This Casino Consulting Agreement ("Agreement") is entered into by and between:


*  RHODES CASINO S.A. ("Owner") duly represented by
*  Mr. Theod. Charagionis and George Stamatakis
*  CENTURY CASINOS INC. (Century) duly represented by
*  Mr. Peter Hoetzinger
*  PLAYBOY GAMING  INTERNATIONAL LTD ("Playboy") duly represented
   by Mr. Garry Saunders
   as of March 25, 1998

                                    RECITALS

WHEREAS,  Century is a party to a Casino  Management  Consulting  Agreement (the
"Consulting  Agreement")  dated  October 12, 1995 with Owner for a  hotel/casino
complex on the island of Rhodes, Greece (the "Complex");

WHEREAS,  Playboy is willing to provide management services under the Consulting
Agreement,   Century  is  willing  to  assign  its  rights  and   delegate   its
responsibilities  under the Consulting Agreement to Playboy and Owner is willing
to agree to such assignment and delegation;

NOW, THEREFORE,  in consideration of the mutual promises herein contained, it is
mutually agreed as follows:

1.   All of the Recitals are restated and made a part hereof.

2.   Century will be relieved of all obligations under the Consulting  Agreement
     except to the extent that:

     a.  Playboy, on behalf of owner,  requests certain consulting services,  in
         which case  Century  will  provide  those  services at the rate of U.S.
         $1,000 per day plus  reasonable out of pocket  expenses [which shall be
         payable  within  ten (10)  business  days  after  Playboy's  receipt of
         invoice for same] by Playboy, unless expressly otherwise agreed;

     b.  subsequent  to the  opening  of the  Complex,  if  Playboy is unable or
         unwilling to manage the Complex,  this  Agreement will be null and void
         and Century will remain obligated to perform its obligations  under the
         Consulting  Agreement  and  entitled  to all of its  rights  under  the
         Consulting  Agreement,  Including,  but not  limited  to,  the right to
         receive all fees and other  payments net of any amounts paid to Century
         hereunder or under the Consulting Agreement.

3.   Except as provided in  paragraph  2, above,  all  payments  due Century  by
     Owner under the Consulting Agreement will be made by Owner to Playboy.


<PAGE>


4.   Playboy will pay Century U.S. $25,000 for the Complex's  pre-opening period
     (payable on execution of this  Agreement by all of the parties  hereto) and
     U.S.  $50,  000 for each of the  first  three  (3)  years of the  Complex's
     operation (payable in equal installments at the end of the first and second
     quarters of each such fiscal  years).  Except for any  payments due Century
     under this  paragraph 4 and paragraph 2 as above,  Century will be entitled
     to no other payments under the Consulting Agreement.

5.   Upon the execution of this  Agreement,  the  Consulting  Agreement  will be
     terminated and Century will have no claim, liability,  right, or obligation
     under the Consulting Agreement, subject only to paragraph 2, hereof.

6.   Playboy  and  Century  and Owner will  initially  approve any press or news
     release concerning the subject matter of this Agreement.

7.   This Agreement  represents the entire  understanding of the parties hereto.
     None of the terms of this Agreement can be waived or modified  except by an
     express agreement in writing signed by the parties hereto.

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed
by the duly authorized representative of each.

This Agreement is signed in five (5) copies, distributed as follows:

*  RHODES CASINO S.A.                                             3 copies
*  PLAYBOY GAMING INTERNATIONAL LTD                               1 copy
*  CENTURY CASINOS INC.                                           1 copy

and represents the binding obligations of the parties hereto.

RHODES CASINO S.A.

By /s/ Theod. Charagionis                         By /s/ George Stamatakis
       -------------------------------------             -----------------------
Name:  Th. Charagionis                             Name: G. Stamatakis

CENTURY CASINOS INC.

By /s/ Peter Hoetzinger
       -------------------------------------
Name:  P. Hoetzinger

PLAYBOY GAMING INTERNATIONAL INC.

By /s/ Garry W. Saunders
       -------------------------------------
Name:  G. Saunders