**Exhibit      10.180**
**SETTLEMENT        AGREEMENT**

**Parties**

**GOLD        REEF RESORTS LIMITED**

**GRR**

**AKANI        LEISURE INVESTMENTS (PROPRIETARY) LIMITED**

**ALI**

**AKANI        LEISURE (SILVERSTAR HOLDINGS) (PROPRIETARY) LIMITED**

**AL-SH**

**SILVER        STAR DEVELOPMENT LIMITED**

**Silverstar**

**CENTURY        RESORTS LIMITED**

**Century        Resorts**

**CENTURY        CASINOS WEST RAND (PROPRIETARY) LIMITED**

**CCWR**

**NOVOMATIC        AG**

**Novomatic**

**CENTURY        CASINOS AFRICA (PROPRIETARY) LIMITED**

**CCA**

**CENTURY        CASINOS, INCORPORATED**

**Century        Inc**

**CENTURY        CASINOS MANAGEMENT, INCORPORATED**

**Century        Management Inc**

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**WHEREBY        IT IS AGREED AS FOLLOWS:**

| **1.** | **INTERPRETATION                  AND PRELIMINARY** |
|--------|-----------------------------------------------------|

|   | 1.1. | “**Century                  Companies**”                  means collectively Century Resorts, CCWR, Novomatic, CCA, Century                  Inc and                  Century Management Inc, and includes an individual reference to                  any one or                  more of them as the context may                  require; |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.2. | “**Century                  Group**”                  means collectively the Century Companies and each of their subsidiaries                  and each of the Century Companies’ holding companies and such holding                  companies’ subsidiaries from time to time and includes an individual                  reference to any one or more of them as the context may                  require; |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.3. | “**Da                  Silva**”                  means Jose Garcia Sequeira da Silva (Identity                  No. 571031 5115 088); |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.4. | "**Date                  Of Signature Hereof**"                  means the date of the last signature of this                  agreement; |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.5. | “**GRR                  Companies**”                  means collectively GRR, ALI, AL-SH and Silverstar, and includes                  an                  individual reference to any one or more of them as the context                  may                  require; |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.6. | “**GRR                  Group**”                  means collectively the GRR Companies and each of their subsidiaries                  and                  each of the GRR Companies’ holding companies and such holding companies’                  subsidiaries from time to time and includes an individual reference                  to any                  one or more of them as the context may                  require; |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.7. | “**Management                  Agreements**”                  means collectively - |
|--------|------|-----------------------------------------------------------------------------------------------------|

|   | 1.7.1. | the                  agreement titled “Equity Contribution Agreement” entered into between                  Silverstar and CCA on or about 18 October                  1996; |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.7.2. | the                  agreement titled “Agreement” entered into between Silverstar and CCA on or                  about 18 October 1996; |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.7.3. | the                  agreement titled “Casino Management Agreement” entered into between                  Silverstar and CCWR (cited as being then a “to-be-formed” company) on or                  about 18 October 1996; |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.7.4. | the                  agreement titled “Agreement By And Between Silverstar Development Limited                  And Century Casinos West Rand (Pty) Limited” entered into between                  Silverstar and CCWR on or about 24 August 1999;                  and |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.7.5. | the                  agreement titled “Governing Agreement between SDL & JdS & CCA                  & CCWR December 30, 2003” entered into between Silverstar, Da Silva,                  CCA and |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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*inter        alia*

|   | 1.7.6. | all                  agreements amending, superseding or reinstating (in that the agreement                  being “reinstated” is void or has terminated and a new agreement is                  concluded on the same or similar terms) any of the agreements described                  in                  paragraphs 1.7.1                  to                  1.7.5                  above; and |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.7.7. | all                  and any other agreements concluded at any time prior to the Date                  Of                  Signature Hereof between, *inter                  alia*,                  Silverstar and any members of the Century Group whether relating                  or                  referring to any of the agreements described in                  paragraphs 1.7.1                  to 1.7.5                  above or relating or referring to the subject matter in such agreements                  or                  relating to any other subject matter whatsoever (including, without                  limitation, relating to the management, operation or development                  of                  Silverstar’s casino or to any loans); but |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.7.8. | specifically                  excluding the Verkrans Agreement; |
|--------|--------|-----------------------------------------------------------------|

