UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                   FORM 10-QSB

         ___X___  QUARTERLY  REPORT  PURSUANT  TO  SECTION  13 OR 15  (d) OF THE
                  SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED
                  MARCH 31, 1999.

         _______  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                                     84-1271317
      ------------------------                         ---------------------
      (State of incorporation)                         (IRS Employer ID No.)

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

                                 (719) 689-9100
                                 --------------
                                 (Phone Number)


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

Number of shares of common stock, $.01 par value, outstanding as of May 7, 1999:
                                   14,659,785


<PAGE>



                              CENTURY CASINOS, INC.
                                   FORM 10-QSB
                                      INDEX
                                                                     Page Number
                                                                     -----------
PART I     FINANCIAL INFORMATION

Item 1.    Financial Statements (unaudited)

           Consolidated  Balance Sheet as of March 31, 1999               3 

           Consolidated  Statements of Operations for the
           Three  Months  Ended  March  31,  1999  and 1998               4
           

           Consolidated  Statements of Comprehensive Income
           for the Three  Months  Ended  March 31, 1999 and 1998          5

           Consolidated  Condensed  Statements of Cash
           Flows for the Three  Months Ended March 31, 1999 and  1998     6

           Notes  to   Consolidated   Financial Statements                7

Item 2.    Management's Discussion and Analysis                          10

PART II    OTHER INFORMATION                                             14

           SIGNATURES                                                    15



                                     - 2 -


<PAGE>



CENTURY CASINOS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET (Unaudited)


<TABLE>
<CAPTION>

                                                                                          March 31, 1999
                                                                                         -----------------
<S>                                                                                     <C>              
ASSETS

Current Assets:
   Cash and cash equivalents                                                            $       2,619,178
   Prepaid expenses and other                                                                     817,150
                                                                                        ------------------
     Total current assets                                                                       3,436,328


Property and Equipment, net                                                                    18,269,023


Goodwill, net                                                                                  10,921,754


Other Assets                                                                                    1,315,546
                                                                                        ------------------
Total                                                                                   $      33,942,651
                                                                                        ==================

LIABILITIES AND SHAREHOLDERS'  EQUITY

Current Liabilities:
     Current portion of long-term debt                                                  $         434,708
   Accounts payable and accrued expenses                                                        2,270,171
                                                                                        ------------------
     Total current liabilities                                                                  2,704,879


Long-Term Debt, less current portion                                                           11,948,638


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;
           15,861,885 shares issued; 14,659,785 shares outstanding                                158,619
       Additional paid-in capital                                                              23,323,155
       Accumulated other comprehensive loss - foreign currency translation                        (25,983)
       Accumulated deficit                                                                     (2,892,337)
                                                                                        ------------------
                                                                                               20,563,454
       Treasury stock - 1,202,100 shares, at cost                                              (1,274,320)
                                                                                        ------------------
         Total shareholders' equity                                                            19,289,134
                                                                                        ------------------
   Total                                                                                $      33,942,651
                                                                                        ==================
</TABLE>

                 See notes to consolidated financial statements.

                                     - 3 -


<PAGE>



CENTURY CASINOS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)


<TABLE>
<CAPTION>

                                                                              For the Three Months Ended March 31,
                                                                       ---------------------------------------------------
                                                                               1999                             1998
                                                                       -------------------             -------------------
<S>                                                                    <C>                             <C>                
Operating Revenue:
 Casino                                                                $         5,086,374             $         4,279,897
 Food and beverage                                                                 210,823                         176,478
 Hotel                                                                              38,111                          11,877
 Other                                                                              17,850                          25,430
                                                                       --------------------            --------------------
                                                                                 5,353,158                       4,493,682
   Less promotional allowances                                                    (159,920)                       (148,599)
                                                                       --------------------            --------------------
              Net operating revenue                                              5,193,238                       4,345,083
                                                                       --------------------            --------------------

