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

___X___     QUARTERLY  REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES
EXCHANGE  ACT  OF  1934  FOR  THE  QUARTERLY  PERIOD  ENDED  SEPTEMBER 30, 2001.
_______     TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES
EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ____________  TO ___________
 .

               Commission  file  number      0-22290
                                            --------

                                    CENTURY CASINOS, INC.
                                    ---------------------
                      (Exact name of registrant as specified in its charter)
                    DELAWARE                             84-1271317
                    --------                             ----------
         (State  of  incorporation)                (IRS Employer  ID  No.)

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

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


Check  whether  the issuer (1) filed all reports required to be filed by Section
13  or  15(d) of the Exchange Act during the past 12 months (or for such shorter
period  that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days.  Yes     X   No
                                                                -----     -----
  Number of shares of common stock, $.01 par value, outstanding as
  of November 12, 2001:
                          13,711,284 [subject to change]

                                        1
<PAGE>

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                                  CENTURY  CASINOS,  INC.
                                         FORM  10-QSB
                                            INDEX

<S> <C>


                                                                       Page Number
                                                                       -----------
PART I   FINANCIAL INFORMATION

Item 1.  Condensed Financial Statements (unaudited)

         Condensed Consolidated Balance Sheet as of                          3
         September 30, 2001

         Condensed Consolidated Statements of Earnings                       4
         for the Three Months Ended September 30, 2001 and 2000

         Condensed Consolidated Statements of Earnings                       5
         for the Nine Months Ended September 30, 2001 and 2000

         Condensed Consolidated Statements of Comprehensive                  6
         Earnings for the Three Months and Nine Months Ended
         September 30, 2001 and 2000

         Condensed Consolidated Statements of Cash Flows                     7
         for the Nine Months Ended September 30, 2001 and 2000

         Notes to Condensed Consolidated Financial Statements                8

Item 2.  Management's Discussion and Analysis                               17

PART II  OTHER INFORMATION                                                  21

         SIGNATURES                                                         21

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                                        2
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<CAPTION>

CENTURY  CASINOS,  INC.  AND  SUBSIDIARIES
CONDENSED  CONSOLIDATED  BALANCE  SHEET  (Unaudited)
(Dollar  amounts  in  thousands)
----------------------------------------------------

<S>                                                           <C>
                                                          September 30, 2001
                                                          ------------------
ASSETS
Current Assets:
   Cash and cash equivalents                                       $ 3,293
   Accounts receivable                                                 914
   Prepaid expenses and other                                          734
                                                                   --------
     Total current assets                                            4,941

Property and Equipment, net                                         31,967
Goodwill, net                                                        8,345
Deferred Income Tax Asset                                            1,457
Other Assets                                                         2,059
                                                                   --------
Total                                                              $48,769
                                                                   ========
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities:
   Current portion of long-term debt                               $ 2,035
   Accounts payable and accrued expenses                             4,115
                                                                   --------
     Total current liabilities                                       6,150

Long-Term Debt, less current portion                                18,089
Interest Rate Swap Obligation                                          952
Minority Interest                                                      902

Shareholders' Equity:
   Preferred stock; $.01 par value; 20,000,000 shares
    authorized; no shares issued or outstanding                          -
    Common stock; $.01 par value; 50,000,000 shares authorized;
     14,485,776 shares issued; 13,742,784 shares outstanding           145
   Additional paid-in capital                                       21,917
   Accumulated other comprehensive loss                             (2,137)
   Retained earnings                                                 4,121
                                                                   --------
                                                                    24,046
   Treasury stock - 742,992 shares, at cost                         (1,370)
                                                                   --------
     Total shareholders' equity                                     22,676
                                                                   --------
Total                                                              $48,769
                                                                   ========
</TABLE>

See  notes  to  condensed  consolidated  financial  statements.

                                        3
<PAGE>
CENTURY  CASINOS,  INC.  AND  SUBSIDIARIES
CONDENSED  CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited)
(Dollar  amounts  in  thousands, except for share information)
--------------------------------------------------------------

<TABLE>
<CAPTION>

<S>                                                 <C>                                         <C>
                                                              For the Three Months Ended September 30,
                                                             -----------------------------------------
                                                                         2001                2000
                                                                         ----                ----
Operating Revenue:
 Casino                                                              $  7,992            $  6,876
 Food and beverage                                                        576                 369
 Hotel                                                                    228                  47
 Other                                                                    227                  89
                                                                     --------            --------
                                                                        9,023               7,381
 Less promotional allowances                                            1,122                 927
                                                                     --------            --------
   Net operating revenue                                                7,901               6,454
                                                                     --------            --------
Operating Costs and Expenses:
 Casino                                                                 2,456               1,956
 Food and beverage                                                        306                 224
 Hotel                                                                    183                 180
 General and administrative                                             1,855               1,689
 Depreciation and amortization                                          1,085                 851
                                                                     --------            --------
   Total operating costs and expenses                                   5,885               4,900
                                                                     --------            --------

Earnings from Operations                                                2,016               1,554
 Other income (expense), net                                             (390)               (328)
                                                                     --------            --------
Earnings before Income Taxes and Minority Interest                      1,626               1,226
 Provision for income taxes                                               908                 613
                                                                     --------            --------
Earnings Before Minority Interest                                         718                 613
 Minority interest in subsidiary (earnings) losses                        (31)                217
                                                                     --------            --------
Net Earnings                                                         $    687            $    830
                                                                     ========            ========

Earnings Per Share:
 Basic                                                               $   0.05            $   0.06
                                                                     ========            ========
 Diluted                                                             $   0.05            $   0.06
                                                                     ========            ========
</TABLE>


See  notes  to  condensed  consolidated  financial  statements.

