledon,  South  Africa,  serve  as
concessionaire  of  small  casinos on luxury cruise vessels and regularly pursue
gaming  opportunities internationally and in the United States. Prior to July 1,
1996,  the  Company's  operations  in  Cripple Creek consisted of Legends Casino
("Legends"),  which the Company had acquired on March 31, 1994, through a merger
with  Alpine Gaming, Inc. ("Alpine").  On July 1, 1996, the Company acquired the
net  assets of Gold Creek Associates, L.P. ("Gold Creek"), the owner of Womack's
Saloon  &  Gaming  Parlor ("Womacks"), which was adjacent to Legends.  Following
the  acquisition  of  Womacks,  both  properties  were  renovated  to facilitate
operation  and marketing of the combined properties as one casino under the name
"Womacks/Legends  Casino."  The Company's operating revenue for 1999 was derived
principally  from  its casino operations in Cripple Creek. In the year 2000, the
acquisition  of  Caledon Casino Hotel & Spa has contributed significant revenues
to  the  consolidated  results  of  the  Company  as  reported  in Note 7 of the
Consolidated  Financial  Statements.  See  the Consolidated Financial Statements
and  the  notes  thereto  included  herein.

     The  Company  was  formed in 1992 to acquire ownership interests in, and to
obtain management contracts with respect to, gaming establishments.  The Company
was  founded  by a team of career gaming executives who had worked primarily for
an Austrian gaming company that owned and operated casinos throughout the world.
The  Company,  formerly  known  as Alpine, is a result of a business combination
completed  on March 31, 1994, pursuant to which Century Casinos Management, Inc.
("Century  Management")  shareholders  acquired  approximately  76%  of the then
issued  and  outstanding  voting stock of the Company, and all officer and board
positions  of  the  Company  were  assumed  by  the  management  team of Century
Management.  Effective  June  7,  1994,  the  Company reincorporated in Delaware
under  the  name  "Century  Casinos, Inc."  Because the Company is the result of
this  transaction, the Company's business has been combined with that of Century
Management, and references herein to the Company refer to the combined entities,
unless  the  context  otherwise  requires.

     Information  contained  in  this  Form  10-KSB  contains  forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of
1995,  which  can  be  identified  by  the  use of words such as  "may," "will,"
"expect,""anticipate,"  "estimate"  or  "continue,"  or  variations  thereon  or
comparable  terminology.  In  addition, all statements, other than statements of
historical  facts,  that  address  activities,  events  or developments that the
Company  expects,  believes  or anticipates will or may occur in the future, and
other  such  matters,  are  forward-looking  statements.

     The  future  results  of  the  Company  may  vary  materially  from  those
anticipated  by  management,  and may be affected by various trends and factors,
which  are  beyond  the  control  of  the  Company.  These  risks  include  the
competitive  environment in which the Company operates, the Company's dependence
upon  the  Cripple  Creek,  Colorado  gaming market, the effects of governmental
regulation  and  other  risks  described  herein.


                                        2
<PAGE>
Property  and  Project  Descriptions

     Womacks/Legends  Casino,  Cripple  Creek,  Colorado.

     On July 1, 1996, the Company purchased substantially all of the assets, and
assumed  substantially  all  of  the  liabilities,  of  Gold Creek, the owner of
Womacks  in Cripple Creek, Colorado. Following the Company's acquisition of Gold
Creek,  the Womacks property was consolidated with the Company's Legends Casino,
and  the  combined  properties have been operated and marketed since then as one
casino  under  the name "Womacks/Legends Casino." Management implemented certain
consolidation,  expansion  and capital improvement programs. The Company created
openings  in the common walls in order to open up and integrate the gaming areas
of  Legends and Womacks; expanded the existing player tracking system of Womacks
to  include  all  of  the  Legends  gaming  devices;  made  general  interior
enhancements;  and  installed  additional  gaming  devices  and  replaced  older
generation  equipment.

     Womacks/Legends  Casino  is  located  at  200 to 220 East Bennett Avenue in
Cripple  Creek, Colorado. The lots comprising 200 to 210 East Bennett Avenue are
owned  by  wholly-owned  subsidiaries of the Company and are collateralized by a
first  mortgage  held  by  Wells  Fargo  Bank.  See  Note  5 to the Consolidated
Financial  Statements  for  further  information.

     The  Company  holds  a  subleasehold  interest  in  the  real  property and
improvements  located  at 220 East Bennett Avenue.  The sublease, as assigned to
WMCK-Acquisition  Corp.,  provides  for  monthly rental payments of $16,000, and
expires  on  June  20,  2005  unless  terminated  by the Company with 12 months'
advance  notice.  The  Company  has  an  option  to  acquire the property at the
expiration  of  the  sublease  at  an  exercise  price  of  $1,500,000.

     In  June  1998, the Company acquired 22,000 square feet of land (the "Hicks
Property")  from  an unaffiliated third party.  The property, which is zoned for
gaming,  is  adjacent to Womacks/Legends Casino.  A partially-completed building
structure  that  occupied  a portion of the land was subsequently razed, and the
entire  property  has  been improved to provide the first paved customer parking
spaces  in  the  Cripple  Creek  market.  The purchase price of $3.6 million was
financed  through the Company's revolving credit facility with Wells Fargo Bank.

                                        3
<PAGE>
     Womacks/Legends  Casino  currently  has approximately 608 slot and video
devices and  eight  gaming  tables.  Womacks/Legends  Casino has 150 feet of
frontage on Bennett  Avenue,  the main gaming thoroughfare in Cripple Creek, and
110 feet of frontage on Second Street, with approximately 40,000 square feet of
floor space.

     Management  believes  that,  in addition to providing an adequate number of
hotel rooms, an integral component in attracting gaming patrons to Cripple Creek
is  the  availability  of  adequate, nearby parking spaces.  Management believes
that  it  has  secured  adequate  parking  for the operations of Womacks/Legends
Casino. The Company presently owns or leases nearly four hundred parking spaces,
including  more  than  100  spaces that became available in May 2000 through the
purchase  of  two  nearby  parcels  of  land.

     In  1997,  the  Company exercised its purchase option to acquire three lots
(formerly  known  as  the "Wright Property"), consisting of 8,250 square feet of
land  across  the street from Womacks/Legends Casino, for $785,000 in cash. This
acquisition  provides  the  Company  with  30  additional  parking  spaces.

     The  Company  leases  99 contiguous parking spaces from the City of Cripple
Creek.  Annual  rent  payments total $90,000 and the lease agreement, as amended
on  February  17,  2000,  expires  on  May  31,  2010.  The agreement contains a
purchase option whereby the Company may purchase the property for $3.25 million,
less  cumulative  lease  payments, at any time during the remainder of the lease
term.  The  Company  has  paved  the property and currently uses it for customer
parking.

     In  March  1999, the Company entered into a purchase option agreement for a
piece  of  property,  located  in  Cripple  Creek across Bennett Avenue from its
Womacks/Legends  Casino.  The  agreement,  as amended in February 2000, provides
for  an  option  period  through  March  31,  2004 and an exercise price of $1.5
million,  less  50%  of  cumulative  option  payments through the exercise date.

     In  May  2000, the Company completed its acquisition of two parcels of land
located  near  its  Womacks/Legends  Casino  for $1.85 million.  The two parcels
provide  more  than  100  parking  spaces for casino patrons and those attending
events  held  at  the  Womacks  Events  Center,  located  adjacent  thereto.

     In  August  2000, the Company opened the Womacks Events Center located near
its  Womacks/Legends  Casino.  The  Company believes the 500-seat Womacks Events
Center  can  further increase the number of visitors to Cripple Creek and add to
the  consistent  growth experienced in the Cripple Creek gaming market.  Through
an  arrangement  with  the  City of Cripple Creek, Century intends to market the
Events  Center  as  an  additional  attraction  bringing  people to the City via
meetings, conventions, shows and other special events on a year-round basis.  As
an  additional  benefit,  the  second  floor  of the building houses much of the
Company's  administration and accounting departments thereby freeing up valuable
floor-space  in its Womacks/Legends Casino and allowing for additional hotel and
casino  expansion.


                                        4
<PAGE>
     The  Caledon  Casino,  Hotel  &  Spa  -  Caledon,  South  Africa

     An  application  for  a  casino license in Caledon, province of the Western
Cape,  was filed in October 1999 with the Western Cape Gambling and Racing Board
by Caledon Casino Bid Company (Pty) Limited ("CCBC").  The Company's subsidiary,
Century Casinos Africa (Pty) Ltd "CCA"), originally had a 50% equity interest in
CCBC, by virtue of an agreement entered into between CCA and CCBC, together with
various  affiliated  entities. In December 1999, in anticipation of a successful
application,  the  Company  entered  into a ten-year casino management agreement
with  CCBC, which agreement may be extended at the Company's option for multiple
ten-year  periods,  whereby  the  Company  will  earn  management  fees based on
percentages of annual gaming revenue and earnings before interest, income taxes,
depreciation,  amortization  and  certain  other  costs.

     On February 16, 2000,   the Western Cape Board awarded Successful Applicant
status to CCBC.     On  April 13 2000 CCBC was awarded the final license and the
Company, through CCA, invested approximately $3.8 million (based on the exchange
rate at  that time) consisting of approximately $1.5 million ( 10 million  South
African  Rands)  in  equity and $2.3 million in debt ( 15 million South  African
Rands).  In  December, 2000 the Company reported that, through a subsidiary,  it
had completed its acquisition of an additional 15% of The Caledon Casino,  Hotel
and  Spa  -  raising its ownership of the project to 65%. Terms of the agreement
included the payment of approximately  $1.8 million  U.S. Dollars by Century  to
its partners in exchange for 15% of  the total ordinary shares  of  the  project
(valued  at  approximately  $1.2 million)  and a shareholder loan to the project
previously  held  by  its  partners  (with  a  value of approximately $600,000).

     The Caledon Casino Hotel and Spa is located approximately one hour's drive
from Cape Town on approximately 600 acres (230 hectares) of land adjacent to the
N-2 highway, the main thoroughfare between Cape Town and Durban. This highway is
known as the Garden Route, passing through an established tourist area known for
its  popular  coastal  towns, whale watching and wineries.  Caledon is home to a
100  year-old  annual  wild  flower  show and a well-known 200 year-old national
landmark  with  mineral  hot  springs  located  on  the  resort  site.

     The Caledon Casino, Hotel and Spa  employs approximately 400 staff from the
neighboring  communities  and includes a casino with 250 slot/video machines and
14  tables,  a 92-room hotel, mineral hot springs facility, two restaurants, two
bars,  a  gift  shop,  conference  facilities,  an  outdoor amphitheatre and the
Outdoor  Experience  -  a corporate team building facility.  In addition, zoning
approval  has been secured for the potential future development of the resort to
include  a  championship golf course, up to 350 residential or time-share units,
possible  additional  hotel  accommodations  and  additional  retail facilities.


     Casino  Millennium,  Prague,  Czech  Republic

     In  January  1999,  the Company reached a 20-year definitive agreement with
Casino  Millennium  a.s.,  a  Czech company, and with B.H. Centrum a.s., a Czech
subsidiary  of  Bau  Holding AG, one of the largest construction and development
companies  in  Europe,  to  operate  a casino in the five-star Marriott Hotel in
Prague,  Czech  Republic.  The  Company  provides  casino management services in
exchange  for  10%  of  the  casino's  gross  revenue,  and  has provided gaming
equipment  for  45%  of the casino's net profit.  The hotel and casino opened in
July  1999.

     In January 2000, the Company entered into a memorandum of agreement to
either acquire a 50% ownership interest in Casino Millennium a.s. or to form a
new joint venture with B.H. Centrum a.s., which joint venture would acquire all
of the assets of Casino Millennium.  The Company anticipates that the
transaction will  be  completed  in  2001.


                                        5
<PAGE>

     Silversea  Cruises

     In  May  2000,  the  Company signed a five-year casino concession agreement
with  Silversea  Cruises,  a  world-renowned, six-star cruise line based in Fort
Lauderdale,  Florida.  The  agreement  gives  the Company the exclusive right to
install  and  operate  casinos  aboard  four Silversea vessels. The Company will
operate  each shipboard casino for its own account and pay concession fees based
on  gross  gaming  revenue

     Starting in late September with the new, 388-passenger Silver Shadow,
Century began its shipboard casino operations.  Within 60 days thereafter, the
Company installed casinos on the 296-passenger vessels Silver Wind and Silver
Cloud.  Century will install its fourth casino aboard the new, 388-passenger
Silver Whisper scheduled to depart on its maiden voyage in July of 2001.  The
Company anticipates  that  it  will have an approximate total of 210 gaming
positions on the  four  combined  shipboard  casinos.


     The  World  of  ResidenSea

     On August 30, 2000 Century signed a five-year casino concession agreement
with The World of ResidenSea Ltd., the owner and operator of the world's first
ocean going luxury resort, based in Freeport, Bahamas.  ResidenSea is the first
to offer private residences on board  a  ship  for  purchase by customers.  The
ResidenSea  vessel has a total of 198 suites (including 88 guest suites) ranging
in  price  from  $2  to  $7  million.

     Century will equip and operate the shipboard casino  with up to 45 gaming
positions  on the vessel that is scheduled to depart for its maiden voyage early
in  2002.  As  with the casino concession agreements with Silversea, Century has
negotiated  a  five-year concession agreement with ResidenSea, will operate each
shipboard  casino  for  its  own  account and pay concession fees based on gross
gaming revenue. In addition, the Company has a right of first refusal to install
casinos  aboard any new ships built or acquired by ResidenSea during the term of
the  agreement.


                                        6
<PAGE>
Additional  Company  Projects

     In  addition  to Womacks/Legends Casino in Cripple Creek, Colorado, Caledon
Casino,  Hotel  and  Spa in Caledon , South Africa, Casino Millennium in Prague,
Czech  Republic,  Silversea  Cruises and ResidenSea, the Company has a number of
potential  gaming  projects  in  various  stages of development.  Along with the
capital  needs of these potential projects, there are various other risks which,
if  they  materialize,  could  materially adversely affect a proposed project or
eliminate  its  feasibility  altogether. For example, in order to conduct gaming
operations  in most jurisdictions, the Company must first obtain gaming licenses
or  receive  regulatory  clearances.  To  date,  the Company has obtained gaming
licenses  or approval to operate gaming facilities in Colorado, Louisiana, on an
American  Indian  reservation  in California, the Czech Republic and the Western
Cape  province  of  South Africa.  While management believes that the Company is
licensable  in any jurisdiction, each licensing process is unique and requires a
significant  amount  of  funds and management time. The licensing process in any
particular  jurisdiction can take significant time and expense through licensing
fees,  background  investigation  costs,  fees  of  counsel and other associated
preparation  costs.  Moreover,  should  the  Company  proceed  with  a licensing
approval process with industry partners, such industry partners would be subject
to  regulatory review as well. The Company seeks to satisfy itself that industry
partners  are licensable, but cannot assure that such partners will, in fact, be
licensable.  Additional  risks before commencing operations include the time and
expense incurred and unforeseen difficulties in obtaining suitable sites, liquor
licenses, building permits, materials, competent and able contractors, supplies,
employees,  gaming  devices  and  related matters. In addition, certain licenses
include  competitive  situations where, even if the Company is licensable, other
factors  such  as  the  economic  impact of gaming and financial and operational
capabilities  of competitors must be analyzed by regulatory authorities.  All of
these risks should be viewed in light of the Company's limited staff and limited
capital.

     Also,  the  Company's ability to expand to additional locations will depend
upon  a number of factors, including, but not limited to: (i) the identification
and  availability  of  suitable  locations,  and  the  negotiation of acceptable
purchase,  lease,  joint  venture  or other terms; (ii) the securing of required
state and local licenses, permits and approvals, which in some jurisdictions are
limited  in number; (iii) political factors; (iv) the risks typically associated
with any new construction project; (v) the availability of adequate financing on
acceptable  terms;  and  (vi)  for  locations outside the United States, all the
risks  of  foreign  operations,  including  currency  controls, unforeseen local
regulations,  political  instability  and  other  related  risks.  Certain
jurisdictions  issue  licenses  or  approval  for  gaming operations by inviting
proposals  from  all interested parties, which may increase competition for such
licenses or approvals.  The development of dockside and riverboat casinos in the
United  States  of America may require approval from the Army Corps of Engineers
and  will be subject to significant Coast Guard regulations governing design and
operation.  Most  of  these factors are beyond the control of the Company.  As a
result,  there  can  be  no assurance that the Company will be able to expand to
additional  locations  or, if such expansion occurs, that it will be successful.
Further, the Company anticipates that it will continue to expense certain costs,
which  have  been  substantial in the past and may continue to be substantial in
the  future,  in  connection  with  the  pursuit  of  expansion  projects



                                        7
<PAGE>


The  following  describes  other  activities  of  the  Company.

     South Africa - Legislation enacted in 1996 in South Africa provides for the
award  of  up to 40 casino licenses throughout the country. To date, the Company
has  entered  into agreements with various local consortia to provide consulting
services  during  the  application  phase, as well as casino management services
should  the  Company's  partners  be  awarded  one  or  more  licenses.

