|   |  **UNITED                STATES**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|   | **SECURITIES                AND EXCHANGE COMMISSION**                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |
|   | **Washington,                D.C. 20549**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |
|   | **Form                10-Q**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |   |   |
|   |  ___X___                QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES                EXCHANGE ACT OF 1934                                                                                                                                                                                                                                                                                                                                                                                           |   |
|   | For                the quarterly period ended September 30, 2006                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |
|   | OR                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |
|   | _______                TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES                EXCHANGE ACT OF 1934                                                                                                                                                                                                                                                                                                                                                                                                     |   |
|   | For                the transition period from ____________ to ___________                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |
|   | Commission                file number                  0-22290                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |
|   | CENTURY                CASINOS, INC.(Exact                name of registrant as specified in its charter)                                                                                                                                                                                                                                                                                                                                                                                                                      |   |
|   | DELAWARE(State                or other jurisdiction of incorporation or organization)                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | 84-1271317(I.R.S.                Employer Identification No.)  |   |
|   | 1263                Lake Plaza Drive Suite A, Colorado Springs, Colorado                80906(Address                of principal executive offices)(Zip                Code)                                                                                                                                                                                                                                                                                                                                                  |   |
|   | (719)                527-8300(Registrant’s                telephone number, including area code)                                                                                                                                                                                                                                                                                                                                                                                                                         |   |
|   |     Indicate                by                check mark whether the registrant (1) has filed all reports required                to be                filed by Section 13 or 15(d) of the Securities Exchange Act of 1934                during                the preceding 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 ___   |   |
|   |     Indicate                by                check mark whether the registrant is a large accelerated filer, an                accelerated filer, or a non-accelerated filer. See definition of                “accelerated filer and large accelerated filer” in Rule 12b-2 of the                Exchange Act.        Large                accelerated filer __ Accelerated filer _X_ Non-accelerated filer                __                       |   |
|   |     Indicate                by                check mark whether the registrant is a shell company (as defined                in Rule                12b-2 of the Exchange Act). Yes___ No _X_                                                                                                                                                                                                                                                                                                             |   |
|   |     Indicate                the                number of shares outstanding of each of the issuer’s classes of common                stock, as of the latest practical date.                                                                                                                                                                                                                                                                                                                         |   |
|   |     Common                stock, $0.01 par value, 22,980,567 shares outstanding as of                November                9,                2006                                                                                                                                                                                                                                                                                                                                                             |   |

----

**CENTURY      CASINOS, INC. **

**FORM      10-Q INDEX**

|                    |   |                                                                                                                                                                     | Page   |
|-------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| PART                I   |   | FINANCIAL                INFORMATION                                                                                                                                     | Number |
|                    |   |                                                                                                                                                                     |   |
| Item                1.  |   | Condensed                Consolidated Financial Statements (unaudited)                                                                                                   |   |
|                    |   | Condensed                Consolidated Balance Sheets as of September                30, 2006 and December 31, 2005                                                       | 3      |
|                    |   | Condensed                Consolidated Statements of Earnings for the Three and Nine Months                Ended                September 30, 2006 and 2005               | 4      |
|                    |   | Condensed                Consolidated Statements of Comprehensive Earnings for the Three and                Nine                Months Ended September 30, 2006 and 2005 | 5      |
|                    |   | Condensed                Consolidated Statements of Cash Flows for the Nine Months Ended September                30, 2006 and 2005                                      | 6      |
|                    |   | Notes                to Condensed Consolidated Financial Statements                                                                                                      | 8      |
| Item                2.  |   | Management’s                Discussion and Analysis of Financial Condition and Results of                Operations                                                | 22     |
| Item                3.  |   | Quantitative                and Qualitative Disclosures About Market Risk                                                                                                | 45     |
| Item                4.  |   | Controls                and Procedures                                                                                                                                   | 45     |
|                    |   |                                                                                                                                                                     |   |
| PART                II  |   | OTHER                INFORMATION                                                                                                                                         |   |
|                    |   |                                                                                                                                                                     |   |
| Item                1.  |   | Legal                Proceedings                                                                                                                                         | 46     |
| Item                1A. |   | Risk                Factors                                                                                                                                              | 46     |
| Item                6.  |   | Exhibits                                                                                                                                                                 | 46     |
|                    |   | SIGNATURES                                                                                                                                                               | 47     |

----

**CENTURY      CASINOS, INC. AND SUBSIDIARIES**

**CONDENSED      CONSOLIDATED BALANCE SHEETS (Unaudited)**

| *Amounts                in thousands, except for share information* | **September                30, 2006** |    | **December                31, 2005** |
|---------------------------------------------------------------------|---------------------------------------|---------|--------------------------------------|
| **ASSETS**                                                          |                                  |    |                                 |   |   |
| **Current                Assets:**                                  |                                  |    |                                 |   |   |
| Cash                and cash equivalents                            | $                                     | 32,013  |                                 | $ | 37,167 |
| Restricted                cash                                      |                                  | 1,916   |                                 |   | 947 |
| Receivables,                net                                     |                                  | 672     |                                 |   | 293 |
| Prepaid                expenses                                     |                                  | 922     |                                 |   | 518 |
| Inventories                                                         |                                  | 305     |                                 |   | 209 |
| Other                current assets                                 |                                  | 706     |                                 |   | 927 |
| Deferred                income taxes - foreign                      |                                  | 214     |                                 |   | 72 |
| Total                current assets                                 |                                  | 36,748  |                                 |   | 40,133 |
|                                                                |                                  |    |                                 |   |   |
| **Property                and Equipment, net**                      |                                  | 114,306 |                                 |   | 69,602 |
| **Goodwill**                                                        |                                  | 18,295  |                                 |   | 8,662 |
| **Casino                Licences**                                  |                                  | 2,059   |                                 |   | 1,845 |
| **Deferred                Income Taxes - foreign**                  |                                  | 456     |                                 |   | 380 |
| **Note                Receivable (see Note 1)**                     |                                  | 4,790   |                                 |   | - |
| **Other                Assets**                                     |                                  | 2,955   |                                 |   | 2,941 |
| **Total**                                                           | $                                     | 179,609 |                                 | $ | 123,563 |

| **LIABILITIES                AND SHAREHOLDERS’ EQUITY**                                                                                                                                                                                                      |   |    |   |   |    |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------|--------|--------|---------|
| **Current                Liabilities:**                                                                                                                                                                                                                            |   |    |   |   |    |
| Current                portion of long-term debt                                                                                                                                                                                                                   | $      | 6,037   |   | $      | 1,789   |
| Accounts                payable and accrued liabilities                                                                                                                                                                                                            |   | 9,212   |   |   | 5,504   |
| Accrued                payroll                                                                                                                                                                                                                                     |   | 1,667   |   |   | 1,149   |
| Taxes                payable                                                                                                                                                                                                                                       |   | 1,002   |   |   | 1,189   |
| Other                                                                                                                                                                                                                                                              |   | 19      |   |   | 8       |
| Total                current liabilities                                                                                                                                                                                                                           |   | 17,937  |   |   | 9,639   |
|                                                                                                                                                                                                                                                               |   |    |   |   |    |
| **Long-Term                Debt, less current portion**                                                                                                                                                                                                            |   | 55,620  |   |   | 17,934  |
| **Deferred                Income - Sale of Gauteng Interest (see Note 1)**                                                                                                                                                                                         |   | 5,399   |   |   | -       |
| **Deferred                Tax Liability - Domestic**                                                                                                                                                                                                               |   | 99      |   |   | 215     |
| **Minority                Interest**                                                                                                                                                                                                                               |   | 5,563   |   |   | 4,444   |
|                                                                                                                                                                                                                                                               |   |    |   |   |    |
| **Commitments                and Contingencies**                                                                                                                                                                                                                   |   |    |   |   |    |
|                                                                                                                                                                                                                                                               |   |    |   |   |    |
| **Shareholders’                Equity:**                                                                                                                                                                                                                     |   |    |   |   |    |
|                                                                                                                                                                                                                                                               |   |    |   |   |    |
| Preferred                    stock; $.01 par value; 20,000,000 shares authorized; no shares                    issued or                    outstanding                                                                                                            |   | -       |   |   | -       |
| Common                  stock; $.01 par value; 50,000,000 shares authorized; 23,168,443                  and                  22,568,443 shares issued, respectively; 22,980,567                  and 22,380,567 shares outstanding,                  respectively |   | 232     |   |   | 226     |
| Additional                paid-in capital                                                                                                                                                                                                                          |   | 69,667  |   |   | 68,571  |
| Accumulated                other comprehensive earnings                                                                                                                                                                                                            |   | 329     |   |   | 2,568   |
| Retained                earnings                                                                                                                                                                                                                                   |   | 25,188  |   |   | 20,391  |
|                                                                                                                                                                                                                                                               |   | 95,416  |   |   | 91,756  |
| Treasury                stock - 187,876 shares at cost                                                                                                                                                                                                             |   | (425)   |   |   | (425)   |
| Total                shareholders’ equity                                                                                                                                                                                                                    |   | 94,991  |   |   | 91,331  |
| **Total**                                                                                                                                                                                                                                                          | $      | 179,609 |   | $      | 123,563 |