                                        4
<PAGE>

CENTURY  CASINOS,  INC.  AND  SUBSIDIARIES
CONDENSED  CONSOLIDATED  STATEMENTS OF EARNINGS  (Unaudited)
(Dollar  amounts  in  thousands, except for share information)
--------------------------------------------------------------

<TABLE>
<CAPTION>

<S>                                                 <C>                                         <C>
                                                              For the Nine Months Ended September 30,
                                                             -----------------------------------------
                                                                         2001                2000
                                                                         ----                ----
Operating Revenue:
 Casino                                                              $ 22,909            $  18,485
 Food and beverage                                                      1,456                  912
 Hotel                                                                    552                  123
 Other                                                                    571                  247
                                                                     --------            ---------
                                                                       25,488               19,767
 Less promotional allowances                                            2,885                2,635
                                                                     --------            ---------
   Net operating revenue                                               22,603               17,132
                                                                     --------            ---------
Operating Costs and Expenses:
 Casino                                                                 7,104               5,060
 Food and beverage                                                        862                 467
 Hotel                                                                    509                 243
 General and administrative                                             6,063               5,573
 Depreciation and amortization                                          3,576               2,580
                                                                     --------            --------
   Total operating costs and expenses                                  18,114              13,923
                                                                     --------            --------

Earnings from Operations                                                4,489               3,209
 Other income (expense), net                                           (1,463)                533
                                                                     --------            --------
Earnings before Income Taxes and Minority Interest                      3,026               3,742
 Provision for income taxes                                             1,431               1,785
                                                                     --------            --------
Earnings Before Minority Interest                                       1,595               1,957
 Minority interest in subsidiary losses                                   134                 248
                                                                     --------            --------
Net Earnings                                                         $  1,729            $  2,205
                                                                     ========            ========

Earnings Per Share:
 Basic                                                               $   0.13            $   0.15
                                                                     ========            ========
 Diluted                                                             $   0.12            $   0.15
                                                                     ========            ========
</TABLE>


See  notes  to  condensed  consolidated  financial  statements.

                                        5
<PAGE>

CENTURY  CASINOS,  INC.  AND  SUBSIDIARIES
CONDENSED  CONSOLIDATED  STATEMENTS  OF  COMPREHENSIVE  EARNINGS  (Unaudited)
(Dollar  amounts  in  thousands)
-----------------------------------------------------------------------------
<TABLE>
<CAPTION>



<S>                                                                     <C>                                         <C>
                                                                     For the Three Months Ended September 30,
                                                                     ------------------------------------------
                                                                           2001                     2000
                                                                           ----                     ----
Net Earnings                                                            $   687                 $   830
Foreign currency translation adjustments                                   (663)                   (297)
Change in fair value of interest rate swap, net of income tax benefit      (269)                      -
                                                                        --------                --------
Comprehensive Earnings (Loss)                                           $  (245)                $   533
                                                                        ========                ========

                                                                     For the Nine Months Ended September 30,
                                                                     ---------------------------------------
                                                                           2001                     2000
                                                                           ----                     ----
Net Earnings                                                            $ 1,729                 $ 2,205
Foreign currency translation adjustments                                   (881)                   (617)
Cumulative effect of change in accounting principle related to
  interest rate swap, net of income tax benefit                            (175)                      -
Change in fair value of interest rate swap, net of income tax benefit      (422)                      -
                                                                        --------                --------
Comprehensive Earnings                                                  $    251                $ 1,588
                                                                        ========                ========
</TABLE>




See  notes  to  condensed  consolidated  financial  statements.

                                        6
<PAGE>
CENTURY  CASINOS,  INC.  AND  SUBSIDIARIES
CONDENSED  CONSOLIDATED  STATEMENTS  OF  CASH  FLOWS  (Unaudited)
(Dollar  amounts  in  thousands)
-----------------------------------------------------------------
<TABLE>
<CAPTION>


<S>                               <C>                                        <C>
                                                                   For the Nine Months Ended September 30,
                                                                   ---------------------------------------
                                                                          2001               2000
                                                                          ----               ----

Cash provided by operating activities                                  $   4,459         $   3,094
                                                                       ---------         ----------
Cash (used in) investing activities                                       (3,574)           (7,166)
                                                                       ---------         ----------
Cash provided by (used in) financing activities                           (6,453)            4,909
                                                                       ---------         ----------
Effect of exchange rate changes on cash                                     (216)                -
                                                                       ---------         ----------
Increase (decrease) in cash and cash equivalents                          (5,784)              837
Cash and cash equivalents at beginning of period                           9,077             2,508
                                                                       ---------         ----------
Cash and cash equivalents at end of period                             $   3,293         $   3,345
                                                                       =========         ==========


Supplemental Disclosure of Cash Flow Information:
Interest paid                                                          $     677         $     784
Income taxes paid                                                      $     993         $   1,336
</TABLE>
Non-cash Investing and Financing Activities:
In connection with the Company's acquisition of CAL in 2000 (see Note 4), the
minority shareholder contributed fixed assets valued at $3,836 in exchange for a
note  payable  to  the  minority shareholder of $2,302 and an equity interest of
$1,534.


See  notes  to  condensed  consolidated  financial  statements.
                                        7
<PAGE>

CENTURY  CASINOS,  INC.  AND  SUBSIDIARIES
NOTES TO CONDENSED  CONSOLIDATED  STATEMENTS (Unaudited)
(Dollar  amounts  in  thousands, except for share information)
-----------------------------------------------------------------
1.     DESCRIPTION  OF  BUSINESS  AND  BASIS  OF  PRESENTATION
       Century Casinos, Inc. and subsidiaries (the "Company") is an
       international gaming company which owns and operates a limited-stakes
       gaming casino in Cripple Creek, Colorado, owns 65% of and operates the
       Caledon Casino, Hotel and Spa near Cape Town, South Africa, manages a
       casino within a hotel located in Prague, Czech Republic, and serves as
       concessionaire of small casinos on four luxury cruise vessels. The
       Company regularly pursues additional gaming opportunities
       internationally and in the United States.

       The Company's operations in Cripple Creek, Colorado began with
       the 1994 acquisition of Legends Casino ("Legends"), followed by the
       1996 acquisition of Womack's Saloon & Gaming Parlor ("Womacks"), which
       is immediately adjacent to Legends. Following the acquisition of
       Womacks, interior renovations were undertaken on both properties to
       facilitate the operation and marketing of the combined properties as
       one casino under the name Womacks/Legends Casino.

       In July 1999, the Company began providing management services and
       leasing gaming equipment to the Casino Millennium, located in the
       five-star Marriott Hotel in Prague, Czech Republic. In January 2000,
       the Company entered into a memorandum of agreement to acquire a 50%
       ownership interest in Casino Millennium. The Company is in the process
       of negotiating a definitive purchase agreement.