     Under  South African gaming legislation passed in 1996, six casino licenses
were  allocated  to  the  province  of  Gauteng  -  primarily  for  the  Greater
Johannesburg  area.  Silverstar  Development Ltd., a consortium owned by trusts,
corporations  and individuals from the province, chose Century Casinos as equity
and  management partner for its proposed 1,000 gaming position casino, hotel and
entertainment  resort  in  the  West  Rand  region  (western  portion of greater
Johannesburg). Since joining forces more than four years ago, Century has helped
Silverstar  work  through  a  series of legal issues regarding the award of this
gaming  license  -  culminating  in  March 2000 with Silverstar entering into an
agreement  with  the competing license applicant. This agreement has settled all
past claims and has brought both parties together in an effort to jointly secure
the  sixth  and  final gaming license in the province. In a process entered into
with  the Gauteng Gambling Board for their consideration of the amended proposal
for  a  casino  license,  the  parties  jointly  filed  the  requisite amendment
application.  There  can  be no certainty regarding the award of this license or
that  this  license  will  ultimately be awarded to the consortium Silverstar is
part  of.

Riverboat Development Agreement - Indiana.  - In December 1995, the Company sold
its  80%  interest  in  Pinnacle  Gaming  Development  Corp.  ("Pinnacle") to an
affiliate  of  Hilton Gaming Corporation and Boomtown, Inc. ("Hilton/Boomtown").
Pinnacle had been pursuing a riverboat gaming license application in Switzerland
County, Indiana. Upon signing the agreement, the Company received a cash payment
of  $80,000 and recognized a gain on the sale of its investment of $26,627.  The
agreement provided for additional payments to the Company upon the occurrence of
certain  events.  In  September  1998,  the  Indiana Gaming Commission awarded a
Certificate  of  Suitability  to  Pinnacle  to  conduct  riverboat  gaming  in
Switzerland  County that resulted in the Company receiving a payment of $431,000
in the third quarter of 1998.  The Company also received a payment of $1,040,000
in the third quarter of 1999 upon "groundbreaking" of the project. Additionally,
the  Company  was  entitled to receive installment payments of $32,000 per month
for  the  first  60  months  of  the riverboat's operation; however, the Company
elected  to  receive  an  aggregate  discounted  amount of $1,380,000, which was
received  and  recorded  as  income  in  January  2000.

                                        8
<PAGE>
Revolving  Credit  Facility

     In  March  1997,  the  Company  entered  into a four-year revolving line of
credit  facility  (the  "RCF")  with  Wells Fargo Bank ("Wells Fargo").  Various
provisions  of  the  RCF were subsequently amended, including an increase in the
facility  to  $20  million  in 1998 and an increase to $26 million in April 2000
whereby  the  line of credit decreases quarterly beginning in the fourth quarter
of  2000.  At  December  31, 2000, the maximum available under the RCF was $25.3
million.  An  annual  commitment  fee  of  between  three-eighths  and  one-half
percent,  payable  quarterly,  is charged on the unused portion of the RCF.  The
RCF also contains an interest rate matrix that ties the interest rate charged on
outstanding  borrowings to the Company's leverage ratio, as defined.  Largely as
a  result  of  an  improvement  in  the  Company's leverage ratio, the Company's
consolidated  weighted-average  interest  rate  on all borrowings decreased from
8.64%  in  1999  to  8.58%  in 2000.  At December 31, 2000, the Company's unused
borrowing  capacity  under the RCF was approximately $6.6 million.  A portion of
the  proceeds  of  borrowings  under the RCF was used for the development of The
Caledon  Casino,  Hotel  &  Spa.  The RCF is secured by substantially all of the
real and personal property of Womacks/Legends Casino. Under the RCF, the Company
is required to comply with certain customary financial covenants, and is subject
to  certain  capital  expenditure  requirements and restrictions on investments.
See  Note  5  to  the Consolidated Financial Statements for further information.


Marketing  Strategy

Womacks/Legends  Casino  -  The  marketing  strategy  of  Womacks/Legends Casino
highlights  promotion  of  Womacks  Gold  Club,  a  players club with a database
containing profiles on nearly 50,000 members. Gold Club members receive benefits
from  membership, such as cash, merchandise, food and lodging. Those who qualify
for  VIP  status  receive  additional  benefits  in  addition  to  regular  club
membership.  Status  is  determined  through  player  tracking.  Members receive
information about upcoming events and parties, and, depending on player ranking,
also  receive  invitations  to  special  events  and  monthly  coupons.

Caledon  Casino,  Hotel  &  Spa  -  As  with Womacks Casino described above, the
marketing  strategy  of  The Caledon Casino, Hotel & Spa highlights promotion of
its  players  club  and  building its player information database.  Players club
members  receive benefits such as cash, merchandise, food and lodging. Those who
qualify  for  VIP status receive additional benefits in addition to regular club
membership.  Status  is  determined  through  player  tracking.  Members receive
newsletters  of  upcoming  events and parties, and, depending on player ranking,
also  receive  invitations  to  special  events  and  monthly  coupons.


Market  Data

The  Cripple  Creek  Market  -  Cripple  Creek  is a small mountain town located
approximately  45 miles southwest of Colorado Springs on the western boundary of
Pikes Peak.  Cripple Creek is an historic mining town, originally founded in the
late  1800's following a large gold strike.  Cripple Creek is a tourist town and
its  heaviest  traffic  is in the summer months.  Traffic generally decreases to
its  low  point  in  the  winter  months.

Cripple  Creek  is one of only three Colorado cities, exclusive of Indian gaming
operations,  where  casino  gaming  is  legal,  the  others being Black Hawk and
Central City. Cripple Creek operated approximately 29% of the gaming devices and
generated  21%  of  gaming revenues for these three cities during the year ended
December  31, 2000.  As of December 31, 2000, there were 19 casinos operating in
Cripple  Creek.

                                        9
<PAGE>
The  tables  below  set forth information obtained from the Colorado Division of
Gaming  regarding  gaming  revenue  by  market and slot machine data for Cripple
Creek  from calendar 1997 through 2000. This data is not intended by the Company
to  imply,  nor  should  the  reader  infer, that it is any indication of future
Colorado  or  Company  gaming  revenue.

<TABLE>
<CAPTION>


                                         GAMING  REVENUE  BY  MARKET

(IN $000'S)
<S>              <C>        <C>          <C>        <C>          <C>       <C>          <C>       <C>
                               % change             % change               % change               % change
                                Over                   Over                  Over                    Over
                    1997      Prior Year    1998     Prior Year    1999    Prior Year     2000     Prior Year
                 --------------------------------------------------------------------------------------------
CRIPPLE CREEK    $ 108,628       5.1%    $ 113,230       4.2%    $122,385       8.1%    $133,328       8.9%

Black Hawk       $ 234,631       6.7%    $ 272,008      15.9%    $354,474      30.3%    $430,720      21.5%

Central City     $  87,391      -1.7%    $  93,980       7.5%    $ 73,742     -21.5%    $ 63,380     -14.1%
                 --------------------------------------------------------------------------------------------
COLORADO TOTAL   $ 430,650       4.5%    $ 479,218      11.3%    $550,601      14.9%    $627,428      14.0%
</TABLE>
<TABLE>
<CAPTION>


                                        CRIPPLE CREEK SLOT DATA
(IN $000'S)
<S>                       <C>        <C>          <C>        <C>          <C>       <C>          <C>       <C>
                                    % change                % change                   % change                 % change
                                     Over                      Over                      Over                     Over
                          1997     Prior Year      1998      Prior Year     1999      Prior Year    2000        Prior Year
                          ------------------------------------------------------------------------------------------------
Total Slot Revenue     $ 102,798     6.0%        $ 107,690      4.8%       $117,161      8.8%      $128,198         9.4%
(in $'000)

Average Number
Of Slots                   4,507     8.0%            4,369     -3.1%          4,046     -7.4%         4,106         1.5%

Average Win Per
Slot Per Day                  62    -1.6%               68      8.1%             81     19.9%            85         4.7%
</TABLE>

Gaming  in  Colorado  is "limited stakes," which restricts any single wager to a
maximum  of  $5.00.  While  this  limits  the  revenue potential of table games,
management believes that slot machine play, which accounts for over 96% of total
gaming  revenues, is currently impacted only marginally by the $5.00 limitation.

The  Company  faces  intense  competition  from  other casinos in Cripple Creek,
including  a  handful of casinos of similar size and many other smaller casinos.
There can be no assurance that other casinos in Cripple Creek will not undertake
expansion  efforts  similar  to  those  recently  taken  by the Company, thereby
further increasing competition, or that large, established gaming operators will
not  enter the Cripple Creek market.  The Company seeks to compete against these
casinos  through promotion of Womacks Gold Club and superior service to players.
Management  believes that the casinos likely to be more successful and best able
to  take  advantage  of the market potential of Cripple Creek will be the larger
casinos  that  have  reached  a  certain  critical  mass.

                                       10
<PAGE>

<TABLE>
<CAPTION>


                                           CENTURY CASINOS' PROPERTY IN CRIPPLE CREEK
                                                 ( "WOMACKS/LEGENDS CASINO")
                                                        (IN $000'S)

<S>                                          <C>         <C>          <C>         <C>          <C>       <C>          <C>
                                          % change                  % change              % change                 % change
                                           Over                       Over                   Over                     Over
                                1997     Prior Year        1998    Prior Year     1999     Prior Year      2000    Prior Year
                                ---------------------------------------------------------------------------------------------
Total Slot Revenue          $  18,102      79.6%       $  18,597     2.7%        $22,235     19.6%       $23,670      6.5%
(in $'000)

Average Number
Of Slots                          547      59.9%             565     3.3%            592      4.8%           627      5.9%

Average Win Per
Slot Per Day                $   90.67      12.3%       $   90.18    -.05%        $102.56     13.7%       $103.15      .57%

Market Share in %              17.61%      69.5%          17.27%    -1.9%         18.91%      9.5%        18.46%     -2.4%


</TABLE>
The  Company competes, to a far lesser extent, with 19 casinos in Black Hawk and
11  casinos in Central City. Black Hawk and Central City are also small mountain
tourist  towns,  which  adjoin  each  other  and are approximately 30 miles from
Denver and a two and one-half hour drive from Cripple Creek. The main market for
Cripple Creek is the Colorado Springs metropolitan area, and the main market for
Black  Hawk  and  Central  City  is  the  Denver  metropolitan  area.

In addition, there is intense competition among companies in the gaming industry
generally, and many gaming operators have greater name recognition and financial
and  marketing  resources  than  the  Company.  The  Company  competes with many
established  operators  in gaming venues other than Cripple Creek. Many of these
operators  have  greater financial, operational and personnel resources than the
Company.  There  can  be  no  assurance  that  the  number  of  casino and hotel
operations  will  not  exceed  market  demand  or that additional hotel rooms or
casino  capacity  will  not  adversely  affect  the  operations  of the Company.


The  Caledon,  South  Africa  Market - Caledon is a small agricultural community
located  approximately  60  miles  east  of  Cape Town.  Caledon lies on the N-2
highway  - the main thoroughfare between Cape Town and Durban - and is known for
its  wild flower shows, wineries and the natural historic hot springs located on
The  Caledon  site.  Caledon is also a tourist town and the Company believes its
heaviest  traffic  is  experienced during the December holiday season (summer in
South Africa).  Management also believes that traffic will be somewhat slower in
the  winter  months  (June  through September), but they are optimistic that the
enhanced  hot  springs facilities and completed phase one amenities will attract
additional  patrons  during  this  time.

The  Caledon  Casino,  Hotel  and Spa operates its casino under one of only five
licenses  awarded  in  the  Western  Cape  Province  which  has  a population of
approximately  4  million.  Although the competition is limited by the number of
casino  licenses  and the casinos will be geographically distributed, Management
believes  that  the  Caledon Casino Hotel and Spa  will face intense competition
from the other four casinos  -  particularly a  large casino located in Capetown
located approximately one hour from Caledon.  The Company will strive to compete
against these casinos  by emphasizing Caledon's destination resort appeal in its
marketing campaign,  by  promotion  of  its players club and by superior service
to its players.

                                       11
<PAGE>

In  addition,  there  is intense competition among companies in the South Africa
gaming  industry,  and the gaming industry in general, and many gaming operators
have  greater  name  recognition,  financial  and  marketing  resources than the
Company.  The  Company competes with many established operators in gaming venues
other  than  the  Western  Cape  Province.  Many of these operators have greater
financial, operational and personnel resources than the Company. There can be no
assurance  that the number of casino and hotel operations will not exceed market
demand  or  that  additional  hotel  rooms or casino capacity will not adversely
affect  the  operations  of  the  Company.

Gaming in South Africa is "unlimited wagering" where each casino can set its own
limits.  As  a  result,  the  relationship between table games revenues and slot
revenues  will  resemble  more  traditional gaming markets (unlike Cripple Creek
where  nearly  96%  of gaming revenues are derived from the slot machines).  The
casino  has  250  slot machines and 14 table games including blackjack, roulette
and  Caribbean  Stud.

<TABLE>
<CAPTION>


                        CENTURY CASINOS' PROPERTY IN CALEDON
                        ( "THE CALEDON CASINO, HOTEL & SPA")
                               (IN $000'S)



<S>                                    <C>
                                         2000
                                        ------
Total Slot Revenue
(in $'000)                              $2,838

Average Number
Of Slots                                  250

Average Win Per
Slot Per Day                            $ 138

Other Gaming Revenue
(in $'000)                              $ 698
</TABLE>

The Caledon Casino opened for business on October 11, 2000.  It was in operation
for  82  days in  the year  2000.   In addition,  the effects of recently opened
competition are unknown.  Accordingly,  the above operating  results may  not be
representative  of  the  casino's  operating  results  for  an  entire year.


Employees

     Womacks/Legends  Casino  - The Company employs approximately 200 persons in
Cripple Creek, CO on an equivalent full-time basis, including cashiers, dealers,
food  and  beverage  service  personnel,  facilities  maintenance  staff,  and
accounting  and  marketing  personnel.  No  labor  unions represent any employee
group.  A  standard  package  of  employee  benefits  is  provided  to full-time
employees  along with training and job advancement opportunities. In March 1998,
the  Company  adopted  a  401(k)  Savings and Retirement Plan for its employees.

     Caledon  Casino  Hotel  &  Spa  -  The  Caledon  Casino Hotel & Spa employs
approximately  400 persons on an equivalent full-time basis, including cashiers,
dealers,  food and beverage service personnel, facilities maintenance staff, and
accounting  and  marketing  personnel.  No  labor  unions represent any employee
group.  A  standard  package  of  employee  benefits  is  provided  to full-time
employees  along  with  training  and  job  advancement  opportunities.

                                       12
<PAGE>

Seasonality

     Womacks/Legends  Casino - The Company's business in Cripple Creek, CO is at
its highest levels during the tourist season (i.e., from May through September).
Its  base  level  (i.e.,  October  through  April)  is expected to remain fairly
constant although weather conditions during this period could have a significant
impact  on  business  levels  in  Colorado.

     Caledon  Casino Hotel & Spa - The Company's business in Caledon is expected
to be seasonal; the anticipated highest levels of business activity, at least in
South  Africa, will occur in the holiday season in December.  Caledon has a very
mild climate and management is optimistic that it can maintain steady traffic to
the Caledon Casino Hotel & Spa in the winter months (June through September) due
to  its  enhanced  historic  hot  springs  facilities  and  phase  one amenities
scheduled  for  completion  during  the  second  quarter  of  2001.


Governmental  Regulation

     Womacks/Legends  Casino  -  The  Company's gaming operations are subject to
strict  governmental  regulations  at  state  and  local  levels.  Statutes  and
regulations can require the Company to meet various standards relating to, among
other  matters,  business  licenses,  registration  of  employees,  floor plans,
background  investigations  of  licensees and employees, historic preservation,
building,  fire  and  accessibility  requirements, payment of gaming taxes, and
regulations  concerning  equipment,  machines, tokens, gaming participants, and
ownership  interests.  Civil and criminal penalties can be assessed against the
Company  and/or  its  officers or stockholders to the extent of their individual
participation in, or association with, a violation of any of the state and local
gaming  statutes  or  regulations.  Such  laws  and  regulations  apply  in  all
jurisdictions  within  the  United States in which the Company may do business.
Management  believes  that  the  Company is in compliance with applicable gaming
regulations.  For  purposes  of  the  discussion  below,  the term "the Company"
includes  its  applicable  subsidiaries.

The  Colorado  Limited  Gaming  Control  Commission  ("Commission")  has adopted
regulations  regarding  the ownership of gaming establishments by publicly held
companies  (the "Regulations").  The Regulations require the prior clearance of,
or  notification to, the Commission before any public offering of any securities
of  any  gaming licensee or any affiliated company.  The Regulations require all
publicly  traded  or  publicly  owned  gaming  licensees to comply with numerous
regulatory gaming requirements including, but not limited to, notifying / filing
with  the  Colorado  Division  of  Gaming  any  proxy  statements,  lists  of
shareholders,  new  officers  and  directors  of  the  Company, any shareholders
obtaining  5%  or  more  of  the  Company's common stock and any issuance of new
voting  securities.

Other  state  regulatory  agencies  also  impact  the  Company's  operations,
particularly its license to serve alcoholic beverages.  Rules and regulations in
this  regard  are  strict,  and  loss  or  suspension  of a liquor license could
significantly  impair,  if  not  ruin,  a licensee's operation.  Local building,
parking  and  fire codes and similar regulations could also impact the Company's
operations  and  proposed  development  of  its  properties.