|   | 1.8. | “**Novomatic                  Sold Claims**”                  means all claims of whatsoever nature and howsoever arising which                  Novomatic may have against Silverstar on the Implementation                  Date; |
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|   | 1.9. | “**Novomatic                  Sold Shares**”                  means all of the shares owned by Novomatic in the issued share                  capital of                  Silverstar, being at least 80 (eighty) ordinary                  shares; |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.10. | “**Option                  Agreements**”                  means collectively the 3 (three) agreements each titled “Option Agreement”                  and concluded on or about 1 December 2004 and respectively entered                  into between: (a) GRR, ALI, Silverstar, Century Resorts and Century                  Inc;                  (b) GRR, ALI, Silverstar and CCWR; and (c) GRR, ALI, Silverstar                  and                  Novomatic; |
|--------|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.11. | “**Verkrans                  Agreement**”                  means the agreement titled “Agreement” entered into between Silverstar,                  Verkrans Ontwikkelings Maatskappy (Proprietary) Limited (Registration                  No. 1971/013858/07) and CCA on 1 December 2004. |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **2.** | **RECORDAL** |
|--------|--------------|

*inter        alia*

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**3.**
**SETTLEMENT        OF DISPUTE**

**    Sale        Of The        Novomatic **
**Sold        Shares And The Novomatic Sold Claims**

|   | 3.1. | Novomatic                  hereby sells the Novomatic Sold Shares and the Novomatic Sold Claims                  to                  GRR and ALI, who hereby purchase same in equal shares on the Date                  Of                  Signature Hereof for a purchase price of R4 109 625,00 (four                  million one hundred and nine thousand six hundred and twenty five                  rand).                  The purchase price is payable by GRR and ALI to Novomatic on                  27 September 2006 (the “**Implementation                  Date**”)                  against compliance by Novomatic with its obligations in                  clause 3.2,                  to be paid by bank guaranteed                  cheque. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.2. | The                  Century Companies shall deliver the Novomatic Sold Shares and the                  Novomatic Sold Claims to GRR and ALI on the Implementation Date                  (from                  which date ownership of and risk and benefit to the Novomatic Sold                  Shares                  and the Novomatic Sold Claims shall pass to GRR and ALI), against                  compliance by GRR and ALI with their obligations in                  clause 3.1                  and compliance by Silverstar with its obligations in                  clause 3.7,                  by providing to GRR and ALI - |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.2.1. | the                  share certificates in respect of the Novomatic Sold Shares, together                  with                  two separate declarations for the transfer thereof to GRR (for                  half of the                  Novomatic Sold Shares) and to ALI (for the other half) as to transferee,                  duly signed by Novomatic on a date not being more than 14 (fourteen)                  days before the date of delivery; |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.2.2. | a                  written cession of the Novomatic Sold Claims, substantially in                  the form                  attached hereto as **Annexure A**                  (***Cession                  of Novomatic Sold Claims***),                  including due delivery of any security held for or in respect of                  those                  claims; |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.2.3. | a                  resolution in terms of section 228 of the Companies Act No.61 of 1973                  (the “**Companies                  Act**”),                  if necessary, substantially in the form attached hereto as **Annexure B**** **(***Section 228                  Resolution***),                  provided that to the extent that such resolution is not delivered                  on the                  Implementation Date the Century Companies shall be deemed to have                  warranted to GRR and ALI that such resolution is not necessary                  in terms of                  the Companies Act; and |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.2.4. | the                  signature of Novomatic on the otherwise completed consent form                  which the                  Gauteng Gambling Board (the “**Board**”)                  requests be submitted pertaining to the application dated 25 August                  2006                  (the “**Novomatic                  Section 38 Application**”)                  lodged by various members of the GRR Group requesting the Board’s                  approval, in terms of section 38 of the Gauteng Gambling Act No. 4 of                  1995 (the “**Act**”),                  of the acquisition of the Novomatic Sold Shares and the Novomatic                  Sold                  Claims. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.3. | The                  stamp duty in respect of the transfer of the Novomatic Sold Shares                  shall                  be borne by GRR and ALI. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.4. | The                  Novomatic Sold Shares and Novomatic Sold Claims are purchased by                  GRR and                  ALI voetstoots, save that Novomatic warrants in favour of GRR and                  ALI                  that - |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | 3.4.1. | Novomatic                    will be the beneficial and registered owner of the Sold Shares                    and the                    Sold Claims on the Date Of Signature Hereof and the Implementation                    Date; |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.4.2. | Novomatic                  knows of no reason which, on the implementation of the provisions                  of                  clauses 3.1                  and 3.2                  above, will prevent GRR and ALI from becoming the sole and exclusive                  owners of the Novomatic Sold Shares and the Novomatic Sold Claims; |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.4.3. | the                  Novomatic Sold Shares and the Novomatic Sold Claims are capable                  of being                  transferred without any right of pre-emption, option, donation                  or                  *stipulation                  alteri*; |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.4.4. | the                  Novomatic Sold Shares and the Novomatic Sold Claims are not subject                  to any                  pledge, limitation, notarial bond or any encumbrance of whatsoever                  nature;                  and |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.4.5. | no                  person will have any right of any nature whatsoever to acquire                  the                  Novomatic Sold Shares and the Novomatic Sold Claims. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.5. | The                  Century Companies hereby acknowledge and consent to the conclusion                  and                  implementation of the sale of the Novomatic Sold Shares and Novomatic                  Sold                  Claims and hereby waive, in favour of the GRR Group, any rights                  of                  pre-emption, rights of first refusal, rights to acquire the Novomatic                  Sold                  Shares and/or the Novomatic Sold Claims (whether in terms of a                  call option                  or any other mechanism) and any other similar rights that any of                  them may                  hold pursuant to any agreement or the Articles of Association of                  Silverstar or any other company. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Termination        Of The Management Agreements**