----

**CENTURY      CASINOS, INC. AND SUBSIDIARIES**

**CONDENSED      CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited)**

|                                                                                       |   | **For                The Three Months****Ended                September 30,** |   | **For                The Nine Months****Ended                September 30,** |
|--------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------|
| *Amounts                in thousands, except for share information*                        |   | **2006**                                                                      |   | **2005**                                                                     |   | **2006** |   | **2005** |
| **Operating                Revenue:**                                                      |   |                                                                          |   |                                                                         |   |   |   |   |
| Casino                                                                                     | $      | 16,261                                                                        | $      | 9,784                                                                        | $ | 36,667 | $ | 27,572 |
| Hotel,                food and beverage                                                    |   | 1,627                                                                         |   | 1,242                                                                        |   | 3,981 |   | 3,411 |
| Other                                                                                      |   | 298                                                                           |   | 186                                                                          |   | 758 |   | 557 |
|                                                                                       |   | 18,186                                                                        |   | 11,212                                                                       |   | 41,406 |   | 31,540 |
| Less                promotional allowances                                                 |   | 1,208                                                                         |   | 1,182                                                                        |   | 3,093 |   | 3,374 |
| Net                operating revenue                                                       |   | 16,978                                                                        |   | 10,030                                                                       |   | 38,313 |   | 28,166 |
|                                                                                       |   |                                                                          |   |                                                                         |   |   |   |   |
| **Operating                Costs and Expenses:**                                           |   |                                                                          |   |                                                                         |   |   |   |   |
| Casino                                                                                     |   | 6,922                                                                         |   | 3,749                                                                        |   | 15,005 |   | 10,751 |
| Hotel,                food and beverage                                                    |   | 1,399                                                                         |   | 729                                                                          |   | 2,800 |   | 2,084 |
| General                and administrative                                                  |   | 5,118                                                                         |   | 2,760                                                                        |   | 12,667 |   | 8,235 |
| Property                write-downs and other write-offs, net                of recoveries |   | (420)                                                                         |   | -                                                                            |   | (405) |   | (30) |
| Depreciation                and amortization                                               |   | 1,293                                                                         |   | 847                                                                          |   | 2,998 |   | 2,637 |
|                                                                                       |   |                                                                          |   |                                                                         |   |   |   |   |
| Total                operating costs and expenses                                          |   | 14,312                                                                        |   | 8,085                                                                        |   | 33,065 |   | 23,677 |
|                                                                                       |   |                                                                          |   |                                                                         |   |   |   |   |
| **Loss                from unconsolidated subsidiary**                                     |   | -                                                                             |   | -                                                                            |   | - |   | (109) |
| **Earnings                from Operations**                                                |   | 2,666                                                                         |   | 1,945                                                                        |   | 5,248 |   | 4,380 |
| **Non-Operating                Income (Expense):**                                         |   |                                                                          |   |                                                                         |   |   |   |   |
| Interest                income                                                             |   | 156                                                                           |   | 34                                                                           |   | 595 |   | 122 |
| Interest                expense                                                            |   | (1,320)                                                                       |   | (652)                                                                        |   | (1,777) |   | (1,620) |
| Other                (expense) income, net                                                 |   | (19)                                                                          |   | (3)                                                                          |   | 300 |   | 2 |
| Non-operating                items from unconsolidated subsidiary                          |   | -                                                                             |   | -                                                                            |   | - |   | (4) |
| Non-operating                (expense), net** **                                      |   | (1,183)                                                                       |   | (621)                                                                        |   | (882) |   | (1,500) |
| **Earnings                before Income Taxes and Minority Interest**                      |   | 1,483                                                                         |   | 1,324                                                                        |   | 4,366 |   | 2,880 |
| (Benefit)                Provision for income taxes                                        |   | (67)                                                                          |   | 492                                                                          |   | 394 |   | 638 |
| **Earnings                before Minority Interest**                                       |   | 1,550                                                                         |   | 832                                                                          |   | 3,972 |   | 2,242 |
| Minority                interest in subsidiary losses                                      |   | 301                                                                           |   | 449                                                                          |   | 900 |   | 555 |
| **Net                Earnings**                                                            | $      | 1,851                                                                         | $      | 1,281                                                                        | $ | 4,872 | $ | 2,797 |
|                                                                                       |   |                                                                          |   |                                                                         |   |   |   |   |
| **Earnings                Per Share:**                                                     |   |                                                                          |   |                                                                         |   |   |   |   |
| Basic                                                                                      | $      | 0.08                                                                          | $      | 0.09                                                                         | $ | 0.21 | $ | 0.20 |
| Diluted                                                                                    | $      | 0.08                                                                          | $      | 0.08                                                                         | $ | 0.20 | $ | 0.17 |

----

**CENTURY      CASINOS, INC. AND SUBSIDIARIES**

**CONDENSED      CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (Unaudited)**

|                                                                                                                                 |   | **For                The Three Months****Ended                September 30,** |   | **For                The Nine Months****Ended                September 30,** |
|--------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------|
|                                                                                                                                 |   |                                                                          |   |                                                                         |   |   |   |   |
| *Amounts                in thousands*                                                                                                |   | **2006**                                                                      |   | **2005**                                                                     |   | **2006** |   | **2005** |
|                                                                                                                                 |   |                                                                          |   |                                                                         |   |   |   |   |
| **Net                Earnings**                                                                                                      | $      | 1,851                                                                         | $      | 1,281                                                                        | $ | 4,872 | $ | 2,797 |
| Foreign                currency translation adjustments                                                                              |   | (1,830)                                                                       |   | 1,087                                                                        |   | (2,239) |   | (1,853) |
| Change                in fair value of interest rate swaps,    net                of                income taxes |   | -                                                                             |   | 31                                                                           |   | - |   | 64 |
| **Comprehensive****Earnings**                                                                                                        | $      | 21                                                                            | $      | 2,399                                                                        | $ | 2,633 | $ | 1,008 |

----

**CENTURY      CASINOS, INC. AND SUBSIDIARIES**

**CONDENSED      CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)**

|                                                                                                                                                  |   | **For                The Nine Months****Ended                September 30,** |
|-------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------|
|                                                                                                                                                  |   |                                                                         |   |   |
| *Amounts                in thousands*                                                                                                                 |   | **2006**                                                                     |   | **2005** |
|                                                                                                                                                  |   |                                                                         |   |   |
| **Cash                Flows from Operating Activities:**                                                                                              |   |                                                                         |   |   |
| Net                earnings                                                                                                                           | $      | 4,872                                                                        | $ | 2,797 |
|                                                                                                                                                  |   |                                                                         |   |   |
| Adjustments                to reconcile net earnings to net cash provided by operating                activities:                                     |   |                                                                         |   |   |
| Depreciation                and amortization                                                                                                          |   | 2,998                                                                        |   | 2,637 |
| Amortization                of share-based compensation                                                                                               |   | 280                                                                          |   | - |
| Amortization                of deferred financing costs                                                                                               |   | 104                                                                          |   | 128 |
| Deferred                tax expense                                                                                                                   |   | (410)                                                                        |   | (806) |
| Minority                interest in subsidiary losses                                                                                                 |   | (900)                                                                        |   | (555) |
| Loss                from unconsolidated subsidiary                                                                                                    |   | -                                                                            |   | 113 |
| Loss                (gain) on sale of fixed assets                                                                                                    |   | 26                                                                           |   | (55) |
| Other                                                                                                                                                 |   | (15)                                                                         |   | - |
|                                                                                                                                                  |   |                                                                         |   |   |
| Changes                in operating assets and liabilities:                                                                                           |   |                                                                         |   |   |
| Receivables                                                                                                                                           |   | (392)                                                                        |   | (154) |
| Prepaid                expenses and other assets                                                                                                      |   | (5)                                                                          |   | (486) |
| Accounts                payable and accrued liabilities                                                                                               |   | (820)                                                                        |   | 1,405 |
| Accrued                payroll                                                                                                                        |   | 427                                                                          |   | (177) |
| Excess                tax benefits from stock-based payment arrangements                                                                              |   | (376)                                                                        |   | - |
| Taxes                payable                                                                                                                          |   | (271)                                                                        |   | 258 |
|                                                                                                                                                  |   |                                                                         |   |   |
| Net                cash provided by operating activities                                                                                              |   | 5,518                                                                        |   | 5,105 |
|                                                                                                                                                  |   |                                                                         |   |   |
|                                                                                                                                                  |   |                                                                         |   |   |
| **Cash                Flows from Investing Activities:**                                                                                              |   |                                                                         |   |   |
| Purchases                of property and equipment                                                                                                    |   | (41,943)                                                                     |   | (10,655) |
| Purchase                of minority shareholder interest in subsidiary                                                                                |   | (5,135)                                                                      |   | - |
| Note                receivable (see Note 1)                                                                                                           |   | (4,751)                                                                      |   | - |
| Deferred                income - Sale of Gauteng interest (see Note 1)                                                                                |   | 5,399                                                                        |   | - |
| Cash                contribution of $2.4 million towards interest in subsidiary,                less                net cash acquired of $1.7 million |   | -                                                                            |   | (753) |
| Cash                contribution of $0.7 million towards interest in Casino                Millennium,less net cash acquired of $0.4 million          |   | (278)                                                                        |   | - |
| Cash                contribution of $6.7 million towards interest in Newcastle,less net                cash acquired of $1.5 million                  |   | (5,122)                                                                      |   | - |
| Proceeds                from disposition of assets                                                                                                    |   | 88                                                                           |   | 101 |
|                                                                                                                                                  |   |                                                                         |   |   |
| Net                cash used in investing activities                                                                                                  |   | (51,742)                                                                     |   | (11,307) |

----

**CENTURY      CASINOS, INC. AND SUBSIDIARIES**

**CONDENSED      CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)**

|                                                                                  |   | **For                the Nine Months****Ended                September 30,** |
|---------------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------|
| *Amounts                in thousands*                                                 |   | **2006**                                                                     |   | **2005** |
| **Cash                Flows from Financing Activities:**                              |   |                                                                         |   |   |
| Proceeds                from borrowings                                               | $      | 64,898                                                                       | $ | 45,625 |
| Principal                repayments                                                   |   | (24,730)                                                                     |   | (32,067) |
| Excess                tax benefits from stock-based payment arrangements              |   | 376                                                                          |   | - |
| Deferred                financing charges                                             |   | (51)                                                                         |   | (455) |
| Decrease                in restricted cash                                            |   | -                                                                            |   | 604 |
| Proceeds                from exercise of options                                      |   | 450                                                                          |   | 2,313 |
| Dividend                paid to Caledon preference shareholder                        |   | (75)                                                                         |   | - |
|                                                                                  |   |                                                                         |   |   |
| Net                cash provided by financing activities                              |   | 40,868                                                                       |   | 16,020 |
|                                                                                  |   |                                                                         |   |   |
| **Effect                of Exchange Rate Changes on Cash**                            |   | 202                                                                          |   | (543) |
|                                                                                  |   |                                                                         |   |   |
| **(Decrease)                Increase****in                Cash and Cash Equivalents** |   | (5,154)                                                                      |   | 9,275 |
|                                                                                  |   |                                                                         |   |   |
| **Cash                and Cash Equivalents at Beginning of Period**                   |   | 37,167                                                                       |   | 8,411 |
|                                                                                  |   |                                                                         |   |   |
| **Cash                and Cash Equivalents at End of Period**                         | $      | 32,013                                                                       | $ | 17,686 |

**Supplemental      Disclosure of Cash Flow Information:**

| *Amounts                in Thousands* |   | **For                the Nine Months****Ended                September 30,** |
|---------------------------------------|--------|------------------------------------------------------------------------------|
|                                  |   | **2006**                                                                     |   | **2005** |
| Interest                paid          | $      | 2,631                                                                        | $ | 1,462 |
| Income                taxes paid      | $      | 662                                                                          | $ | 716 |

----

**CENTURY      CASINOS, INC. AND SUBSIDIARIES**

**NOTES      TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS      (Unaudited)**

**1.**
**DESCRIPTION      OF BUSINESS AND BASIS OF PRESENTATION**

----

**Projects      under Development:**

**Newcastle,      South Africa **

**Edmonton,      Alberta, Canada**

**Gauteng,      South Africa**

----

**Presentation      of Foreign Currency Amounts -**

|                                    | **September                30, 2006** | **December                31, 2005** | **September                30, 2005** |
|-----------------------------------------|---------------------------------------|--------------------------------------|---------------------------------------|
| Canadian                Dollars (CAD)   | 1.1153                                | 1.1659                               | 1.1611                                |
| Czech                Koruna (CZK)       | 22.3190                               | 24.5810                              | 24.5220                               |
| Euros                (€)          | 0.7882                                | 0.8446                               | 0.8292                                |
| Polish                Zloty (PLN)       | 3.1311                                | N/A                                  | N/A                                   |
| South                African Rand (ZAR) | 7.7451                                | 6.3399                               | 6.3518                                |