                                       13
<PAGE>

     Caledon  Casino  Hotel  &  Spa - Caledon's gaming operations are subject to
strict  regulations by the Western Cape Gambling and Racing Board under national
and provincial legislation. Statutes and regulations require the Company to meet
various standards relating to, among other matters, business licenses, licensing
of  employees,  historic  preservation,  building,  fire  and  accessibility
requirements,  payment  of gaming taxes, and regulations concerning equipment,
machines,  tokens,  gaming  participants,  and  ownership interests.  Civil and
criminal  penalties  can  be assessed against the Company and/or its officers to
the  extent  of  their  individual  participation  in,  or  association  with, a
violation  of  any  of these gaming statutes or regulations. Management believes
that  the  Company  is  in  compliance  with  applicable  gaming  regulations.

     Casino Millennium  -  Casino  Millennium's gaming operations are subject to
strict  regulations  by  the Czech Republic under national legislation. Statutes
and regulations require the Company to meet various standards relating to, among
other  matters, business licenses, building,fire and accessibility requirements,
payment of gaming taxes, and regulations concerning equipment, machines, tokens,
gaming participants, and ownership interests. Civil and criminal  penalties  can
be assessed against  the Company and/or its officers  to  the  extent  of  their
individual participation in, or association with,  a  violation  of any of these
gaming statutes or regulations.   Management believes  that  the Company  is  in
compliance with applicable gaming regulations.

     Silversea  Cruise Ships - The casinos onboard the cruise ships only operate
when they are in international waters.  Therefore, the gaming operations are not
regulated by any national or local regulatory body.  Management believes however
that the Company follows standardized rules and practices in the daily operation
of  the  casinos.


Item  2.     Properties.
-------      ----------

     The  Company's  corporate offices are located at its Womacks/Legends Casino
at  200  East Bennett Avenue, Cripple Creek, Colorado.  See Item 1. "Business --
Property  and  Project  Descriptions"  herein for a description of the Company's
other  properties.  See also Note 5 to the Consolidated Financial Statements for
complete  disclosure  of  the  debt  instruments  which  are  secured by Company
property.

Item  3.     Legal  Proceedings.
-------      ------------------

     The  Company  is  not  a  party  to,  nor  is  it  aware of, any pending or
threatened  litigation  which,  in  management's  opinion, could have a material
adverse  effect  on  the  Company's financial position or results of operations.

Item  4.     Submission  of  Matters  to  a  Vote  of  Security  Holders.
-------      -----------------------------------------------------------

     The 2000 annual meeting of the stockholders of the Company was held on June
15,  2000.  At  the annual meeting (i) the two Class III directors to the Board,
Erwin  Haitzmann and Gottfried Schellmann, were elected to the Board for a three
year  term;  and (ii) a proposal to ratify the First Supplement to the Company's
Rights  Agreement  whereby  a  "friendly  group"  will  be allowed to accumulate
additional  shares  of the Company's common stock without causing an inadvertent
triggering  or implementation of the rights plan was adopted by the stockholders
of  the  Company.  On  the  proposal to elect the Class III directors, the votes
were:  Erwin  Haitzmann,  8,137,679  for,  38,196  against, and 4,384 abstained;
Gottfried Schellmann, 8,137,679 for, 38,196 against, and 4,384 abstained. On the
proposal  to  ratify the First Supplement to the Company's Rights Agreement, the
results were:  8,138,778 for, 36,852 against, and 4,629 abstained, and 6,303,542
not  voted.


                                       14
<PAGE>

Item  5. Market for Registrant's Common Equity and Related Stockholder Matters.
-------  ---------------------------------------------------------------------

     The common stock of the Company began trading in the Nasdaq SmallCap Market
on November 10, 1993. The following table sets forth the low and high sale price
per  share  quotations  as  reported on the NASDAQ SmallCap Market of the common
stock  for  the periods indicated. These quotations reflect inter-dealer prices,
without  retail  mark-up,  mark  down  or  commission  and  may  not necessarily
represent  actual  transactions.  Actual  prices  may  vary.

<TABLE>
<CAPTION>



<S>                 <C>    <C>
Quarter Ended.               Low    High
------------------          -----  -----

March 31, 1999              $0.75  $1.44
June 30, 1999               $0.97  $1.25
September 30, 1999          $0.88  $1.13
December 31, 1999           $0.88  $1.06

March 31, 2000              $0.97  $2.47
June 30, 2000               $1.50  $1.97
September 30, 2000          $1.44  $1.97
December 31, 2000           $1.50  $1.94
</TABLE>

     At  December  31,  2000,  the Company had approximately 115 shareholders of
record  of  its common stock; management estimates that the number of beneficial
owners  is  approximately  1,700.

     At  the present time, management of the Company intends to use any earnings
that  may  be  generated  to  finance  the  growth  of  the  Company's business.
Accordingly, while payment of dividends rests within the discretion of the Board
of  Directors,  no  dividends  have been declared or paid by the Company, and it
does  not  presently  intend  to  pay  dividends.


Item  6. Management's Discussion and Analysis of Financial Condition and Results
-------  -----------------------------------------------------------------------
         of  Operations
         --------------


Business  Environment  and  Risk  Factors

     The  following  discussion should be read in conjunction with the Company's
consolidated  financial  statements and related notes included elsewhere herein.
The  Company's  future  operating  results may be affected by various trends and
factors  beyond  the Company's control.  These include, among other factors, the
competitive  environment  in which the Company operates, present dependence upon
the Cripple Creek, Colorado gaming and the South African gaming markets, changes
in  the  rates  of  gaming-specific  taxes, shifting public attitudes toward the
socioeconomic  costs  and  benefits  of  gaming,  actions  of regulatory bodies,
dependence  upon  key  personnel,  the speculative nature of gaming projects the
Company  may  pursue,  risks  associated  with  expansion,  and  other uncertain
business  conditions  that  may  affect  the  Company's  business.

     With  the  exception of historical information, the matters discussed below
under  the  headings  "Results  of  Operations"  and  "Liquidity  and  Capital
Resources,"  may  include  forward-looking  statements  that  involve  risks and
uncertainties.  The  Company  cautions  the  reader  that  a number of important
factors  discussed  herein,  and  in other reports filed with the Securities and
Exchange  Commission, could affect the Company's actual results and cause actual
results to differ materially from those discussed in forward-looking statements.


                                       15
<PAGE>

Results  of  Operations

     Net  operating  revenue increased significantly to $29,009,000 in 2000 from
$23,584,000 in 1999.  The Company's casino revenue increased from $22,726,000 in
1999 to $27,703,000 in 2000, or 21.9%.  The Company's operating revenue for 1999
was derived principally from its casino operations in Cripple Creek. In the year
2000,  the  acquisition  of  Caledon  Casino  Hotel  and  Spa  has  contributed
significant  revenues  to the consolidated results of the Company as reported in
Note  7  of  the  Consolidated Financial Statements.  The Company's share of the
overall  Cripple  Creek market decreased slightly from 18.6% in 1999 to 18.1% in
2000.  Womacks/Legends Casino operated approximately 15.3% of the gaming devices
in  the Cripple Creek market in 2000, with an average win per day per machine of
$103  compared  with  a  market  average of $85.  Gross margin from company-wide
casino  activities  increased  from 61% in 1999 to 63% in 2000.  The increase in
margin  is  attributable to a continuation of a focused management and marketing
approach  for Womacks/Legends Casino.  At the same time, a significant number of
new  memberships in the casino's Gold Club were added again in 2000.  Additional
emphasis  was  put  into  further  refining  the product mix, upgrading both the
interior  of  the facilities, as well as the slot machine mix.  Parking capacity
was  expanded  and made more convenient as part of the Company's ongoing efforts
to  provide  the  highest  quality  parking  facilities for its customers.  Also
contributing  to the casino margin improvement was a reduction in the gaming tax
rate  which  has  lowered the effective tax rate on gaming operations in Cripple
Creek.  Various  other initiatives were undertaken that management believes have
resulted  in  greater  attention  to  customer  service.

     Food  and beverage revenue increased from $933,000 in 1999 to $1,377,000 in
2000,  or  47.5%.  The  increase is principally due to improvement in operations
that started to take effect in the second quarter of 1999.  The cost of food and
beverage  promotional  allowances, which are included in casino costs, decreased
from  $854,565  in  1999  to  $828,900  in  2000.  Hotel  revenue increased from
$149,000  to  $257,000  principally  as  the result of the opening of the Hotel,
Casino  &  Spa  resort  in  Caledon  S.A.

     General  and  administrative  expense  increased from $6,710,000 in 1999 to
$8,004,000  in  2000,  or  19.3%,  but decreased slightly as a percentage of net
operating  revenue,  from  28.5% in 1999 to 27.6% in 2000.  In spite of one time
costs  of  $624,000  related to the start up in Caledon, the Company was able to
proportionately  contain  cost.

     Depreciation increased from $1,969,000 in 1999  to $2,412,000 in 2000.  The
increase  is  attributable to continued property improvements at Womacks/Legends
Casino,  the  completion  of  the  Womacks  Event Center, the acquisition of new
gaming  equipment  in Cripple Creek and Prague and the purchase of approximately
$11.7  million  of  fixed  assets  in  Caledon.  Amortization  of  goodwill  was
$1,341,000  in  both  years.

     Interest  expense, including debt issuance cost, increased from  $1,127,000
in 1999 to $1,617,000 in 2000, due to  a 20% increase in the average outstanding
balance  on  the RCF,   which was used  to  fund  the  Company's  investment  in
Caledon,  and  the  incursion of approximately $370,000 in interest on CCBC debt
which has been used to fund the capital  improvements  to  the  Hotel,  Casino &
Spa  resort  in Caledon.  The weighted-average  interest rate on  the borrowings
under the RCF has decreased slightly  from  8.65%  in 1999 to 8.58%.   The other
items  included  in  the  caption  "Other  expense,  net"  in  the  consolidated
statements of income, for both 2000 and 1999  are  described  in  Note 10 to the
consolidated  financial statements.

     As more fully discussed in Note 9 to the consolidated financial statements,
the  Company  recognized  income  tax  expense  of  $2,542,000  in  2000  versus
$1,746,000  in  1999.  The provision in 2000 is higher than the prior year's due
to  the  substantial  increase  in  pre-tax  income.


liquidity  and  Capital  Resources

                                       16
<PAGE>


     Cash  and  cash  equivalents totaled $9.1 million at December 31, 2000, and
the  Company had net working capital of ($915,000). The cash balance at December
31,  2000  was  maintained  to  satisfy current obligations payable in the first
quarter of the year 2001.  Additional liquidity may be provided by the Company's
revolving credit facility ("RCF") with Wells Fargo Bank, under which the Company
had  a  total  commitment  of  $25.3  million  and  unused borrowing capacity of
approximately  $6.6  million  at December 31, 2000.  For the year ended December
31,  2000,  cash provided by operating activities was $7.1 million compared with
$3.8  million  in  the prior-year period.  Cash used by investing activities was
$13.9  million  for  the  year  2000  and  included  $1.4 million in capitalized
licensing  cost related to the hotel and casino resort in Caledon, South Africa,
$2.0  million  for the purchase of land for additional parking in Cripple Creek,
$1.8  million  towards  the  construction  of  the  Womacks Event Center and the
purchase  of  other fixed assets, $7.8 million towards construction of the hotel
and casino resort in Caledon, South Africa and $1.8 million towards the purchase
of an additional 15% equity stake in the Caledon project, offset by $1.4 million
from  the sale of the Company's interest in an Indiana riverboat gaming license.
Cash  provided  by  financing  activities in 2000 consisted of net borrowings of
$9.5 million under the RCF with Wells Fargo, and $5.6 million borrowed under the
loan  agreement  with  PSG,  offset by the repurchase of company's stock, on the
open  market,  with  a  cost  of  $818,000,  and other net payments of $800,000.

     Effective April 26, 2000, the Company  and Wells Fargo Bank entered into an
amended  and restated credit agreement, which increased the borrowing commitment
as  of  that  date from $17.2 million to $26.0 million and extended the maturity
date  of  the RCF until April 2004.  The agreement provides for the availability
of funds, not to exceed a total of $12.4 million, for the Company's South Africa
and  Casino Millennium investments and repurchase of the Company's common stock.

     On April 13, 2000, the Caledon Casino Bid Company (Pty) Limited ("CCBC")
was awarded a gaming license for  a  casino at a 92-room resort hotel and spa in
Caledon,  province  of  the  Western Cape, South Africa.  On April 17, 2000, the
Company's  subsidiary,  Century Casinos Africa (Pty) Ltd ("CCA"), acquired a 50%
equity  interest  in  CCBC  by making an equity investment of approximately $1.5
million in and loans totaling approximately $2.3 million to CCBC with borrowings
obtained  under the Company's RCF.  The Company has a ten-year casino management
agreement with CCBC, which agreement may be extended at the Company's option for
multiple  ten-year  periods.  The  Company  will  earn  management fees based on
percentages of annual gaming revenue and earnings before interest, income taxes,
depreciation,  amortization  and  certain  other  costs.  The  casino  opened on
October  11,  2000  with 250 slot machines and 14 gaming tables.  In addition to
the  casino  license,  hotel and spa, CCBC owns approximately 600 acres of land,
which  is  expected  to be used for future expansion of the Caledon project.  In
December, 2000 the Company reported that, through a subsidiary, it had completed
its  acquisition  of  an  additional  15% of The Caledon Casino, Hotel and Spa -
raising its ownership of the project to 65%. Terms of the agreement included the
payment of approximately $1.8 million U.S. Dollars by Century to its partners in
exchange  for  15%  of  the  total  ordinary  shares  of  the project (valued at
approximately  $1.2  million)  and  a shareholder loan to the project previously
held  by  its partners (with a value of approximately $600,000).  In April 2000,
CCBC  entered  into  a  loan  agreement  with PSG Investment Bank Limited, which
agreement  provides  for  a principal loan of approximately $6.2 million to fund
development  of  the  Caledon  project  and  a  working  capital  facility  of
approximately  $2.1  million.  As  of  December  31, 2000, $5.6 million has been
advanced  against  the  loan  agreement.

                                       17
<PAGE>


     The Company has a 20-year agreement with Casino  Millennium a.s., a Czech
company,  to  operate a casino in the five-star Marriott Hotel, in Prague, Czech
Republic.  The  hotel  and  casino  opened  in  July 1999.  The Company provides
casino  management  services  in  exchange for ten percent of the casino's gross
revenue and leases gaming equipment, with an original cost of approximately $1.3
million, to the casino for 45% of the casino's net profit.  In January 2000, the
Company  entered  into  a  memorandum  of  agreement with B. H. Centrum, a Czech
company  which  owns the hotel and casino facility, to acquire the operations of
the  casino  by  either  a  joint  acquisition  of Casino Millennium a.s. or the
formation  of  a new joint venture.  The transaction, if completed, would result
in  the  Company having a 50% equity interest in Casino Millennium.  Any funding
required  by  the  Company to consummate this transaction would be met through a
combination  of  RCF  borrowings,  existing liquidity and anticipated cash flow.
The  Company  is  in the process of negotiating a definitive purchase agreement.

     In  May  2000,  the  Company  entered  into  a  five-year casino concession
agreement  with  a cruise line for casino operations aboard four cruise vessels.
The  Company  is  required  to  pay a fee to the owner of the vessels based on a
percentage  of gross gaming revenue, as defined, in excess of an established per
passenger  per  day  amount.  In August 2000, the Company entered into a similar
agreement  to serve as concessionaire of a small casino aboard a vessel designed
to  be  an  exclusive residential community at sea.  Both agreements require the
Company  to  provide  all necessary gaming equipment.  On September 18, 2000 the
Company  announced  the  opening  of the first of four casinos aboard the cruise
vessels and, within 60 days thereafter, opened two more such casinos giving it a
total  of  three  shipboard  casino  operations by the end of 2000.  The company
expects  to  open  its  fourth  shipboard  casino  in  July,  2001.

     The Company's Board of Directors has approved   a  discretionary program to
repurchase  up  to  $5  million  of the Company's outstanding common stock.  The
Board  believes that the Company's stock is undervalued in the trading market in
relation  to both its present operations and its future prospects.  During 2000,
the  Company purchased 464,800 additional shares at an average cost per share of
$1.76.  Beginning  in 1998 and through 2000, the Company has repurchased a total
of  1,849,800  shares  at a total cost of approximately $2.3 million.  January 1
through  March  23,  2001,  the Company repurchased an additional 147,600 shares
at  a  total  cost  of  approximately  $297,000.  Management plans to retire all
treasury  shares  on a periodic basis.  Management expects to continue to review
the  market  price  of the Company's stock and repurchase shares as appropriate,
with  funds  coming  from  existing  liquidity  or  borrowings  under  the  RCF.

     The Company is the contracted casino management partner with and has the
right to a minority equity interest in a consortium including Silverstar
Development Ltd. ("Silverstar").  Silverstar has submitted an application for a
proposed $60 million, hotel/casino resort development in the greater
Johannesburg area of South Africa.  In the event that Silverstar is awarded a
license, the Company would  be  required  to make an equity investment of
approximately $1.5 million.  This funding requirement would be met through
borrowings under the RCF.  The Company  has also projected additional
development costs of up to $500,000 which could  be incurred by the Company
related to this project.  At the present time, however,  there can be no
certainty regarding an award of this gaming license or that  this  license
will  ultimately be awarded to the consortium Silverstar is part  of.

     Management believes that the Company's cash and working capital at December
31, 2000,  together  with expected cash flows from operations and borrowing
capacity under the RCF, will be sufficient to fund its anticipated capital
expenditures, pursue  additional business growth opportunities for the
foreseeable future, and satisfy  its  debt  repayment  obligations.