   Operating Costs and Expenses:
    Casino                                                                       2,123,272                       1,728,373
    Food and beverage                                                              113,577                          73,383
    Hotel                                                                           50,247                           7,428
    General and administrative                                                   1,460,033                       1,335,724
    Depreciation and amortization                                                  802,452                         766,339
                                                                       --------------------            --------------------

       Total operating costs and expenses                                        4,549,581                       3,911,247
                                                                       --------------------            --------------------

   Income from Operations                                                          643,657                         433,836
    Other income (expense), net                                                   (271,118)                         92,488
                                                                       --------------------            --------------------
   Income before Income Taxes                                                      372,539                         526,324
    Provision for income taxes (benefit)                                           183,000                        (597,000)
                                                                       --------------------            --------------------
Net Income                                                             $           189,539             $         1,123,324
                                                                       ====================            ====================

Earnings Per Share:
 Basic                                                                 $              0.01             $              0.07
                                                                       ====================            ====================
 Diluted                                                               $              0.01             $              0.07
                                                                       ====================            ====================

</TABLE>





                 See notes to consolidated financial statements.

                                     - 4 -


<PAGE>



CENTURY CASINOS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited)

<TABLE>
<CAPTION>


                                                                              For the Three Months Ended March 31,
                                                                        ---------------------------------------------------
                                                                               1999                               1998
                                                                        ---------------------              ----------------
<S>                                                                     <C>                                <C>                
 Net Income                                                             $             189,539              $      1,123,324
 Foreign currency translation adjustments                                             (10,675)                      (13,067)
                                                                        ---------------------              ----------------
 Comprehensive Income                                                   $             178,864              $      1,110,257
                                                                        =====================              ================

</TABLE>

       See notes to consolidated financial statements.

                                     - 5 -


<PAGE>



CENTURY CASINOS, INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited)

<TABLE>
<CAPTION>


                                                                                  For the Three Months Ended March 31,
                                                                            ---------------------------------------------------
                                                                                     1999                         1998
                                                                            ----------------------        ---------------------


<S>                                                                         <C>                           <C>                 
Cash provided by operations                                                 $              734,252        $          1,224,609
                                                                            ----------------------        ---------------------

Cash provided by investing activities                                                     415,016                      222,300
                                                                            ----------------------        ---------------------

Cash used in financing activities                                                        (705,694)                  (1,388,943)
                                                                            ----------------------        ---------------------

Increase in cash and cash equivalents                                                     443,574                       57,966


Cash and cash equivalents at beginning of period                                        2,175,604                    4,227,978
                                                                            ----------------------        ---------------------


Cash and cash equivalents at end of period                                  $           2,619,178         $          4,285,944
                                                                            ======================        =====================




Supplemental Disclosure of Cash Flow Information:

   Interest  paid by the Company was  $252,697 and $296,828 for the three months
   ended March 31, 1999 and 1998.  

   Income taxes paid by the Company were $12,000
   and $59,345 for the three months ended March 31, 1999 and 1998.
</TABLE>


                 See notes to consolidated financial statements.


                                     - 6 -


<PAGE>



CENTURY CASINOS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)



1.       DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION

         Century Casinos,  Inc. and subsidiaries (the "Company") own and operate
         a  limited-stakes  gaming casino in Cripple  Creek,  Colorado,  and are
         pursuing a number of additional  gaming  opportunities  internationally
         and in the  United  States.  Prior  to  July  1,  1996,  the  Company's
         operations  in Cripple  Creek,  Colorado,  consisted of Legends  Casino
         ("Legends"),  which the Company  acquired on March 31, 1994,  through a
         merger  with  Alpine  Gaming,  Inc.  ("Alpine").  On July 1, 1996,  the
         Company acquired the net assets of Gold Creek  Associates,  L.P. ("Gold
         Creek"),  the owner of  Womack's  Saloon & Gaming  Parlor  ("Womacks"),
         which is  immediately  adjacent to  Legends.  Following  the  Company's
         acquisition of Womacks,  interior  renovations  were undertaken on both
         properties  to  facilitate  the operation and marketing of the combined
         properties as one casino under the name Womacks/Legends Casino.
    