|   | 3.6. | The                  Parties hereby agree that the Management Agreements shall be terminated,                  or in the event of clause 3.8                  becoming applicable shall be amended, with effect from the date                  of receipt                  of the following approvals (the “**Required                  Approvals**”):                  (i) the approval of the Board relating to such termination or amendment                  (as the case may be); and (ii) the approval of such termination                  in terms                  of the Competition Act, No. 89 of 1998, if such approval is required                  to be obtained in law prior to such termination, provided that,                  in the                  case of the termination, the Required Approvals are received by                  no later                  than 30 June 2007 (the “**Applicable                  Date**”),                  failing which the Management Agreements shall remain of full force                  and                  effect subject to the provisions of clause 3.8                  which shall then apply. In light of the fact that Da Silva is a                  party to                  certain of the Management Agreements, the Parties shall use their                  respective reasonable endeavours to procure his agreement to the                  aforesaid                  termination or amendment (as the case may be) by virtue of signing                  the                  termination consent in the form of **Annexure C**                  (***Da                  Silva Termination Consent***),                  provided that such endeavours shall not be interpreted to mean                  that the                  Century Companies shall be under an obligation to pay to Da Silva or                  to contribute to payment to Da Silva of any consideration or                  compensatory sum in order to procure his agreement                  accordingly.  |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.7. | In                  consideration for the Century Companies agreeing to the aforesaid                  termination and to the amendment in clause 3.8,                  Silverstar shall pay, on the Implementation Date, an amount of                  R1,00 (one                  rand) to CCWR, to be paid by cheque, an amount of R40 290 375,00                  (forty million two hundred and ninety thousand three hundred and                  seventy                  five rand) to Century Resorts to be paid by way of direct electronic                  funds                  transfer in immediately available funds into a South African bank                  account                  nominated in writing, delivered by Century Resorts to GRR, and                  an amount                  of R3 000 000,00 (three million rand) to CCA to be paid by bank                  guaranteed cheque. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | 3.8. | From                  the Applicable Date, if this clause 3.8                  becomes applicable (which it will do in the circumstances contemplated                  in                  clause 3.6),                  the                  Management Agreements shall remain of full force and effect, save                  that                  they shall be amended such that the only rights and obligations                  contained                  therein are the obligation of CCWR to advise Silverstar, once every                  6                  (six) months, as to the current best international practices in                  the                  managing and operating of casinos and the reciprocal obligation                  of                  Silverstar to pay a consideration therefor equal to 1% (one per                  cent) of                  its gross gaming revenues (payable monthly) and 1% (one per cent)                  of its                  EBITDA (payable monthly on account with an adjusting payment or                  credit                  within one month after the completion of the audited financial                  statements                  of Silverstar), all of which amounts shall be paid directly to                  Century                  Resorts by way of direct electronic funds transfer in immediately                  available funds into a South African bank account nominated in                  writing,                  delivered by Century Resorts to Silverstar. On the Applicable Date,                  the                  Management Agreements shall be deemed to have been amended as aforesaid,                  subject only to the receipt of the Required Approvals. The Century                  Companies shall provide all reasonable assistance in procuring                  such                  approvals. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.9. | If                  the Required Approvals referred to in clause 3.8                  have not been received within 3 (three) months after the Applicable                  Date                  then forthwith on the expiry of such 3 (three) month                  period - |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.9.1. | against                  compliance by the Century Companies with their obligations in                  clause 3.9.2                  below, the provisions of clauses 3.6                  and 3.8                  shall cease and the Management Agreements shall remain of full                  force and                  effect; and |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.9.2. | against                  the provisions of clause 3.9.1                  being implemented, the Century Companies shall reimburse to Silverstar                  the                  R40 290 375,00 (forty million two hundred and ninety thousand                  three hundred and seventy five rand)                  payment contemplated in clause 3.7,                  such reimbursement to be paid on written demand from Silverstar                  (against                  the provisions of clause 3.9.1                  being implemented) by way of direct electronic funds transfer in                  immediately available funds into a South African bank account nominated                  in                  writing, delivered by Silverstar to Century Resorts.  |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.10. | Each                  of the Century Companies who are party to any Management Agreement                  shall                  deliver to GRR a resolution in terms of section 228 of the Companies                  Act, if necessary, substantially in the form attached hereto as                  **Annexure B**                  (***Section 228                  Resolution***),                  on the Implementation Date (save for CCWR, in respect of which                  the                  resolution shall be delivered within 30 (thirty) days after the                  Implementation Date), provided that to the extent that such resolution                  is                  not delivered on the Implementation Date (or on the expiry of the                  said 30                  (thirty) day period, as the case may be) by any Century Company,                  such                  company shall be deemed to have warranted to the GRR Companies                  that such                  resolution is not necessary in terms of the Companies Act.                  Notwithstanding the foregoing, the aforesaid warranty shall be                  deemed to                  have not been granted, in respect of the resolution pertaining                  to CCWR                  only, if such resolution is not obtained timeously and the sole                  reason                  therefor is that the necessary CCWR shareholders’ meeting for the passing                  of such resolution is timeously called but is not quorate by reason                  solely                  of the Silva Trust failing to attend the meeting (whether in person                  or by                  proxy). |
|--------|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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**General**