Item  7.     Financial  Statements.
-------      ---------------------

     See  "Index  to  Financial  Statements"  on  page  F-1  hereof.
                                       18
<PAGE>


Item 8.      Changes In and Disagreements With Accountants on Accounting and
-------      -----------------------------------------------------------------
             Financial  Disclosure.
             ---------------------

     On  March 24, 2000, the Registrant filed a Report on Form 8-K, reporting
     that it had  dismissed  its principal independent accountant, Deloitte &
     Touche LLP, and sent  requests  for  proposals  to  several  other
     accounting  firms.

     On  April  6, 2000, the Registrant filed a Report on Form 8-K, reporting
     that it had  selected  Grant  Thornton  LLP  as  its  principal
     independent accountant (its "Successor Auditor"), to replace Deloitte  &
     Touche LLP (its "Former Auditor").

     Registrant  had  no  disagreements with the Former Auditor that, if not
     resolved would  have  caused  the  Former  Auditor  to  report  the
     disagreement.

     There  has  been no adverse opinion, disclaimer of opinion, or qualified
     opinion in  the  Former  Auditor's  report  for  any  of  the  preceding
     two  years.

     A  letter  from  the  Former Auditor stating its agreement with the
     Registrant's disclosures  was  filed  as  Exhibit 2000- 2, with the
     Registrant's 8-K filed on March  24,  2000.

     The  Company  authorized the Former Auditor to respond fully to
     inquiries of  the  Successor  Auditor.

     Grant  Thornton LLP was not consulted on the application of accounting
     principles to any specific completed or contemplated  transactions prior
     to its appointment as the  Company's  independent  accountant.

The  decision  to  select  Grant  Thornton  LLP  as  registrant's  independent
accountants  was  recommended  by the Audit Committee of the Board of Directors,
and  approved  by  the  Board.

Item  9.     Directors,  Executive  Officers,  Promoters  and  Control  Persons;
-------      -------------------------------------------------------------------
             Compliance  with  Section  16(a)  of  the  Exchange  Act.
             --------------------------------------------------------

     The  information  required  by  this item will be included in the Company's
Proxy  Statement  with  respect to its 2001 Annual Meeting of Stockholders to be
filed  with  the  Commission  within  120  days  of December 31, 2000, under the
captions  "Information  Concerning  Directors  and  Executive  Officers"  and
"Compliance  with  Section  16(a)  of  the  Securities  Exchange  Act."

Item  10.  Executive  Compensation.
--------   -----------------------

     The  information  required  by  this item will be included in the Company's
Proxy  Statement  with  respect to its 2001 Annual Meeting of Stockholders to be
filed  with  the  Commission  within  120  days  of December 31, 2000, under the
caption  "Information  Concerning  Directors  and  Executive  Officers."

Item  11.  Security  Ownership  of  Certain  Beneficial  Owners  and Management.
--------   --------------------------------------------------------------------

     The  information  required  by  this item will be included in the Company's
Proxy  Statement  with  respect to its 2001 Annual Meeting of Stockholders to be
filed  with  the  Commission  within  120  days  of December 31, 2000, under the
caption  "Voting  Securities."

                                       19
<PAGE>

Item  12.  Certain  Relationships  and  Related  Transactions.
--------   --------------------------------------------------

     The  information  in  this  item  is  incorporated  by  reference  from the
Company's  Definitive  Proxy material with respect to the 2001 Annual Meeting of
Stockholders  to  be  filed  with the Commission within 120 days of December 31,
2000,  under  the  caption  "Certain  Relationships  and  Related Transactions."


Item  13.     Exhibits  and  Reports  on  Form  8-K.
--------      -------------------------------------

     a.     Exhibits  Filed  Herewith  or  Incorporated by Reference to Previous
            --------------------------------------------------------------------
            Filings  with  the  Securities  and  Exchange  Commission:
            -------------------------------------------------------

     1.     The following exhibits were included with the filing of the Alpine's
            Form  10-KSB  for  the  fiscal year ended December 31, 1993 and are
            incorporated herein  by  reference:

     Exhibit  No.          Description
     ------------          -----------

     10.14       Plan  of  Reorganization and Agreement Among Alpine Gaming,
                 Inc., Alpine Acquisition, Inc. and Century Casinos Management,
                 Inc. - Filed with Form  8-K  dated  December  24,  1993  and
                 incorporated  by  reference therein.

     10.15       Amendments  One,  Two  and  Three  to Plan of Reorganization
                 and Agreement  Among  Alpine  Gaming,  Inc.,  Alpine
                 Acquisition, Inc. and Century Casinos  Management,  Inc.


     2.     The  following  exhibits  were  filed  with  the Form 10-KSB for the
            fiscal  year  ended  December 31, 1995 and are incorporated herein
            by reference:

     Exhibit  No.          Description
     ------------          -----------

     3.1         Certificate of Incorporation (filed with Proxy Statement in
                 respect of  1994  Annual  Meeting of Stockholders and
                 incorporated herein by reference).

     3.2          Bylaws  (filed  with  Proxy  Statement  in  respect  of 1994
                  Annual Meeting  of  Stockholders  and  incorporated  herein
                  by  reference).

     10.51        Asset  Purchase  Agreement  dated as of September 27, 1995 by
                  and among  Gold  Creek Associates, L.P., WMCK
                  Acquisition Corp. and Century Casinos, Inc.,  including
                  Exhibits  and  Schedules,  along with First Amendment thereto.

     10.57        Stock  Purchase  Agreement  dated  December  21,  1995 between
                  Switzerland  County  Development Corp. ("Buyer") and Century
                  Casinos Management, Inc.  and  Cimarron  Investment
                  Properties  Corp.  ("Sellers").

     10.58        Consultancy  Agreement  -  Chalkwell  Limited.

                                       20
<PAGE>
     3.     The  following exhibits were filed with the Form 8-K Current Report
            dated July  1,  1996  and  are  incorporated  herein  by  reference:

     Exhibit  No.          Description
     ------------          -----------

     10.60        Promissory Note dated March 19, 1992, made by Chrysore, Inc.
                  in  the  original  amount  of $1,850,000 payable to R. & L
                  Historic Enterprises, together with Assignment dated September
                  14, 1992 of said Promissory Note to TJL Enterprises,  Inc.
                  and Assignment dated May 16, 1996 of said Promissory Note to
                  Century  Casinos,  Inc.

     10.61        Promissory Note dated July 1, 1996, made by WMCK Acquisition
                  Corp.  in  the  original  principal  amount  of $5,174,540
                  payable to Gold Creek Associates,  L.P., together with
                  Guaranty dated July 1, 1996, of said Promissory Note  by
                  Century  Casinos,  Inc.

     10.62        Building  Lease  dated  as  of  July  1,  1996,  among  TJL
                  Enterprises,  Inc.,  WMCK  Acquisition Corp. and Century
                  Casinos, Inc., together with  Memorandum  of  Building Lease
                  with Option to Purchase dated as of July 1, 1996,  among
                  the  same  parties.

     10.63        Four  Party  Agreement,  Assignment and Assumption of Lease,
                  Consent  to  Assignment  of Lease, Confirmation of Option
                  Agreement and Estoppel Statements  dated as of July 1, 1996,
                  among Harold William Large, Teller Realty, Inc.,  Gold
                  Creek  Associates,  L.P.,  and  WMCK  Acquisition  Corp.

     10.64        Consulting  Agreement dated as of July 1, 1996, between WMCK
                  Acquisition  Corp.  and  James  A.  Gulbrandsen.

     10.65        Consulting  Agreement dated as of July 1, 1996, between WMCK
                  Acquisition  Corp.  and  Gary  Y.  Findlay.

     4.     The  following  exhibit  was filed with the Form 10-QSB for the
            quarterly period  ended  March  31,  1997  and  is  incorporated
            herein  by  reference:

     Exhibit  No.          Description
     ------------          -----------

     10.68        Credit Agreement dated as of March 31, 1997, between Wells
                  Fargo Bank, N.A.  ("Lender");  WMCK  Venture Corp.,
                  Century Casinos Cripple Creek, Inc., and WMCK  Acquisition
                  Corp. ("Borrowers"); and Century Casinos, Inc.
                  ("Guarantor").

                                       21
<PAGE>

     5.     The  following  exhibits  were  filed with the Form 10-KSB for the
            fiscal year  ended  December  31,  1997  and  are  incorporated
            herein  by  reference:

     Exhibit  No.          Description
     ------------          -----------

     10.69        First  Amendment  to  the Credit Agreement dated as of March
                  31, 1997, between  Wells  Fargo Bank, N.A. ("Lender"); WMCK
                  Venture Corp., Century Casinos Cripple  Creek,  Inc.,  and
                  WMCK  Acquisition  Corp. ("Borrowers"); and Century Casinos,
                  Inc.  ("Guarantor"),  dated  November  11,  1997.

     10.70        Second  Amendment  to the Credit Agreement dated as of March
                  31, 1997, between  Wells  Fargo Bank, N.A. ("Lender"); WMCK
                  Venture Corp., Century Casinos Cripple  Creek,  Inc.,  and
                  WMCK  Acquisition  Corp. ("Borrowers"); and Century Casinos,
                  Inc.  ("Guarantor"),  dated  January  28,  1998.

     6.     The  following exhibits were filed with the Form 10-QSB for the
            quarterly period  ended  June  30,  1998  and  are  incorporated
            herein  by  reference:

Exhibit  No.          Description
------------          -----------

     10.71        Termination  of Stock Transfer and Registration Rights
                  Agreement dated May  1,  1998,  between  Century  Casinos,
                  Inc.  and  Gary  Y.  Findlay

     10.72        Promissory  Note  dated  April 30, 1998, between Century
                  Casinos, Inc. and  Gary  Y.  Findlay

     10.73        Termination  of Stock Transfer and Registration Rights
                  Agreement dated June  2,  1998,  between  Century  Casinos,
                  Inc.  and  James  A.  Gulbrandsen

     10.74        Promissory  Note dated June 2, 1998, between Century Casinos,
                  Inc. and James  A.  Gulbrandsen

     10.76        Casino  Consulting  Agreement  dated  March  25,  1998, by
                  and between Rhodes  Casino S.A., Century Casinos, Inc. and
                  Playboy Gaming International Ltd.

     7.     The  following  exhibits  were  filed with the Form 10-KSB for
            the fiscal year  ended  December  31,1998  and  are  incorporated
            herein  by  reference:

Exhibit  No.          Description
------------          -----------


     10.77        Third  Amendment  to  the Credit Agreement dated as of March
                  31, 1997, between  Wells  Fargo Bank, N.A. ("Lender"); WMCK
                  Venture Corp., Century Casinos Cripple  Creek,  Inc.,  and
                  WMCK  Acquisition  Corp. ("Borrowers"); and Century Casinos,
                  Inc.  ("Guarantor"),  dated  November  4,  1998.

     10.78        Parking  Lease  -  Option  to Purchase dated June 1, 1998,
                  between the City  of  Cripple  Creek  ("Lessor")  and  WMCK
                  Venture  Corporation ("Lessee")

                                       22
<PAGE>

     8.     The  following exhibits were filed with the Form 10-QSB for the
            quarterly period  ended  March  31,  1999  and  are
            incorporated  herein  by  reference:

     Exhibit  No.          Description
     ------------          -----------

     10.79        Casino  Services  Agreement  dated  January  4,  1999 by and
                  between  Casino  Millennium  a.s.,  Century  Casinos
                  Management,  Inc. and B.H. Centrum  a.s.

     10.80        Option  to  Purchase  Real Property dated March 25, 1999, by
                  and  between Robert J. Elliott ("Optionor") and WMCK Venture
                  Corp. ("Optionee").

     10.81        Letter  Amendment  to Note Agreement dated April 1, 1999, by
                  and  between  Century  Casinos,  Inc.  and  Thomas  Graf

     9.     The  following  exhibit  was  filed  with  the  Form  10-QSB for the
            quarterly  period  ended  June 30, 1999 and is incorporated herein
            by reference:

     Exhibit  No.          Description
     ------------          -----------

     10.82        Master  Lease Agreement dated January 4, 1999 by and between
                  Casino  Millennium  a.s.  and  Century  Management  und
                  Beteiligungs  GmbH

     10.    The  following  exhibit  was  filed  with  the  Form 10-QSB for the
            quarterly  period  ended  September  30,  1999 and is incorporated
            by reference:

     Exhibit  No.          Description
     ------------          -----------

     10.83        Waiver  and  Release  and Consulting Agreement dated October
                  15,  1999  by  and  between  Norbert  Teufelberger  and
                  Century  Casinos,  Inc.

     11.    The  following  exhibits  were filed with the Form 10-KSB for the
            fiscal year  ended  December  31,1999  and  are  incorporated
            herein  by reference:

     Exhibit  No.          Description
     ------------          -----------

     10.84        Marketing and Investor Relations Agreement, dated November 5,
                  1999, by and  between  Century  Casinos,  Inc.  and advice!
                  Investment Services GmbH, and related  Warrant  Agreement

     10.85        Fourth  Amendment to the Credit Agreement, dated as of March
                  31, 1997, between  Wells  Fargo Bank, N.A. ("Lender"); WMCK
                  Venture Corp., Century Casinos Cripple  Creek,  Inc.,  and
                  WMCK  Acquisition  Corp. ("Borrowers"); and Century Casinos,
                  Inc.  ("Guarantor"),  dated  November  15,  1999

     10.86        Casino  Management  Agreement,  dated December 3, 1999, by
                  and between Caledon  Casino  Bid Company (Pty) Limited and
                  Century Casinos Africa (Pty) Ltd.
                                       23
<PAGE>

     10.87        Shareholders  Agreement,  dated  December 3, 1999, and
                  Addendum to the Agreement,  dated  December  9,  1999, by and
                  between Caledon Casino Bid Company (Pty)  Limited,  Caledon
                  Overberg  Investments  (Pty)  Limited, Century Casinos
                  Africa (Pty) Ltd., Century Casinos, Inc. (not as a shareholder
                  or party, but for clauses  4.2.3  and  6.7  of  this agreement
                  only), Caledon Hotel Spa and Casino Resort  (Pty)  Limited,
                  Fortes  King  Hospitality (Pty) Limited, The Overberger
                  Country  Hotel  and  Spa  (Pty)  Limited,  and  Senator  Trust

     10.88        Memorandum of Agreement, dated January 7, 2000, by and
                  between B.H. Centrum a.s (a subsidiary of Ilbau and Bau
                  Holding) and Century Casinos, Inc.

     10.89        Assumption  and  Modification  Agreement,  dated February 7,
                  2000, by and between Marcie I. Elliott ("Optionor") and
                  WMCK Venture Corporation ("Optionee")

     10.90        Commercial  Contract  to  Buy  and  Sell  Real Estate, dated
                  November  17,  1999,  by  and  between  WMCK  Venture
                  Corporation ("Buyer") and Saskatchewan  Investments,  Inc.
                  ("Seller")

     10.91        Prepayment  and  Release,  dated  January  19,  2000, by and
                  between  Switzerland  County  Development  Corp. and Century
                  Casinos Management, Inc.

     10.92        Amendment  No. 1 to Parking Lease - Option to Purchase, dated
                  February 17,  2000,  by  and  between  City  of Cripple
                  Creek ("Lessor") and WMCK Venture Corporation  ("Lessee")

     12.    The following exhibits were filed with the Form 10-QSB for the
            quarterly period  ended  March  31,  2000  and  is  incorporated
            by  reference:

     Exhibit  No.          Description
     ------------          -----------

     10.93        Amended  and  Restated  Credit  Agreement,  by and among,
                  WMCK Venture Corp.,  Century  Casinos  Cripple  Creek,  Inc.,
                  and  WMCK  Acquisition  Corp.  (collectively,  the
                  "Borrowers"),  Century  Casinos, Inc. (the "Guarantor") and
                  Wells  Fargo  Bank,  National  Association,  dated  April
                  21,  2000.

     10.94        Loan  Agreement  between Century Casinos Africa (Proprietary)
                  Limited, Caledon  Casino  Bid Company (Proprietary) Limited,
                  Caledon Overberg Investments (Proprietary)  Limited,  and
                  Century Casinos, Inc. (for purposes of clause 14.6
                  only),  dated  March  31,  2000.


     10.95        Subscription  Agreement  between  Century Casinos Africa
                  (Proprietary) Limited,  Caledon  Casino  Bid  Company
                  (Proprietary) Limited, Caledon Overberg Investments
                  (Proprietary)  Limited,  and Century Casinos, Inc.
                  (for purposes of clause  10.6  only),  dated  March  31,
                  2000.