         The accompanying  consolidated  financial  statements and related notes
         have been prepared in accordance  with  generally  accepted  accounting
         principles for interim financial reporting and the instructions to Form
         10-QSB  and  Item  310(b)  of  Regulation  S-B.  Accordingly,   certain
         information  and footnote  disclosures  normally  included in financial
         statements  prepared in accordance with generally  accepted  accounting
         principles   have  been  condensed  or  omitted.   In  the  opinion  of
         management,  all  adjustments  (consisting  of  only  normal  recurring
         accruals)  considered  necessary  for fair  presentation  of  financial
         position,  results of  operations  and cash  flows have been  included.
         These consolidated  financial  statements should be read in conjunction
         with  the  financial  statements  and  notes  thereto  included  in the
         Company's  Annual Report on Form 10-KSB for the Year Ended December 31,
         1998.

2.       INCOME TAXES

         The income tax  provision  for the quarter  ended March 31,  1999,  was
         based on estimated  full-year income for financial  reporting  purposes
         adjusted  for   permanent   differences,   which   comprise   primarily
         nondeductible   goodwill   amortization   resulting   from  the  Alpine
         acquisition.  The income tax benefit of $597,000  for the three  months
         ended  March  31,  1998  consisted  of (a) a  nonrecurring  benefit  of
         $815,000  resulting  from  the  reversal  of  the  valuation  allowance
         previously  provided against the Company's net deferred tax assets; and
         (b) a provision of $218,000,  based upon estimated full-year income for
         financial  reporting  purposes  adjusted  for  permanent   differences,
         primarily nondeductible goodwill amortization.








                                     - 7 -


<PAGE>



3.       EARNINGS PER SHARE

         Basic and diluted  earnings  per share for the three months ended March
         31, 1999 and 1998 were computed as follows:
<TABLE>
<CAPTION>

                                                                          For the Three Months Ended March 31,
                                                                     --------------------------------------------------
                                                                              1999                        1998
                                                                     ----------------------       ---------------------


<S>                                                                  <C>                          <C>                
Basic Earnings Per Share:
 Net income                                                          $             189,539        $          1,123,324
                                                                     ======================       =====================
                                                                                                  
 Weighted average common shares                                                 14,667,285                  15,790,013
                                                                     ======================       =====================
                                                                                                  
 Basic earnings per share                                            $                0.01        $               0.07
                                                                     ======================       =====================

Diluted Earnings Per Share:
   Net income, as reported                                           $             189,539        $          1,123,324
     Interest expense, net of income taxes, 
       on convertible debenture                                                                                  8,412
                                                                     ----------------------       ---------------------
 Net income available to common shareholders                         $             189,539        $          1,131,736
                                                                     ======================       =====================

 Weighted average common shares                                                 14,667,285                  15,790,013
    Assumed issuance of contingent shares                                                                      710,295
    Effect of dilutive securities:

        Convertible debenture                                                                                  271,739

        Stock options and warrants                                                 154,898                      70,252
                                                                     ----------------------       ---------------------
 Dilutive potential common shares                                               14,822,183                  16,842,299
                                                                     ======================       =====================

 Diluted earnings per share                                          $                0.01        $               0.07
                                                                     ======================       =====================

 Excluded from  computation  of diluted  earnings per share 
   Due to  antidilutive effect:
        Options and warrants to purchase common shares                           5,166,009                   5,913,581
        Weighted average exercise price                              $                1.96        $               2.02

</TABLE>

         The convertible debenture would have had an antidilutive effect for the
         three months ended March 31, 1999 and  therefore  was excluded from the
         calculation.

         The Company's  obligation  related to the contingently  issuable shares
         reflected  in the  calculation  of dilutive  earnings per share for the
         three months ended March 31, 1998, was  renegotiated and settled in the
         second  quarter of 1998  through a  combination  of a cash  payment and
         issuance of an unsecured note.