|   | 3.11. | GRR                  hereby undertakes that, to the extent that ALI fails to pay any                  portion of                  the purchase price in clause 3.1                  and/or Silverstar fails to pay any portion of the consideration                  in                  clause 3.7,                  GRR will pay such shortfall on the Implementation Date,                  *mutatis                  mutandis*                  as                  contemplated in clause 3.1                  or                  clause 3.7                  (as the case may be). Furthermore, any portion of the aforesaid                  purchase                  price or consideration which is not paid on due date shall attract                  interest at the prime overdraft rate quoted by Nedbank Limited                  plus                  3% (three per cent), calculated nominal annual compounded monthly                  in                  arrear, until the date of payment of such outstanding portion in                  full.   |
|--------|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.12. | The                  Century Group hereby acknowledge that GRR has informed them that                  the                  Novomatic Section 38 Application, the Amendment Application (being                  the                  application dated 29 August 2006, lodged by Silverstar for the                  amendment of the casino licence issued to Silverstar by the Board                  on                  29 April 2005 (the “**Licence**”)                  in order to remove the words “*Century                  Casinos West Rand (Proprietary) Limited - operator*”                  from the front page of the Licence) and the Prior Approval Application                  (being the application in the letter dated 29 August 2006, addressed                  by Silverstar to the Board for their prior written approval of                  the                  termination of the Management Agreements as contemplated in clause                  3.6 in                  terms of Paragraph 9 of Schedule D of the Licence) (collectively                  the “**Applications**”)                  have been lodged with the Board and the Century Group hereby consent                  (and                  undertake in favour of the GRR Group not to object) to such Applications                  (and any other applications lodged with the Board pertaining to                  Silverstar) and (at the cost of the GRR Group) undertake to provide                  the                  signature of any necessary documentation to procure the approval                  by the                  Board of the Applications. Without                  derogating from the aforegoing, the Century Companies shall sign                  and                  deliver a letter, substantially in the form of** ****Annexure D**                  (***Century                  Companies Letter***),                  to GRR, ALI and Silverstar on the Implementation Date. Notwithstanding                  any                  confidentiality provision in this agreement or elsewhere, the GRR                  Group                  shall be entitled to provide a copy of this agreement and/or the                  aforesaid                  letter to the Board in order to demonstrate the support of the                  Century                  Group contemplated in this clause 3.12.  |
|--------|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.13. | The                  Century Companies on the one hand and the GRR Companies on the                  other hand                  hereby undertake in favour of each other to do all such things                  as may                  reasonably be necessary in order to procure the prompt implementation                  of                  this agreement. |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.14. | To                  the extent that any of the members of the Century Group (who are                  not                  Century Companies) are expressed as having obligations or as being                  required to perform any function in terms of this agreement, the                  Century                  Companies will procure that such members perform the obligation                  or                  function in question. This provision shall apply *mutatis                  mutandis*                  to                  the GRR Group and the GRR                  Companies. |
|--------|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | 3.15. | The                  Parties agree that this agreement shall have no effect on the Verkrans                  Agreement. |
|--------|-------|-------------------------------------------------------------------------------------------------------------------------|

