PROMISSORY NOTE


                                                         Cripple Creek, Colorado
$390,000.00 Amount                                                April 30, 1998


     This  PROMISSORY  NOTE (this  "Note") is  executed  this 30th day of April,
1998, by Century Casinos, Inc., a Delaware corporation ("Maker"),  whose address
is 200-220 East Bennett Avenue,  Cripple Creek, Colorado 80813, in favor of Gary
Y. Findlay ("Holder"), whose legal address is 3236 Electra Drive South, Colorado
Springs, Colorado 80906.

          Promise to Pay. For value  received,  Maker hereby  promises to pay to
     the order of Holder the principal sum of  $390,000.00Amount,  together with
     interest thereon at a rate equal to 8.75% per annum ("Interest  Rate"), all
     in lawful money of the United  States of America  which  constitutes  legal
     tender for payment of debts, public and private, at the time of payment.

          Maturity Date. The "Maturity Date" shall mean July 1, 2001.

          Payment  Schedule.  Payments of interest and  principal for a total of
     $8,049.00  shall be payable  monthly  beginning on July 1, 1998 through and
     including June 1, 2001 in accordance  with Exhibit 1. The entire  remaining
     outstanding principal balance of this Note, totaling $176, 618.00, together
     with  all  accrued  but  unpaid  principal  and  interest,  shall,  if  not
     previously paid, be finally due and payable on the Maturity Date.

          Prepayment  Privilege.  Maker shall have the right to prepay this Note
     at any time prior to the Maturity Date without penalty.

          Application of Payments. All payments hereunder shall be applied first
     to the payment of accrued  and unpaid  interest  on the  principal  of this
     Note,  including  interest  accrued  at the  Default  Rate  as  hereinafter
     provided, and second to the reduction of principal of this Note.

          Default.  Each of the following shall constitute an "Event of Default"
     under this Note:

               The failure of Maker to pay in full any amount due  hereunder  by
          the date the same is due, as provided  herein,  and such failure shall
          continue for 10 days after written notice from Holder to Maker of such
          failure,  or Maker's  failure to pay in full any amount due  hereunder
          upon maturity of this Note, by acceleration or otherwise; or

               The  failure of Maker to  perform,  satisfy  and observe in full,
          when  due,  any  of  the   obligations,   covenants,   conditions  and
          restrictions  under this Note, not involving the payment of money, and
          such  failure  shall  continue for 30 days after  written  notice from
          Holder to Maker of such failure,  or if said failure cannot reasonably
          be cured within said 30-day  period,  Maker shall not have pursued the
          cure  with   reasonable   diligence   and   shall   not   have   cured



0175950.01

<PAGE>





          such failure  within a reasonable  time after the written  notice from
          Holder to Maker described above.

               Right to Accelerate on Event of Default.  Upon the  occurrence of
          any Event of Default  hereunder,  the Interest  Rate on the  principal
          amount of this Note then due and payable shall accrue at 12% per annum
          ("Default  Rate"),  and  the  entire  balance  of  principal,  accrued
          interest,  and any other sums owing hereunder  shall, at the option of
          Holder, become at once due and payable without prior notice or demand.

               Waivers of Demand,  etc.  Maker and all parties now or  hereafter
          liable for the payment hereof,  primarily or secondarily,  directly or
          indirectly, and whether as endorser,  guarantor, surety, or otherwise,
          severally waive demand, presentment, notice of dishonor or nonpayment,
          protest  and notice of  protest,  and  diligence  in  collecting,  and
          consent to extensions  of time for payment,  renewals of this Note and
          acceptance of partial payments, whether before, at, or after maturity,
          all or any of which may be made without  notice to any of said parties
          and without affecting their liability to Holder.

               Costs of  Collection.  Maker  and all  parties  now or  hereafter
          liable for the payment  hereof agree  jointly and severally to pay all
          costs and expenses,  including reasonable attorneys' fees, incurred in
          collecting this Note or any part thereof.

               No  Usury  Payable.  The  provisions  of  this  Note  and  of all
          agreements  between Maker and Holder are hereby  expressly  limited so
          that in no contingency or event  whatsoever  shall the amount paid, or
          agreed to be paid, to Holder for the use, forbearance, or retention of
          the Loan Amount  ("Interest")  exceed the maximum  amount  permissible
          under  applicable  law.  If,  from any  circumstance  whatsoever,  the
          performance  or  fulfillment  of any provision  hereof or of any other
          agreement  between Maker and Holder shall, at the time  performance or
          fulfillment  of such  provision  shall be due,  exceed  the  limit for
          Interest  prescribed by law,  then,  ipso facto,  the obligation to be
          performed  or fulfilled  shall be reduced to such limit,  and if, from
          any circumstance whatsoever, Holder should ever receive as Interest an
          amount  which would exceed the highest  lawful rate,  the amount which
          would be excessive  Interest  shall be applied to the reduction of the
          principal  balance owing hereunder (or, at Holder's  option,  or if no
          principal shall be outstanding,  be paid over to Maker) and not to the
          payment of Interest.

               Severability of Provisions.  If any provision  hereof shall,  for
          any reason and to any extent,  be invalid or  unenforceable,  then the
          remainder of the instrument in which such provision is contained,  the
          application   of  the   provision  to  other   persons,   entities  or
          circumstances,  and any other instrument  referred to herein shall not
          be affected  thereby but instead shall be  enforceable  to the maximum
          extent permitted by law.