**2.**
**RECENTLY      ISSUED ACCOUNTING PRONOUNCEMENTS**

----

**3.**
**STOCK-BASED      COMPENSATION**

----

|                                                     |      |  Weighted-Average        |
|----------------------------------------------------------|-----------|-------------------------------|
|                                                     | Shares    | Exercise                Price |
|  Employee                Stock Options:             |      |                          |
| Outstanding                at January 1, 2006            | 1,986,210 | $                2.33         |
| Granted                                                  | -         | -                             |
| Exercised                                                | (600,000) | 0.75                          |
| Cancelled                or forfeited                    | (10,000)  | 7.68                          |
| Outstanding                at September 30, 2006         | 1,376,210 | $                2.98         |
| Options                exercisable at September 30, 2006 | 424,613   | $                2.83         |

|     |                                   | Weighted-                    |                              |   |                       |
|----------|-----------------------------------|------------------------------|-----------------------------------|--------|----------------------------|
|     | Number                            | Average                      | Number                            |        | Aggregate                  |
| Exercise | Outstanding                at     | Remaining                    | Exercisable                at     |   | Intrinsic                  |
| Price    | September                30, 2006 | Term                in Years | September                30, 2006 |   | Value                      |
|     |                              |                         |                              |   |                       |
| $0.75    | 10,000                            | 1.0                          | 10,000                            |   | $                91,900    |
| $1.50    | 7,500                             | 0.4                          | 7,500                             |   | $                63,300    |
| $1.75    | 10,000                            | 4.5                          | 10,000                            |   | $                81,900    |
| $2.93    | 1,323,710                         | 7.4                          | 397,113                           |   | $                9,279,207 |
| $7.68    | 25,000                            | 9.1                          | -                                 |   | $                56,500    |
|     | 1,376,210                         | 7.3                          | 424,613                           |   | $                9,572,807 |

----

| *Amounts                in thousands, except for share information*                                                                                                                                     | **For                the Three****Months                Ended****September                30, 2005** | **For                the Nine****Months                Ended****September                30, 2005** |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------|
| Net                earnings, as reported                                                                                                                                                                | $                                                                                                    | 1,281                                                                                               | $ | 2,796 |
| Deduct:                Total stock-based employee compensation expense determined under                fair                value based method for all awards, net of related tax                effects |                                                                                                 | 127                                                                                                 |   | 381 |
| Pro                forma net earnings                                                                                                                                                                   | $                                                                                                    | 1,154                                                                                               | $ | 2,415 |
|                                                                                                                                                                                                    |                                                                                                 |                                                                                                |   |   |   |
| Earnings                per share                                                                                                                                                                       |                                                                                                 |                                                                                                |   |   |
| Basic:                                                                                                                                                                                                  | As                reported                                                                           | $                                                                                                   | 0.09 | $ | 0.20 |
|                                                                                                                                                                                                    | Pro                forma                                                                             | $                                                                                                   | 0.08 | $ | 0.17 |
|                                                                                                                                                                                                    |                                                                                                 |                                                                                                |   |   |   |
| Diluted:                                                                                                                                                                                                | As                reported                                                                           | $                                                                                                   | 0.08 | $ | 0.17 |
|                                                                                                                                                                                                    | Pro                forma                                                                             | $                                                                                                   | 0.07 | $ | 0.15 |

----

**4.**
**INVESTMENT      IN NEWCASTLE**

|                                                                  |   | **For                The Three Months****Ended                September 30,** |   | **For                The Nine Months****Ended                September 30,** |
|-----------------------------------------------------------------------|--------|-------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------|
| *Amounts                in thousands, except for share information*   |   | **2006**                                                                      |   | **2005**                                                                     |   | **2006** |   | **2005** |
| **Net                Operating Revenue**                              | $      | 16,978                                                                        | $      | 11,946                                                                       | $ | 40,384 | $ | 33,668 |
|                                                                  |   |                                                                          |   |                                                                         |   |   |   |   |
| **Operating                Costs and Expenses:**                      |   |                                                                          |   |                                                                         |   |   |   |   |
| Operating                expenses                                     |   | 13,019                                                                        |   | 8,534                                                                        |   | 32,167 |   | 25,107 |
| Depreciation                and amortization                          |   | 1,293                                                                         |   | 959                                                                          |   | 3,116 |   | 3,042 |
|                                                                  |   |                                                                          |   |                                                                         |   |   |   |   |
| Total                operating costs and expenses                     |   | 14,312                                                                        |   | 9,493                                                                        |   | 35,283 |   | 28,149 |
|                                                                  |   |                                                                          |   |                                                                         |   |   |   |   |
| **Earnings                from Operations**                           |   | 2,666                                                                         |   | 2,453                                                                        |   | 5,101 |   | 5,519 |
| Other                (expense), net                                   |   | (1,183)                                                                       |   | (623)                                                                        |   | (849) |   | (1,469) |
| **Earnings                before Income Taxes and Minority Interest** |   | 1,483                                                                         |   | 1,830                                                                        |   | 4,252 |   | 4,050 |
| (Benefit)                provision for income taxes                   |   | (67)                                                                          |   | 604                                                                          |   | 338 |   | 881 |
| **Earnings                before Minority Interest**                  |   | 1,550                                                                         |   | 1,226                                                                        |   | 3,914 |   | 3,169 |
| Minority                interest in subsidiary losses                 |   | 301                                                                           |   | 326                                                                          |   | 962 |   | 288 |
| **Net                Earnings**                                       | $      | 1,851                                                                         | $      | 1,552                                                                        | $ | 4,876 | $ | 3,457 |
|                                                                  |   |                                                                          |   |                                                                         |   |   |   |   |
| **Earnings                Per Share:**                                |   |                                                                          |   |                                                                         |   |   |   |   |
| Basic                                                                 | $      | 0.08                                                                          | $      | 0.11                                                                         | $ | 0.21 | $ | 0.25 |
| Diluted                                                               | $      | 0.08                                                                          | $      | 0.09                                                                         | $ | 0.20 | $ | 0.21 |

**5.**
**PROPERTY      AND EQUIPMENT, NET**

| *Amounts                shown in thousands:*  |   | **September                30,** |   | **December                31,** |
|-----------------------------------------------|--------|----------------------------------|--------|---------------------------------|
|                                          |   | **2006**                         |   | **2005**                        |
| Buildings                and improvements     | $      | 52,628                           | $      | 28,828                          |
| Gaming                equipment               |   | 23,831                           |   | 13,976                          |
| Furniture                and office equipment |   | 8,453                            |   | 5,075                           |
| Other                equipment                |   | 4,270                            |   | 2,553                           |
|                                          |   |                             |   |                            |
|                                          |   | 89,182                           |   | 50,432                          |
| Less                accumulated depreciation  |   | (26,292)                         |   | (21,869)                        |
|                                          |   | 62,890                           |   | 28,563                          |
| Land                                          |   | 24,129                           |   | 22,432                          |
| Capital                projects in process    |   | 26,921                           |   | 18,218                          |
| Non-operating                casino and land  |   | 366                              |   | 389                             |
| Property                and equipment, net    | $      | 114,306                          | $      | 69,602                          |

----

**6.**
**GOODWILL**

| *Amounts                shown in thousands*                              |   | Cripple                Creek, CO | Caledon,                South Africa | Newcastle,                South Africa | Edmonton,                Canada | Casino                Millennium |   | Total      |
|--------------------------------------------------------------------------|--------|----------------------------------|--------------------------------------|----------------------------------------|---------------------------------|----------------------------------|--------|------------|
| **Balance                as of January 1, 2006**                         | **$**  | **7,232**                        | **902**                              | **-**                                  | **-**                           | **528**                          | **$**  | **8,662**  |
| Purchase                of remaining 43.6% interest in CRA               |   | -                                | -                                    | -                                      | 4,342                           | -                                |   | 4,342      |
| Purchase                of remaining 50.0% interest in Casino Millennium |   | -                                | -                                    | -                                      | -                               | (345)                            |   | (345)      |
| Purchase                of 60% interest in Newcastle                     |   | -                                | -                                    | 7,322                                  | -                               | -                                |   | 7,322      |
| Effect                of foreign currency translation                    |   | -                                | (164)                                | (1,563)                                | -                               | 41                               |   | (1,686)    |
| **Balance                as of September 30, 2006**                      | **$**  | **7,232**                        | **738**                              | **5,759**                              | **4,342**                       | **224**                          | **$**  | **18,295** |

**7.**
**LONG-TERM      DEBT**

| *Amounts                shown in thousands:*             |   | **September                30,** |   | **December                31,** |
|----------------------------------------------------------|--------|----------------------------------|--------|---------------------------------|
|                                                     |   | **2006**                         |   | **2005**                        |
| Revolving                Credit Facility - Cripple Creek | $      | 4,556                            | $      | 481                             |
| Construction                Term Loan - Central City     |   | 34,495                           |   | 8,931                           |
| Construction                Term Loan - Edmonton         |   | 11,199                           |   | -                               |
| Construction                Term Loan - Newcastle        |   | 2,055                            |   | -                               |
| Term                Loan - Caledon                       |   | 6,470                            |   | 9,091                           |
| Notes                payable                             |   | 2,248                            |   | 1,135                           |
| Capital                leases and other                  |   | 634                              |   | 85                              |
|                                                     |   |                             |   |                            |
| Total                long-term debt                      |   | 61,657                           |   | 19,723                          |
| Less                current portion                      |   | (6,037)                          |   | (1,789)                         |
| Long-term                portion                         | $      | 55,620                           | $      | 17,934                          |

*Revolving      Credit Facility - Cripple Creek*

----

*Construction      Term Loan - Central City*

*Construction      Term Loan - Newcastle*

*Notes      Payable *

----

*Capital      Leases and Other*

**8.      **
**SEGMENT      INFORMATION**

|                                              | Property,                Plant and Equipment | Total                Assets     |
|---------------------------------------------------|----------------------------------------------|---------------------------------|
| *Amounts                in thousands*             | September                30,2006             | December                31,2005 | September                30,2006 | December                31,2005 |
| Cripple                Creek (Colorado, USA)      | $                                            | 22,217                          | $ | 23,206 | $ | 32,425 | $ | 33,151 |
| Central                City (Colorado, USA)       |                                         | 44,758                          |   | 21,105 |   | 50,368 |   | 23,219 |
| Edmonton                (Alberta, Canada)         |                                         | 24,774                          |   | 8,750 |   | 28,900 |   | 9,654 |
| Caledon                (South Africa)             |                                         | 13,373                          |   | 15,205 |   | 16,619 |   | 19,584 |
| Newcastle                (South Africa)           |                                         | 7,036                           |   | - |   | 14,454 |   | - |
| Casino                Millennium (Czech Republic) |                                         | 589                             |   | - |   | 2,331 |   | - |
| Cruise                Ships (International)       |                                         | 862                             |   | 854 |   | 1,657 |   | 1,629 |
| Corporate                                         |                                         | 697                             |   | 482 |   | 32,855 |   | 36,326 |
| **Total**                                         | $                                            | 114,306                         | $ | 69,602 | $ | 179,609 | $ | 123,563 |