4.       PURCHASE OPTION ON CRIPPLE CREEK PROPERTY

         On March 25, 1999 the Company entered into a purchase option  agreement
         for a property in Cripple Creek,  Colorado,  situated across the street
         from its  Womacks/Legends  Casino  on  Bennett  Avenue.  The  agreement
         provides for payments of up to $50,000 over 24 months.  The Company may
         exercise  its option to purchase  the  property at any time during that
         period for a price of $1,500,000, less 50% of cumulative monthly option
         payments.


                                     - 8 -
<PAGE>

5.       PRAGUE, CZECH REPUBLIC

         In March  1999,  Casino  Millennium  a.s.  received  a license  for the
         operation  of a casino in Prague,  Czech  Republic.  Through  March 31,
         1999,  the Company  had made  deposits  towards the  purchase of gaming
         equipment totaling $750,000,  with approximately  $750,000 remaining to
         be funded prior to opening.  The Company has a 20-year  agreement  with
         Casino Millennium a.s. to provide casino management services for 10% of
         the casino's gross revenue and to provide certain gaming  equipment for
         45% of the casino's net profit.  The opening of the hotel and casino is
         currently scheduled, subject to change, for the summer of 1999.

6.       EMPLOYEES' EQUITY INCENTIVE PLAN

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

7.       EVENT SUBSEQUENT TO MARCH 31, 1999

         In April 1999,  the terms of an  unsecured  note  payable to a founding
         shareholder were amended.  The previously existing principal balance of
         $420,360, plus accrued interest of approximately $60,000, were combined
         into a new principal amount of $480,000.  The Company concurrently made
         a principal repayment of $100,000.  The remaining principal of $380,000
         bears interest at 6%, payable quarterly. The noteholder, at his option,
         may elect to receive any or all of the unpaid  principal  by  notifying
         the Company on or before April 1 of any year.  Payment of the principal
         amount so  specified  would be  required  by the  Company  on or before
         January 1 of the following  year. The entire  outstanding  principal is
         otherwise  due and  payable  on  April  1,  2004.  Accordingly,  in the
         accompanying  consolidated balance sheet at March 31, 1999, $100,000 of
         principal  is  classified  as  a  current  liability  and  $380,000  is
         classified as noncurrent.


                                     - 9 -


<PAGE>



Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS

Forward-Looking Statements, Business Environment and Risk Factors

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

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

The Company  cautions  the reader that a number of important  factors  discussed
herein, and in other reports filed with the Securities and Exchange  Commission,
could affect the  Company's  actual  results and cause actual  results to differ
materially from those discussed in forward-looking statements.

Results of Operations

Three Months Ended March 31, 1999 vs. 1998
Net operating revenue for the first quarter of 1999 was $5,193,238 compared with
$4,345,083 for the same period in 1998, an increase of 19.5%. Casino revenue for
Womacks/Legends  Casino increased from $4,245,653 in 1998 to $5,086,374 in 1999.
The increase in casino revenue was due to a combination of  improvements  in the
mix of slot machine denominations and the unusually mild weather during the 1999
period.  The casino's  share of the Cripple Creek market was 18.9% for the first
quarter of 1999  compared  with  17.4% a year  earlier.  Womacks/Legends  Casino
operated  15.0% of the slot machines in the Cripple Creek market and achieved an
average  daily win per machine of $95 versus the Cripple  Creek  average of $75.
Gross margin for the Company's  casino  activities  decreased  slightly to 58.3%
from 59.6% a year earlier,  due  principally  to a higher  effective  gaming tax
rate. The difference in the effective gaming tax rate, year over year,  resulted
from a higher revenue base in 1999, the graduated gaming tax rate structure, and
a change in the taxing authority's fiscal year which provided a one-time benefit
in 1998.  The Company also earned  $34,244 of casino  revenue in the 1998 period
from a cruise ship  concession  agreement  that expired in early 1998.  

Food and beverage  revenue  increased 19.5% to $210,823,  which was commensurate
with the increase in casino revenue.  The cost of food and beverage  promotional
allowances,  which is included in casino costs,  increased to $211,420  compared
with $201,727 in the prior year.  The increase in hotel  revenue and  associated
costs is a result of the casino's marketing  arrangement with a local hotel that
commenced in late 1998. 