       In April 2000,  the  Company's  South  African subsidiary acquired a 50%
       equity  interest in Caledon Casino Bid Company (Pty) Limited ("CCBC").
       In June, 2001 the company name for CCBC was changed to Century Casinos
       Caledon  (Pty)  Ltd.  ("CAL").  CAL  owns a 92-room resort hotel, spa,
       casino and approximately 600 acres of land (representing approximately
       230  hectares)  in  Caledon,  South  Africa  and  was awarded a casino
       license  for  the  project.  The  Company has a long-term agreement to
       manage  the  operations of the casino, which began in October 2000. In
       November  2000,  the  Company,  through  its South African subsidiary,
       increased  its  equity  interest  in  CAL  by  15%,  raising its total
       ownership  to  65%.

       In May 2000, the Company entered into a five-year agreement to
       serve as concessionaire of small casinos providing unlimited-stakes
       gaming operations on four luxury cruise vessels. The Company operates
       the casinos for its own account and pays concession fees based on
       gross gaming revenue, as defined, in excess of an
       established per passenger per day amount. The agreement requires the
       Company to provide all necessary gaming equipment. In September 2000,
       the Company opened the first of four casinos aboard the luxury cruise
       vessels, followed by the second and third casinos in October and
       November 2000, respectively. The maiden voyage of the fourth vessel
       occurred in June 2001. The Company has a total of approximately 160
       gaming positions on the four combined shipboard casinos.

       In August 2000, the Company entered into a five-year agreement to
       serve as concessionaire of a small casino aboard a vessel designed to
       be an exclusive residential community at sea. The Company will operate
       the casino for its own account and pay concession fees based on gross
       gaming revenue, as defined, in excess of an established amount
       per month. The maiden voyage of the residential cruise liner is
       expected early in 2002.


       In   September 2001, the Company, through its South African subsidiary,
       CCA, entered into an agreement to secure a 50% ownership interest in
       Rhino Resort Ltd. ("Rhino"), a consortium which includes Silverstar
       Development Ltd. ("Silverstar"). Rhino has submitted an application
       for a proposed 400 million rand ($45,000 at the exchange rate as of
       September 30, 2001) hotel/casino resort development in the greater
       Johannesburg area of South Africa. In the event that Rhino is awarded
       a license, the Company, as part of the September 2001 agreement, would
       be required to make an equity investment of approximately 40 million
       rand or $4,400 at the exchange rate as of September 30, 2001. At the
       present time, however, there can be no certainty regarding an award of
       this gaming license or that this license will ultimately be awarded to
       the Rhino consortium.
                                        8
<PAGE>
CENTURY  CASINOS,  INC.  AND  SUBSIDIARIES
NOTES TO CONDENSED  CONSOLIDATED  STATEMENTS (Unaudited)
(Dollar  amounts  in  thousands, except for share information)
-----------------------------------------------------------------
       The accompanying condensed consolidated financial statements and
       related notes have been prepared in accordance with accounting
       principles generally accepted in the United States of America for
       interim financial reporting and the instructions to Form 10-QSB and
       Item 310(b) of Regulation S-B. Accordingly, certain information and
       footnote disclosures normally included in financial statements
       prepared in accordance with accounting principles generally accepted
       in the United States of America, have been condensed or omitted. In
       the opinion of management, all adjustments (consisting of only normal
       recurring accruals) considered necessary for fair presentation of
       financial position, results of operations and cash flows have been
       included. These condensed consolidated financial statements should be
       read in conjunction with the financial statements and notes thereto
       included in the Company's Annual Report on Form 10-KSB for the year
       ended December 31, 2000.

2.     INCOME  TAXES
       Income tax provisions are based on estimated full-year
       earnings for financial reporting purposes adjusted for permanent
       differences, which consist primarily of nondeductible goodwill
       amortization.

3.     EARNINGS  PER  SHARE
       Basic and diluted earnings per share for the three months ended
       September 30, 2001 and 2000 were computed as follows
<TABLE>
<CAPTION>
<S> <C>
                                               For the Three Months Ended September 30,
                                               ----------------------------------------
                                                      2001                    2000
                                                      ----                    ----
Basic  Earnings  Per  Share:
  Net earnings                              $          687         $           830
                                            ==============         ===============
  Weighted average common shares                13,813,043              14,125,496
                                            ==============         ===============
  Basic earnings per share                  $         0.05         $          0.06
                                            ==============         ===============

Diluted  Earnings  Per  Share:
  Net earnings, as reported                 $          687         $           830
   Interest  expense,  net  of  income                   -                       6
   taxes,  on  convertible  debenture
                                            --------------         ---------------
Net earnings available to common            $          687         $           836
   shareholders
                                            ==============         ===============

  Weighted average common shares                13,813,043              14,125,496
     Effect  of  dilutive  securities:
       Convertible  debenture                            -                 204,395
       Stock options and warrants                1,119,927                 681,710
                                            --------------         ---------------
Dilutive potential common shares                14,932,970              15,011,601
                                            ==============         ===============
Diluted earnings per share                  $         0.05         $          0.06
                                            ==============         ===============

Excluded from computation of diluted
earnings per share due to antidilutive
effect:
    Options and warrants to purchase                 5,000                 535,000
    common shares
    Weighted average exercise price         $         2.25         $          2.43
</TABLE>

                                        9
<PAGE>

CENTURY  CASINOS,  INC.  AND  SUBSIDIARIES
NOTES TO CONDENSED  CONSOLIDATED  STATEMENTS (Unaudited)
(Dollar  amounts  in  thousands, except for share information)
-----------------------------------------------------------------
<TABLE>
<CAPTION>
<S> <C>

Basic  and diluted earnings per share for the nine months ended September 30,
2001 and 2000  were  computed  as  follows:
                                               For the Nine Months Ended September 30,
                                               ---------------------------------------
                                                    2001                      2000
                                                    ----                      ----

Basic  Earnings  Per  Share:
  Net earnings                              $      1,729              $      2,205
                                            ============              ============
  Weighted average common shares              13,856,842                14,308,060
                                            ============              ============
  Basic earnings per share                  $       0.13              $       0.15
                                            ============              ============

Diluted  Earnings  Per  Share:
  Net earnings, as reported                 $      1,729              $      2,205
   Interest expense, net of income                     8                        23
   taxes, on convertible debenture
                                            ------------              ------------
  Net earnings available to common          $      1,737              $      2,228
  shareholders
                                            ============              ============