----

|                                              | Net                Operating Revenue                                  |
|---------------------------------------------------|-----------------------------------------------------------------------|
| *Amounts                in thousands*             | For                the three monthsended                September 30, | For                the nine monthsended                September 30, |
| 2006                                              | 2005                                                                  | 2006 | 2005 |
| Cripple                Creek (Colorado, USA)      | $                                                                     | 4,730 | $ | 4,984 | $ | 12,534 | $ | 13,249 |
| Central                City (Colorado, USA)       |                                                                  | 4,688 |   | - |   | 4,688 |   | 6 |
| Edmonton                (Alberta, Canada)         |                                                                  | 1 |   | - |   | 3 |   | 37 |
| Caledon                (South Africa)             |                                                                  | 4,350 |   | 4,158 |   | 13,783 |   | 12,524 |
| Newcastle                (South Africa)           |                                                                  | 1,891 |   | - |   | 3,941 |   | - |
| Casino                Millennium (Czech Republic) |                                                                  | 561 |   | - |   | 956 |   | - |
| Cruise                Ships (International)       |                                                                  | 757 |   | 866 |   | 2,396 |   | 2,294 |
| Corporate                and other                |                                                                  | - |   | 22 |   | 12 |   | 56 |
| **Total**                                         | $                                                                     | 16,978 | $ | 10,030 | $ | 38,313 | $ | 28,166 |

|                                              | Net                Earnings                                           |
|---------------------------------------------------|-----------------------------------------------------------------------|
| *Amounts                in thousands*             | For                the three monthsended                September 30, | For                the nine monthsended                September 30, |
| 2006                                              | 2005                                                                  | 2006 | 2005 |
| Cripple                Creek (Colorado, USA)      | $                                                                     | 966 | $ | 1,101 | $ | 2,135 | $ | 2,428 |
| Central                City (Colorado, USA)       |                                                                  | (405) |   | 364 |   | (655) |   | 364 |
| Edmonton                (Alberta, Canada)         |                                                                  | (199) |   | (44) |   | (263) |   | (83) |
| Caledon                (South Africa)             |                                                                  | 990 |   | 596 |   | 2,872 |   | 2,059 |
| Newcastle                (South Africa)           |                                                                  | 297 |   | - |   | 567 |   | - |
| Casino                Millennium (Czech Republic) |                                                                  | 22 |   | - |   | (9) |   | - |
| Cruise                Ships (International)       |                                                                  | 152 |   | 272 |   | 439 |   | 652 |
| Corporate                and other                |                                                                  | 28 |   | (1,008) |   | (214) |   | (2,623) |
| **Total**                                         | $                                                                     | 1,851 | $ | 1,281 | $ | 4,872 | $ | 2,797 |

**9.**
**PROMOTIONAL      ALLOWANCES**

|                                         | **For                the Three Months****Ended                September 30,** | **For                the Nine Months****Ended                September 30,** |
|----------------------------------------------|-------------------------------------------------------------------------------|------------------------------------------------------------------------------|
| *Amounts                in thousands*        | **2006**                                                                      | **2005**                                                                     | **2006** | **2005** |
| Food                & Beverage and Hotel | $                                                                             | 558                                                                          | $ | 372 | $ | 1,129 | $ | 1,055 |
| Free                Plays or Coupons         |                                                                          | 348                                                                          |   | 398 |   | 1,006 |   | 1,246 |
| Player                Points                 |                                                                          | 302                                                                          |   | 412 |   | 958 |   | 1,073 |
| Total                Promotional Allowances  | $                                                                             | 1,208                                                                        | $ | 1,182 | $ | 3,093 | $ | 3,374 |

----

**10.**
**INCOME      TAXES**

|                                              | **For                the Three MonthsEnded September 30,** | **For                the Nine Months****Ended                September 30,** |
|---------------------------------------------------|------------------------------------------------------------|------------------------------------------------------------------------------|
| *Amounts                in thousands*             |                                                       | **2006**                                                                     |   | **2005** |   | **2006** |   | **2005** |
| Provision                for federal income taxes | $                                                          | (438)                                                                        | $ | 309 | $ | (649) | $ | 121 |
| Provision                for state income taxes   |                                                       | (71)                                                                         |   | 34 |   | (101) |   | 7 |
| Provision                for foreign income taxes |                                                       | 442                                                                          |   | 149 |   | 1,144 |   | 510 |
| Total                Provision for income taxes   | $                                                          | (67)                                                                         | $ | 492 | $ | 394 | $ | 638 |

|                                                     | **For                the Three Months****Ended                September 30,** | **For                the Nine Months****Ended                September 30,** |
|----------------------------------------------------------|-------------------------------------------------------------------------------|------------------------------------------------------------------------------|
|                                                     |                                                                          | **2006**                                                                     |   | **2005** |   | **2006** |   | **2005** |
| Federal                income tax statutory rate         |                                                                          | 34.0%                                                                        |   | 34.0% |   | 34.0% |   | 34.0% |
| Foreign                income taxes                      |                                                                          | (60.5%)                                                                      |   | (30.3%) |   | (52.7%) |   | (40.7%) |
| State                income tax (net of federal benefit) |                                                                          | (0.1%)                                                                       |   | (0.5%) |   | 0.9% |   | 0.7% |
| Losses                assigned to minority partner       |                                                                          | 10.2%                                                                        |   | 11.5% |   | 9.8% |   | 6.9% |
| Permanent                and other items                 |                                                                          | 11.9%                                                                        |   | 22.5% |   | 17.0% |   | 21.3% |
| Total                provision for income taxes          |                                                                          | (4.5%)                                                                       |   | 37.2% |   | 9.0% |   | 22.2% |

----

**11.**
**EARNINGS      PER SHARE**

| *Amounts                in thousands,**except                for share information* | **For                the Three Months****Ended                September 30,** | **For                the Nine Months****Ended                September 30,** |
|-------------------------------------------------------------------------------------|-------------------------------------------------------------------------------|------------------------------------------------------------------------------|
|                                                                                | **2006**                                                                      | **2005**                                                                     | **2006** | **2005** |
| Basic                Earnings Per Share:                                            |                                                                          |                                                                         |   |   |   |   |   |   |
| Net                earnings                                                         | $                                                                             | 1,851                                                                        | $ | 1,281 | $ | 4,872 | $ | 2,797 |
| Weighted                average common shares                                       |                                                                          | 22,980,567                                                                   |   | 14,663,683 |   | 22,705,842 |   | 14,055,531 |
| Basic                earnings per share                                             | $                                                                             | 0.08                                                                         | $ | 0.09 | $ | 0.21 | $ | 0.20 |
|                                                                                |                                                                          |                                                                         |   |   |   |   |   |   |
| Diluted                Earnings Per Share:                                          |                                                                          |                                                                         |   |   |   |   |   |   |
| Net                earnings                                                         | $                                                                             | 1,851                                                                        | $ | 1,281 | $ | 4,872 | $ | 2,797 |
| Weighted                average common shares                                       |                                                                          | 22,980,567                                                                   |   | 14,663,683 |   | 22,705,842 |   | 14,055,531 |
| Effect                of dilutive securities:                                       |                                                                          |                                                                         |   |   |   |   |   |   |
| Stock                options and warrants                                           |                                                                          | 967,290                                                                      |   | 1,851,264 |   | 1,200,070 |   | 2,395,205 |
| Dilutive                potential common shares                                     |                                                                          | 23,947,857                                                                   |   | 16,514,947 |   | 23,905,912 |   | 16,450,736 |
| Diluted                earnings per share                                           | $                                                                             | 0.08                                                                         | $ | 0.08 | $ | 0.20 | $ | 0.17 |

**12.**
**SUPPLEMENTAL      DISCLOSURE OF NON-CASH FINANCING ACTIVITIES:**

| *Amounts                in thousands*                            |   |   |
|------------------------------------------------------------------|--------|--------|
| Cash                                                             | $      | 402    |
| Restricted                cash                                   |   | 845    |
| Accounts                receivable                               |   | 153    |
| Property                and equipment, net                       |   | 594    |
| Goodwill                                                         |   | (345)  |
| Other                assets, including intercompany debt assumed |   | 196    |
| Accounts                payable and accrued liabilities          |   | (132)  |
| Accrued                payroll                                   |   | (9)    |
| Taxes                payable                                     |   | (343)  |
| Long-term                debt                                    |   | (681)  |
| Cash                paid                                         | $      | 680    |

----

| *Amounts                in thousands*                   |   |    |
|---------------------------------------------------------|--------|---------|
| Cash                                                    | $      | 1,530   |
| Accounts                receivable                      |   | 33      |
| Prepaid                expenses                         |   | 91      |
| Inventory                                               |   | 74      |
| Other                current assets                     |   | 295     |
| Property                and equipment, net              |   | 3,620   |
| Goodwill                                                |   | 7,322   |
| Casino                licenses                          |   | 766     |
| Accounts                payable and accrued liabilities |   | (800)   |
| Accrued                payroll                          |   | (183)   |
| Taxes                payable                            |   | (446)   |
| Long-term                debt                           |   | (733)   |
| Amount                credited to minority partner      |   | (4,917) |
| Cash                paid                                | $      | 6,652   |

| *Amounts                in thousands*              |   |    |
|----------------------------------------------------|--------|---------|
| Cash                                               | $      | 1,679   |
| Property                and equipment, net         |   | 2,631   |
| Amount                credited to minority partner |   | (1,878) |
| Cash                paid                           | $      | 2,432   |

| *Amounts                in thousands*                   |   |    |
|---------------------------------------------------------|--------|---------|
| Fair                value of minority interest acquired | $      | 1,818   |
| Goodwill                                                |   | 4,342   |
| Long-term                debt                           |   | (1,025) |
| Cash                paid                                | $      | 5,135   |

----

**Item      2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION      AND**

**RESULTS      OF OPERATIONS**

**Forward-Looking      Statements, Business Environment and Risk Factors**

**AVAILABLE      INFORMATION**

**ADJUSTED      EBITDA**

----

|                                        |   | **For                the three months****ended                September 30,** |   | **For                the nine months****ended                September 30,** |
|---------------------------------------------|--------|-------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------|
| *(Amounts                in thousands)*     |   | **2006**                                                                      |   | **2005**                                                                     |   | **2006** |   | **2005** |
| **Adjusted                EBITDA**          |   |                                                                          |   |                                                                         |   |   |   |   |
| Cripple                Creek, Colorado      | $      | 2,067                                                                         | $      | 2,057                                                                        | $ | 4,947 | $ | 4,991 |
| Caledon,                South Africa        |   | 1,821                                                                         |   | 1,598                                                                        |   | 5,629 |   | 4,878 |
| Newcastle,                South Africa      |   | 607                                                                           |   | -                                                                            |   | 1,293 |   | - |
| Central                City, Colorado       |   | 634                                                                           |   | (17)                                                                         |   | (104) |   | (75) |
| Edmonton,                Canada             |   | (184)                                                                         |   | (133)                                                                        |   | (281) |   | (181) |
| All                other operating segments |   | 281                                                                           |   | 316                                                                          |   | 706 |   | 769 |
| Corporate                                   |   | (1,286)                                                                       |   | (1,032)                                                                      |   | (3,644) |   | (3,367) |
| Total                Adjusted EBITDA        | $      | 3,940                                                                         | $      | 2,789                                                                        | $ | 8,546 | $ | 7,015 |

