COMMERCIAL
                      CONTRACT TO BUY AND SELL REAL ESTATE

                                                         November 19, 1997
         1.  PARTIES AND PROPERTY WMCK Venture Corporation

_____________________________________________________,   Buyer(s)  (Buyer),  (as
joint  tenant/tenants  in common) agrees to buy, and the undersigned  seller(s),
(Seller)  agrees to sell, on the terms and conditions set forth in the contract,
for following described real estate in the County of Teller, Colorado to-wit:

Lots 21R, 24,25,26,and 27 (lots 21-27 inclusive):
Block 21; Fremont Addition (now Cripple Creek)

Known as No.      Cripple Creek,  Colorado 80513

Together  with all  interest of Seller in vacated  streets  and alleys  adjacent
thereto, all easements and other appurtenances thereto, all improvements thereon
and all attached fixtures thereon,  except as herein excluded  (collectively the
Property),

     2.  INCLUSIONS/EXCLUSIONS.  The purchase price includes the following items
(a) if attached to the Property on the date of this contract: lighting, heating,
plumbing,   ventilation,  and  air  conditioning  fixtures,  TV  antenna,  water
softeners,  smoke/fire/burglar alarms, security devices, inside telephone wiring
and connecting blocks/jacks, plants, mirrors, floor coverings, intercom systems,
built-in  Kitchen  appliances,  sprinkler  systems  and  control;  (b) if on the
property  whether  attached or not on the date of this contract:  storm windows,
storm doors, window and porch shades, awnings,  blinds,  screens,  curtain rods,
drapery rods,  all keys and (c) any HVAC or other  equipment on site or off site
as related to the property and mentioned by Seller on this date.


The  above-described  included items (Inclusions) are to be conveyed to Buyer by
Seller by bill of sale with warranty of title at the closing,  free and clear of
all  taxes,  liens and  encumbrances,  except as  provided  in  Section  12. The
following attached fixtures are excluded from this sale: None


     3. PURCHASE PRICE AND TERMS.  The purchase price shall be $3.2 million plus
400,000  restricted  (rule144)  shares of Century  Casinos  Inc.  Common  Stock,
payable in U.S.  dollars by Buyer as follows,  (Complete  the  applicable  terms
below.)

     (a)  Earnest Money

$150,000 in the form of Company  Check as earnest money deposit and part payment
of the purchase  price,  payable to and held by Pikes Peak Title (Woodland Park,
Colorado),  broker,  in its trust  account  on behalf of both  Seller and Buyer.
Broker is authorized to deliver the earnest money deposit to the closing  agent,
if any, at or before  closing.

     The balance of $______________ (purchase Price less earnest money) shall be
paid as follows:

     (b) Cash at Closing.

$3,050,000,  plus closing  costs,  to be paid by Buyer at closing in funds which
comply  with all  applicable  Colorado  laws,  which  include  cash,  electronic
transfer funds,  certified check,  savings and loan tellers check, and cashier's
check (Good Funds). (See Additional Provisions)

     (c) New Loan.

Not Applicable

     (d) Assumption

Not Applicable

     (e) Seller or Private Third Party Financing

Not Applicable

     4.  FINANCING CONDITIONS AND OBLIGATIONS - Not Applicable

     5.  APPRAISAL PROVISION-Not Applicable

     6.  COST OF APPRAISAL-Not Applicable


<PAGE>


     7. NOT  ASSIGNABLE.  This contract shall not be assignable by Buyer without
Seller's prior written  consent.  Except as so  restricted,  this contract shall
inure to the benefit of and be binding upon the heirs,  person  representatives,
successors and assigns of the parties.