               Successors  to Maker or Holder.  The term  "Maker" as used herein
          shall  include the  original  maker of this Note and any party who may
          subsequently  become primarily liable for the payment hereof. The term
          "Holder" as used herein shall mean the original payee of this Note or,
          if this Note is  transferred,  the then holder of this Note,  provided
          that, until written notice is given to Maker designating another party
          as Holder,  Maker may consider the Holder to be the original  payee or
          the party last designated as Holder in a written notice to Maker.



0175950.01

<PAGE>


               Notices.   All   notices,   consent  or  other   instruments   or
          communications  provided  for  under  this Note  shall be in  writing,
          signed by the party  giving  the  same,  and shall be deemed  properly
          given and  received  when  actually  delivered  and  received or three
          business days after mailed,  if sent by registered or certified  mail,
          postage  prepaid,  to the address set forth in the first  paragraph of
          this  Note,  or to such  other  address  as a party may  designate  by
          written notice to the other party.

               Captions for Convenience. The captions to the Sections hereof are
          for convenience  only and shall not be considered in interpreting  the
          provisions hereof.

               Governing  Law.  Regardless of the place of its  execution,  this
          Note shall be construed  and enforced in  accordance  with the laws of
          the State of Colorado.

                                     MAKER:

                                     CENTURY CASINOS, INC.


                                     By: /s/ Norbert Teufelberger
                                             -----------------------------------
                                       Name: Norbert Teufelberger
                                      Title: Director and Secretary_


0175950.01

<PAGE>

                             Century Casinos, Inc.
                             Amortization Schedule
                           G. Findlay Promissory Note
                              Dated April 30, 1998

Loan Amount:        $ 390,000.00
Interest:                   8.750%
Pmt:                $   8,048.52
Amortization term          60
Balloon on 7/1/01   $ 176,618
<TABLE>
<CAPTION>

              Jul-98    Aug-98    Sep-98    Oct-98    Nov-98     Dec-98    Jan-99    Feb-99    Mar-99     Apr-99    May-99    Jun-99

<S>         <C>       <C>       <C>       <C>       <C>        <C>       <C>       <C>       <C>        <C>       <C>       <C>     
Payment #          1         2         3         4         5          6         7         8         9         10        11        12
Principal   5,204.77  5,242.72  5,280.95  5,319.46  5,358.25   5,397.32  5,436.67  5,476.31  5,516.24   5,556.47  5,596.98  5,637.79
Interest    2,843.75  2,805.80  2,767.57  2,729.06  2,690.28   2,651.21  2,611.85  2,572.21  2,532.28   2,492.05  2,451.54  2,410.73
           -------------------------------------------------------------------------------------------------------------------------
Total       8,048.52  8,048.52  8,048.52  8,048.52  8,048.52   8,048.52  8,048.52  8,048.52  8,048.52   8,048.52  8,048.52  8,048.52

Remaining Principal

             384,795   379,553   374,272   368,952   363,594    358,197   352,760   347,284   341,767    336,211   330,614   324,976


              Jul-99    Aug-99    Sep-99    Oct-99    Nov-99     Dec-99    Jan-00    Feb-00    Mar-00     Apr-00    May-00    Jun-00

Payment #         13        14        15        16        17         18        19        20        21         22        23        24
Principal   5,678.90  5,720.31  5,762.02  5,804.04  5,846.36   5,888.99  5,931.93  5,975.18  6,018.75   6,062.64  6,106.85  6,151.37
Interest    2,369.62  2,328.21  2,286.50  2,244.48  2,202.16   2,159.53  2,116.59  2,073.34  2,029.77   1,985.88  1,941.68  1,897.15
           -------------------------------------------------------------------------------------------------------------------------
Total       8,048.52  8,048.52  8,048.52  8,048.52  8,048.52   8,048.52  8,048.52  8,048.52  8,048.52   8,048.52  8,048.52  8,048.52

Remaining Principal

             319,297   313,577   307,815   302,011   296,164    290,275   284,344   278,368   272,350    266,287   260,180   254,029


              Jul-00    Aug-00    Sep-00    Oct-00    Nov-00     Dec-00    Jan-01    Feb-01    Mar-01     Apr-01    May-01    Jun-01

Payment #         25        26        27        28        29         30        31        32        33         34        35        36
Principal   6,196.23  6,241.41  6,286.92  6,332.76  6,378.94   6,425.45  6,472.30  6,519.50  6,567.03   6,614.92  6,663.15  6,711.74
Interest    1,852.29  1,807.11  1,761.60  1,715.76  1,669.58   1,623.07  1,576.22  1,529.02  1,481.49   1,433.60  1,385.37  1,336.78
           -------------------------------------------------------------------------------------------------------------------------
Total       8,048.52  8,048.52  8,048.52  8,048.52  8,048.52   8,048.52  8,048.52  8,048.52  8,048.52   8,048.52  8,048.52  8,048.52

Remaining Principal

             247,832   241,591   235,304   228,971   222,592    216,167   209,695   203,175   196,608    189,993   183,330   176,618


                                                    Principal payments due:

                                                    1998          31,803
                                                    1999          67,921
                                                    2000          74,108
                                                    2001         216,167
                                                              ----------
                                                                 390,000
                                                              ==========
</TABLE>