**OVERVIEW**

----

**CONSOLIDATED      RESULTS OF OPERATIONS**

----

**CRIPPLE      CREEK, COLORADO**

|                                                                             |   | **For                the three months****ended                September 30,** |   | **For                the nine months****ended                September 30,** |
|----------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------|
| *(Amounts                in thousands)*                                          |   | **2006**                                                                      |   | **2005**                                                                     |   | **2006** |   | **2005** |
| **Operating                Revenue**                                             |   |                                                                          |   |                                                                         |   |   |   |   |
| Casino                                                                           | $      | 5,126                                                                         | $      | 5,414                                                                        | $ | 13,768 | $ | 14,675 |
| Hotel,                food and beverage                                          |   | 400                                                                           |   | 440                                                                          |   | 1,043 |   | 1,151 |
| Other                (net of promotional allowances)                             |   | (796)                                                                         |   | (870)                                                                        |   | (2,277) |   | (2,577) |
| Net                operating revenue                                             |   | 4,730                                                                         |   | 4,984                                                                        |   | 12,534 |   | 13,249 |
|                                                                             |   |                                                                          |   |                                                                         |   |   |   |   |
| **Costs                and Expenses**                                            |   |                                                                          |   |                                                                         |   |   |   |   |
| Casino                                                                           |   | 1,435                                                                         |   | 1,790                                                                        |   | 4,227 |   | 5,039 |
| Hotel,                food and beverage                                          |   | 207                                                                           |   | 219                                                                          |   | 439 |   | 509 |
| General                and administrative                                        |   | 1,021                                                                         |   | 918                                                                          |   | 2,921 |   | 2,710 |
| Depreciation                and amortization                                     |   | 399                                                                           |   | 417                                                                          |   | 1,211 |   | 1,290 |
|                                                                             |   | 3,062                                                                         |   | 3,344                                                                        |   | 8,798 |   | 9,548 |
| Earnings                from operations                                          |   | 1,668                                                                         |   | 1,640                                                                        |   | 3,736 |   | 3,701 |
| Interest                income                                                   |   | 6                                                                             |   | 2                                                                            |   | 12 |   | 8 |
| Interest                (expense)                                                |   | (223)                                                                         |   | (366)                                                                        |   | (664) |   | (1,082) |
| Interest                expense on non-Cripple Creek debt allocated to Corporate |   | 120                                                                           |   | 500                                                                          |   | 358 |   | 1,289 |
| Other                (expense), net                                              |   | -                                                                             |   | -                                                                            |   | - |   | - |
| Earnings                before income taxes                                      |   | 1,571                                                                         |   | 1,776                                                                        |   | 3,442 |   | 3,916 |
| Income                tax expense                                                |   | 605                                                                           |   | 675                                                                          |   | 1,307 |   | 1,488 |
| **Net                Earnings**                                                  | **$**  | **966**                                                                       | **$**  | **1,101**                                                                    | **$** | **2,135** | **$** | **2,428** |
|                                                                             |   |                                                                          |   |                                                                         |   |   |   |   |
| **Reconciliation                to Adjusted EBITDA:**                            |   |                                                                          |   |                                                                         |   |   |   |   |
| Net                earnings                                                      | $      | 966                                                                           | $      | 1,101                                                                        | $ | 2,135 | $ | 2,428 |
| Minority                interest                                                 |   | -                                                                             |   | -                                                                            |   | - |   | - |
| Interest                income                                                   |   | (6)                                                                           |   | (2)                                                                          |   | (12) |   | (8) |
| Interest                expense (including amounts allocated to Corporate)       |   | 103                                                                           |   | (134)                                                                        |   | 306 |   | (207) |
| Income                tax expense                                                |   | 605                                                                           |   | 675                                                                          |   | 1,307 |   | 1,488 |
| Depreciation                and amortization                                     |   | 399                                                                           |   | 417                                                                          |   | 1,211 |   | 1,290 |
| **Adjusted                EBITDA**                                               | **$**  | **2,067**                                                                     | **$**  | **2,057**                                                                    | **$** | **4,947** | **$** | **4,991** |

----

**Casino      Market Data**

|                                                            | **For                the three months****ended                September 30,** | **For                the nine months****ended                September 30,** |
|-----------------------------------------------------------------|-------------------------------------------------------------------------------|------------------------------------------------------------------------------|
|                                                            | **2006**                                                                      | **2005**                                                                     | **2006** | **2005** |
| Market                share of the Cripple Creek gaming revenue |                                                                          | 12.0%                                                                        |   | 12.8% |   | 11.6% |   | 12.8% |
| Average                number of slot machines                  |                                                                          | 585                                                                          |   | 608 |   | 584 |   | 625 |
| Market                share of Cripple Creek gaming devices     |                                                                          | 12.4%                                                                        |   | 12.9% |   | 12.3% |   | 13.1% |
| Average                slot machine win per day                 |                                                                          | $                94                                                          |   | $                95 |   | $                85 |   | $                85 |
| Cripple                Creek average slot machine win per day   |                                                                          | $                96                                                          |   | $                95 |   | $                89 |   | $                87 |

**Three      months ended September 30, 2006 vs 2005**

**Nine      months ended September 30, 2006 vs 2005**

----

**CALEDON,      SOUTH AFRICA**

|                                                                                                                 |   | **For                the three months****ended                September 30,** |   | **For                the nine months****ended                September 30,** |
|----------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------|
| *(Amounts                in thousands)*                                                                              |   | **2006**                                                                      |   | **2005**                                                                     |   | **2006** |   | **2005** |
| **Operating                Revenue**                                                                                 |   |                                                                          |   |                                                                         |   |   |   |   |
| Casino                                                                                                               | $      | 3,728                                                                         | $      | 3,589                                                                        | $ | 11,732 | $ | 10,790 |
| Hotel,                food and beverage                                                                              |   | 676                                                                           |   | 802                                                                          |   | 2,182 |   | 2,260 |
| Other                (net of promotional allowances)                                                                 |   | (54)                                                                          |   | (233)                                                                        |   | (131) |   | (526) |
| Net                operating revenue                                                                                 |   | 4,350                                                                         |   | 4,158                                                                        |   | 13,783 |   | 12,524 |
|                                                                                                                 |   |                                                                          |   |                                                                         |   |   |   |   |
| **Costs                and Expenses**                                                                                |   |                                                                          |   |                                                                         |   |   |   |   |
| Casino                                                                                                               |   | 1,416                                                                         |   | 1,409                                                                        |   | 4,434 |   | 4,187 |
| Hotel,                food and beverage                                                                              |   | 443                                                                           |   | 510                                                                          |   | 1,437 |   | 1,575 |
| General                and administrative                                                                            |   | 696                                                                           |   | 641                                                                          |   | 2,277 |   | 1,884 |
| Property                write-downs and other write-offs,  net                of                recoveries |   | (26)                                                                          |   | -                                                                            |   | (26) |   | - |
| Depreciation                and amortization                                                                         |   | 279                                                                           |   | 374                                                                          |   | 882 |   | 1,206 |
|                                                                                                                 |   | 2,808                                                                         |   | 2,934                                                                        |   | 9,004 |   | 8,852 |
| Earnings                from operations                                                                              |   | 1,542                                                                         |   | 1,224                                                                        |   | 4,779 |   | 3,672 |
| Interest                income                                                                                       |   | 5                                                                             |   | 6                                                                            |   | 13 |   | 39 |
| Interest                (expense)                                                                                    |   | (182)                                                                         |   | (313)                                                                        |   | (590) |   | (622) |
| Other                (expense), net                                                                                  |   | -                                                                             |   | -                                                                            |   | (32) |   | - |
| Earnings                before income taxes                                                                          |   | 1,365                                                                         |   | 917                                                                          |   | 4,170 |   | 3,089 |
| Income                tax expense                                                                                    |   | 375                                                                           |   | 321                                                                          |   | 1,298 |   | 1,030 |
| **Net                Earnings**                                                                                      | **$**  | **990**                                                                       | **$**  | **596**                                                                      | **$** | **2,872** | **$** | **2,059** |
|                                                                                                                 |   |                                                                          |   |                                                                         |   |   |   |   |
| **Reconciliation                to Adjusted EBITDA:**                                                                |   |                                                                          |   |                                                                         |   |   |   |   |
| Net                earnings                                                                                          | $      | 990                                                                           | $      | 596                                                                          | $ | 2,872 | $ | 2,059 |
| Minority                interest                                                                                     |   | -                                                                             |   | -                                                                            |   | - |   | - |
| Interest                income                                                                                       |   | (5)                                                                           |   | (6)                                                                          |   | (13) |   | (39) |
| Interest                expense                                                                                      |   | 182                                                                           |   | 313                                                                          |   | 590 |   | 622 |
| Income                tax expense                                                                                    |   | 375                                                                           |   | 321                                                                          |   | 1,298 |   | 1,030 |
| Depreciation                and amortization                                                                         |   | 279                                                                           |   | 374                                                                          |   | 882 |   | 1,206 |
| **Adjusted                EBITDA**                                                                                   | **$**  | **1,821**                                                                     | **$**  | **1,598**                                                                    | **$** | **5,629** | **$** | **4,878** |

| **Average                exchange rate (ZAR/USD)** |   | **7.18** |   | **6.50** |   | **6.57** |   | **6.27** |
|----------------------------------------------------|--------|----------|--------|----------|--------|----------|--------|----------|