                                     - 10 -
<PAGE>

General and  administrative  expense as a percentage of
net  operating  revenue was 28.1% for the first  quarter of 1999  compared  with
30.7% in 1998.  The  decrease  was  primarily  due to lower  travel costs and no
relocation  costs,  which were incurred in 1998 in  connection  with closing the
Company's Colorado Springs offices.  

Depreciation  expense  increased to $467,076 in the 1999 period from $430,963 in
1998,  primarily due to the addition of new machines and ongoing improvements to
Womacks/Legends  Casino,  while  amortization of goodwill remained  unchanged at
$335,376 for both periods.

Other expense,  net, for the first quarter of 1999 comprised $14,748 of interest
income,  $251,199 of  interest  expense,  a loss of $2,540 from the  disposal of
fixed assets,  and  amortization of deferred  financing costs of $32,127.  Other
income, net, for the first quarter of 1998 comprised $31,915 of interest income,
$220,521  of  interest  expense,  a gain of $49,436  from the  disposal of fixed
assets,  amortization of deferred financing costs of $24,470, a gain of $550,000
from a terminated  management  agreement,  an impairment loss of $196,022 for an
equity  investment  in South  Africa,  and a writeoff  of  $97,850  of  expiring
supplier trade credits.

The income tax  provision  for the quarter  ended March 31,  1999,  was based on
estimated  full-year  income  for  financial  reporting  purposes  adjusted  for
permanent   differences,   which  comprise  primarily   nondeductible   goodwill
amortization  resulting from the Alpine  acquisition.  The income tax benefit of
$597,000  for  the  three  months  ended  March  31,  1998  consisted  of  (a) a
nonrecurring  benefit of $815,000  resulting  from the reversal of the valuation
allowance previously provided against the Company's net deferred tax assets; and
(b) a provision of $218,000, based upon estimated full-year income for financial
reporting purposes adjusted for permanent differences,  primarily  nondeductible
goodwill amortization.


Liquidity and Capital Resources

Cash and cash equivalents  totaled $2,619,178 at March 31, 1999, and the Company
had net working capital of $731,449. Additional liquidity may be provided by the
Company's  revolving  credit facility ("RCF") with Wells Fargo Bank, under which
the Company had unused borrowing capacity of approximately $9.5 million at March
31, 1999. For the three months ended March 31, 1999, cash provided by operations
was  $734,252  compared  with  $1,224,609  in the  prior-year  period,  with the
decrease  principally due to a higher current tax provision in the current year.
Cash provided by investing  activities of $415,016 for the first quarter of 1999
included net  redemptions of short-term  investments  of  $1,038,496,  partially
offset by fixed asset purchases and equipment  deposits.  Cash used in financing
activities for the current quarter  consisted of net repayments of borrowings of
$668,213 and  repurchases of outstanding  common stock in the amount of $37,481.


On March 25, 1999 the Company  entered into a purchase  option  agreement  for a
property  in Cripple  Creek,  Colorado,  situated  across  the  street  from its
Womacks/Legends Casino on Bennett Avenue. The agreement provides for payments of
up to $50,000  over 24 months.  The Company may  exercise its option to purchase
the property at any time during that period for a price of $1,500,000,  less 50%
of cumulative  monthly  option  payments.  Management  believes the property has
strategic  value either by allowing the Company to expand its own  operations or
by  limiting  the  expansion  efforts  of  competitors.  

In March 1999,  Casino Millennium a.s. received a license for the operation of a
casino in Prague,  Czech Republic.  Through March 31, 1999, the Company had made
deposits  towards  the  purchase of gaming  equipment  totaling  $750,000,  with
approximately  $750,000  remaining  to be funded  prior to opening.  The Company
expects  to fund the  remaining  capital  commitment  through a  combination  of
operating cash flows and existing liquidity. The Company has a 20-year agreement
with Casino Millennium a.s. to provide casino management services for 10% of the
casino's gross revenue and to provide  certain  gaming  equipment for 45% of the
casino's net profit. The opening of the hotel and casino is currently scheduled,
subject to change, for the summer of 1999.