  Weighted average common shares              13,856,842                14,308,060
    Effect  of  dilutive  securities:
     Convertible  debenture                       90,181                   249,127
     Stock options and warrants                1,076,118                   516,019
                                            ------------              ------------
  Dilutive potential common shares            15,023,141                15,073,206
                                            ============              ============
  Diluted earnings per share                $       0.12              $       0.15
                                            ============              ============

  Excluded from computation of diluted
  earnings per share due to
  antidilutive effect:
   Options and warrants to purchase                5,000                   565,000
   common shares
   Weighted average exercise price          $       2.25          $           2.39
</TABLE>

4.     CALEDON,  SOUTH  AFRICA

       In April 2000, the Caledon Casino Bid Company (Pty) Limited
       ("CCBC") was awarded a gaming license for a casino at a 92-room resort
       hotel and spa in Caledon, province of the Western Cape, South Africa
       and the Company's South African subsidiary, Century Casinos Africa
       (Pty) Ltd ("CCA"), acquired a 50% equity interest in CCBC. In June,
       2001 the company name for CCBC was changed to
       Century Casinos Caledon (Pty) Ltd. ("CAL"). The Company (through CCA)
       made an initial equity investment of approximately $1,534 in and a
       loan of approximately $2,302 to CAL with borrowings under its
       revolving credit facility. In a concurrent transaction, CAL, the
       Company and Caledon Overberg Investments (Proprietary) Limited
       ("COIL"), a minority shareholder in CAL, entered into a note agreement
       as part of the purchase of CAL. Under the terms of the agreement, CAL,
       in exchange for the contribution of certain fixed assets, entered into
       a loan agreement with COIL in the amount of approximately $2,302. The
       loan is due on demand subsequent to the repayment in full of the loan,
       discussed below, between CAL and PSGIB. In November 2000, the Company,
       through CCA, acquired an additional 15% of CAL, raising its ownership
       in CAL to 65%. The acquisition was

                                       10
<PAGE>
CENTURY  CASINOS,  INC.  AND  SUBSIDIARIES
NOTES TO CONDENSED  CONSOLIDATED  STATEMENTS (Unaudited)
(Dollar  amounts  in  thousands, except for share information)
-----------------------------------------------------------------
       completed with the payment of approximately $1,800 by the Company
       to COIL in exchange for 15% of the total shares of common stock of CAL
       (valued at approximately $1,200) and a shareholder loan to CAL,
       previously held by COIL (with a value of approximately $600). The
       acquisition of CAL by the Company and COIL has been recorded using the
       purchase method of accounting.

       In   April 2000, CAL entered into a loan agreement with PSGIB, which
       agreement provides for a principal loan of approximately $5,264 at the
       exchange rate as of September 30, 2001 to fund development of the
       Caledon project and a working capital facility of approximately $1,100
       at the exchange rate as of September 30, 2001. CAL is required to make
       principal payments beginning December 2001 and continuing over a
       five-year period. Outstanding borrowings bear interest at 17.052%. The
       shareholders of CAL have pledged all of the common shares held by them
       in CAL to PSGIB as collateral. The loan is also collateralized by a
       first mortgage bond over land and buildings and a general notorial
       bond over all equipment. As of September 30, 2001, the entire amount
       has been advanced against the loan agreement. The loan agreement
       includes certain restrictive covenants, as defined in the agreement,
       the most significant of which include, i) CAL must maintain a
       debt/equity ratio of 44:56 after the first twelve months of operations
       and a 40:60 debt/equity ratio after two years of operations, ii) CAL
       must maintain an interest coverage ratio of at least 2.0 after the
       first twelve months of operations, iii) CAL must maintain a debt
       service coverage ratio of at least 1.3 for the principal loan and 1.7
       for the working capital facility after the first twelve months of
       operations, and iv) CAL must maintain a loan life coverage ratio of
       1.5 for the principal loan and a loan life coverage ratio of 2.5 for
       the working capital facility. The Company is required to be in
       compliance with these covenants beginning October 31, 2001. In January
       2001, CAL cancelled the working capital facility to obtain more
       favorable terms. In April 2001, CAL entered into an addendum to the
       loan agreement in which PSGIB provided CAL with a standby facility in
       the amount of approximately $500 at the exchange rate as of September
       30, 2001. CAL is required to make principal payments on the standby
       facility in semi-annual installments, beginning December 2001 and
       continuing over a five-year period. Outstanding borrowings under the
       standby facility bear interest at 15.1%. As of September 30, 2001 CAL
       had drawn the entire amount of the standby facility.

       In December 1999, the Company, through CCA, entered into a
       ten-year casino management agreement with CAL, which agreement may be
       extended at CCA's option for multiple ten-year periods. The Company,
       through CCA, will earn management fees based on percentages of annual
       gaming revenue and earnings before interest, income taxes,
       depreciation, amortization and certain other costs. The casino opened
       on October 11, 2000 with 250 slot machines and 14 gaming tables. In
       addition to the casino license, hotel and spa, CAL owns approximately
       600 acres of land (representing approximately 230 hectares), which is
       expected to be used for future expansion of the project.
                                       11
<PAGE>
CENTURY  CASINOS,  INC.  AND  SUBSIDIARIES
NOTES TO CONDENSED  CONSOLIDATED  STATEMENTS (Unaudited)
(Dollar  amounts  in  thousands, except for share information)
-----------------------------------------------------------------
5.     PRAGUE,  CZECH  REPUBLIC
       In January 2000, the Company entered into a memorandum of
       agreement with B.H. Centrum a.s., the Company's Czech Republic
       business partner in Casino Millennium, located in Prague, Czech
       Republic. The memorandum of agreement provides for the two parties to
       acquire the casino from third parties by either a joint acquisition of
       Casino Millennium a.s. or the formation of a new joint venture. The
       transaction, if completed, would result in the Company having a 50%
       equity interest in Casino Millennium. Any funding required by the
       Company to consummate this transaction would be met through a
       combination of existing RCF borrowings (see Note 6), liquidity and
       anticipated cash flow. The Company is in the process of negotiating a
       definitive purchase agreement. As of September 30, 2001, the Company's
       net fixed assets leased to the Casino Millennium approximated $870 and
       management fee income for the nine months ended September 30, 2001 and
       2000 was approximately $170 and $124 respectively.