----

|                                                                                                                 |    | **For                the three months****ended                September 30,** |    | **For                the nine months****ended                September 30,** |
|----------------------------------------------------------------------------------------------------------------------|---------|-------------------------------------------------------------------------------|---------|------------------------------------------------------------------------------|
| *(Amounts                in thousands)*                                                                              |    | **2006**                                                                      |    | **2005**                                                                     |   | **2006** |   | **2005** |
| **Operating                Revenue**                                                                                 |    |                                                                          |    |                                                                         |   |   |   |   |
| Casino                                                                                                               | ZAR     | 26,773                                                                        | ZAR     | 23,322                                                                       | ZAR | 77,041 | ZAR | 67,404 |
| Hotel,                food and beverage                                                                              |    | 4,873                                                                         |    | 5,208                                                                        |   | 14,337 |   | 14,125 |
| Other                (net of promotional allowances)                                                                 |    | (382)                                                                         |    | (1,510)                                                                      |   | (875) |   | (3,346) |
| Net                operating revenue                                                                                 |    | 31,264                                                                        |    | 27,020                                                                       |   | 90,503 |   | 78,183 |
|                                                                                                                 |    |                                                                          |    |                                                                         |   |   |   |   |
| **Costs                and Expenses**                                                                                |    |                                                                          |    |                                                                         |   |   |   |   |
| Casino                                                                                                               |    | 10,174                                                                        |    | 9,140                                                                        |   | 29,189 |   | 26,204 |
| Hotel,                food and beverage                                                                              |    | 3,144                                                                         |    | 3,334                                                                        |   | 9,368 |   | 9,853 |
| General                and administrative                                                                            |    | 5,010                                                                         |    | 4,174                                                                        |   | 14,994 |   | 11,856 |
| Property                write-downs and other write-offs,  net                of                recoveries |    | (214)                                                                         |    | -                                                                            |   | (214) |   | - |
| Depreciation                and amortization                                                                         |    | 2,010                                                                         |    | 2,435                                                                        |   | 5,779 |   | 7,599 |
|                                                                                                                 |    | 20,124                                                                        |    | 19,083                                                                       |   | 59,116 |   | 55,512 |
| Earnings                from operations                                                                              |    | 11,140                                                                        |    | 7,937                                                                        |   | 31,387 |   | 22,671 |
| Interest                income                                                                                       |    | 40                                                                            |    | 43                                                                           |   | 90 |   | 241 |
| Interest                (expense)                                                                                    |    | (1,309)                                                                       |    | (2,046)                                                                      |   | (3,883) |   | (3,937) |
| Other                (expense), net                                                                                  |    | 2                                                                             |    | -                                                                            |   | (208) |   | - |
| Earnings                before income taxes                                                                          |    | 9,873                                                                         |    | 5,934                                                                        |   | 27,386 |   | 18,975 |
| Income                tax expense                                                                                    |    | 2,715                                                                         |    | 2,078                                                                        |   | 8,506 |   | 6,361 |
| **Net                Earnings**                                                                                      | **ZAR** | **7,158**                                                                     | **ZAR** | **3,856**                                                                    | **ZAR** | **18,880** | **ZAR** | **12,614** |
|                                                                                                                 |    |                                                                          |    |                                                                         |   |   |   |   |
| **Reconciliation                to Adjusted EBITDA:**                                                                |    |                                                                          |    |                                                                         |   |   |   |   |
| Net                earnings                                                                                          | ZAR     | 7,158                                                                         | ZAR     | 3,856                                                                        | ZAR | 18,880 | ZAR | 12,614 |
| Minority                interest                                                                                     |    | -                                                                             |    | -                                                                            |   | - |   | - |
| Interest                income                                                                                       |    | (40)                                                                          |    | (43)                                                                         |   | (90) |   | (241) |
| Interest                expense                                                                                      |    | 1,309                                                                         |    | 2,046                                                                        |   | 3,883 |   | 3,937 |
| Income                tax expense                                                                                    |    | 2,715                                                                         |    | 2,078                                                                        |   | 8,506 |   | 6,361 |
| Depreciation                and amortization                                                                         |    | 2,010                                                                         |    | 2,435                                                                        |   | 5,779 |   | 7,599 |
| **Adjusted                EBITDA**                                                                                   | **ZAR** | **13,152**                                                                    | **ZAR** | **10,372**                                                                   | **ZAR** | **36,958** | **ZAR** | **30,270** |

**Casino      Market Data (in Rand)**

|                                                           | **For                the three months****ended                September 30,** | **For                the nine months****ended                September 30,** |
|----------------------------------------------------------------|-------------------------------------------------------------------------------|------------------------------------------------------------------------------|
|                                                           | **2006**                                                                      | **2005**                                                                     | **2006** | **2005** |
| Market                share of the Western Cape gaming revenue | 5.7%                                                                          | 5.6%                                                                         | 5.9% | 5.6% |
| Market                share of Western Cape gaming devices     | 12.4%                                                                         | 11.3%                                                                        | 12.9% | 11.4% |
| Average                number of slot machines                 | 348                                                                           | 300                                                                          | 349 | 300 |
| Average                slot machine win per day                | ZAR                782                                                        | ZAR                777                                                       | ZAR                754 | ZAR                766 |
| Average                number of tables                        | 6                                                                             | 9                                                                            | 7 | 9 |
| Average                table win per day                       | ZAR                3,127                                                      | ZAR                2,085                                                     | ZAR                2,783 | ZAR                1,821 |

----

**Three      months ended September 30, 2006 vs 2005**

**Nine      months ended September 30, 2006 vs 2005**

----

----

**NEWCASTLE,      SOUTH AFRICA**

|                                                              |   | **For                the three****months                ended****September                30, 2006** |   | **April                1, 2006 through****September                30, 2006** |
|-------------------------------------------------------------------|--------|------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------------|
| *(Amounts                in thousands)*                           |   |                                                                                                 |   |                                                                          |
| **Operating                Revenue**                              |   |                                                                                                 |   |                                                                          |
| Casino                                                            | $      | 1,719                                                                                                | $      | 3,579                                                                         |
| Hotel,                food and beverage                           |   | 113                                                                                                  |   | 311                                                                           |
| Other                (net of promotional allowances)              |   | 59                                                                                                   |   | 51                                                                            |
| Net                operating revenue                              |   | 1,891                                                                                                |   | 3,941                                                                         |
|                                                              |   |                                                                                                 |   |                                                                          |
| **Costs                and Expenses**                             |   |                                                                                                 |   |                                                                          |
| Casino                                                            |   | 685                                                                                                  |   | 1,403                                                                         |
| Hotel,                food and beverage                           |   | 47                                                                                                   |   | 205                                                                           |
| General                and administrative                         |   | 552                                                                                                  |   | 1,040                                                                         |
| Depreciation                and amortization                      |   | 38                                                                                                   |   | 144                                                                           |
|                                                              |   | 1,322                                                                                                |   | 2,792                                                                         |
| Earnings                from operations                           |   | 569                                                                                                  |   | 1,149                                                                         |
| Interest                income                                    |   | -                                                                                                    |   | -                                                                             |
| Interest                (expense)                                 |   | -                                                                                                    |   | (8)                                                                           |
| Other                (expense), net                               |   | -                                                                                                    |   | -                                                                             |
| Earnings                before income taxes and minority interest |   | 569                                                                                                  |   | 1,141                                                                         |
| Income                tax expense                                 |   | 183                                                                                                  |   | 356                                                                           |
| **Earnings                before minority interest**              |   | **386**                                                                                              |   | **785**                                                                       |
| Minority                Interest                                  |   | 89                                                                                                   |   | 218                                                                           |
| **Net                Earnings**                                   | $      | **297**                                                                                              | $      | **567**                                                                       |
|                                                              |   |                                                                                                 |   |                                                                          |
| **Reconciliation                to Adjusted EBITDA:**             |   |                                                                                                 |   |                                                                          |
| Net                earnings                                       | $      | 297                                                                                                  | $      | 567                                                                           |
| Minority                interest                                  |   | 89                                                                                                   |   | 218                                                                           |
| Interest                income                                    |   | -                                                                                                    |   | -                                                                             |
| Interest                expense                                   |   | -                                                                                                    |   | 8                                                                             |
| Income                tax expense                                 |   | 183                                                                                                  |   | 356                                                                           |
| Depreciation                and amortization                      |   | 38                                                                                                   |   | 144                                                                           |
| **Adjusted                EBITDA**                                | **$**  | **607**                                                                                              | **$**  | **1,293**                                                                     |

| **Average                exchange rate (ZAR/USD)** |   | **7.18** | **6.57** |
|----------------------------------------------------|--------|----------|----------|

----

|                                                              | **For                the three****months                ended****September                30, 2006** | **April                1, 2006 through****September                30, 2006** |
|-------------------------------------------------------------------|------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------|
| *(Amounts                in thousands)*                           |                                                                                                 |                                                                          |   |   |
| **Operating                Revenue**                              |                                                                                                 |                                                                          |   |   |
| Casino                                                            | ZAR                                                                                                  | 12,330                                                                        | ZAR | 24,300 |
| Hotel,                food and beverage                           |                                                                                                 | 819                                                                           |   | 2,094 |
| Other                (net of promotional allowances)              |                                                                                                 | 428                                                                           |   | 371 |
| Net                operating revenue                              |                                                                                                 | 13,577                                                                        |   | 26,765 |
|                                                              |                                                                                                 |                                                                          |   |   |
| **Costs                and Expenses**                             |                                                                                                 |                                                                          |   |   |
| Casino                                                            |                                                                                                 | 4,916                                                                         |   | 9,537 |
| Hotel,                food and beverage                           |                                                                                                 | 342                                                                           |   | 1,355 |
| General                and administrative                         |                                                                                                 | 3,990                                                                         |   | 7,085 |
| Depreciation                and amortization                      |                                                                                                 | 275                                                                           |   | 938 |
|                                                              |                                                                                                 | 9,523                                                                         |   | 18,915 |
| Earnings                from operations                           |                                                                                                 | 4,054                                                                         |   | 7,850 |
| Interest                income                                    |                                                                                                 | -                                                                             |   | - |
| Interest                (expense)                                 |                                                                                                 | -                                                                             |   | (61) |
| Other                (expense), net                               |                                                                                                 | -                                                                             |   | - |
| Earnings                before income taxes and minority interest |                                                                                                 | 4,054                                                                         |   | 7,789 |
| Income                tax expense                                 |                                                                                                 | 1,316                                                                         |   | 2,447 |
| **Earnings                before minority interest**              |                                                                                                 | **2,738**                                                                     |   | **5,342** |
| Minority                Interest                                  |                                                                                                 | 634                                                                           |   | 1,474 |
| **Net                Earnings**                                   | ZAR                                                                                                  | **2,104**                                                                     | ZAR | **3,868** |
|                                                              |                                                                                                 |                                                                          |   |   |
| **Reconciliation                to Adjusted EBITDA:**             |                                                                                                 |                                                                          |   |   |
| Net                earnings                                       | ZAR                                                                                                  | 2,104                                                                         | ZAR | 3,868 |
| Minority                interest                                  |                                                                                                 | 634                                                                           |   | 1,474 |
| Interest                income                                    |                                                                                                 | -                                                                             |   | - |
| Interest                expense                                   |                                                                                                 | -                                                                             |   | 61 |
| Income                tax expense                                 |                                                                                                 | 1,316                                                                         |   | 2,447 |
| Depreciation                and amortization                      |                                                                                                 | 275                                                                           |   | 938 |
| **Adjusted                EBITDA**                                | **ZAR**                                                                                              | **4,329**                                                                     | **ZAR** | **8,788** |

----

**Casino      Market Data (in Rand)**

|                                                            | **For                the three****months                ended****September                30, 2006** | **April                1, 2006 through****September                30, 2006** |
|-----------------------------------------------------------------|------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------|
| Market                share of the KwaZulu-Natal gaming revenue | 2.4%                                                                                                 | 2.5%                                                                          |
| Market                share of KwaZulu-Natal gaming devices     | 6.3%                                                                                                 | 6.3%                                                                          |
| Average                number of slot machines                  | 200                                                                                                  | 200                                                                           |
| Average                slot machine win per day                 | ZAR                605                                                                               | ZAR                589                                                        |
| Average                number of tables                         | 7                                                                                                    | 7                                                                             |
| Average                table win per day                        | ZAR                1,865                                                                             | ZAR                2,154                                                      |