|   | 3.16. | Save                  as expressly contemplated in this agreement, the Parties agree                  that                  neither the GRR Group nor the Century Group shall have any claims                  or                  rights of whatsoever nature and howsoever arising against the other                  of                  them and this agreement is concluded in full and final settlement                  of all                  and any claims/disputes of whatsoever nature between them as at                  the Date                  Of Signature Hereof (including, without limitation, any claims,                  rights or                  disputes arising pursuant to the Management Agreements or the Option                  Agreements) and that the Century Companies shall not in any circumstances                  whatsoever, save as contemplated in clause 3.9.2,                  be obliged to refund any of the amounts paid to the Century Companies                  as                  provided in clauses 3.1 and 3.7. |
|--------|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **4.** | **REPRESENTATIVES** |
|--------|---------------------|

|   | 4.1. | The                  giving of any notice by the GRR Group to CCA in terms of this agreement,                  shall constitute due notice to the Century Group. The obtaining                  by the GRR                  Group of CCA’s consent shall constitute the giving of the consent in                  question by the Century Group. |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 4.2. | The                  giving of any notice by the Century Group to GRR in terms of this                  agreement, shall constitute due notice to the GRR Group. The obtaining                  by                  the Century Group of GRR’s consent shall constitute the giving of the                  consent in question by the GRR Group. |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **5.** | **CONFIDENTIALITY                  AND PUBLICITY** |
|--------|----------------------------------------------------|