6.     REVOLVING  CREDIT  FACILITY
       On April 26, 2000, the Company and Wells Fargo Bank (the "Bank")
       entered into an Amended and Restated Credit Agreement (the "Agreement"
       or "RCF") which increased the Company's aggregate borrowing commitment
       from the Bank to $26,000 and extended the maturity date to April 2004.
       The aggregate commitment available to the Company will be reduced
       quarterly by $722, beginning October 2000 through the maturity date.
       As of September 30, 2001, the aggregate commitment, net of the
       quarterly reduction, available to the Company was $23,111. Interest on
       the Agreement is variable based on the interest rate option selected
       by the Company, plus an applicable margin based on the Company's
       leverage ratio. The Agreement also requires a nonusage fee based on
       the Company's leverage ratio on the unused portion of the commitment.
       The principal balance outstanding under the loan agreement as of
       September 30, 2001 was $11,939. The loan agreement includes certain
       restrictive covenants, the most significant of which include i) WMCK
       Venture Corp., a wholly-owned subsidiary of the Company, must maintain
       a maximum leverage ratio no greater than 3.10 to 1.00, ii) WMCK
       Venture Corp. must maintain a minimum interest coverage ratio no less
       than 1.50 to 1.00, and iii) WMCK Venture Corp. must maintain a TFCC
       ratio (a derivative of EBITDA, as defined in the agreement) of no less
       than 1.10 to 1.00. In August 2001, the Agreement was amended, the most
       significant change being a reduction in the aforementioned maximum
       leverage ratio to no greater than 2.50 to 1.00, allowing the Company
       to utilize the unused borrowing capacity to meet all of its future
       business growth activities. As of September 30, 2001, the Company is
       in compliance with all restrictive covenants. The consolidated
       weighted average interest rate on borrowings under the RCF was 8.91%
       for the first nine months of 2001.

7.     SHAREHOLDERS'  EQUITY
       During the first nine months of 2001, the Company repurchased, on
       the open market, an additional 278,500 shares of its common stock at
       an average price per share of $1.98. The Company held 742,992 shares
       in treasury as of September 30, 2001.
                                       12
<PAGE>

CENTURY  CASINOS,  INC.  AND  SUBSIDIARIES
NOTES TO CONDENSED  CONSOLIDATED  STATEMENTS (Unaudited)
(Dollar  amounts  in  thousands, except for share information)
-----------------------------------------------------------------
       In connection with the granting of a gaming license to CAL by the
       Western Cape Gambling and Racing Board in April 2000, CAL issued a
       total of 200 preference shares, 100 shares each to two minority
       shareholders. The preference shares are neither cumulative nor
       redeemable. The preference shares entitle the holders of such shares
       to dividends of 20% of the after-tax profits directly attributable to
       the CAL casino business subject to working capital and capital
       expenditure requirements and CAL loan obligations and liabilities as
       determined by the directors of CAL. Should the casino business be sold
       or otherwise dissolved, the preference shareholders are entitled to
       20% of any surplus directly attributable to the CAL casino business,
       net of all liabilities attributable to the CAL casino business. As of
       September 30, 2001, no dividends have been declared for the preference
       shareholders.


8.     CHANGE  IN  ACCOUNTING  PRINCIPLES  AND  RECENTLY  ISSUED  STANDARDS
       The Company adopted SFAS No. 133, "Accounting for Derivative
       Instruments and Hedging Activities", and SFAS No. 138, "Accounting for
       Certain Derivative Instruments and Certain Hedging Activities", in the
       first quarter of fiscal 2001. SFAS No. 133 establishes accounting and
       reporting standards for derivative instruments and hedging activities.
       The pronouncement requires that a company designate the intent of a
       derivative to which it is a party, and prescribes measurement and
       recognition criteria based on the intent and effectiveness of the
       designation. SFAS No. 138 amends the accounting and reporting
       standards for certain derivative instruments and certain hedging
       activities, including amendments to normal purchases and normal sales,
       interest rate risk, hedging recognized foreign currency denominated
       assets and liabilities and intercompany derivative provisions of SFAS
       No. 133. The cumulative effect of adopting SFAS No. 133 related to the
       Company's interest rate swap agreements was to decrease shareholders'
       equity as of January 1, 2001 by $175, net of related federal and state
       income tax benefits of $104. The adoption of SFAS No. 138 had no
       effect on the Company's financial statements.

       For 2001, the Company has adopted Emerging Issues Task Force
       (EITF) No. 00-14, "Accounting for Certain Sales Incentives" and EITF
       No. 00-22, "Accounting for Points an Certain Other Time-Based or
       Volume-Based Sales Incentive Offers, and Offers for Free Products or
       Services to be Delivered in the Future". EITF No. 00-14 requires that
       discounts which result in a reduction in or refund of the selling
       price of a product or service in a single exchange transaction be
       recorded as a reduction in revenue. As part of the Company's
       promotional activities, the Company offers "free plays" or coupons to
       its customers for gaming activity. The cost associated with these
       activities was previously recorded by the Company as casino expense
       when the "free plays" or coupons were used by customers. EITF No.
       00-22, "Accounting for Points and Certain Other Time-Based or
       Volume-Based Sales Incentive Offers, and Offers for Free Products or
       Services to be Delivered in the Future" requires that vendors
       recognize the cash rebate or refund obligation associated with time-
       or volume-based cash rebates as a reduction of revenue based on a
       "systematic and rational allocation of the cost of honoring rebates or
       refunds earned and claimed to each of the underlying revenue
       transactions that result in progress by the customer toward earning
       the rebate or refund." The liability for such obligations should be
       based on the estimated amount of rebates or refunds to be ultimately
       earned if it can be reasonably
       estimated. The Company's players' clubs allow customers to earn
       certain complimentary services and/or cash rebates based on the volume
       of the customers' gaming activity. Prior to adopting EITF No. 00-22
       the Company accounted for its players' clubs as a casino expense
       instead of a reduction in revenue. In 2001, the Company changed its
       classification of the charges which totaled $2,041 and $2,104 for the
       nine months ended September 30, 2001 and 2000, respectively, and $769
       and $736 for the three months ended September 30, 2001 and 2000,
       respectively; prior period amounts have been reclassified to be


                                       13
<PAGE>
CENTURY  CASINOS,  INC.  AND  SUBSIDIARIES
NOTES TO CONDENSED  CONSOLIDATED  STATEMENTS (Unaudited)
(Dollar  amounts  in  thousands, except for share information)
-----------------------------------------------------------------

       consistent with the current year periods. The reclassifications
       associated with the adoption of EITF Nos. 00-14 and 00-22 did not have
       any impact on net earnings or earnings per share amounts.