     8. EVIDENCE OF TITLE.  Seller shall furnish to buyer, at Seller's  expense,
either a current  Commitment  for owner's  title  insurance  policy in an amount
equal to purchase  price on or before  December 3,  1997(Title  Deadline).  If a
title insurance commitment is furnished, Buyer may require of Seller that copies
of instruments  (or abstracts of  instruments)  listed in schedule of exceptions
(Exceptions)  in the title  insurance  commitment  also be furnished to Buyer at
Seller's  expense.  This requirement  shall pertain only to instruments shown of
record  in the  office of the clerk and  recorder  of the  designated  county or
counties. The title insurance commitment,  together with any copies or abstracts
of  instruments  furnished  pursuant  to this  Section 8,  constitute  the title
documents (Tile Documents).  Seller will pay the premium at closing and have the
title insurance policy delivered to Buyer as soon as practicable  after closing.
Also,  title  insurance  policy  shall be issued on the ALTA 1987  Owners  Form,
amended 10/17/92, with standard printed exceptions 1,2,3, and 4 deleted.

     9. TITLE.
     (a) Title Review. Buyer shall have the right to inspect the Title Documents
or abstract Written Notice by Buyer of  unmerchantability  of title or any other
unsatisfactory title condition shown by the Title Documents or abstract shall be
signed by or on behalf of Buyer and given to Seller on or before 5 calendar days
before  closing.  If Seller  does not  receive  Buyer's  notice  by the  date(s)
specified above,  Buyer accepts the condition of title as disclosed by the Title
Documents as satisfactory.
     (b) Matters Not Shown by the Public Records. Seller shall deliver to Buyer,
on or before  the Title  Deadline  set forth if  Section  8, true  copies of all
lease(s) and  survey(s) in Seller's  possession  pertaining  to the Property and
shall disclose to Buyer all easements, liens or other title matters not shown by
the public  records of which Seller has actual  knowledge.  Buyer shall have the
right to inspect the Property to  determine if any third  party(s) has any right
in the Property not shown by the public records (such as an unrecorded easement,
recorded   lease,  or  boundary  line   discrepancy).   Written  notice  of  any
unsatisfactory  conditions(s) disclosed by Seller or revealed by such inspection
shall be signed by or on behalf of Buyer and given to Seller on or before 5 days
before closing.  If Seller does not receive  Buyer's notice by said date;  Buyer
accepts  title  subject to such rights,  if any, of third parties of which Buyer
has actual knowledge.
     (c) Special Taxing  Districts.  SPECIAL TAXING  DISTRICTS MAY BE SUBJECT TO
GENERAL  OBLIGATION  INDEBTEDNESS  THAT IS PAID BY REVENUES PRODUCED FROM ANNUAL
TAX LEVIES ON THE TAXABLE  PROPERTY  WITHIN SUCH  DISTRICTS.  PROPERTY OWNERS IN
SUCH  DISTRICTS MAY BE PLACED AT RISK FOR INCREASE MILL LEVIES AND EXCESSIVE TAX
BURDENS  TO  SUPPORT  THE  SERVICING  OF SUCH  DEBT  WHERE  CIRCUMSTANCES  ARISE
RESULTING IN THE  INABILITY OF SUCH A DISTRICT TO  DISCHARGE  SUCH  INDEBTEDNESS
WITHOUT  SUCH AN INCREASE IN MILL  LEVIES,  BUYER  SHOULD  INVESTIGATE  THE DEBT
FINANCING  REQUIREMENTS OF THE AUTHORIZED GENERAL OBLIGATION INDETEDNESS OF SUCH
DISTRICTS,  EXSISTING MILL LEVIES OF SUCH DISTRICT  SERVICING SUCH INDEBTEDNESS,
AND THE POTENTION FOR AN INCREASE IN SUCH MILL LEVIES.
     In the event the  Property is located  with a special  taxing  district and
Buyer desires to terminate this contract as a result, if written notice is given
to Seller on or before  the date set forth in  subsection  9(b),  this  contract
shall then  terminate.  If Seller does not receiver  Buyer's  notice by the date
specified  above,  Buyer accepts the effect of the Property's  inclusion in such
special taxing districts(s) and waives the right to so terminate.
     (d) Right To Cure. If Seller receives notice of  unmerchantability of title
or any other  unsatisfactory title condition(s) as provided in subsection (a) or
(b) above,  Seller shall use  reasonable  effort to correct said  unsatisfactory
title condition(s) prior to the date of closing. If Seller fails to correct said
unsatisfactory title condition(s) on or before the date of closing this contract
shall then terminate; provide, however, Buyer may, by written notice receiver by
Seller,  on or before  closing,  waive  objection to said  unsatisfactory  title
condition(s).