                                       24
<PAGE>


     13.    The following exhibits were filed with the Form 10-QSB for the
            quarterly period  ended  June  30,  2000  and  is  incorporated
            by  reference:

     Exhibit  No.          Description
     ------------          -----------


     10.96        Loan  Agreement,  dated  April  13,  2000, between PSG
                  Investment Bank Limited  and  Caledon  Casino  Bid  Company
                 (Proprietary)  Limited

     10.97       Subordination,  Cession  and  Pledge  Agreement, dated April
                 13, 2000, between  PSG  Investment  Bank  Limited,  Century
                 Casinos  Africa (Proprietary) Limited,  Caledon Overberg
                 Investments (Proprietary) Limited, and Caledon Casino
                 Bid  Company  (Proprietary)  Limited

     14.    The  following  exhibits  are  filed  herewith:

     Exhibit  No.          Description
     ------------          -----------

     10.98       Shareholders Agreement, dated November 4, 2000, by and between
                 Caledon Casino  Bid  Company  (Pty) Limited, Caledon Overberg
                 Investments (Pty) Limited, Century  Casinos  Africa (Pty) Ltd.,
                 Century Casinos, Inc. (not as a shareholder
                 or  party,  but for clauses 8.5, 15.1 and 15.2 of this
                 agreement only), Overberg Empowerment  Company  Limited  and
                 The  Overberg  Community  Trust

     10.99       Sale  of  Shares  Agreement,  dated  November  4,  2000 by and
                 between Caledon  Casino  Bid  Company  (Pty) Limited, Caledon
                 Overberg Investments (Pty) Limited  and  Century  Casinos  Inc.



     21.         Subsidiaries  of  the  Registrant

     23.1        Consent  of  Independent  Accountants


b.     Reports  on Form 8-K Filed During the Registrant's Fourth Fiscal Quarter:
       ------------------------------------------------------------------------
        No  reports  on  Form 8-K were filed by the Company during the fourth
        quarter of its  fiscal  year  ended  December  31,  2000.
                                       25
<PAGE>


                                   SIGNATURES

     Pursuant  to  the  requirements  of  Section  13 or 15(d) of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized, in the City of Cripple
Creek,  State  of  Colorado  on  March  23,  2001.

                              CENTURY  CASINOS,  INC.

                              By:/s/  Erwin  Haitzmann
                                 ---------------------
                                 Erwin  Haitzmann,  Chairman  of the Board and
                                 Chief  Executive  Officer


                                   /s/  Larry  Hannappel
                                   ---------------------
                                   Larry  Hannappel,  Chief  Accounting  Officer
                                   (Principal  Accounting  Officer)

                                POWER OF ATTORNEY

     KNOW  ALL  MEN  BY THESE PRESENTS, that each person whose signature appears
below  constitutes  and  appoints  Erwin  Haitzmann,  his  true  and  lawful
attorneys-in-fact  and  agents,  with  full  power  of  substitution  and
resubstitution,  for  him  and  in  his  name,  place  and stead, in any and all
capacities,  to sign any and all amendments to this Form 10-KSB, and to file the
same,  with  all  exhibits  thereto,  and  other  documentation  in  connection
therewith,  with  the  Securities  and  Exchange  Commission, granting unto said
attorneys-in-fact  and agent full power and authority to do and perform each and
every  act  and  thing  requisite  and  necessary  to  be  done in and about the
premises,  as  fully  to  all  intents  and  purposes as he might or could do in
person,  hereby  ratifying  and  confirming  all that said attorneys-in-fact and
agent,  or his substitute or substitutes, may lawfully do or cause to be done by
virtue  hereof.

     Pursuant  to  the requirements of the Securities Exchange Act of 1934, this
report  has been signed by the following persons on behalf of the Registrant and
in  the  capacities  indicated  on  March  23,  2001.

<TABLE>
<CAPTION>


<S>                   <C>                         <C>                       <C>
Signature                  Title                       Signature                 Title
---------                  ------                      ---------                 -----

/s/ Erwin Haitzmann   Chairman of the Board and   /s/ Gottfried Schellmann      Director
-------------------                              -------------------------
Erwin Haitzmann       Chief Executive Officer     Gottfried Schellmann

/s/ Peter Hoetzinger  Vice Chairman of the Board  /s/ Robert S. Eichberg        Director
--------------------                              ----------------------
Peter Hoetzinger      and President               Robert S. Eichberg

/s/ James D. Forbes   Director                    /s/ Dinah Corbaci             Director
-------------------                               -----------------
James D. Forbes                                   Dinah Corbaci
</TABLE>
                                       26
<PAGE>


<TABLE>
<CAPTION>
<S>                              <C>
                                  CENTURY  CASINOS,  INC.
                       INDEX  TO  CONSOLIDATED  FINANCIAL  STATEMENTS



                                                                                         Page Number
                                                                                         -----------

<S>                                                                                             <C>
Independent Auditors' Reports                                                                 F2
Consolidated Balance Sheet as of December 31, 2000                                            F4
Consolidated Statements of Earnings for the Years Ended                                       F5
December 31, 2000 and 1999
Consolidated Statements of Shareholders' Equity for the Years                                 F6
Ended December 31, 2000 and 1999
Consolidated Statements of Cash Flows for the Years                                           F7
Ended December 31, 2000 and 1999
Notes to Consolidated Financial Statements                                                    F9
</TABLE>




                                       F1
<PAGE>
INDEPENDENT  AUDITORS'  REPORT


To  the  Board  of  Directors  and  Shareholders
     of  Century  Casinos,  Inc.

We  have audited the accompanying consolidated balance sheet of Century Casinos,
Inc.  and  subsidiaries  as  of  December 31, 2000, and the related consolidated
statements  of  earnings,  shareholders' equity and cash flows for the year then
ended.  These  financial  statements  are  the  responsibility  of the Company's
management.  Our  responsibility  is  to  express  an opinion on these financial
statements  based  on  our  audit.

We  conducted our audit in accordance with auditing standards generally accepted
in  the  United  States  of  America.  Those  standards require that we plan and
perform  the  audit  to  obtain reasonable assurance about whether the financial
statements are free of material misstatement.  An audit includes examining, on a
test  basis,  evidence  supporting  the amounts and disclosures in the financial
statements.  An audit also includes assessing the accounting principles used and
significant  estimates  made  by  management,  as well as evaluating the overall
financial  statement  presentation.  We  believe  that  our  audit  provides  a
reasonable  basis  for  our  opinion.

In  our  opinion,  the financial statements referred to above present fairly, in
all  material  respects, the consolidated financial position of Century Casinos,
Inc.  and  subsidiaries  at  December  31, 2000, and the consolidated results of
their  operations  and  their consolidated cash flows for the year then ended in
conformity with accounting principles generally accepted in the United States of
America.


GRANT  THORNTON  LLP

Colorado  Springs,  Colorado
February  2,  2001

                                       F2
<PAGE>
INDEPENDENT  AUDITORS'  REPORT


To  the  Board  of  Directors  and  Shareholders
     of  Century  Casinos,  Inc.

We  have  audited   the  accompanying  consolidated   statements   of  earnings,
Shareholders' equity  and  cash flows of Century Casinos, Inc. and  subsidiaries
for the year ended  December  31 , 1999.  These  financial  statements  are  the
responsibility of the Company's management.  Our responsibility is to express an
opinion on these financial statements based on our audit.

We conducted our audit in accordance with  auditing standards generally accepted
In the United States of America.   Those  standards  require that  we  plan  and
perform   the  audit to  obtain reasonable assurance about whether the financial
statements are free of material misstatement.  An audit includes examining, on a
test basis,   evidence supporting  the amounts  and disclosures in the financial
statements.    An audit also includes assessing  the  accounting principles used
and significant estimates  made by management, as well as evaluating the overall
financial statement  presentation.    We  believe  that  our  audit  provides  a
reasonable  basis  for  our  opinion.

In  our  opinion,  such consolidated financial statements present fairly, in all
material  respects, the results of operations and cash flows  of Century Casinos
Inc.  and  subsidiaries for the year ended December  31, 1999 in conformity with
accounting principles generally accepted in the United States of America.


DELOITTE & TOUCHE  LLP

Denver, Colorado
March 6, 2000

                                       F3
<PAGE>

<TABLE>
<CAPTION>

CENTURY  CASINOS,  INC.  AND  SUBSIDIARIES
CONSOLIDATED  BALANCE  SHEET
(Dollar amounts in thousands)
<S>                                                                        <C>
                                                                           DECEMBER 31, 2000
                                                                           -------------------

ASSETS

Current Assets:
 Cash and cash equivalents                                                 $            9,077
 Receivables                                                                              875
 Prepaid expenses and other                                                               936
                                                                           -------------------
   Total current assets                                                                10,888

Property and Equipment, Net                                                            33,268
Goodwill, Net                                                                           9,414
Other Assets                                                                            2,552
                                                                           -------------------
Total                                                                      $           56,122
                                                                           ===================

LIABILITIES AND SHAREHOLDERS' EQUITY

Current Liabilities:
 Current portion of long-term debt                                         $            7,314
 Accounts payable and accrued liabilities                                               4,489
                                                                           -------------------
   Total current liabilities                                                           11,803

Long-Term Debt, less current portion                                                   20,314
Minority Interest                                                                       1,035
Commitments and Contingencies
Shareholders' Equity:
 Preferred stock; $.01 par value; 20,000,000 shares
     authorized; no shares issued and outstanding      -
 Common stock; $.01 par value; 50,000,000 shares
     authorized; 14,485,776 shares issued; 14,021,284 shares outstanding                  145
 Additional paid-in capital                                                            21,910
 Accumulated other comprehensive loss                                                    (659)
 Retained earnings                                                                      2,392
                                                                           -------------------
                                                                                       23,788
 Treasury stock - 464,492 shares, at cost                                                (818)
                                                                           -------------------
           Total shareholders' equity                                                  22,970
                                                                           -------------------
Total                                                                      $           56,122
                                                                           ===================
</TABLE>

See  notes  to  consolidated  financial  statements.

                                       F4
<PAGE>

<TABLE>
<CAPTION>

CENTURY  CASINOS,  INC.  AND  SUBSIDIARIES
CONSOLIDATED  STATEMENTS  OF  EARNINGS
(Dollar  amounts  in  thousands)


<S>                                               <C>       <C>
                                                             FOR THE YEAR ENDED DECEMBER 31,
                                                             -------------------------------

                                                                2000                1999
                                                              --------            --------
Operating Revenue:
 Casino                                                    $  27,703            $  22,726
 Food and beverage                                             1,377                  933
 Hotel                                                           257                  149
 Other                                                           427                  429
                                                           ---------            ----------
                                                              29,764               24,237
 Less promotional allowances                                   (755)                 (653)
                                                           ---------            ----------
   Net operating revenue                                      29,009               23,584
                                                           ---------            ----------
Operating Costs and Expenses:
 Casino                                                       10,202                8,878
 Food and beverage                                               761                  504
 Hotel                                                           416                  161
 General and administrative                                    8,004                6,710
 Depreciation and amortization                                 3,753                3,310
                                                           ---------            ----------
   Total operating costs and expenses                         23,136               19,563
                                                           ---------            ----------

Earnings from Operations                                       5,873                4,021
 Other expense, net                                             (20)                  (54)
                                                           ---------            ----------
Earnings before Income Taxes and Minority Interest             5,853                3,967
 Provision for income taxes                                    2,542                1,746
                                                           ---------            ----------
Earnings before Minority Interest                              3,311                2,221
 Minority interest in subsidiary profits                        (58)                    0
                                                           ---------            ----------
Net Earnings                                               $   3,253            $   2,221
                                                           =========            ==========


Earnings Per Share, Basic                                  $    0.23            $    0.15
                                                           =========            ==========
Earnings Per Share, Diluted                                $    0.22            $    0.15
                                                           =========            ==========
</TABLE>

See  notes  to  consolidated  financial  statements.


                                       F5
<PAGE>

<TABLE>
<CAPTION>

<S>                                              <C>            <C>           <C>              <C>             <C>
CENTURY CASINOS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
FOR THE YEARS ENDED DECEMBER 31, 2000 AND 1999
(Dollar amounts in thousands)

                                                          Accumulated    Retained
                                             Additional      Other       Earnings
                             Common Stock     Paid -in   Comprehensive  Accumulated    Treasury Stock       Total   Comprehensive
                         Shares      Amount   Capital    Income (Loss)   Deficit      Shares      Amount            Income (Loss)
                       ----------   -------  ---------   -------------  -----------   ---------   --------   ------  ---------
BALANCE AT JANUARY    15,861,885     $159     $23,323    $(15)          $(3,082)      1,157,100   $(1,237)  $19,148
 1, 1999

Purchases of                                                                            227,900      (227)     (227)
 treasury stock

Foreign currency                                          (17)                                                  (17)  $(17)
 translation
 adjustments

Other equity                                        6                                                             6
 changes

Net earnings                                                             2,221                                2,221   2,221

                      ----------     ----     -------    -----          ------        ---------   --------  -------  ------
BALANCE AT DECEMBER   15,861,885      159      23,329     (32)           (861)        1,385,000    (1,464)   21,131  $2,204
31, 1999                                                                                                             ======

Purchases of                                                                            464,800      (818)     (818)
 treasury stock

Options                    8,891        -           2                                                             2
 exercised

Re-issued                                           -                                      (308)        -         -
 treasury shares

Retired               (1,385,000)     (14)     (1,449)                               (1,385,000)    1,464         1
 treasury shares

Foreign currency                                         (627)                                                 (627) $(627)
 translation
 adjustments

Other equity                                       28                                                            28
 changes

Net earnings                                                             3,253                                3,253   3,253

                      ----------     ----     -------    ------         ------          -------   ------    -------  ------
BALANCE AT DECEMBER   14,485,776     $145     $21,910    $(659)         $2,392          464,492   $(818)    $22,970  $2,626
 31, 2000             ==========     ====     =======    ======         ======          =======   ======    =======  ======

</TABLE>
See notes to consolidated financial statements.
                                       F6
<PAGE>
<TABLE>
<CAPTION>

CENTURY  CASINOS,  INC.  AND  SUBSIDIARIES
CONSOLIDATED  STATEMENTS  OF  CASH  FLOWS
(Dollar  amounts  in  thousands)


<S>                                                                      <C>                                <C>
                                                                                     FOR THE YEAR ENDED DECEMBER 31,
                                                                                     -------------------------------

                                                                                          2000               1999
                                                                                          ----               ----

Cash Flows from Operating Activities:
 Net earnings                                                                          $   3,253          $   2,221
 Adjustments to reconcile net earnings to net cash provided by
   operating activities:
   Depreciation                                                                            2,411              1,969
   Amortization of goodwill                                                                1,342              1,342
   Amortization of deferred financing costs                                                   88                127
   Income from sale of casino project rights                                             (1,380)             (1,040)
   (Gain) loss on disposition of assets                                                     (80)                 10
   Deferred tax benefit                                                                    (446)                (99)
   Minority interest in net earnings of consolidated subsidiaries                             58                  -
   Other noncash charges                                                                      34                  6
   Changes in operating assets and liabilities:
     Receivables                                                                           (164)               (514)
     Prepaid expenses and other assets                                                     (358)                (47)
     Accounts payable and accrued liabilities                                              2,304               (132)
                                                                                       ---------          ----------
     Net cash provided by operating activities:                                            7,062              3,843
                                                                                       ---------          ----------

Cash Flows from Investing Activities:
 Purchases of property and equipment                                                    (12,863)             (2,645)
 Sales (purchases) of short-term investment securities, net                                    8              1,039
 Proceeds from sale of casino project rights                                               1,380              1,040
 Expenditures for deposits and other assets                                              (1,179)               (353)
 Proceeds received from disposition of assets                                                571                  8
 Acquisition of subsidiary, net of cash acquired                                         (1,858)                  -
                                                                                       ---------          ----------
     Net cash used in investing activities                                              (13,941)               (911)
                                                                                       ---------          ----------
</TABLE>

                          -Continued on following page-
                                       F7
<PAGE>
<TABLE>
<CAPTION>

CENTURY  CASINOS,  INC.  AND  SUBSIDIARIES
CONSOLIDATED  STATEMENTS  OF  CASH  FLOWS  (CONTINUED)
(Dollar amounts in thousands)
<S>                                                                                <C>                                <C>

                                                                                     FOR THE YEAR ENDED DECEMBER 31,
                                                                                     -------------------------------

                                                                                          2000               1999
                                                                                          ----               ----
Cash Flows from Financing Activities:
 Proceeds from borrowings                                                              $ 31,401           $ 12,991
 Principal repayments                                                                  (16,754)            (15,363)
 Deferred financing costs                                                                 (273)                  -
 Purchases of treasury stock                                                              (818)               (227)
                                                                                       --------           ---------

     Net cash provided by (used in) financing activities                                 13,556             (2,599)
                                                                                       --------           ---------
Effect of exchange rate changes on cash                                                   (108)                  -
                                                                                       --------           ---------
Increase in Cash and Cash Equivalents                                                     6,569                333
Cash and Cash Equivalents at Beginning of Year                                            2,508              2,175
                                                                                       --------           ---------
Cash and Cash Equivalents at End of Year                                               $  9,077           $  2,508
                                                                                       ========           =========

Supplemental Disclosure of Noncash Investing and Financing Activities:

 Issuance of notes to former principals of Gold Creek Associates                      $    -              $  1,095
                                                                                      ========            =========
 In connection with the subsidiary acquired, liabilities were assumed as follows:

  Fair value of assets acquired, including cash of $881                               $  6,707            $      -
  Cash Paid                                                                            (2,739)                   -
                                                                                      --------            ---------
 Liabilities assumed                                                                  $  3,968            $      -
                                                                                      ========            =========

Supplemental Disclosure of Cash Flow Information:

 Interest paid                                                                        $  1,416            $    947
                                                                                      ========            =========
 Income taxes paid                                                                    $  2,461            $  1,883
                                                                                      ========            =========
</TABLE>



See  notes  to  consolidated  financial  statements.