| **6.** | **GOVERNING                  LAW** |
|--------|------------------------------------|

| **7.** | **ARBITRATION** |
|--------|-----------------|

|   | 7.1. | Should                  any dispute arise between the Parties in connection with or arising                  out of                  this agreement, or arising out of or in connection with the Option                  Agreements or Management Agreements, that dispute shall, unless                  resolved                  amongst the parties to the dispute, be referred to and be determined                  by                  arbitration in terms of this clause 7. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 7.2. | Any                  Party may demand that a dispute be determined in terms of this                  clause 7                  by                  written notice given to the other                  Parties. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|  | 7.3. | This                  clause 7                  shall not preclude any Party from obtaining interim relief on an                  urgent                  basis from a Court of competent jurisdiction pending the decision                  of the                  arbitrator, and for that purpose the Parties consent / submit to                  the                  jurisdiction of the High Court of South Africa (Witwatersrand Local                  Division). |
|--|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 7.4. | Save                  as provided for in this clause 7                  (and below in this clause 7.4)                  the arbitration shall be held / determined in terms of the South                  African                  Arbitration Act, No. 42 of 1965, as amended                  : |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 7.4.1. | A                  single arbitrator shall be appointed by agreement between the Parties                  (within 2 (two) weeks of the delivery of the notice in                  clause 7.2                  above). The Party delivering the notice shall nominate three arbitrators,                  from which just one arbitrator shall be chosen. Failing agreement                  on the                  choice / identity of the arbitrator any of the Parties may approach                  the                  Chairman of the Johannesburg Bar Council to nominate the                  arbitrator; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 7.4.2. | The                  Parties agree that the dispute which has arisen between the Parties                  will                  be defined and particularised by an exchange of pleadings / submissions,                  as will the relief sought; |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 7.4.3. | The                  Parties agree that the arbitration proceedings shall conclude within                  a                  period of 10 (ten) weeks from the date of the filing of the submission                  of                  the claimant, that period to include the period in which the arbitrator                  shall give his decision; |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 7.4.4. | The                  Parties agree that an appropriate procedure will be agreed upon                  by the                  Parties with the arbitrator, failing which agreement the arbitrator                  shall                  determine the procedure (within the constraint of the 10 (ten)                  week                  period). The Parties agree that a pre-arbitration meeting shall                  take place                  as soon as possible (but no later than 10 (ten) days after the                  appointment                  of the arbitrator, alternatively as soon as the arbitrator is available)                  in order to agree the procedure and                  schedule; |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 7.4.5. | The                  arbitrator shall have the right to determine his own                  jurisdiction; |
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|   | 7.4.6. | The                  proceedings will take place in Sandton at a venue to be                  decided; |
|--------|--------|--------------------------------------------------------------------------------------------------------|

|   | 7.4.7. | The                  Parties hereby nominate their *domicilium                  citandi et executandi*                  set out in clause 10,                  for all purposes, whether in respect of Court / dispute resolution                  process                  (including arbitration), notices or other documents or communications                  of                  whatsoever nature; and |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 7.4.8. | The                  Parties agree that the decision of the arbitrator may be subject                  to an                  appeal, on a limited basis to be agreed, failing which on                  papers/submissions only before a single appeal arbitrator, the                  appeal                  process, inclusive of the time within which the appeal arbitrator                  shall                  make his decision, to take no longer than a period of 3 (three)                  weeks. The                  procedure of choice of appeal arbitrator shall be as per the procedure                  of                  choice of arbitrator of first                  instance. |
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**8.**
**BREACH**

| **9.** | **NO                  CESSION OR ASSIGNMENT** |
|--------|-----------------------------------------------|

| **10.** | **DOMICILIUM                  CITANDI ET EXECUTANDI** |
|---------|-------------------------------------------------------|

*domicilia        citandi et executandi*

|   | 10.1. | the                  GRR Companies: |
|--------|-------|-------------------------------------|

|  Physical: |  Gold                  Reef City    |
|-----------------|------------------------------------------|
|            |  Gate                  4            |
|            |  Northern                  Parkway  |
|            |  Ormonde                            |
|            |                                     |
|  Telefax:  |  (+27-11)                  248-6886 |

|   | 10.2. | the                  Century Companies: |
|--------|-------|-----------------------------------------|

|  Physical: |  20th                  Floor            |
|-----------------|----------------------------------------------|
|            |  No.                  1 Thibault Square |
|            |  Cape                  town             |
|            |  8001                                   |
|            |                                         |
|  Telefax:  |  (+27-21)                  421-3739     |