                                     - 11 -
<PAGE>

On April 21,  1998,  the  Gauteng  Gambling  and  Betting  Board  (the  "Board")
announced  the award of the  remaining  two gaming  licenses for the province of
Gauteng,   South  Africa,   which  includes  the  major  metropolitan  areas  of
Johannesburg  and Pretoria.  Silverstar  Development  Ltd.  ("Silverstar"),  the
consortium to which the Company is the contracted casino management partner, and
in which  the  Company  holds a  minority  equity  interest,  had  submitted  an
application  for a proposed $70  million,  1,700  gaming  position  hotel/casino
resort development.  Silverstar was not awarded one of the licenses. The Company
recorded  an  impairment  allowance  against  its entire  equity  investment  in
Silverstar in the amount of $196,022, which was included in "other expense, net"
in the accompanying statement of operations for the three months ended March 31,
1998.  Silverstar  subsequently  filed a legal action with the Supreme  Court of
South Africa (the "Supreme Court") challenging the decision of the Board and the
provincial  government in their failure to award a casino  license to Silverstar
on the grounds that the decision-making  process was legally deficient. On March
11, 1999, the Supreme Court  overturned the previous license award that had been
sought by  Silverstar,  and  remanded  the  licensing  process for the West Rand
region to the provincial  government.  The competing license applicant  appealed
the ruling,  but on April 15, 1999,  the Supreme Court  rejected the request for
leave to appeal its March  ruling.  This  defendant may make a final request for
leave to appeal with the Appeals Court, the final court of appeal. The Company's
legal  advisors  believe  that a decision  by the  Appeals  Court to grant or to
refuse  final  leave to appeal  would then be made  approximately  three  months
thereafter.  A final  decision  to  refuse  leave  to  appeal  would  allow  the
provincial  government to redetermine its previous adjudication of the remaining
license that Silverstar seeks. While there can be no certainty as to the outcome
of any future  adjudication  regarding the award of the license,  Silverstar and
Century remain confident as to the merits of their application.

Management  believes that the Company's  working  capital  position at March 31,
1999,  together with expected cash flow from  operations and borrowing  capacity
under its  revolving  credit  facility,  will be  adequate  to satisfy  its debt
repayment  obligations,  meet its anticipated  capital  expenditures  and pursue
additional business growth opportunities for the foreseeable future.

Year 2000 Compliance

The   inability   of   computers,   software  and  other   equipment   utilizing
microprocessors  to  recognize  and properly  process  data fields  containing a
two-digit  year is  generally  referred to as the Year 2000  ("Y2K")  compliance
issue.  As the year 2000  approaches,  such systems may be unable to  accurately
process  certain  date-based  or  date-sensitive  information.  The  Company  is
presently  implementing its plan to ensure Y2K compliance.  The Company believes
that it has identified all software applications, hardware components, equipment
and  third-party  vendors that could pose  potential Y2K problems.  

Computerized Systems and Components

The computerized  systems of most significance to the Company's ongoing business
operations  are  those  that  involve  slot   reporting,   player  tracking  and
accounting.  Those systems rely primarily on hardware and software obtained from
third-party  vendors. The Company has contacted the respective vendors for these
systems and has received written confirmation that the software applications and
related  hardware  components  currently  in  use  for  those  systems  are  Y2K
compliant.  Certain of these systems and components  were upgraded  during 1998.
The  Company did not incur any  significant  incremental  costs in making  these
systems Y2K compliant.