     10.  INSPECTION.  Buyer  or any  designee,  shall  have  the  right to have
inspection(s)  of the physical  condition of the  Property  and  Inclusions,  at
Buyers expense. If written notice of any unsatisfactory condition,  signed by or
on behalf of Buyer,  is not  received  by Seller on or before  January  31, 1997
(Objection Deadline) the physical condition of the Property and inclusions shall


<PAGE>


be deemed to be  satisfactory  to Buyer. If such notice is received by Seller as
set forth  above,  and if Buyer and  Seller  have not  agreed in  writing,  to a
settlement  thereof on or before February 28,  1997(Resolution  Deadline),  this
contract shall terminate three calendar days following the Resolution  Deadline;
unless,  within the three calendar  days,  Seller  receives  written notice from
Buyer waiving objection to any  unsatisfactory  condition.  Buyer is responsible
for and shall pay for any damage, which occurs to the Property and Inclusions as
a result of such inspection.

     11. DATE OF CLOSING.  The date of closing  shall be March 31,  1997,  or by
mutual  agreement at an earlier date.  The hour and place of closing shall be as
designated by Pikes Peak Title.

     12. TRANSFER OF TITLE.  Subject to tender or payment at closing as required
herein and  compliance  by Buyer  with the other  terms and  provisions  hereof.
Seller shall execute and deliver a good and sufficient  general warranty deed to
Buyer, on closing, conveying the Property free and clear of all taxes except the
general taxes for the year of closing,  and except none. Title shall be conveyed
free and clear of all liens for special improvements installed as of the date of
Buyer' signature heron, whether assessed or not; except (I) distribution utility
easements  (including  cable TV),  (ii)  those  matters  reflected  by the Title
Documents  accepted by Buyer in accordance  with  subsection  9(a),  (iii) those
rights, if any, of third partied in the Property not shown by the public records
in accordance  with  subsection  9(b), (iv) inclusion of the Property within any
special taxing district, and (v) subject to building and zoning regulations.

     13. PAYMENT OF ENCUMBRANCES.  Any encumbrance  required to be paid shall be
paid at or before  closing  from the  proceeds of this  transaction  or from any
other source.

     14. CLOSING COSTS,  DOCUMENTS AND SERVICES.  Buyer and Seller shall pay, in
Good Funds,  their  respective  closing costs and all other items required to be
paid at closing,  except as otherwise  provided  herein.  Buyer and Seller shall
sign and complete all customary or required documents at or before closing. Fees
for real estate  closing  services  shall not exceed $1,000 and shall be paid by
Buyer and Seller equally.  The local transfer tax of N/A % of the purchase price
shall be paid at closing by N/A.  Any sales and use tax that may accrue  because
of this transaction shall be paid when due by Buyer.

     15. PROBATIONS.  General taxes for the year of closing,  based on the taxes
for the calendar year  immediately  preceding  closing,  rents,  water and sewer
charges,  owner's  association dues, and interest on continuing loan(s), if any,
and N/A shall be prorated to date of closing.