| **11.** | **COUNTERPARTS** |
|---------|------------------|

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| DATE                  |   | PLACE                          | WITNESS                                  | SIGNATURE                                                                                        |
|-----------------------|--------|--------------------------------|------------------------------------------|--------------------------------------------------------------------------------------------------|
|                  |   |                           |                                     |                                                                                             |
|                  |   |                           | 1.                  /s/ Jarrod Friedman  | For:                  GOLD REEF RESORTS LIMITED                                                  |
|   27/9/2006 |   |  Johannesburg             |                                     |  /s/                Steven Joffe                                                            |
|                  |   |                           | 2.                  /s/ Christopher Paul |                                                                                             |
|                  |   |                           |                                     |                                                                                             |
|                  |   |                           |                                     |                                                                                             |
|                  |   |                           | 1.                  /s/ Jarrod Friedman  | For:                  AKANI LEISURE INVESTMENTS (PROPRIETARY) LIMITED                            |
|   27/9/2006 |   |  Johannesburg             |                                     |  /s/                Richard Thabo Moloko                                                    |
|                  |   |                           | 2.                  /s/ Christopher Paul |                                                                                             |
|                  |   |                           |                                     |                                                                                             |
|                  |   |                           | 1.                  /s/ Jarrod Friedman  | For:                  AKANI LEISURE (SILVERSTAR HOLDINGS) (PROPRIETARY)                  LIMITED |
|   27/9/2006 |   |  Johannesburg             |                                     |  /s/                Richard Thabo Moloko                                                    |
|                  |   |                           | 2.                  /s/ Christopher Paul |                                                                                             |
|                  |   |                           |                                     |                                                                                             |
|                  |   |                           |                                     |                                                                                             |
|                  |   |                           | 1.                  /s/ Jarrod Friedman  | For:                  SILVER STAR DEVELOPMENT LIMITED                                            |
|   27/9/2006 |   |  Johannesburg             |                                     |   /s/                Steven Joffe                                                      |
|                  |   |                           | 2.                  /s/ Christopher Paul |                                                                                             |
|                  |   |                           |                                     |                                                                                             |
|                  |   |                           |                                     |                                                                                             |
|                  |   |                           | 1.                  /s/ Judith Mackay    | For:                  CENTURY RESORTS LIMITED                                                    |
|  27/9/2006       |   |  Cape                Town |                                     |  /s/                Roy Anderson                                                            |
|                  |   |                           | 2.                  /s/ Heidi Dorfling   |                                                                                             |
|                  |   |                           |                                     |                                                                                             |
|                  |   |                           |                                     |                                                                                             |
|                  |   |                           | 1.                  /s/ Judith Mackay    | For:                  CENTURY CASINOS WEST RAND (PROPRIETARY) LIMITED                            |
|  27/9/2006       |   |  Cape                Town |                                     |  /s/                Roy Anderson                                                            |
|                  |   |                           | 2.                  /s/ Heidi Dorfling   |                                                                                             |
|                  |   |                           |                                     |                                                                                             |

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|                DATE |   |                PLACE          |                WITNESS          |                SIGNATURE                                    |
|--------------------------|--------|------------------------------------|--------------------------------------|------------------------------------------------------------------|
|                          |   |                               | 1.                /s/ Judith Mackay  |  For:                NOVOMATIC AG                           |
|  27/9/2006          |   |  Cape              Town       |                                 |  /s/              Roy Anderson                              |
|                     |   |                               | 2.                /s/ Heidi Dorfling |                                                             |
|                     |   |                               |                                 |                                                             |
|                     |   |                               |                                 |                                                             |
|                     |   |                               | 1.                /s/ Judith Mackay  | For:                CENTURY CASINOS AFRICA (PROPRIETARY) LIMITED |
|  27/9/2006          |   |  Cape              Town  |                                 |  /s/              Roy Anderson                              |
|                     |   |                               | 2.                /s/ Heidi Dorfling |                                                             |
|                     |   |                               |                                 |                                                             |
|                     |   |                               |                                 |                                                             |
|                     |   |                               | 1.                /s/ Judith Mackay  | For:                CENTURY CASINOS, INC.                        |
|  27/9/2006          |   |  Cape              Town       |                                 |  /s/              Roy Anderson                              |
|                     |   |                               | 2.                /s/ Heidi Dorfling |                                                             |
|                     |   |                               |                                 |                                                             |
|                     |   |                               |                                 |                                                             |
|                     |   |                               | 1.                /s/ Judith Mackay  | For:                CENTURY CASINOS MANAGEMENT, INC.             |
|  27/9/2006          |   |  Cape              Town       |                                 |  /s/              Roy Anderson                              |
|                     |   |                               | 2.                /s/ Heidi Dorfling |                                                             |
|                     |   |                               |                                 |                                                             |
|                     |   |                               |                                 |                                                             |