                                       F8
<PAGE>
CENTURY  CASINOS,  INC.  AND  SUBSIDIARIES
NOTES  TO  CONSOLIDATED  FINANCIAL  STATEMENTS
(Dollar  amounts  in  thousands)

1.   DESCRIPTION  OF  BUSINESS  AND  BASIS  OF  PRESENTATION
     Century Casinos, Inc. and subsidiaries (the  "Company") is an international
     gaming company which owns and operates a limited-stakes gaming casino in
     Cripple Creek,  Colorado,  manages  a  casino  within  a  hotel located in
     Prague, Czech Republic,  owns  65% of, is developing, and manages a hotel
     and casino resort in Caledon,  South  Africa, and serves as concessionaire
     of small casinos on luxury cruise  vessels.  The  Company regularly pursues
     additional gaming opportunities internationally and in the United States.

     The  Company's  operations  in  Cripple  Creek,  Colorado  began  with
     the 1994 acquisition  of  Legends Casino ("Legends"), followed by the 1996
     acquisition of Womack's  Saloon  &  Gaming Parlor ("Womacks"), which is
     immediately adjacent to Legends.  Following  the  acquisition  of  Womacks,
     interior  renovations  were undertaken  on  both properties to facilitate
     the operation and marketing of the combined  properties  as  one  casino
     under  the  name  Womacks/Legends Casino.

     In  July  1999, the Company began providing management services and leasing
     gaming  equipment  to  the  Casino Millennium, located in the five-star
     Marriott Hotel  in  Prague,  Czech Republic.  In January 2000, the Company
     entered into a memorandum  of  agreement  to  acquire  a  50%  ownership
     interest  in  Casino Millennium.  The  Company is in the process of
     negotiating a definitive purchase agreement.

     In  April  2000,  the  Company's  South African subsidiary acquired a 50%
     equity interest  in  Caledon  Casino  Bid  Company (Pty) Limited ("CCBC").
     CCBC owns a 92-room  resort  hotel  and  spa and approximately 600 acres of
     land in Caledon, South  Africa and was awarded a casino license for the
     project.  The Company has a  long-term  agreement  to  manage the
     operations of the casino, which began on October  11,  2000.  In  November
     2000  the  Company, through its South African subsidiary,  increased  its
     equity  interest  in CCBC by 15%  raising its total ownership  to  65%.

     In  May  2000,  the  Company  entered  into  a  five-year  agreement to
     serve as concessionaire  of small casinos providing unlimited-stakes gaming
     operations on four  luxury  cruise  vessels.  The Company will operate the
     casinos for its own account  and  pay  concession  fees  based  on
     passenger count and gross gaming revenue.  On  September  18, 2000 the
     Company announced the opening of the first of  four casinos with 55 gaming
     positions.  In October 2000 the Company opened a second  casino  and,  in
     November  2000,  opened a third aboard a luxury cruise vessel.  In August
     2000, the Company entered into a five-year agreement to serve as
     concessionaire of a small casino aboard a vessel designed to be an
     exclusive residential  community  at sea.  The Company will operate the
     casino for its own account and pay concession fees based on gross
     gaming revenue.  The maiden voyage of  the  residential  cruise  liner
     is  expected early  in  2002.

2.   SIGNIFICANT  ACCOUNTING  POLICIES
     Consolidation  - The accompanying consolidated financial statements include
     the accounts of the Company and its majority-owned subsidiaries. All
     significant intercompany  transactions  and  balances  have  been
     eliminated.
                                       F9
<PAGE>
     Use  of  Estimates  - The preparation of financial statements in conformity
     with  accounting  principles  generally accepted in the United States of
     America requires  management  to make estimates and assumptions that affect
     the reported amount  of  assets  and  liabilities  and  disclosure  of
     contingent assets and liabilities  at the date of the financial statements
     and the reported amounts of revenues  and expenses during the reporting
     period.  Actual results could differ from  those  estimates.

     Cash  Equivalents - All highly liquid investments with an original maturity
     of  three  months  or  less  are  considered  to  be  cash  equivalents.

     Fair  Value of Financial Instruments - In accordance with the reporting and
     disclosure  requirements of Statement of Financial Accounting Standards
     ("SFAS") No.  107,  "Disclosures  about Fair Value of Financial
     Instruments," the Company calculates  the fair value of financial
     instruments and includes this additional information  in  the  notes to
     its financial statements when the fair value does not  approximate  the
     carrying  value  of  those  financial  instruments.  The Company's
     financial  instruments  include  cash and cash equivalents, long-term
     debt and an interest rate swap agreement.  Fair value is determined using
     quoted market  prices whenever available.  When quoted market prices are
     not available, the  Company  uses  alternative  valuation  techniques
     such  as calculating the present  value  of  estimated future cash flows
     utilizing risk-adjusted discount rates.  Except  for  the  interest rate
     swap agreements (see Note 5), which have no carrying  value in the
     consolidated financial statements, the Company's carrying value  of
     financial  instruments  approximates fair value at December 31, 2000.

     Property  and  Equipment  -  Property  and  equipment  are  stated at cost.
     Depreciation  of  assets  in  service is provided using the straight-line
     method over  the  estimated  useful  lives  or  the  applicable lease
     term, if shorter.

     Goodwill  -  Goodwill  represents  the  excess  of  purchase price over net
     identifiable  assets  acquired.  Goodwill  recognized  in  the 1994 Alpine
     stock acquisition  has  an  unamortized balance of $2,381 at December 31,
     2000, and is being  amortized  on  a straight-line basis over 10 years.
     The Company acquired the  Legends Casino operation  through a merger with
     Alpine Gaming Inc. Goodwill recognized  in  the 1996 Gold Creek asset
     acquisition has an unamortized balance of  $6,193  at December 31, 2000 and
     is being amortized on a straight-line basis over  15  years.  In  the  Gold
     Creek  acquisition,  the  Company  acquired substantially  all  of  the
     assets and assumed all of the liabilities of Womacks Casino  which  was
     consolidated  with  the  Company's Legends Casino.  Goodwill
     recognized  in  the 2000 CCBC stock acquisition was $840 which will be
     amortized on  a straight-line basis over 10 years.  Total accumulated
     amortization for all goodwill  is  $7,814  as  of  December  31,  2000.

     Impairment of Long-Lived Assets - The Company reviews long-lived assets for
     possible  impairment whenever events or circumstances indicate that the
     carrying amount  of  an  asset  may  not  be  recoverable.  If  there is an
     indication of impairment,  which  is  estimated  as  the  difference
     between  anticipated undiscounted  future  cash  flows and carrying value,
     the carrying amount of the asset  is  written  down  to its estimated fair
     value by a charge to operations.  Fair  value  is  estimated  based  on the
     present value of estimated future cash flows  using  a discount rate
     commensurate with the risk involved.  Estimates of future  cash  flows are
     inherently subjective and are based on management's best assessment  of
     expected  future  conditions.

     Revenue Recognition - Casino revenue is the net win from gaming activities,
     which  is  the  difference  between  gaming  wins  and  losses.  Management
     and consulting  fees  are  recognized  as  revenue  as  services  are
     provided.

     Promotional  Allowances  -  Food  and  beverage furnished without charge to
     customers  is included in gross revenue at a value which approximates
     retail and then  deducted as complimentary services to arrive at net
     revenue. The estimated cost  of  such  complimentary  services is charged
     to casino operations, and was $829  in  2000  and  $855  in  1999.

                                      F10
<PAGE>
     Foreign Currency Translation - Adjustments resulting from the translation
     of the accounts of the Company's Austrian and South African subsidiaries
     from the local functional  currency  to U.S. dollars are recorded as other
     comprehensive income or  loss  in  the  consolidated  statements of
     shareholders' equity. Adjustments resulting  from  the  translation  of
     transactions  which  are denominated in a currency  other  than  U.S.
     dollars  are recognized in the statement of earnings.

     Income  Taxes  -  The Company accounts for income taxes using the liability
     method,  which  provides  that  deferred tax assets and liabilities are
     recorded based  on  the  difference  between  the tax bases of assets and
     liabilities and their  carrying  amounts for financial reporting
     purposes, at a rate expected to be  in  effect  when  the  differences
     become  deductible  or  payable.

     Stock-Based  Compensation  - Statement of Financial Accounting Standards
     No. 123 (SFAS  123), "Accounting for Stock-Based Compensation,"
     encourages, but does not require  companies  to  record  compensation cost
     for  stock-based  employee compensation  plans  at  fair  value.  The
     Company  has  chosen  to account for stock-based  compensation  for
     employees  using  the  intrinsic  value  method prescribed  in
     Accounting Principles Board Opinion No. 25 (APB 25), "Accounting
     for  Stock  issued  to  Employees",  and  related Interpretations.
     Accordingly, compensation  cost  for  stock options is measured as the
     excess, if any, of the quoted  market  price  of  the Company's stock at
     the date of the grant over the amount  an employee must pay to acquire
     that stock.  The Company follows SFAS 123 for  valuing  stock-based
     compensation  granted  to  non-employees.

     Earnings  Per  Share  -  The  Company  follows  the provisions of SFAS No.
     128, "Earnings per Share," in calculating basic and diluted earnings per
     share. Basic earnings  per share considers only weighted-average
     outstanding common shares in the  computation.  Diluted  earnings  per
     share gives effect to all potentially dilutive  securities.

     Comprehensive  Income  -  The  Company  follows  SFAS  No.  130,
     "Reporting Comprehensive  Income,"  which provides for a more inclusive
     financial reporting measure  than  net income, and includes all changes in
     equity during the period, except  those  resulting from investments by,
     and distributions to, shareholders of  the  Company.

     Operating  Segments  -  The  Company has adopted SFAS No. 131 "Disclosures
     about Segments  of  an Enterprise and Related Information" which
     establishes standards for  public  business enterprises to report
     information about operating segments in  annual  financial  statements
     and  in  condensed interim  financial reports issued to shareholders.

     Recently  Issued  Accounting Pronouncements - In 1998, the Financial
     Accounting Standards  Board  (FASB)  issued  SFAS  No.  133,  "Accounting
     for  Derivative Instruments  and Hedging Activities," which establishes
     accounting and reporting standards  for  derivative instruments and
     hedging activities. The pronouncement requires  that  a  company designate
     the intent of a derivative to which it is a party,  and  prescribes
     measurement and recognition criteria based on the intent and
     effectiveness of the designation.  In 2000, FASB issued SFAS No. 138,
     "Accounting  for  Certain Derivative Instruments and Certain Hedging
     Activities" which amends SFAS No. 133.  SFAS No. 138 amends the accounting
     and  reporting  standards for  certain derivative instruments  and certain
     hedging  activities, including  amendments to normal purchases and  normal
     sales, interest rate risk, hedging recognized foreign currency denominated
     assets  and liabilities  and  intercompany  derivative provisions  of
     SFAS  No. 133. The Company will be required to adopt SFAS No. 133 and
     SFAS No. 138 no later than the first quarter of 2001.  As of
     December 31, 2000, the  interest  rate  swap agreements  had  a fair value
     of ($279) which would be recorded  as  a  liability and as a charge to
     equity on the balance sheet of the Company  at  January  1,  2001.



                                      F11
<PAGE>
     Also  in 2000, FASB issued SFAS No. 140, "Accounting for Transfers and
     Servicing of Financial Assets and Extinguishments of Liabilities"  which
     replaces SFAS No. 125.  SFAS  No.  140 revises some of the standards for
     accounting for collateral and for securitizations and other transfers of
     financial assets and is effective for  fiscal years ending after December
     15, 2000.  SFAS No. 140 had no effect on income  or  the  financial
     position  of  the  Company for 2000, and the Company currently  does
     not  anticipate  any  material  effect  on its future financial
     statements.

     Advertising  Costs  - Costs incurred for producing and communicating
     advertising are  expensed when incurred.  Advertising expense was $156
     and $47 for the years ended  December  31,  2000  and  1999,  respectively.

     Reclassifications - Certain reclassifications have been made to the 1999
     financial information in order to conform to the 2000 presentation.

3.     RECEIVABLES  FROM  OFFICERS/DIRECTORS
       At  December  31,  2000,  the  Company  had  outstanding
       receivables  from officers/directors  totaling $119, all of which is
       due in 2001 and is classified a  current  asset.    The  receivables
       are  noninterest  bearing.

                                      F12
<PAGE>

4.     PROPERTY  AND  EQUIPMENT
       Property and equipment at December  31, 2000, consist of the following:
                                                                      Estimated
                                                                    Service Life
                                                                      in Years
                                                                      --------
       Land                                   $    11,167
       Buildings and improvements                  16,676               7 - 31
       Gaming equipment                             9,005               3 - 7
       Furniture and office equipment               2,943               5 - 7
       Other equipment                              1,087               3 - 7
       Capital projects in process                     50
                                              -----------
                                                   40,928
       Less accumulated depreciation              (8,580)
                                              -----------
                                                   32,348
       Nonoperating casino and                        920
        land held for sale                    -----------
       Property and equipment, net           $     33,268
                                             ============

       In  June  1998,  the  Company began leasing parking spaces from the City
       of Cripple  Creek  under a five-year agreement which requires annual
       lease payments of  $90.  The  agreement  contains  a  purchase  option
       whereby the Company may purchase  the  property for $3,250, less
       cumulative lease payments ($232 through December  31,  2000),  at any
       time during the lease term.  In February 2000, the agreement  was
       amended  to  extend  the  term  to  2010.

       In  March  1999,  the  Company  entered  into  a purchase option
       agreement for a property  in  Cripple  Creek,  Colorado,  situated
       across  the  street from its Womacks/Legends Casino on Bennett Avenue.
       The agreement, as amended on February 7,  2000,  expires  March  31, 2004
       and provides for option payments as follows: 2000  -  $37;
       2001 - $49; 2002 - $24; 2003 - $24; and 2004 - $6. The Company may
       exercise  its option to purchase the property at any time during that
       period for a  price  of  $1,500,  less  50%  of  cumulative  monthly
       option  payments.

       The  nonoperating  casino  and  land  is located in Nevada and is
       carried at estimated net realizable  value.


                                      F13
<PAGE>

5.     LONG-TERM  DEBT
Long-term  debt  at  December  31,  2000,  consists  of  the  following:

<TABLE>
<CAPTION>



<S>                                                                       <C>
 Borrowings under revolving line of credit facility with Wells Fargo bank        $18,640
 Borrowings under loan agreement with PSG bank                                     5,558
 Note payable to minority shareholder                                              1,492
 Capital leases for various equipment                                                664
 Notes payable to former principals of Gold Creek                                    435
 Note payable to founding shareholder, unsecured                                     380
 Convertible debenture                                                               300
 Note payable to director, unsecured                                                  85
 Other unsecured note payables                                                        74
                                                                                 --------
 Total long-term debt                                                             27,628
 Less current portion                                                             (7,314)
                                                                                 --------
 Long-term portion                                                               $20,314
                                                                                 ========
</TABLE>

On April 26, 2000, the Company and Wells Fargo Bank (the "Bank") entered into an
Amended  and  Restated  Credit  Agreement  (the "Agreement") which increased the
Company's aggregate borrowing commitment from the Bank under a Revolving Line of
Credit  Facility  ("RCF") to $26 million and extended the maturity date to April
2004.  The  aggregate  commitment  available  to  the  Company  will  be reduced
quarterly by $722 beginning October 2000 through the maturity date.  Interest on
the  Agreement  is  variable  based  on the interest rate option selected by the
Company,  plus  an applicable margin based on the Company's leverage ratio.  The
Agreement  also requires a nonusage fee based on the Company's leverage ratio on
the  unused  portion of the commitment.  The principal balance outstanding under
the  loan  agreement  as of December 31, 2000 was $18,640.  The amount available
under  the RCF as of December 31, 2000 was $6,638, net of amounts outstanding as
of  that  date.  The  loan agreement includes certain restrictive covenants, the
most  significant  of  which  include  i)  WMCK  Venture  Corp.,  a wholly-owned
subsidiary  of  the  Company,  must maintain a maximum leverage ratio no greater
than  3.10  to  1.00,  ii)  WMCK  Venture Corp. must maintain a minimum interest
coverage  ratio  no  less  than  1.50  to 1.00, and iii) WMCK Venture Corp. must
maintain  a TFCC ratio ( a derivative of EBITDA, as defined in the agreement) of
no  less than 1.10 to 1.00.  The loan is collateralized by a deed of trust and a
security  agreement with assignments of lease, rents and furniture, fixtures and
equipment.  Interest rates at December 31, 2000 were 9.5% for $7,340 outstanding
under  prime  based  provisions  of the loan agreement  and  9.12%  for  $11,300
outstanding under LIBOR based provisions of the loan agreement(see below).

In  1998,  the  Company entered into a five-year interest rate swap agreement on
$7.5  million  notional amount of debt under the RCF, whereby the Company pays a
LIBOR-based  fixed  rate of 5.55% and receives a LIBOR-based floating rate reset
quarterly  based on a three month rate.  In May 2000, the Company entered into a
second five-year interest rate swap agreement on $4.0 million notional amount of
debt  under  the RCF, whereby the Company pays a LIBOR-based fixed rate of 7.95%
and  receives a LIBOR-based floating rate reset quarterly based on a three month
rate.  Generally,  the  swap  arrangement  is advantageous to the Company to the
extent  that  interest  rates  increase in the future and disadvantageous to the
extent  that they decrease.  The net amount paid or received by the Company on a
quarterly  basis  results  in  an increase or decrease to interest expense.  Net
additional  (reduction  in)  interest  expense  to  the  Company  under the swap
agreement  was ($64) in 2000 and $15 in 1999.  At December 31, 2000, termination
of  the  interest  rate swap agreements would have resulted in a net loss to the
Company  of  approximately  $279.