       In June 2001, the Financial Accounting Standards Board (the
       "FASB") adopted SFAS No. 141 Business Combinations and SFAS No. 142
       Goodwill and Intangible Assets. SFAS No. 141 addresses the methods used
       to account for business combinations and requires the use of the
       purchase method of accounting for all combinations after June 30,
       2001. SFAS No. 142 addresses the methods used to capitalize, amortize
       and to assess impairment of intangible assets, including goodwill
       resulting from business combinations accounted for under the purchase
       method. SFAS No. 142 is effective for fiscal years beginning after
       December 15, 2001. Included in assets at September 30, 2001 is
       unamortized goodwill of approximately $8,345. Upon adoption of SFAS
       No. 142, the Company will no longer amortize goodwill, decreasing
       amortization expense by approximately $1,425 per year. The Company
       will be required to assess goodwill for impairment in the year of
       adoption and at least annually thereafter. The Company will not be
       able to determine the full effect of these pronouncements on its
       financial position or results of its operations until it is able to
       complete its analysis of the impairment provisions of the new
       standards. In the event the Company's analysis under the new guidance
       indicates goodwill is impaired, it will be required to record a charge
       to its earnings in the year of adoption.
                                       14
<PAGE>
CENTURY  CASINOS,  INC.  AND  SUBSIDIARIES
NOTES TO CONDENSED  CONSOLIDATED  STATEMENTS (Unaudited)
(Dollar  amounts  in  thousands, except for share information)
-----------------------------------------------------------------

9.     SEGMENT  INFORMATION
       The Company is managed in four segments: United States, South
       Africa, Cruise Ships, and Corporate operations. Corporate operations
       include the revenue and expense of certain corporate gaming projects
       for which the Company has secured long term management contracts.
       Earnings before interest, taxes, depreciation and amortization
       (EBITDA) is not considered a measure of performance recognized as an
       accounting principle generally accepted in the United States of
       America. Management believes that EBITDA is a valuable measure of the
       relative performance amongst its operating segments. Segment
       information as of September 30, 2001 and for the three and nine months
       ended September 30, 2001 is presented below. Comparable information is
       not provided for 2000 because, during the first nine months of 2000,
       the Company operated as one identifiable segment, Cripple Creek,
       United States.
<TABLE>
<CAPTION>



<S>                               <C>                <C>            <C>            <C>                 <C>
As of September 30, 2001:         United        South    Cruise    Corporate    Intersegment     Consolidated
                                  States       Africa    Ships      & Other     Elimination
Property and equipment,
net of accumulated depreciation   $  19,326  $  10,586  $  232   $   1,823         -              $  31,967
Total Assets                      $  30,629  $  15,857  $  534   $   4,822      ($3,073)          $  48,769


For the three months ended September 30, 2001:

Net operating revenue             $   5,731  $   1,656  $  426   $      88          -             $   7,901
Depreciation & amortization       $     679  $     339  $   13   $      54          -             $   1,085
Interest  income                  $      15  $      19       -   $      88         ($85)          $      37
Interest expense,
including debt issuance cost      $     396  $     105       -   $      13         ($85)          $     429
Earnings(loss) before income taxes
and minority interest             $   1,770  $    (120) $  181   $    (205)           -           $   1,626
Income tax expense                $     814  $      64      -    $      30            -           $     908
Net earnings(loss)                $     956  $    (215) $  181   $    (235)           -           $     687
EBITDA                            $   2,830  $     274  $  194   $    (226)           -           $   3,072

</TABLE>

                                       15
<PAGE>
CENTURY  CASINOS,  INC.  AND  SUBSIDIARIES
NOTES TO CONDENSED  CONSOLIDATED  STATEMENTS (Unaudited)
(Dollar  amounts  in  thousands, except for share information)
-----------------------------------------------------------------
<TABLE>
<CAPTION>


<S>                               <C>                <C>            <C>            <C>                 <C>
                                  United        South    Cruise    Corporate    Intersegment     Consolidated
                                  States       Africa    Ships      & Other     Elimination

For the nine months ended September 30, 2001:

Net operating revenue             $  15,831  $   5,794  $  758   $     220          -             $  22,603
Depreciation & amortization       $   2,321  $   1,049  $   34   $     172          -             $   3,576
Interest  income                  $      15  $      45       -   $     267        ($256)          $      71
Interest expense,
including debt issuance cost      $   1,073  $     640       -   $      37        ($256)          $   1,494
Earnings(loss) before income taxes
and minority interest             $   4,294  $    (505) $  241   $  (1,004)           -           $   3,026
Income tax expense(benefit)       $   1,975  $    (117)      -   $    (427)           -           $   1,431
Net earnings(loss)                $   2,319  $    (254) $  241   $    (577)           -           $   1,729
EBITDA                            $   7,673  $   1,273  $  275   $  (1,062)           -           $   8,159

</TABLE>
                                       16
<PAGE>
CENTURY  CASINOS,  INC.  AND  SUBSIDIARIES
Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS
(Dollar  amounts  in  thousands, except for share information, or as noted)
---------------------------------------------------------------------------
       Forward-Looking Statements, Business Environment and Risk Factors

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

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

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


Results  of  Operations
Nine  Months  Ended  September  30,  2001  VS.  2000
----------------------------------------------------
       Net operating revenue for the first nine months of 2001 was
       $22,603 compared with $17,132 for the same period in 2000, an increase
       of 31.9%. Casino revenue increased from $18,485 in 2000 to $22,909 in
       2001, or 23.9%. The increase in casino revenue is attributable to the
       addition of the Caledon Casino and the cruise ship casino operations
       which provided $4,661 and $699, respectively. The Company's share of
       the Cripple Creek casino market was 16.7% through the first nine
       months of 2001 compared with 17.9% a year earlier. Womacks/Legends
       Casino operated 14.1% of the slot machines in the Cripple Creek market
       and achieved an average daily win per machine of $108 (one hundred and
       eight dollars) versus the Cripple Creek average of $90 (ninety
       dollars). Gross margin for the Company's casino activities (casino
       revenues, net of applicable casino gaming incentives, less casino
       expenses) decreased to 66.0% from 68.1% a year earlier, due primarily
       to the effects of the margin of 53.8% at the Caledon Casino which
       began operations in October 2000. The gross margin for the Company's
       other casino operations increased to 70.5% due primarily to the
       continued efforts to improve the casino operating efficiencies.