**Three      and six months ended September 30, 2006**

----

**CENTRAL      CITY, COLORADO**

|                                                          |   | **For                the three months****ended                September 30,** |   | **For                the nine months****ended                September 30,** |
|---------------------------------------------------------------|--------|-------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------|
| *(Amounts                in thousands)*                       |   | **2006**                                                                      |   | **2005**                                                                     |   | **2006** |   | **2005** |
| **Operating                Revenue**                          |   |                                                                          |   |                                                                         |   |   |   |   |
| Casino                                                        | $      | 4,475                                                                         | $      | -                                                                            | $ | 4,475 | $ | - |
| Hotel,                food and beverage                       |   | 432                                                                           |   | -                                                                            |   | 432 |   | - |
| Other                (net of promotional allowances)          |   | (219)                                                                         |   | -                                                                            |   | (219) |   | 6 |
| Net                operating revenue                          |   | 4,688                                                                         |   | -                                                                            |   | 4,688 |   | 6 |
|                                                          |   |                                                                          |   |                                                                         |   |   |   |   |
| **Costs                and Expenses**                         |   |                                                                          |   |                                                                         |   |   |   |   |
| Casino                                                        |   | 2,425                                                                         |   | -                                                                            |   | 2,468 |   | - |
| Hotel,                food and beverage                       |   | 661                                                                           |   | -                                                                            |   | 661 |   | - |
| General                and administrative                     |   | 968                                                                           |   | 17                                                                           |   | 1,663 |   | 81 |
| Depreciation                and amortization                  |   | 451                                                                           |   | -                                                                            |   | 451 |   | - |
|                                                          |   | 4,505                                                                         |   | 17                                                                           |   | 5,243 |   | 81 |
| Income                (loss) from operations                  |   | 183                                                                           |   | (17)                                                                         |   | (555) |   | (75) |
| Interest                income                                |   | -                                                                             |   | -                                                                            |   | - |   | - |
| Interest                (expense)                             |   | (1,281)                                                                       |   | (66)                                                                         |   | (1,766) |   | (145) |
| Other                income, net                              |   | -                                                                             |   | -                                                                            |   | - |   | - |
| Loss                before income taxes and minority interest |   | (1,098)                                                                       |   | (83)                                                                         |   | (2,321) |   | (220) |
| Income                tax benefit                             |   | (247)                                                                         |   | -                                                                            |   | (401) |   | - |
| **Loss                before minority interest**              |   | **(851)**                                                                     |   | **(83)**                                                                     |   | **(1,920)** |   | **(220)** |
| Minority                Interest                              |   | (446)                                                                         |   | (447)                                                                        |   | (1,265) |   | (584) |
| **Net                (Loss) Earnings**                        | $      | **(405)**                                                                     | **$**  | **364**                                                                      | **$** | **(655)** | **$** | **364** |
|                                                          |   |                                                                          |   |                                                                         |   |   |   |   |
| **Reconciliation                to Adjusted EBITDA:**         |   |                                                                          |   |                                                                         |   |   |   |   |
| Net                (loss) earnings                            | $      | (405)                                                                         | $      | 364                                                                          | $ | (655) | $ | 364 |
| Minority                interest                              |   | (446)                                                                         |   | (447)                                                                        |   | (1,265) |   | (584) |
| Interest                income                                |   | -                                                                             |   | -                                                                            |   | - |   | - |
| Interest                expense                               |   | 1,281                                                                         |   | 66                                                                           |   | 1,766 |   | 145 |
| Income                tax expense                             |   | (247)                                                                         |   | -                                                                            |   | (401) |   | - |
| Depreciation                and amortization                  |   | 451                                                                           |   | -                                                                            |   | 451 |   | - |
| **Adjusted                EBITDA**                            | **$**  | **634**                                                                       | **$**  | **(17)**                                                                     | **$** | **(104)** | **$** | **(75)** |

----

|                                                           | **For                the three months****ended                September 30, 2006** |
|----------------------------------------------------------------|------------------------------------------------------------------------------------|
| Market                share of the Central City gaming revenue |                                                                               | 21.1% |
| Average                number of slot machines                 |                                                                               | 488 |
| Market                share of Central City gaming devices     |                                                                               | 22.3% |
| Average                slot machine win per day                |                                                                               | $                109 |
| Central                City average slot machine win per day   |                                                                               | $                115 |

**Three      months ended September 30, 2006 vs 2005**

**Nine      months ended September 30, 2006 vs 2005**

----

**EDMONTON,      CANADA**

** **

|                                                          |   | **For                the three months****ended                September 30,** |   | **For                the nine months****ended                September 30,** |
|---------------------------------------------------------------|--------|-------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------|
| *(Amounts                in thousands)*                       |   | **2006**                                                                      |   | **2005**                                                                     |   | **2006** |   | **2005** |
| **Operating                Revenue**                          |   |                                                                          |   |                                                                         |   |   |   |   |
| Other                (net of promotional allowances)          | $      | 1                                                                             | $      | -                                                                            | $ | 3 | $ | 37 |
| Net                operating revenue                          |   | 1                                                                             |   | -                                                                            |   | 3 |   | 37 |
|                                                          |   |                                                                          |   |                                                                         |   |   |   |   |
| **Costs                and Expenses**                         |   |                                                                          |   |                                                                         |   |   |   |   |
| Casino                                                        |   | 8                                                                             |   | -                                                                            |   | 9 |   | - |
| Hotel,                food and beverage                       |   | 27                                                                            |   | -                                                                            |   | 32 |   | - |
| General                and administrative                     |   | 129                                                                           |   | 131                                                                          |   | 234 |   | 221 |
| Depreciation                and amortization                  |   | 6                                                                             |   | -                                                                            |   | 14 |   | - |
|                                                          |   | 170                                                                           |   | 131                                                                          |   | 289 |   | 221 |
| Loss                from operations                           |   | (169)                                                                         |   | (131)                                                                        |   | (286) |   | (184) |
| Interest                income                                |   | 4                                                                             |   | 2                                                                            |   | 16 |   | 7 |
| Interest                (expense)                             |   | (101)                                                                         |   | (9)                                                                          |   | (110) |   | (36) |
| Other                (expense) income, net                    |   | (21)                                                                          |   | (2)                                                                          |   | (9) |   | 3 |
| Loss                before income taxes and minority interest |   | (287)                                                                         |   | (140)                                                                        |   | (389) |   | (210) |
| Income                tax benefit                             |   | (88)                                                                          |   | (68)                                                                         |   | (126) |   | (68) |
| **Loss                before minority interest**              |   | **(199)**                                                                     |   | **(72)**                                                                     |   | **(263)** |   | **(142)** |
| Minority                Interest                              |   | -                                                                             |   | (28)                                                                         |   | - |   | (59) |
| **Net                Loss**                                   | $      | **(199)**                                                                     | **$**  | **(44)**                                                                     | **$** | **(263)** | **$** | **(83)** |
|                                                          |   |                                                                          |   |                                                                         |   |   |   |   |
| **Reconciliation                to Adjusted EBITDA:**         |   |                                                                          |   |                                                                         |   |   |   |   |
| Net                loss                                       | $      | (199)                                                                         | $      | (44)                                                                         | $ | (263) | $ | (83) |
| Minority                interest                              |   | -                                                                             |   | (28)                                                                         |   | - |   | (59) |
| Interest                income                                |   | (4)                                                                           |   | (2)                                                                          |   | (16) |   | (7) |
| Interest                expense                               |   | 101                                                                           |   | 9                                                                            |   | 110 |   | 36 |
| Income                tax (benefit)                           |   | (88)                                                                          |   | (68)                                                                         |   | (126) |   | (68) |
| Depreciation                and amortization                  |   | 6                                                                             |   | -                                                                            |   | 14 |   | - |
| **Adjusted                EBITDA**                            | **$**  | **(184)**                                                                     | **$**  | **(133)**                                                                    | **$** | **(281)** | **$** | **(181)** |

----

**Three      months ended September 30, 2006 vs 2005**

**Nine      months ended September 30, 2006 vs 2005**

**ALL      OTHER OPERATING SEGMENTS**

----

|                                                  |   | **For                the three months****ended                September 30,** |   | **For                the nine months****ended                September 30,** |
|-------------------------------------------------------|--------|-------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------|
| *(Amounts                in thousands)*               |   | **2006**                                                                      |   | **2005**                                                                     |   | **2006** |   | **2005** |
| **Operating                Revenue**                  |   |                                                                          |   |                                                                         |   |   |   |   |
| Casino                                                | $      | 1,213                                                                         | $      | 781                                                                          | $ | 3,113 | $ | 2,107 |
| Hotel,                food and beverage               |   | 6                                                                             |   | -                                                                            |   | 13 |   | - |
| Other                (net of promotional allowances)  |   | 99                                                                            |   | 85                                                                           |   | 226 |   | 187 |
| Net                operating revenue                  |   | 1,318                                                                         |   | 866                                                                          |   | 3,352 |   | 2,294 |
|                                                  |   |                                                                          |   |                                                                         |   |   |   |   |
| **Costs                and Expenses**                 |   |                                                                          |   |                                                                         |   |   |   |   |
| Casino                                                |   | 953                                                                           |   | 550                                                                          |   | 2,464 |   | 1,525 |
| Hotel,                food and beverage               |   | 14                                                                            |   | -                                                                            |   | 26 |   | - |
| General                and administrative             |   | 71                                                                            |   | -                                                                            |   | 130 |   | - |
| Depreciation                and amortization          |   | 97                                                                            |   | 36                                                                           |   | 246 |   | 97 |
|                                                  |   | 1,135                                                                         |   | 586                                                                          |   | 2,866 |   | 1,622 |
| Earnings                from operations               |   | 183                                                                           |   | 280                                                                          |   | 486 |   | 672 |
| Interest                income                        |   | 4                                                                             |   | -                                                                            |   | 7 |   | - |
| Interest                (expense)                     |   | (9)                                                                           |   | -                                                                            |   | (23) |   | - |
| Other                (expense), net                   |   | 1                                                                             |   | -                                                                            |   | (26) |   | - |
| Earnings                before income taxes           |   | 179                                                                           |   | 280                                                                          |   | 444 |   | 672 |
| Income                tax expense                     |   | 5                                                                             |   | 8                                                                            |   | 14 |   | 20 |
| **Net                Earnings**                       | **$**  | **174**                                                                       | **$**  | **272**                                                                      | **$** | **430** | **$** | **652** |
|                                                  |   |                                                                          |   |                                                                         |   |   |   |   |
| **Reconciliation                to Adjusted EBITDA:** |   |                                                                          |   |                                                                         |   |   |   |   |
| Net                earnings                           | $      | 174                                                                           | $      | 272                                                                          | $ | 430 | $ | 652 |
| Minority                interest                      |   | -                                                                             |   | -                                                                            |   | - |   | - |
| Interest                income                        |   | (4)                                                                           |   | -                                                                            |   | (7) |   | - |
| Interest                expense                       |   | 9                                                                             |   | -                                                                            |   | 23 |   | - |
| Income                tax expense                     |   | 5                                                                             |   | 8                                                                            |   | 14 |   | 20 |
| Depreciation                and amortization          |   | 97                                                                            |   | 36                                                                           |   | 246 |   | 97 |
| **Adjusted                EBITDA**                    | **$**  | **281**                                                                       | **$**  | **316**                                                                      | **$** | **706** | **$** | **769** |