                                      F14
<PAGE>

In  April  2000,  CCBC  entered  into  a loan agreement with PSG Investment Bank
Limited  ("PSGIB"),  which  agreement  provides  for  a  principal  loan  of
approximately  $6,200  to  fund development of the Caledon project and a working
capital  facility  of  approximately $2,100.  CCBC is required to make principal
payments  beginning  December  2001  and  continuing  over  a  five-year period.
Outstanding  borrowings  bear  interest at the bank's base rate plus 2.75-3.75%.
The  interest rate as of December 31, 2000 was 17.05%.  The shareholders of CCBC
have  pledged  all  of  the  common  shares  held  by  them  in CCBC to PSGIB as
collateral.  The  loan is also collateralized by a first mortgage bond over land
and  buildings  and  a general notorial bond over all equipment.  As of December
31,  2000,  $5.6 million has been advanced against the loan agreement.  The loan
agreement  includes  certain restrictive covenants, as defined in the agreement,
the most significant of which include, i) CCBC must maintain a debt/equity ratio
of  44:56  after  the  first twelve months of operations and a 40:60 debt/equity
ratio after two years of operations, ii) CCBC must maintain an interest coverage
ratio  of  at  least  2.0 after the first twelve months of operations, iii) CCBC
must  maintain  a  debt service coverage ratio of at least 1.3 for the principal
loan  and  1.7 for the working capital facility after the first twelve months of
operations, and iv) CCBC must maintain a loan life coverage ratio of 1.5 for the
principal  loan  and  a  loan life coverage ratio of 2.5 for the working capital
facility.

In  April  2000,  CCBC,  the  Company  and  Caledon  Overberg  Investments
(Proprietary) Limited ("COIL"), the minority shareholder in CCBC, entered into a
note  agreement  as  part  of  the  purchase  of  CCBC.  Under  the terms of the
agreement,  CCBC,  in  exchange  for  the  contribution of certain fixed assets,
entered  into  a loan agreement with COIL in the amount of approximately $2,300.
Under the terms of the agreement, the loan bears interest at the rate of 2% over
the prime/base rate established by PSGIB, and is due on demand subsequent to the
repayment  in full of the loan between CCBC and PSGIB. In November 2000, as part
of  the  Company's  additional equity investment in CCBC, the Company acquired a
portion  of  the  note payable between CCBC & COIL valued at approximately $600.

                                      F15
<PAGE>

     During  the  year  2000,  CCBC entered into a series of lease agreements
     for the purchase of capital equipment.  The average effective interest
     rate on the lease obligations  is  13.5%  and  are  repayable  over  a
     term  of  60  months.

     Assets  under  lease included in property and equipment as of December 31,
     2000:
                                 Original Book Value    Accumulated Depreciation
      Gaming equipment                   $515                             $43
      Furniture and office equipment     $146                             $11
      Other equipment                     $76                              $2
                                         ----                             ---
      Total                              $737                             $56
                                         ====                             ===

     During  the  second  quarter of 1998, the Company reached agreement with
     the two former  principals  of  Gold  Creek to pay them a total of $1,629,
     consisting of cash of $534 and two promissory notes totaling $1,095, in
     lieu of issuing common stock  as  previously  provided  for  in connection
     with the acquisition of Gold Creek's  assets.  The  notes  are  unsecured,
     bear interest at 8.75% and require aggregate  monthly  payments of
     principal and interest of $16 through June 2001, at  which  time,
     the  remaining aggregate principal of $357 is due and payable.

     On  May  30,  1996,  the Company issued a convertible debenture in the
     principal amount  of  $500  to  a private investor.  Simultaneously,
     the Company issued a guaranty  of payment on the otherwise unsecured debt.
     The proceeds were used in financing  the  Gold  Creek acquisition.  The
     debenture bears interest at 10.5%, payable  quarterly.  The  holder  has
     the  option  to  convert,  in one or more transactions,  all  or a portion
     of the outstanding principal into the Company's common stock at
     $1.84 per share, subject to a minimum per conversion transaction
     of  $50.  On August 4, 2000 the Company made a prepayment of $200 in lieu
     of the holder  exercising their right to convert the principal balance to
     stock.  As of December  31, 2000, the Company has the option to prepay the
     debenture, in whole or  in part, at 116% of the outstanding  principal.
     The entire unpaid principal is  due  on  May  30,  2001.

     In  April  1999,  the  terms  of  an  unsecured  note payable to a founding
     shareholder  were  amended.  The  previously existing principal balance of
     $420, plus  accrued  interest of approximately $60, were combined into a
     new principal amount  of  $480.  The  Company concurrently made a
     principal repayment of $100. The  remaining  principal  of $380 bears
     interest at 6%, payable quarterly.  The noteholder,  at  his  option,
     may  elect  to  receive  any or all of the unpaid principal by
     notifying the Company on or before April 1 of any year.  Payment of
     the  principal amount so specified would be required by the Company on or
     before January  1 of the following year.  The entire outstanding principal
     is otherwise due  and  payable  on  April  1,  2004.  Accordingly,  the
     note is classified as noncurrent  in  the  accompanying  consolidated
     balance sheet as of December 31, 2000.

     The consolidated  weighted  average interest rate on all borrowings
     was  9.87% for the year ended December 31, 2000.
<TABLE>
<CAPTION>

     As  of  December  31,  2000,  scheduled  maturities of all long-term
     debt are as follows:

<S>                                  <C>                 <C>      <C>
                                       Future minimum                    Total
                                       lease payment       Other       long term
                                     of capital leases     debt          debt
                                     -----------------     -----       ---------
2001 -                                $  310              $ 7,055       $ 7,365
2002 -                                $  145              $ 1,492       $ 1,637
2003 -                                $  145              $ 1,112       $ 1,257
2004 -                                $  145              $14,251       $14,396
2005 -                                $  117              $ 1,111       $ 1,228
Thereafter                            $   -               $ 1,943       $ 1,943
                                      ------              -------       -------
                                      $  862              $26,964       $27,826

Less amounts representing interest.   $  198              $     -       $   198
                                      ------              -------       -------
Total                                 $  664              $26,964       $27,628
                                      ======              =======       =======
                                      F16
<PAGE>
</TABLE>
6.   SHAREHOLDERS'  EQUITY
     In February 1998, the Company's Board of Directors approved a
     discretionary program  to  repurchase  up  to  $1  million of the
     Company's outstanding common stock.  In  October  1998,  the  Board
     voted to increase the limit on the stock repurchase  program from
     $1 million to an aggregate of $2 million. In March 2000, the
     Board  further  voted to increase the limit on the stock repurchase
     program from  $2  million to an aggregate of $5 million.  Through
     December 31, 2000, the Company  had repurchased 1,849,800 shares of its
     common stock at an average cost per  share of $1.23.  1,385,000 shares of
     its common stock, with an average cost of $1.06 per share, were retired
     in February 2000.  In November 2000, 308 shares of  common  stock
     were  awarded in a drawing amongst investors, leaving 464,492 shares
     remaining as of December 31, 2000, at an average cost per share of $1.76.

     In April 1994, the Board of Directors of the Company adopted the Employees'
     Equity  Incentive  Plan  (the  "Plan"), which was amended effective
     November 22, 1995, and further amended November 25, 1996.  The Plan
     provides for the grant of awards  to  eligible  employees  in  the  form
     of stock, restricted stock, stock options, stock appreciation rights,
     performance shares or performance units, all as  defined  in the Plan.
     The Plan provides for the issuance of up to 4,500,000 shares  of
     common  stock through the various forms of award permitted.  Through
     December  31,  2000,  only  stock option awards had been granted under the
     Plan.  Stock  options may be either incentive stock options, for which the
     option price may  not  be  less  than fair market value at the date of
     grant, or nonstatutory options,  which  may  be  granted at any option
     price.  All options must have an exercise  period  not  to exceed ten
     years.  Options granted to date have either one-year  or  two-year
     vesting  periods.  On  May  1, 2000 the Plan was further amended  to
     provide  the  Incentive  Plan Committee the power and discretion to
     prescribe  the terms and conditions for the exercise of, or modification
     of, any outstanding  Awards  in  the  event  of merger, acquisition or
     any other form of acquisition  other  than  a  reorganization  of  the
     Company under United States Bankruptcy  Code  or  liquidation  of  the
     Company.

     On  February  8,  1999,  the  Company's Board of Directors approved the
     award of options  on  809,000  shares  of the Company's common stock
     under the Employees' Equity  Incentive  Plan.  The options have an
     exercise price of $0.75 per share, vested in their entirety on February
     8, 2000, and have an exercise period of ten years.

     As of December 31, 2000 there were an additional 100,000 options
     outstanding to directors  of the Company.  These options have a
     weighted average exercise price of  $1.09

      Transactions  regarding  the  Plan  are  as  follows:
<TABLE>
<CAPTION>




<S>                                 <C>          <C>      <C>         <C>
                                        2000                           1999
                                      ----------                     ---------
                                            Weighted-                     Weighted-
                                            Average                       Average
                                            Exercise                      Exercise
                                   Shares    Price                Shares   Price
                                   ------    -------              ------   -------
Incentive Stock Options:

Outstanding at January 1        2,906,500   $  1.29            2,606,400   $  1.43
Granted                             -           -                809,000   $  0.75
Exercised                         (8,891)       .82                 -          -
Cancelled or forfeited           (85,309)      1.44            (508,900)      1.07
                               ----------                      ---------
Outstanding at December 31      2,812,300      1.29            2,906,500      1.29
                               ==========                      =========
Options exercisable at          2,812,300   $  1.29            2,273,500     $1.44
December 31                    ==========                      =========
</TABLE>

                                      F17
<PAGE>
Summarized  information  regarding all options outstanding at December 31, 2000,
is  as  follows:
<TABLE>
<CAPTION>



<S>         <C>          <C>            <C>
                                             Weighted-
                            Number            Average               Number
                         Outstanding         Remaining            Exercisable
                        At Year End        Term in Years         At Year End
                       -------------       -------------         ------------
Exercise
Price

0.75                     784,000                7.8                 784,000
1.50                   1,993,300                4.7               1,993,300
1.63                      30,000                5.0                  30,000
2.25                       5,000                4.4                   5,000
                       -------------       -------------         ------------
                       2,812,300.               5.5               2,812,300
                       =============       =============         ============
</TABLE>



     The  Company applies Accounting Principles Board Opinion No. 25 and related
     interpretations  in accounting for options granted under the Plan.
     Accordingly, no  compensation  cost  has  been  recognized  in  the
     accompanying  financial statements.  Had  compensation  cost  for  the
     Plan been determined based on the fair  value  at  the  grant dates for
     awards under the Plan, consistent with the method  recommended,  but not
     required, by SFAS No.123, the Company's net earnings and  earnings  per
     share  would  have  been  adjusted  to the pro forma amounts indicated
     below:
<TABLE>
<CAPTION>


<S>                  <C>           <C>     <C>
                                     2000                  1999
                                     ----                  ----

Net earnings      As reported      $3,253                $2,221
                   Pro forma       $3,233                $1,998

Earnings per share
 Basic            As reported      $ 0.23                $ 0.15
                   Pro forma       $ 0.23                $ 0.13

 Diluted          As reported      $ 0.22                $ 0.15
                   Pro forma       $ 0.22                $ 0.13

</TABLE>
     The  fair  value  of options granted under the Plan was estimated on the
     date of grant  using  the  Black-Scholes  option  pricing  model  with
     the  following assumptions:
                                                                            1999
                                                                            ----
      Weighted-average risk-free interest rate                              5.6%
      Weighted-average expected life                                     10 yrs.
      Weighted-average expected volatility                                   43%
      Weighted-average expected dividends                                    $ 0

     No  options  were granted under the Plan in the year 2000.  The
     weighted-average fair  value  of  the  options  granted  during  1999  was
     $  0.47.
                                      F18
<PAGE>

     Warrants:

     In  1995,  the  Company  entered  into a consulting agreement with a third
     party whereby  the  consultant  will assist the Company, from time to time,
     in seeking investors  and  business  opportunities.  The  agreement
     provides that, upon the consummation  of  certain transactions, the Company
     will issue to the consultant warrants  to  purchase  the  Company's  common
     stock.  The number of shares and exercise  price  are  determined based on
     a formula, which depends upon the type and  size  of transaction
     consummated and the recent trading price of the common stock.
     In connection with a 1995 private placement, the Company issued warrants
     to the consultant for 71,428 shares exercisable at $1.05 per share. The
     warrants had  a  five-year  term  from  the date of issue and expired in
     May 2000 without being exercised. The consulting agreement may be
     terminated by either party upon 30  days  notice.

     In  June  1996, the Company completed a private placement of 4,072,233
     shares of its  common  stock at an average price of $1.43 per share, with
     proceeds, net of selling  commissions,  of  approximately  $4,470,000.
     In  connection  with this private  placement, the Company issued warrants
     to a placement agent to purchase 150,000  shares  of its common stock at
     $2.36 per share.  The warrants expire in June  2001.


     Subsidiary Preference Shares:

     During  the year ended December 31, 2000, the Company's South African
     subsidiary acquired  a  65%  equity  interest  in  Caledon Casino Bid
     Company (Pty) Limited (CCBC)  (note  1).  In connection with the granting
     of a gaming license  to CCBC by the Western Cape Gambling and Racing Board
     in April 2000, CCBC issued a total of  200  preference  shares,  100
     shares each to two minority shareholders.  The preference  shares
     are not cumulative, nor are they redeemable.  The preference
     shares  entitle  the holders of said shares to dividends of 20% of the
     after-tax profits  directly  attributable  to  the CCBC casino business
     subject to working capital  and  capital  expenditure  requirements  and
     CCBC  loan obligations and liabilities  as determined by the directors of
     CCBC.  Should the casino business be  sold or otherwise dissolved, the
     preference shareholders are entitled to 20% of  any  surplus  directly
     attributable to the CCBC casino business, net of all liabilities
     attributable to the CCBC casino business.  Due to the October 2000 opening
     of the casino, the 2000 preference dividend is not significant.

                                      F19
<PAGE>

7.   SEGMENT  INFORMATION
     The  company  has adopted FASB Statement No. 131 " Disclosures about
     Segments of an  Enterprise  and  Related  Information,"  The  Company  is
     managed  in  four segments;  Cripple  Creek  Colorado,  South  Africa,
     Cruise Ships, and Corporate operations.  Corporate  operations  include
     the  revenue and expense of certain corporate gaming projects for which the
     Company has secured long term management contracts.  Earnings  before
     interest,  taxes,  depreciation  and  amortization (EBITDA)  is not
     considered a measure of performance recognized as an accounting
     principle  generally  accepted  in  the  United  States  of America.
     Management believes  that  EBITDA is a valuable measure of the relative
     performance amongst its  operating  segments.  Segment  information  as
     of  and  for the year ended December  31,  2000  is presented below.
     Comparable information is not provided for  1999  because during 1999
     the Company operated as one identifiable segment, Cripple  Creek
     Colorado.
<TABLE>
<CAPTION>



<S>                               <C>                <C>            <C>            <C>                 <C>
Dollar amounts in thousands      Cripple       South    Cruise    Corporate     Intersegment     Consolidated
                                 Creek CO      Africa    Ships      & Other     Elimination
Property and equipment,
net of accumulated depreciation   $  19,275  $  11,759  $  213   $   2,021          -             $  33,268
Total Assets                      $  36,386  $  20,310  $  438   $   2,176      ($3,188)          $  56,122
Net operating revenue             $  24,389  $   4,155  $  189   $     276          -             $  29,009
Depreciation & amortization       $  3,241   $     290  $    6   $     216          -             $   3,753
Interest  income                  $      2   $     112      -    $     372        ($341)          $     145
Interest expense,
including debt issuance cost      $  1,510   $     367      -    $      81        ($341)          $   1,617
Earnings before income taxes
and minority interest             $  4,916   $     666  $   12   $     259           -            $   5,853
Income tax expense(benefit)       $  2,262   $     193       -   $      87           -            $   2,542
Net earnings                      $  2,654   $     416  $   12   $     171                        $   3,253
EBITDA                            $  9,665   $   1,154  $   18   $     183           -            $  11,020

</TABLE>
                                      F20
<PAGE>

8.   COMMITMENTS,  CONTINGENCIES  AND  OTHER  MATTERS
     Prague,  Czech  Republic  -  In  March  1998,  the  Company entered into
     a joint venture  agreement  with  B.  H. Centrum a.s. ("BHC"), a Czech
     subsidiary of Bau Holding AG, one of the largest construction and
     development companies in Europe, to  form  Century  Casinos Praha a.s.
     The Company was to hold a 49% interest in the  venture,  which  would
     operate a casino in the five-star Marriott Hotel in Prague, Czech
     Republic.  Subsequent to signing the joint venture agreement, laws
     governing  casino  licenses  in  the  Czech  Republic were amended to
     preclude a foreign  entity from holding an equity interest in a casino
     license.  In January 1999,  the  Company  entered  into  a  20-year
     definitive agreement with Casino Millennium  a.s.,  a  Czech company that
     has secured the leasing rights from the hotel,  to  provide  casino
     management services for ten percent of the casino's gross  revenue,
     and to provide and lease to the casino certain gaming equipment
     for  45%  of  the  casino's  net profit.  During 1999, the Company
     purchased and leased  to  Casino  Millennium  a.s.  gaming  equipment
     with  a  total  cost of approximately  $1.3  million.  In addition, the
     Company advanced operating funds to  the  casino  of  approximately  $208.
     In  July 1999, Casino Millennium a.s. commenced operations of its casino.
     During the years ended December 31, 2000 and 1999, the Company  earned
     management fee  income  from  Casino Millennium totaling $177 and $109
     respectively.  Casino Millennium recognized no earnings in the years ended
     December 31, 2000 and 1999.  Accordingly, no lease income  was  earned by
     the Company.  At December 31, 2000, receivables  in  the  accompanying
     consolidated  balance  sheet include $421 relating  to advances  and
     management  fees.