                                     - 12 -
<PAGE>

Non-IT-Dependent Systems and Equipment

The Company  uses in its business  certain  systems and  equipment  that contain
embedded  technology  ("non-IT  dependent  systems")  such as electronic  gaming
devices,  security and surveillance equipment,  copiers and fax machines,  alarm
systems and voicemail  systems,  among others.  The most significant of these to
the Company's  operations are electronic gaming devices,  from which the Company
derives  in  excess  of 95% of its  net  operating  revenue.  Based  on  written
responses from its vendors,  the Company believes that  substantially all of the
electronic gaming devices  presently being used in the Company's  operations are
Y2K  compliant.  The Company has tested its  security and  surveillance  systems
internally   and  determined   that  they  are  Y2K  compliant.   The  remaining
non-IT-dependent  systems  and  equipment  are not  considered  critical  to the
Company's operations. Through its own evaluation or contact with the appropriate
vendors, the Company has determined that the majority of these remaining systems
and  equipment are Y2K  compliant.  Management  believes  that  non-IT-dependent
systems and equipment that have not yet been fully  evaluated for Y2K compliance
would not have a material  adverse  effect on the  Company's  operations  in the
event of non-Y2K  compliance.  

Third-Party  Service  Providers  

The Company has  identified and contacted  certain  primary  service  providers,
including its banks and payroll processor,  to determine whether their potential
Y2K problems could have a material  adverse  effect on the Company.  The Company
has received  responses  that they are  generally  on schedule to achieving  Y2K
compliance.  The Company can make no assurances,  however,  that these providers
will, in fact, become Y2K compliant on a timely basis. The Company relies on its
banks  principally to provide working capital and to process  transactions.  The
failure of the  Company's  banks to provide these  services  would likely have a
material adverse effect on the Company's day-to-day operations.  The Company has
not yet developed a contingency plan to address any Y2K-related  failures by its
banks.  With  respect to payroll  processing,  the  Company  estimates  that the
incremental cost to process its payroll in-house would be approximately  $75,000
on an annual basis. The Company has not,  however,  developed a contingency plan
to process  its  payroll  in-house.  The  Company  will  continue to monitor the
progress of its banks and its payroll  processor in addressing  their  potential
Y2K problems,  and will consider whether to develop and test  contingency  plans
based on the extent of their reported progress.

The ability of the Company to conduct its  operations  is also  dependent on the
provision  of  certain  services  such  as  electricity,   water,  natural  gas,
telecommunications  and the like by third parties,  where there is limited or no
choice of alternative  suppliers.  Failures by such third-party  suppliers would
have a material adverse effect on the Company's  operations.  The Company cannot
reasonably estimate the likelihood of Y2K-related failures by these suppliers to
provide  their  services.  The Company  does not believe  that it is feasible to
develop or test contingency plans to cope with possible  Y2K-related failures by
these third parties.

Current Status 

Since the filing of the Company's  Form 10-K on March 18, 1999,  the Company has
received no substantial  new  information  from  third-party  service  providers
regarding  their  progress  towards Y2K  readiness,  but that their  efforts are
ongoing.  With the exception of certain  services on which the Company relies as
described in the preceding two  paragraphs,  the Company's  information  at this
time does not indicate that Y2K compliance  issues will have a material  adverse
effect upon the financial condition or results of operations of the Company. The
Company's  incremental  cost of its Y2K compliance  program to date has not been
significant and incremental  costs to be incurred by the Company to complete its
Y2K  compliance  program  are not  expected to be  significant.  There can be no
assurance, however, that the cost of Y2K compliance might not become material as
the Company's study progresses and more information becomes available.


                         * * * * * * * * * * * * * * * *

                                     - 13 -
<PAGE>

PART II

OTHER INFORMATION

Item 1. - Legal Proceedings

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

Item 6. - Exhibits and Reports on Form 8-K

     (a) Exhibits - The following exhibit is filed herewith:

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

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

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

         27       Financial Data Schedule

     (b) Reports on Form 8-K:

         No reports on Form 8-K were filed during the quarter ended 
         March 31, 1999.

                                  * * * * * * *



                                     - 14 -


<PAGE>





SIGNATURES:

Pursuant to the Securities  Exchange Act of 1934, the Registrant has duly caused
this  report to be  signed  on its  behalf  by the  undersigned  thereunto  duly
authorized.

CENTURY CASINOS, INC.

/s/  Brad Dobski
---------------------------
Brad Dobski
Vice President - Finance,
  Chief Accounting Officer 
  and duly authorized officer

Date: May 10, 1999


                                     - 15 -