     16.  POSSESSION.  Possession of the Property shall be delivered to Buyer as
follows: At Closing,  with title conveyed as described in (12) above, subject to
the following  lease(s) or tenancy(s) none. If Seller,  after closing,  fails to
deliver  possession  on the date herein  specified,  Seller  shall be subject to
eviction and shall be  additionally  liable to Buyer for payment of $N/A per day
from the date of agreed possession until possession is delivered

     17. CONDITION OF AND DAMAGE TO PROPERTY. Not Applicable.

     18. TIME OF ESSENCE/REMEDIES. Time is of the essence hereof. If any note or
check received as earnest money  hereunder or any other payment due hereunder is
not paid, honored or tendered when due, or if any other obligation  hereunder is
not  performed  or waived  as  herein  provided,  there  shall be the  following
remedies.

     (a) IF BUYER IS DEFAULT:

     (1) Specific Performance-Not Applicable

     (2) Liquidated Damages. All payments and things of value received hereunder
shall be  forfeited  by Buyer and  retained on behalf of Seller and both parties
shall thereafter be released from all obligations  hereunder.  It is agreed that
such payments and things of value are LIQUIDATED DAMAGES and (except as provided
in  subsection(C))  are  SELLERS  SOLE AND ONLY  REMEDY for  Buyer's  failure to
perform the obligations of this contract.  Seller  expressly waives the remedies
of specific performance and additional damages.

<PAGE>


     (b) IF SELLER IS IN DEFAULT:

     Buyer may elect to treat  this  contract  as  cancelled,  in which case all
payments and thing so value received  hereunder  shall be returned and Buyer may
recover such damages as may be proper, or Buyer may elect to treat this contract
as being in full  force and effect  and Buyer  shall have the right to  specific
performance or damages or both.

     (c) COSTS AND EXPENSES

     Anything  to the  contrary  herein  notwithstanding,  in the  event  of any
arbitration or litigation arising out of this contract,  the arbitrator or court
shall award to the prevailing party all reasonable costs and expenses, including
attorney fees.

     19.  EARNEST  MONEY  DISPUTE.   Notwithstanding  any  termination  of  this
contract, Buyer and Seller agree that, in the event of any controversy regarding
the earnest  money and things of value held by broker of closing  agent,  unless
mutual written  instructions are received by the holder of the earnest money and
things of value,  broker or  closing  agent  shall not be  required  to take any
action but may await any proceeding or at broker's or closing agent's option and
sole discretion,  may interplead all parties and deposit any moneys or things of
value into a court of competent  jurisdiction  and shall recover court costs and
reasonable attorney fees.

     20. ALTERNATIVE DISPUTE RESOLUTION, MEDIATION. Not Applicable

     21. ADDITONAL PROVISIONS.

     (a)  Extension of Closing:  At any time prior to the  expiration  of Buyers
rights  hereunder,  Buyer shall have the right to extend the date of closing for
90 days upon waiver or  satisfaction of all  contingencies,  release the earnest
money  deposit  (except  interest  thereon)  to seller and  payment to Seller of
additional  $100,000  to be  non-refundable  and  credited  against  the closing
payment  described in Section  3(b).  These funds shall be deposited  with Pikes
Peak Title (closing agent).

     (b) Leases: Any existing leases on the property shall be disclosed to Buyer
with 15 days  hereof.  Seller  agrees  not to make or allow  any  changes  to or
extensions  of the Lease (if any) prior to  conveyance  of the property to Buyer
pursuant  to this  contract.  Seller  represents  that any such  lease  shall be
immediately terminated upon closing.

     (c)  Survey:  Buyer may  obtain a survey of the  Property,  certified  by a
licensed  Colorado  Surveyor.  The Survey shall be  considered  one of the Title
Documents. Survey performed at Buyer's expense.

     (d) Defects:  Seller shall notify Buyer immediately of any conditions known
to Seller with respect to the Property which violates any ordinance, code or law
of any city, county, state,  governmental or quasi-governmental agency or court.
If such a condition  exists,  Buyer may elect to terminate or  renegotiate  this
contract with Seller.

     (e) Property  Information:  Seller shall deliver to Buyer any architectural
drawings, studies and property data with 15 days hereof.