       Food and beverage revenue increased by 59.6% to $1,456 for the
       first nine months of 2001 compared with $912 in 2000. The increase is
       principally due to the opening of the Caledon Casino Hotel and Spa.
       The cost of food and beverage promotional allowances, which is
       included in casino costs, increased slightly to $690 compared with
       $613 in the prior year. Hotel revenue increased by 349% to $552 for
       the first nine months of 2001 compared with $123 in 2000. The increase
       is directly attributable to the opening of the Caledon Casino Hotel
       and Spa. The increase in hotel costs is associated with the operations
       of the hotel in Caledon, South Africa. Womacks/Legends Casino recently
       added 10 rooms to the original 8, bringing the total number of rooms
       in Cripple Creek to 18.

                                       17
<PAGE>
CENTURY  CASINOS,  INC.  AND  SUBSIDIARIES
Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS
(Dollar  amounts  in  thousands, except for share information, or as noted)
---------------------------------------------------------------------------
       General and administrative expense as a percentage of net
       operating revenue was 26.8% for the first nine months of 2001 compared
       with 32.5% in 2000. Included in first nine months of 2000 was the
       write-off of a non-compete agreement with a former officer/director in
       March 2000 and bonuses paid to certain officers/directors relating to
       the final payment received in January 2000 from the previous sale of
       the Company's interest in its Indiana riverboat gaming license.

       Depreciation expense increased to $2,507 in the first nine months
       of 2001 from $1,574 in same period of 2000, primarily due to the
       acquisition of fixed assets for the Caledon Casino, Hotel and Spa
       which opened in October 2000. Amortization of goodwill in the first
       nine months of 2001 increased to $1,069 from $1,006 in the same period
       of 2000 as a result of the goodwill recognized in the stock
       acquisition of CAL in November 2000.

       Other income (expense), net, for the first nine months of 2001
       consists primarily of net interest costs of $1,423, plus $57 related
       to the write-down of the value of non-operating casino property and
       land which the Company owns, offset by gains on the disposal of fixed
       assets totaling $14. Other income (expense), net, for the first nine
       months of 2000 consists of $1,380 from the final payment received in
       January by the Company from the sale of its interest in a riverboat
       gaming license in Indiana and gains on the disposal of fixed assets
       totaling $44, offset by net interest costs of $892. The increase in
       interest expense is principally due to the increase in outstanding
       long-term debt associated with the stock acquisition of CAL and
       continued improvements to the property in Caledon, South Africa.

       The income tax provisions for the nine months ended September 30,
       2001 and 2000, are based on estimated full-year earnings for financial
       reporting purposes adjusted for permanent book-tax differences,
       consisting primarily of nondeductible goodwill amortization.


       Liquidity  and  Capital  Resources

       Cash and cash equivalents totaled $3,293 at September 30, 2001,
       and the Company had net deficit working capital of $1,209. Additional
       liquidity is provided by the Company's revolving credit facility
       ("RCF") with Wells Fargo Bank, under which the Company had a total
       commitment of $26,000 ($23,111, net of the quarterly reduction) and
       unused borrowing capacity of approximately $11,172 at September 30,
       2001. For the nine months ended September 30, 2001, cash provided by
       operating activities was $4,459 compared with $3,094 in the prior-year
       period. Cash used in investing activities of $3,574 for the first nine
       months of 2001 consisted of $2,141 in improvements to the Caledon
       Casino Hotel and Spa in South Africa, $997 to the Womacks/Legends
       casino in Cripple Creek, Colorado, and the balance was due to
       expenditures for other long-lived assets. Cash used in financing
       activities for the first nine months of 2001 consisted of net
       repayments of $6,701 under the RCF with Wells Fargo, net borrowings of
       $1,298 under the PSG loan agreements, the repurchase of the company's
       stock on the open market, with a cost of $552, and other net
       repayments of $498.

       An August 2001 amendment to the RCF eliminated the permitted
       distribution carve outs, thereby allowing the Company to utilize the
       unused borrowing capacity to meet all of its future business growth
       activities.
                                       18
<PAGE>
CENTURY  CASINOS,  INC.  AND  SUBSIDIARIES
Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS
(Dollar  amounts  in  thousands, except for share information, or as noted)
---------------------------------------------------------------------------
       In April 2000, the Century Casinos Caledon (Pty) Ltd. ("CAL") was
       awarded a gaming license for a casino at a 92-room resort hotel and
       spa in Caledon, province of the Western Cape, South Africa, and the
       Company's subsidiary, Century Casinos Africa (Pty) Ltd ("CCA"),
       acquired a 50% equity interest in CAL. The Company made an initial
       equity investment of approximately $1,534 in and loans totaling
       approximately $2,302 to CAL with borrowings obtained under the
       Company's RCF. CCA has a ten-year casino management agreement with
       CAL, which agreement may be extended at the Company's option for
       multiple ten-year periods. The Company, through CCA, will earn
       management fees based on percentages of annual gaming revenue and
       earnings before interest, income taxes, depreciation, amortization and
       certain other costs. The casino opened on October 11, 2000 with 250
       slot machines and 14 gaming tables. In addition to the casino license,
       hotel and spa, CAL owns approximately 600 acres of land (representing
       approximately 230 hectares), which can be used for future expansion of
       the Caledon project. In November 2000, the Company, through CCA,
       acquired an additional 15% of CAL, raising its ownership in CAL to
       65%. The acquisition of the additional interest was completed with the
       payment of approximately $1,800 by Century to COIL in exchange for 15%
       of the total shares of common stock of CAL (valued at approximately
       $1,200) and a shareholder loan to CAL previously held by COIL (with a
       value of approximately $600). In April 2000, CAL entered into a loan
       agreement with PSG Investment Bank Limited("PSGIB"), which provides
       for a principal loan of approximately $5,264 at the exchange rate as
       of September 30, 2001 to fund development of the Caledon project and a
       working capital facility of approximately $1,100 at the exchange rate
       as of September 30, 2001. As of September 30, 2001, the entire amount
       has been advanced against the loan. In January 2001, CAL cancelled the
       working capital facility based on management's ability to obtain more
       favorable terms. In April 2001, CAL entered into an addendum to the
       loan agreement in which PSGIB provided CAL with a standby facility in
       the amount of approximately $500 at the exchange rate as of September
       30, 2001. CAL is required to make principal payments, beginning
       December 2001, in semi-annual installments continuing over a five-year
       period. Outstanding borrowings under the standby facility bear
       interest at 15.1%. As of September 30, 2001, CAL had drawn the entire
       amount of the standby facility.