     Subsequent to the formation of Casino Millennium a.s., the Czech laws were
     again amended to permit the Czech Republic's Ministry of Finance to make
     exceptions to the  foreign ownership restriction, thereby allowing a
     foreign entity to hold an equity  interest in a casino license.
     Accordingly, in January 2000, the Company entered  into  a memorandum of
     agreement with BHC to continue the casino project on  a  joint
     venture basis with each party having a 50% equity interest.  It is
     anticipated  that  this  will  be  accomplished  by the formation of a new
     joint venture or by the joint acquisition of Casino Millennium a.s. by the
     Company and BHC.  The  current  shareholders of Casino Millennium a.s.
     have consented to the sale  of  their  respective  equity  interests or
     the sale of its net assets and liabilities.  It is the intention of the
     Company and BHC to enter into new lease and  management  agreements under
     the same terms and conditions described above. It  is  also
     expected  that  the Company and BHC will contribute certain casino
     equipment  and  improvements  currently  being  leased  to Casino
     Millennium and equalize  their  respective  contributions  to  the
     joint  venture, taking into consideration  previously  advanced  operating
     funds.  In addition to the assets which  would  be  contributed,  the
     Company  expects that the cash contribution required to equalize the
     transaction will not exceed $300.  Any funding required by the Company
     to consummate this transaction would be met through a combination
     of  existing liquidity and anticipated cash flow.  The Company is in
     the process of  negotiating  a  definitive purchase agreement.
     As of December 31, 2000, the Company's  net  fixed  assets  leased
     under  operating  leases  to  the  Casino Millennium  approximated  $1.0
     million.

                                      F21
<PAGE>
     South  Africa-Caledon  - On April 13, 2000, the Caledon Casino Bid
     Company (Pty) Limited  ("CCBC")  was awarded a gaming license for a casino
     at a 92-room resort hotel  and spa in Caledon, province of the Western
     Cape, South Africa.  On April 17,  2000,  the Company's South African
     subsidiary, Century Casinos Africa (Pty) Ltd  ("CCA"),  acquired  a  50%
     equity  interest  in  CCBC.  In  March 2000, in anticipation  of  the
     award  of  the  final  license,  the  Company  borrowed
     approximately  $4.0  million  under  its revolving credit facility and,
     in April 2000,  the  Company  (through  CCA)  made its equity investment
     of approximately $1,534  in  and  a  loan  of  approximately  $2,302  to
     CCBC.  In  a concurrent transaction,  another  50% investor contributed
     fixed assets to CCBC in exchange for  a  50%  equity  investment  of
     approximately  $1,534 and a loan payable of approximately  $2,302.
     The acquisition of CCBC by the Company has been recorded using  the
     purchase  method of accounting.  On November 4, 2000 CCA acquired an
     additional 15% equity interest in the ordinary shares of CCBC.   In
     exchange for $1.8  million borrowed under its revolving credit facility,
     the Company, through CCA, acquired 600 ordinary shares and claim to an
     additional 15% of the total outstanding  shareholder  loans, which as of
     December 31, 2000 were $3,965, from the other 50% investor.  The
     acquisition of the additional 15% interest has been recorded
     using the purchase method of accounting.  As of December 31, 2000, net
     long-lived assets held by CCBC, included in the Company's condensed
     consolidated balance  sheet,  approximated  $11.5  million.  Pro forma
     financial information presenting the results of operations as if the
     acquisition of CCBC had been consummated as of the beginning of the year
     ended December 31, 2000 have not been included because they were not
     material to the Company's consolidated results of operations.

     In  December  1999,  the  Company  entered  into  a  ten-year  casino
     management agreement with CCBC, which agreement may be extended at the
     Company's option for multiple ten-year periods.  The Company will receive
     a management fee consisting of  the  following:  (i)  an  amount equal to
     3% (increasing to 4% and 5% in the second  fiscal  year  of  operations,
     variable  based on levels of annual gross revenues) of annual gross
     revenues, as defined, and (ii) an amount equal to 7.5% of  the
     casino's  annual  earnings before interest, income taxes, depreciation,
     amortization  and  certain  other  costs.  The casino opened on October
     11, 2000 with  250 slot machines and 14 gaming tables. In addition to the
     casino license, hotel  and  spa, CCBC owns approximately 600 acres of
     land, which is expected to be  used  for  future  expansion  of  the
     project.

     Initial start up costs of the casino, resort hotel and spa have resulted in
     a  pre-tax  charge  of  $652  against the income for the year ended
     December 31, 2000.

     South  Africa-Gauteng  -Legislation enacted in 1996 in South Africa
     provides for the  award  of  up  to  40  casino licenses throughout the
     country. To date, the Company  has  entered  into  agreements  with
     various local consortia to provide consulting  services  during the
     application phase, as well as casino management services  should
     the  Company's  partners  be  awarded  one  or  more licenses.

     Under  South African gaming legislation passed in 1996, six casino licenses
     were  allocated  to  the  province  of  Gauteng  -  primarily  for  the
     Greater Johannesburg  area.  Silverstar  Development Ltd., a consortium
     owned by trusts, corporations  and individuals from the province, chose
     Century Casinos as equity and  management partner for its proposed 1,000
     gaming position casino, hotel and entertainment  resort  in  the  West
     Rand  region  (western  portion of greater Johannesburg). Since joining
     forces more than four years ago, Century has helped Silverstar  work
     through  a  series of legal issues regarding the award of this
     gaming  license  -  culminating  in  March 2000 with Silverstar entering
     into an agreement  with  the competing license applicant. This agreement
     has settled all past claims and has brought both parties together in an
     effort to jointly secure the  sixth  and  final gaming license in the
     province. In a process entered into with  the Gauteng Gambling Board for
     their consideration of the amended proposal for  a  casino  license,  the
     parties  jointly  filed  the  requisite amendment application.
     There  can  be no certainty regarding the award of this license or
     that  this  license  will  ultimately be awarded to the consortium
     Silverstar is part  of.


                                      F22
<PAGE>

     Riverboat  Development  Agreement-Indiana  - In September 1998, the Indiana
     Gaming  Commission  awarded  a  Certificate  of  Suitability  to Pinnacle
     Gaming Development  Corporation ("Pinnacle") to conduct riverboat gaming
     in Switzerland County.  In  accordance  with the terms of the sale of the
     Company's interest in Pinnacle  in 1995, the Company received payments of
     $1,380 in 2000 and $1,040 in 1999,  which  are  included  in  "other
     expense,  net"  in  the  accompanying consolidated  statements of earnings.
     The  Company  was  entitled  to  receive installment payments of $32 per
     month for the first 60 months of the riverboat's operation;  however,
     subsequent  to  1999,  the  Company  elected to receive an
     aggregate discounted payment amount of $1,380, which was received and
     recognized as  "other  expense,  net"  in  2000,  as  discussed  above.

     Consulting  Agreement-Rhodes,  Greece  -  In  1998,  the  Company reached a
     consulting  agreement  (the  "current  agreement")  with  Rhodes Casino
     S.A. and Playboy Gaming International Ltd. ("Playboy") to assign certain
     of the Company's rights  and delegate its responsibilities under a
     previously executed management and  consulting agreement (the
     "previous agreement") pertaining to the operation of  a  casino  on
     the island of Rhodes, Greece.   In 1998, the Company received
     from Playboy a payment of $25 for certain preopening services performed to
     date.  The  Company  also  received  payments  totaling  $50 in 1999 and
     2000 and is to receive  a  final  annual  payment  of  $50 in 2001.
     The Company will have no further  obligations  under  the  previous
     agreement  unless, subsequent to the opening  of  the  casino,  Playboy
     is  unwilling or unable to perform under the current  agreement.  In
     such  event,  the previous agreement, and the Company's obligations,
     would be reinstated together with the Company's right to receive up
     to  $300  per  year  for  the  first  three  years of casino operations,
     with an aggregate  minimum  guarantee  of  approximately  $250.

     Agreement with Former Officer/Director - In October 1999, in connection
     with the termination  of  an  officer/director's  employment,  the Company
     entered into a noncompetition  agreement  with  the former officer/director
     with a term through March  31,  2001  for  consideration of twelve monthly
     payments of $14 beginning January  2000.  The  area  covered  by the
     noncompetition agreement includes any geographical  area in which the
     Company is present.  The agreement also provides for  limited
     consulting services to be performed by the former officer/director
     during 2000.  In March  2000, in accordance with paragraph II.A.5. of
     the Waiver and  Release  and Consulting Agreement, the Company made a
     discounted payment to the  former  officer/director  and  terminated  the
     consulting  portion  of the agreement.  All other provisions of the
     noncompetition agreement remain in effect.  The  accompanying  financial
     statements  include  noncompetition  amortization expense  of  $137
     in  2000  and  $28  in  1999  relating  to  this  agreement.

     Employee  Benefit  Plan  - In March 1998, the Company adopted the 401(k)
     Savings and  Retirement  Plan  (the "Plan").  The Plan allows eligible
     employees to make tax-deferred  contributions  that  are  matched by the
     Company up to a specified level.  The  Company  contributed  $26  and
     $24  to  the Plan in 2000 and 1999, respectively.

     Operating Lease Commitments - The Company has entered into certain
     noncancelable operating  leases  for  real  property  and  equipment.
     As of December 31, 2000, future  minimum lease payments under existing
     lease agreements are $344 in 2001, $329  in  2002,  $286  in  2003,
     $282 in 2004, $170 in 2005 and $398 thereafter.  Rental  expense  was
     $505  in  2000  and  $574  in  1999.

     Stock  Redemption  Requirement  -  Colorado  gaming regulations require the
     disqualification  of  any  shareholder  who  may  be  determined by the
     Colorado Division  of Gaming to be unsuitable as an owner of a Colorado
     casino.  Unless a sale  of such common stock to an acceptable party could
     be arranged, the Company would  repurchase  the  common  stock  of any
     shareholder found to be unsuitable under  the  regulations.  The  Company
     could  effect  the repurchase with cash, Redemption  Securities,  as such
     term is defined in the Company's Certificate of Incorporation  and
     having terms and conditions as shall be approved by the Board of
     Directors,  or  a  combination  thereof.


                                      F23
<PAGE>

9.   INCOME  TAXES
<TABLE>
<CAPTION>


The provision for income taxes consists of the following:
                                                            2000     1999
                                                           -------  -------
<S>                                                        <C>      <C>
Current:

 Federal                                                   $2,261   $1,593
 State                                                        341      252
 Foreign                                                      386        -
                                                           -------  -------
                                                            2,988    1,845
                                                           -------  -------

Deferred:
 Federal                                                     (219)     (90)
 State                                                        (34)      (9)
 Foreign                                                     (193)       -
                                                           -------  -------
                                                             (446)     (99)
                                                           -------  -------
                                                           $2,542   $1,746
                                                           =======  =======
</TABLE>
The  provision  for  income taxes differs from the expected amount of income tax
calculated  by  applying  the statutory rate to pretax income as follows:
<TABLE>
<CAPTION>


                                                         2000     1999
                                                        -------  -------
<S>                                                     <C>      <C>

Expected income tax provision at statutory rate of 34%  $1,990   $1,349


Increase (decrease) due to:
 Goodwill amortization                                     252      252
 Effect of foreign operations taxed at different rates     (18)      (4)
 State income taxes, net of federal benefit                201      155
 Other, net                                                117       (6)
                                                        -------  -------
Provision for income taxes                              $2,542   $1,746
                                                        =======  =======
</TABLE>

Deferred  income  taxes  reflect  the  net  tax effects of temporary differences
between  the  carrying amounts of assets and liabilities for financial reporting
purposes  and  the amounts used for income tax purposes. Deferred tax assets and
liabilities  at  December  31,  2000,  consist  of  the  following:

Deferred  tax  assets:
 Property and equipment - noncurrent                            $    623
 Accrued liabilities and other - current                           1,010
                                                                --------
                                                                   1,633

Deferred  tax  liabilities:
 Prepaid expenses - current                                        (615)
                                                                --------
 Net deferred tax assets                                        $  1,018
                                                                ========
Net  deferred  tax  assets  of  $395  and  $623  are  classified  as current and
noncurrent,  respectively,  and  included  in  other  assets in the accompanying
consolidated  balance  sheet  as  of  December  31,  2000.  CCBC, a 65% owned
subsidiary of the Company's South African subsidiary, has approximately $2,700
in net operating loss carryforwards as of December 31, 2000, which carry no
expiration date.

                                      F24
<PAGE>
<TABLE>
<CAPTION>



10.  OTHER EXPENSE, NET
    Other expense, net, consists of the following:
<S>                                             <C>       <C>
                                                   2000      1999
                                                --------  --------

Interest income                                 $   145   $    43
Interest expense                                (1,529)    (1,000)
Income from sale of casino project rights         1,380     1,040
Foreign exchange losses                             (1)         -
Amortization of deferred financing costs           (88)      (127)
Gain (loss) on disposal of equipment                 80       (10)
Other                                               (7)         -
                                                --------  --------
                                                $   (20)  $   (54)
                                                ========  ========
</TABLE>
11.  EARNINGS  PER  SHARE
     Basic  and  diluted earnings per share for the years ended
     December 31, 2000 and 1999 were computed as follows:
<TABLE>
<CAPTION>


                                                                    2000         1999
                                                                 -----------  -----------
<S>                                                              <C>          <C>

Basic Earnings Per Share:
 Net earnings                                                    $     3,253  $     2,221
                                                                 ===========  ===========
 Weighted average common shares                                   14,240,990   14,631,719
                                                                 ===========  ===========
 Basic earnings per share                                        $      0.23  $      0.15
                                                                 ===========  ===========

Diluted Earnings Per Share:
 Net earnings, as reported                                       $     3,253  $     2,221
 Interest expense, net of income taxes, on convertible debenture          28           33
                                                                 -----------  -----------
 Net earnings available to common shareholders                   $     3,281  $     2,254
                                                                 ===========  ===========

Weighted average common shares                                    14,240,990   14,631,719
 Effect of dilutive securities:

  Convertible debenture                                              227,489      271,739
  Stock options and warrants                                         567,362      216,430
                                                                 -----------  -----------
Dilutive potential common shares                                  15,035,841   15,119,888
                                                                 ===========  ===========
Diluted earnings per shares                                      $      0.22  $      0.15
                                                                 ===========  ===========

Excluded from computation of diluted earnings per share
 due to antidilutive effect:
  Options and warrants to purchase common shares                      205,000    4,616,566
  Weighted average exercise price                                 $      2.19  $      1.94
</TABLE>
                                      F25
<PAGE>
12.  UNAUDITED  SUMMARIZED  QUARTERLY  DATA
     Summarized  quarterly  financial  data  for  2000  and  1999  is
     as  follows: (Dollar amounts in thousands, except per share data)
<TABLE>
<CAPTION>



<S>                                   <C>             <C>           <C>           <C>
                                       1st Quarter(1)  2nd Quarter   3rd Quarter     4th Quarter(2)

Year ended December 31, 2000
Net operating revenue                 $      5,834    $      6,212  $      7,190    $      9,773
Earnings from operations              $        603    $      1,052  $      1,554    $      2,664
Net earnings                          $        979    $        396  $        830    $      1,048
Basic earnings per share              $       0.07    $       0.03  $       0.06    $       0.07
Diluted earnings per share            $       0.07    $       0.03  $       0.06    $       0.06
</TABLE>



( 1) During the 1st quarter of 2000, the Company received $1,380 from the sale
     of its riverboat gambling license in Indiana.  This was offset by charges
     of $302  related to the write-off of a noncompete agreement with a former
     officer / director  and  bonuses  paid  to  certain  officers / directors
     related  to  the  final  payment  received  on  the sale of the Company's
     riverboat gambling license in Indiana.
( 2) The Caledon Casino opened for business on  October 11, 2000.   During the
     4th  quarter  of 2000,  net operating revenue for the casino was  $3,536.
     Consolidated   net   earnings,   after   eliminating   all   intercompany
     transactions, for CCA,  the Company's South African subsidiary,  of which
     the Caledon Casino is a part, was $748 for the 4th quarter of 2000.
<TABLE>
<CAPTION>


<S>                                   <C>             <C>           <C>           <C>
                                       1st Quarter     2nd Quarter   3rd Quarter(1)  4th Quarter
Year ended December 31, 1999
Net operating revenue                 $      5,193    $      5,552  $      6,704    $      6,135
Earnings from operations              $        644    $        821  $      1,770    $        786
Net earnings                          $        190    $        271  $      1,456    $        304
Basic and diluted earnings per share  $       0.01    $       0.02  $       0.10    $       0.02
</TABLE>

( 1) During the 3rd  quarter of 1999, the Company received $1,040 from the sale
     of its riverboat gambling license in Indiana.

                                      F26
<PAGE>