     (f) Buyer has the right to  terminate  this  contract  for any reason for 7
days following the data hereof.  In the event of such  termination,  the Earnest
Money deposit shall be refunded to Buyer.

     22.  RECOMMENDATION OF LEGAL COUNSEL.  By signing this document,  Buyer and
Seller  acknowledge  that the Selling Company or the Listing Company has advised
that this document has important  legal  consequences  and has  recommended  the
examination of title and consultation with legal and tax or other counsel before
signing this contract.

     23. TERMINATION. In the event this contract is terminated, all payments and
thing of value  received  hereunder  shall be returned and the parties  shall be
relieved of all obligations hereunder, subject to Section 19.

<PAGE>


     24.  SELLING  COMPANY BROKER  RELATIONSHIP.  The selling broker N/A and its
salesperson have been engaged as N/A Selling Company has previously disclosed in
writing to the Buyer that different  relationships  are available  which include
buyer agency, seller agency, subagency, or transaction-broker.

     25. NOTICE TO BUYER.  Any notice to Buyer shall be effective  when received
by Buyer.

     26. NOTICE TO SELLER. Any notice to Seller shall be effective when received
by Seller or Listing Company.

     27. MODIFICATION OF THIS CONTRACT. No subsequent modification of any of the
terms of this contract shall be valid,  banding upon the parties, or enforceable
unless made in writing and signed by the parties.

     28. ENTIRE AGREEMENT. This contract constitutes the entire contract between
the parties relating to the subject hereof, and any prior agreements  pertaining
thereto,  whether  oral or written,  have been merged and  integrated  into this
contract.

     29. NOTICE OF ACCEPTANCE  COUNTERPARTS.  This proposal  shall expire unless
accepted  in writing,  by Buyer and Seller,  as  evidenced  by their  signatures
below,  and the offering party receives  notice of such  acceptance on or before
N/A (Acceptance  Deadline).  If accepted,  this document shall become a contract
between Seller and Buyer. A copy of this document may be executed by each party,
separately,  and when each party has executed a copy thereof,  such copies taken
together shall be deemed to be a full and complete contract between the parties.



/s/ Chris Wrolstad                   /s/ Larry Hannappel
-----------------------------------  -------------------------------------------
<TABLE>

<S>                        <C>                  <C>                       <C> 
Date of Buyers Signature   November 19, 1997    Date of Buyer Signature   November 19, 1997
                           -----------------                              -----------------
</TABLE>

Buyers Address  200 E. Bennett Ave., Cripple Creek, Co 80813
               ---------------------------------------------

/s/ Hal D. Hicks
--------------------------------------------------------------------------------

Date of Sellers Signature   November 19, 1997
                            -----------------

Sellers Address c/o C. Michael Witters, 131 W. 4th St. Mt Carmel, IL  62863
               ---------------------------------------------


<PAGE>


                ADDENDUM TO BUY AND SELL REAL ESTATE BETWEEN WMCK
                      VENTURE CORPORATION AND HAL D. HICKS


     The following is an addendum to the foregoing  Agreement dated November 19,
1997:

     G. Buyer has until  January 31, 1998 to perform  all due  diligence  on the
property (surveys,  inspections,  defects,  etc.), provided that Seller delivers
the title  documents as described in this  Contract.  The due  diligence  period
shall be extended by the number of days Seller is delinquent  in delivering  the
title  documents.   Unless  notified  by  the  Buyer  in  writing  of  a  title,
environmental or ordinance  prohibiting Buyer's use of the property on or before
January 31, 1998, the $150,000.00  earnest money deposit will be released to the
Seller on February 1, 1998.

     H. Buyer  shall have the  option to pay  $400,000.00  in cash at closing in
lieu of issuance of the common stock referred to herein.


                                              WMCK VENTURE CORPORATION
                                              ------------------------

                                              BY:/s/ Chris Wrolstad
                                                     ---------------------------

                                              HAL D. HICKS

                                              BY:/s/ Hal D. Hicks
                                                     ---------------------------