       The Company has a 20-year agreement with Casino Millennium a.s.,
       a Czech company, to operate a casino in the five-star Marriott Hotel,
       in Prague, Czech Republic. The hotel and casino opened in July 1999.
       The Company provides casino management services in exchange for ten
       percent of the casino's gross revenue and leases gaming equipment,
       with an original cost of approximately $1,200, to the casino for 45%
       of the casino's net profit. In January 2000, the Company entered into
       a memorandum of agreement with B. H. Centrum, a Czech company which
       owns the hotel and casino facility, to acquire the operations of the
       casino by either a joint acquisition of Casino Millennium a.s. or the
       formation of a new joint venture. The transaction, if completed, would
       result in the Company having a 50% equity interest in Casino
       Millennium. Any funding required by the Company to consummate this
       transaction would be met through a combination of RCF borrowings,
       existing liquidity and anticipated cash flow. The Company is in the
       process of negotiating a definitive purchase agreement.


       In May 2000, the Company entered into a five-year casino
       concession agreement with a cruise line for casino operations aboard
       four cruise vessels. The Company pays fees to the owner of the vessels
       based on gross gaming revenue, as defined, in excess
       of an established per passenger per day amount. In August 2000, the
       Company entered into a similar agreement to serve as concessionaire of
       a small casino aboard a vessel designed to be an exclusive residential
       community at sea. On September 18, 2000 the Company announced the
       opening of the first of four casinos aboard the cruise vessels. In
       October 2000, the Company opened a second casino and, in November
       2000, opened a third aboard a luxury cruise vessel. The maiden voyage
       of the fourth vessel occurred in June 2001. Both agreements require
       the Company to provide all necessary gaming equipment, $271 of which
       the Company purchased during the second half of 2000 and the first
       nine months of 2001. The Company estimates the remaining cost at
       approximately $40.
                                       19
<PAGE>

CENTURY  CASINOS,  INC.  AND  SUBSIDIARIES
Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS
(Dollar  amounts  in  thousands, except for share information, or as noted)
---------------------------------------------------------------------------
       The Company's Board of Directors has approved a discretionary
       program to repurchase up to $5,000 of the Company's outstanding common
       stock. The Board believes that the Company's stock is undervalued in
       the current trading market in relation to both its present operations
       and its future prospects. During the first nine months of 2001, the
       Company purchased 278,500 additional shares at an average cost per
       share of $1.98. Beginning in 1998 and through September 30, 2001, the
       Company has repurchased a total of 2,128,300 shares at a total cost of
       approximately $2,834. Management expects to continue to review the
       market price of the Company's stock and repurchase shares as
       appropriate, with funds coming from existing liquidity or borrowings
       under the RCF.

       The Company is the contracted casino management partner and, as
       of September 2001, through its South African subsidiary, CCA, entered
       into an agreement to secure a 50% ownership interest in Rhino Resort
       Ltd. ("Rhino"), a consortium which includes Silverstar Development
       Ltd. ("Silverstar"). Rhino has submitted an application for a proposed
       400 million rand ($44,500 at the exchange rate as of September 30,
       2001) hotel/casino resort development in the greater Johannesburg area
       of South Africa. The value of the proposed development fluctuates with
       the USD/Rand exchange rate. In the event that Rhino is awarded a
       license, the Company, as part of the September 2001 agreement, would
       be required to make an equity investment of approximately 40 million
       rand or $4,400 at the exchange rate as of September 30, 2001. This
       funding requirement would be met through borrowings under the RCF. The
       Company has also projected additional development costs of up to $500
       which could be incurred by the Company related to this project. In
       July 2001, the Gauteng Gambling Board held an official hearing
       regarding the license application of Rhino. This is the only
       application being considered for the sixth and final gaming license in
       the Gauteng Province of South Africa. The Company anticipates that a
       final determination on this license application could be made during
       the fourth quarter of 2001. At the present time, however, there can be
       no certainty regarding an award of this gaming license or that this
       license will ultimately be awarded to the Rhino consortium.

       Management believes that the Company's cash at September 30,
       2001, together with expected cash flows from operations and borrowing
       capacity under the RCF, will be sufficient to fund its anticipated
       capital expenditures, pursue additional business growth opportunities
       for the foreseeable future, and satisfy its debt repayment
       obligations.
*  *  *  *  *  *  *  *  *  *  *  *  *  *  *  *
                                       20
<PAGE>


<PAGE>
PART  II

OTHER  INFORMATION

Item 1. - Legal Proceedings
          The Company is not a party to, nor is it aware of, any pending
          or threatened litigation which, in management's opinion, could
          have a material adverse effect on the Company's financial
          position or results of operations.

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

         (a)     Exhibits:
                 11.01     First  Amendment  to the Amended and Restated
                           Credit Agreement, by and among,  WMCK  Venture
                           Corp.,  Century  Casinos  Cripple  Creek,  Inc.,
                           and WMCK Acquisition  Corp.  (collectively,
                           the "Borrowers"), Century Casinos, Inc. (the
                           "Guarantor")  and Wells Fargo Bank, National
                           Association, dated August 22, 2001.

         (b)     Reports  on  Form  8-K:
                 No  reports  on Form 8-K were filed during the quarter
                 ended September 30, 2001.
                                  * * * * * * *
SIGNATURES:
Pursuant  to the Securities Exchange Act of 1934, the Registrant has duly caused
this  report  to  be  signed  on  its  behalf  by the undersigned thereunto duly
authorized.

CENTURY  CASINOS,  INC.

/s/  Larry  Hannappel
___________________________
Larry  Hannappel
Chief  Accounting  Officer  and  duly  authorized  officer
Date:  November  12,  2001

                                       21
<PAGE>