**Three      months ended September 30, 2006 vs 2005**

----

**Nine      months ended September 30, 2006 vs 2005**

----

**CORPORATE      **

|                                                                                                                   | **For                the three months****ended                September 30,** | **For                the nine months****ended                September 30,** |
|------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------|------------------------------------------------------------------------------|
| *(Amounts                in thousands)*                                                                                | **2006**                                                                      | **2005**                                                                     | **2006** | **2005** |
| **Operating                Revenue**                                                                                   |                                                                          |                                                                         |   |   |   |   |   |   |
| Other                                                                                                                  | $                                                                             | -                                                                            | $ | 22 | $ | 12 | $ | 56 |
| Net                operating revenue                                                                                   |                                                                          | -                                                                            |   | 22 |   | 12 |   | 56 |
|                                                                                                                   |                                                                          |                                                                         |   |   |   |   |   |   |
| **Costs                and Expenses**                                                                                  |                                                                          |                                                                         |   |   |   |   |   |   |
| General                and administrative                                                                              |                                                                          | 1,681                                                                        |   | 1,053 |   | 4,402 |   | 3,339 |
| Property                write-down and other write-offs,net of recoveries                                              |                                                                          | (394)                                                                        |   | - |   | (379) |   | (30) |
| Depreciation                and amortization                                                                           |                                                                          | 23                                                                           |   | 20 |   | 50 |   | 44 |
|                                                                                                                   |                                                                          | 1,310                                                                        |   | 1,073 |   | 4,073 |   | 3,353 |
| Loss                from unconsolidated subsidiary                                                                     |                                                                          | -                                                                            |   | - |   | - |   | (109) |
| Loss                from operations                                                                                    |                                                                          | (1,310)                                                                      |   | (1,051) |   | (4,061) |   | (3,406) |
| Interest                income                                                                                         |                                                                          | 137                                                                          |   | 24 |   | 547 |   | 68 |
| Interest                (expense), net                                                                                 |                                                                          | 476                                                                          |   | 102 |   | 1,384 |   | 265 |
| Interest                expense on non-Cripple Creek debt    allocated to                Corporate |                                                                          | (120)                                                                        |   | (500) |   | (358) |   | (1,289) |
| Other                income (expense), net                                                                             |                                                                          | 1                                                                            |   | (1) |   | 367 |   | (1) |
| Non-operating                items from unconsolidated subsidiary                                                      |                                                                          | -                                                                            |   | - |   | - |   | (4) |
| Loss                before income taxes and minority interest                                                          |                                                                          | (816)                                                                        |   | (1,426) |   | (2,121) |   | (4,367) |
| Income                tax benefit                                                                                      |                                                                          | (900)                                                                        |   | (444) |   | (2,054) |   | (1,832) |
| Minority                interest                                                                                       |                                                                          | 56                                                                           |   | 26 |   | 147 |   | 88 |
| **Net                Earnings (Loss)**                                                                                 | **$**                                                                         | **28**                                                                       | **$** | **(1,008)** | **$** | **(214)** | **$** | **(2,623)** |
|                                                                                                                   |                                                                          |                                                                         |   |   |   |   |   |   |
| **Reconciliation                to Adjusted EBITDA:**                                                                  |                                                                          |                                                                         |   |   |   |   |   |   |
| Net                earnings (loss)                                                                                     |                                                                          | 28                                                                           |   | (1,008) |   | (214) |   | (2,623) |
| Minority                interest                                                                                       |                                                                          | 56                                                                           |   | 26 |   | 147 |   | 88 |
| Interest                income                                                                                         |                                                                          | (137)                                                                        |   | (24) |   | (547) |   | (68) |
| Interest                expense (including amounts allocated from Cripple Creek)                                       |                                                                          | (356)                                                                        |   | 398 |   | (1,026) |   | 1,024 |
| Income                tax expense                                                                                      |                                                                          | (900)                                                                        |   | (444) |   | (2,054) |   | (1,832) |
| Depreciation                and amortization                                                                           |                                                                          | 23                                                                           |   | 20 |   | 50 |   | 44 |
| **Adjusted                EBITDA**                                                                                     | **$**                                                                         | **(1,286)**                                                                  | **$** | **(1,032)** | **$** | **(3,644)** | **$** | **(3,367)** |

----

**Three      months ended September 30, 2006 vs 2005**

**Nine      months ended September 30, 2006 vs 2005**

----

**LIQUIDITY      AND CAPITAL RESOURCES**

----

----

----

**Item      3.**
**QUANTITATIVE      AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK**

**Item      4.**
**CONTROLS      AND PROCEDURES**

***Evaluation      of Disclosure Controls and Procedures -***

***Changes      in Internal Control Over Financial Reporting -***

----

**PART      II - OTHER INFORMATION**

**Item      1. - Legal Proceedings**

**Item      1A. - Risk Factors**

***Our      indebtedness imposes restrictive covenants on us, which limits our operating      flexibility.***

**Item      6. - Exhibits**

| 3.1   | Certificate                of Incorporation (filed with Proxy Statement in respect of the 1994                Annual                Meeting of Stockholders and incorporated herein by reference) is                hereby                incorporated by reference from Exhibit 3.1 to Century Casinos’ Annual                Report on Form 10-KSB for the fiscal year ended December 31,                1995.  |
|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3.2.2 | Amended                and Restated Bylaws of Century Casinos, Inc., is hereby incorporated                by                reference from Exhibit 11.14 to Century Casinos’ Quarterly Report on Form                10-Q for the quarterly period ended June 30, 2002.                                                                                                                                          |
| 4.4   | Rights                Agreement, dated as of April 29, 1999, between the Company and the                American Securities Transfer & Trust, Inc., as Rights Agent, is hereby                incorporated by reference from Exhibit 1 to Century Casinos Form                8-A dated                May 7, 1999.                                                                                                 |
| 4.5   | First                Supplement to Rights Agreement dated April 2000, between Century                Casinos,                Inc. and American Securities Transfer & Trust, Inc., as Rights Agent,                is hereby incorporated by reference from Exhibit A to Century Casinos’                Proxy Statement in respect of the 2000 Annual Meeting of                Stockholders.                      |

----

| 4.6        | Second                Supplement to Rights Agreement dated July 2002, between Century Casinos,                Inc. and Computershare Investor Services, Inc. as Rights Agent, is                hereby                incorporated by reference from Exhibit 11.13 to Century Casinos’ Quarterly                Report on Form 10-Q for the quarterly period ended June 30,                2002.                                                                                  |
|------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.181     | Settlement                Agreement entered into between Gold Reef Resorts Ltd., Akani Leisure                Investments (Pty) Ltd., Akani Leisure (Silverstar Holdings) (Pty)                Ltd.,                Silver Star Development Ltd., Century Resorts Ltd., Century Casinos                West                Rand (Pty) Ltd., Novomatic AG, Century Casinos Africa (Pty) Ltd.,                Century                Casinos., Inc, and Century Casinos Management, Inc.  |
| 31.1       | Certification                pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, Chairman                of the Board and Co Chief Executive Officer.                                                                                                                                                                                                                                                                                                                            |
| 31.2       | Certification                pursuant to Section 302 of the Sarbanes-Oxley Act of                2002, Vice                Chairman, Co Chief Executive Officer and President.                                                                                                                                                                                                                                                                                                     |
| 31.3       | Certification                pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, Senior                Vice President.                                                                                                                                                                                                                                                                                                                                                           |
| 31.4       | Certification                pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, Chief                Accounting Officer.                                                                                                                                                                                                                                                                                                                                                        |
| 32.1       | Certification                pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, Chairman                of the Board and Co Chief Executive Officer.                                                                                                                                                                                                                                                                                                                            |
| 32.2  | Certification                pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, Vice                Chairman, Co Chief Executive Officer and President.                                                                                                                                                                                                                                                                                                                              |
| 32.3  | Certification                pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, Senior                Vice President.                                                                                                                                                                                                                                                                                                                                                                |
| 32.4       | Certification                pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, Chief                Accounting Officer.                                                                                                                                                                                                                                                                                                                                                             |

**SIGNATURES:**

----

| **Exhibit                No.** | **Document**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|--------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3.1                            | Certificate                of Incorporation (filed with Proxy Statement in respect of the 1994                Annual                Meeting of Stockholders and incorporated herein by reference) is                hereby                incorporated by reference from Exhibit 3.1 to Century Casinos’ Annual                Report on Form 10-KSB for the fiscal year ended December 31,                1995.                                                                 |
| 3.2.2                          | Amended                and Restated Bylaws of Century Casinos, Inc., is hereby incorporated                by                reference from Exhibit 11.14 to Century Casinos’ Quarterly Report on Form                10-Q for the quarterly period ended June 30, 2002.                                                                                                                                                                                                         |
| 4.4                            | Rights                Agreement, dated as of April 29, 1999, between the Company and the                American Securities Transfer & Trust, Inc., as Rights Agent, is hereby                incorporated by reference from Exhibit 1 to Century Casinos Form                8-A dated                May 7, 1999.                                                                                                                                                                |
| 4.5                            | First                Supplement to Rights Agreement dated April 2000, between Century                Casinos,                Inc. and American Securities Transfer & Trust, Inc., as Rights Agent,                is hereby incorporated by reference from Exhibit A to Century Casinos’                Proxy Statement in respect of the 2000 Annual Meeting of                Stockholders.                                                                                |
| 4.6                            | Second                Supplement to Rights Agreement dated July 2002, between Century Casinos,                Inc. and Computershare Investor Services, Inc. as Rights Agent, is                hereby                incorporated by reference from Exhibit 11.13 to Century Casinos’ Quarterly                Report on Form 10-Q for the quarterly period ended June 30,                2002.                                                                                 |
| 10.181                         | Settlement                Agreement entered into between Gold Reef Resorts Ltd., Akani Leisure                Investments (Pty) Ltd., Akani Leisure (Silverstar Holdings) (Pty)                Ltd.,                Silver Star Development Ltd., Century Resorts Ltd., Century Casinos                West                Rand (Pty) Ltd., Novomatic AG, Century Casinos Africa (Pty) Ltd.,                Century                Casinos, Inc, and Century Casinos Management, Inc.  |
| 31.1                           | Certification                pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, Chairman                of the Board and Co Chief Executive Officer.                                                                                                                                                                                                                                                                                                                           |
| 31.2                           | Certification                pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, Vice                Chairman, Co Chief Executive Officer and President.                                                                                                                                                                                                                                                                                                                        |
| 31.3                           | Certification                pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, Senior                Vice President.                                                                                                                                                                                                                                                                                                                                                          |
| 31.4                           | Certification                pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, Chief                Accounting Officer.                                                                                                                                                                                                                                                                                                                                                       |
| 32.1                           | Certification                pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, Chairman                of the Board and Co Chief Executive Officer.                                                                                                                                                                                                                                                                                                                           |
| 32.2                           | Certification                pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, Vice                Chairman, Co Chief Executive Officer and President.                                                                                                                                                                                                                                                                                                                        |
| 32.3                           | Certification                pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, Senior                Vice President.                                                                                                                                                                                                                                                                                                                                                          |
| 32.4                           | Certification                pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, Chief                Accounting Officer.                                                                                                                                                                                                                                                                                                                                                            |