----

**Annexure **

**A**

**          - Cession of Novomatic Sold Claims**

**NOVOMATIC          AG **

**Novomatic**

**GOLD          REEF RESORTS LIMITED**

**GRR**

**AKANI          LEISURE INVESTMENTS (PROPRIETARY) LIMITED**

**ALI**

**[**
**—**
**]**

| DATE   |   | PLACE  | WITNESS | SIGNATURE                            |
|--------|--------|--------|---------|--------------------------------------|
|   |   |   |    |                                 |
|   |   |   | 1.      | For:                    NOVOMATIC AG |
|   |   |   |    |                                 |
|   |   |   | 2.      |                                 |

| DATE   |   | PLACE  | WITNESS | SIGNATURE                                                               |
|--------|--------|--------|---------|-------------------------------------------------------------------------|
|   |   |   |    |                                                                    |
|   |   |   | 1.      | For:                    GOLD REEF RESORTS LIMITED                       |
|   |   |   |    |                                                                    |
|   |   |   | 2.      |                                                                    |
|   |   |   |    |                                                                    |
|   |   |   |    |                                                                    |
|   |   |   | 1.      | For:                    AKANI LEISURE INVESTMENTS (PROPRIETARY) LIMITED |
|   |   |   |    |                                                                    |
|   |   |   | 2.      |                                                                    |
|   |   |   |    |                                                                    |
|   |   |   |    |                                                                    |

----

**Annexure B          -          Section 228 Resolution**

**RESOLUTION          OF THE SHAREHOLDERS OF [**
***insert          either “Novomatic AG” or the name of the relevant Century Company, as the case          may be***
**]          (the “Company”) PASSED AT A MEETING OF THE SHAREHOLDERS ON          [**
**·**
**] 2006**

**RESOLVED          THAT :**

*use          this paragraph if Novomatic AG has been inserted above*

*use          this paragraph if the name of a Century Company has been inserted above]          *
*inter          alia*

**_________________________________________**

**_________________________________________**

**_________________________________________**

----

**Annexure **

**C**

**          - Da Silva Termination Consent**

**JOSE          GARCIA SEQUEIRA DA SILVA **

**Da          Silva**

**[**
**—**
**]**

| DATE   |   | PLACE  | WITNESS | SIGNATURE                                        |
|--------|--------|--------|---------|--------------------------------------------------|
|   |   |   |    |                                             |
|   |   |   | 1.      |                                             |
|   |   |   |    |                                             |
|   |   |   | 2.      | JOSE                    GARCIA SEQUEIRA DA SILVA |

----

**Annexure **

**D**

**          - Century Companies Letter**

** **

**GRR**

**ALI**

**Silverstar**

**[**
**—**
**]**

**CONSENT          TO VARIOUS APPLICATIONS MADE TO THE GAUTENG GAMBLING BOARD (the “Board”)**

| 1. | We                    refer to the following applications to the Board (the “**Applications**”) : |
|----|--------------------------------------------------------------------------------------------------------------------|

|   | 1.1. | The                    application dated 28 July 2006 by, *inter                    alia*,                    GRR and ALI for the approval of the Board in terms of section 38 of                    the Gauteng Gambling Act No. 4 of 1995 (the “**Act**”)                    pertaining to the acquisition of an aggregate of 92% (ninety two per                    cent) of the issued shares in Silverstar; |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.2. | The                    application dated 25 August 2006 by, *inter                    alia*,                    GRR and ALI for the approval of the Board in terms of section 38 of                    the Act pertaining to the acquisition of an aggregate of 8% (eight                    per cent) of the issued shares in Silverstar; |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.3. | The                    application dated 29 August 2006 by Silverstar for the approval                    of the Board in terms of section 34 of the Act pertaining to the                    amendment of the casino licence issued to Silverstar by the Board                    on                    29 April 2005 (the “**Licence**”); |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.4. | The                    application in the letter dated 29 August 2006 addressed by                    Silverstar to the Board for their prior written approval of the                    termination of various management agreements, in terms of Paragraph 9                    of Schedule D of the Licence. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| ____________________________Century                    Resorts Limited                         |   | __________________________Century                    Casinos Africa (Proprietary) Limited |
|------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------------------------|
|                                                                                           |   |                                                                                      |
| ____________________________Century                    Casinos West Rand (Proprietary) Limited |   | __________________________Century                    Casinos, Incorporated                |
|                                                                                           |   |                                                                                      |
| ____________________________Novomatic                    AG                                    |   | __________________________Century                    Casinos Management, Incorporated     |
|                                                                                           |   |                                                                                      |