MASTER LEASE AGREEMENT
                      Date of MASTER LEASE: January 4, 1999
                                            ---------
<TABLE>
<CAPTION>

<PAGE>

<S>                                                                                <C>

LESSOR:                                                                            LESSEE:
CENTURY MANAGEMENT- UND B. GMBH                                                    CASINO MILLENNIUM A.S.
An Austrian Corporation ("LESSOR"), at                                             A Czech corporation ("LESSEE"), at
Lerchengasse 2                                                                     Na Vaclavce 14
2340 Moedling, Austria                                                             Praha 1, Czech Republic

</TABLE>


                                    RECITALS

WHERAS,  LESSOR  desires to lease certain equipment to LESSEE and LESSEE desires
to  lease  certain  equipment  from  LESSOR;  and

WHEREAS,  to  facilitate  the lease of the equipment, the parties agree to enter
into  this  MASTER LEASE and to incorporate by reference from time to time lease
schedules  for  various  units  of  equipment.

NOW,  THEREFORE,  in  consideration  of the mutual promises contained herein and
other  good  and  valuable  consideration,  the parties hereto agree as follows:

                    TERMS, CONDITIONS AND COVENANTS OF LEASE

1.     This  MASTER  LEASE  sets  forth the terms and conditions by which LESSOR
agrees  to  lease to LESSEE and LESSEE agrees to lease from LESSOR the equipment
as  listed  and  described  in  each  lease schedule (hereinafter referred to as
"Lease Schedule") executed from time to time pursuant to this MASTER LEASE. Each
Lease  Schedule  shall  be  separate  and  distinct  for  all purposes and shall
incorporate therein all the Terms and conditions of this MASTER LEASE.  If there
is  a  conflict  between the Lease Schedule and this MASTER LEASE, the terms and
conditions  of  this  MASTER  LEASE  shall  govern  and  control.

2.     TERM:

a.     The  term  of  this  MASTER LEASE shall begin on the date of execution by
both  LESSOR  and  LESSEE  and  shall continue in effect thereafter until all of
LESSEE'S  obligations  and  liabilities  under this MASTER LEASE and every Lease
Schedule  have  been  fully  performed  or  otherwise  discharged.

b.     The  lease  term for each Lease Schedule shall commence on the earlier of
the  equipment  installation,  first  use,  or the Opening Date of the Casino as
defined  in  the  Casino  Services  Agreement between LESSEE and Century Casinos
Management,  Inc.  (hereinafter  referred  to as "Commencement Date"). The lease
term  shall  continue  for  the number of months or years set forth in the Lease
Schedule  (hereinafter  referred  to  as  "Initial  Term")  and continue for any
extended  or  renewal  term. The first payment date of the Initial Term shall be
the  first  day  of  the  month  immediately following the Commencement Date (or
beginning  on  the  Commencement  Date  if  that date is on the first day of the
month).

c.     LESSEE  shall  deliver  to LESSOR a Certificate of Acceptance within five
(5) days of the Commencement Date. If LESSEE fails to deliver the Certificate of
Acceptance,  LESSEE  shall be deemed to have accepted the equipment as installed
and  operational  as of the Commencement Date unless LESSEE gives LESSOR written
notice  of  each  defect  within  five  (5)  days  of  the  Commencement  Date.



<PAGE>
3.     RENT  AND  PAYMENTS:  LESSEE'S  obligation  to  pay rent under each Lease
Schedule  shall  begin  on  the Commencement Date and continue for the term. The
monthly  rent (hereinafter referred to as "Monthly Rent") set forth in the Lease
Schedule  shall  be  due and payable monthly in arrears within five days of each
calendar  month for the month before the preceding month during the Initial Term
without  notice  or  demand  notwithstanding  the fact that LESSOR shall invoice
LESSEE.  If  the  Commencement  Date of a Lease Schedule shall be other than the
first day of the month, LESSEE shall make a rental payment (hereinafter referred
to as "Interim Rent") equal to 1/30th of the Monthly Rent set forth in the Lease
Schedule  for each day beginning with the Commencement Date to and including the
last  day  of  the month prior to the beginning of the Initial Term. Any amounts
payable  by  LESSEE  under  this  MASTER  LEASE  other than the Monthly Rent and
Interim  Rent  shall be deemed to be additional rent (hereinafter referred to as
"Additional  Rent")  and  shall  be paid within twenty (20) days of invoicing by
LESSOR. Rent shall be paid to LESSOR at the address designated herein or at such
other  place as LESSOR designates in writing, or if to an assignee of LESSOR, at
such  place  as  such  assignee  shall  designate  in  writing, by check or wire
transfer  so  that all funds are immediately available. As used herein, the term
"rents" shall mean all Monthly Rent, Interim Rent and Additional Rent. THIS IS A
     -
NONCANCELABLE  LEASE.  LESSEE  shall  pay the total rents for the entire term to
LESSOR,  or  LESSOR'S  assignee, and such payment of rents shall be absolute and
unconditional  without  right  to  setoff,  reduction,  abatement, counterclaim,
recoupment,  or  defense  of  any  kind  whatsoever.

a.     SERVICE  CHARGE:  In the event that any rent is not received by LESSOR or
LESSOR'S assignee within five (5) days of the due date thereof, LESSEE shall pay
a  penalty  in  the amount equal to 3% (three percent) per annum above the Czech
interbank  base  interest rate in respect of the outstanding rent, for every day
that the said rent remains outstanding. The penalty shall be payable at the same
time  as  the  payment of the arrears. In the event of default of payment of the
penalty,  the  penalty shall continue to be charged at the same rate until it is
paid.  By  payment  of  such  default  interest  the  LESSOR's  right  to  claim
compensation for damages arisen as a result of the said default is not affected
b.     LEASE  BASIS  COST:  The term "Lease Basis Cost" as defined  herein means
the cost of acquiring, delivering and installing the equipment including but not
limited to all parts, materials, labor, services, transportation, taxes, and all
other  charges  of  every  kind  and  nature  associated  therewith.
c.     NON-PERFORMANCE:  If  LESSEE  fails  to  perform  any  of  its covenants,
warranties,  terms  or  conditions herein, LESSOR may, at its option, perform on
LESSEE's behalf and all monies advanced by LESSOR, if any, shall be repayable by
LESSEE  as  Additional  Rent. However, in no event shall LESSOR'S performance on
behalf  of  LESSEE  be  deemed  to  relieve LESSEE of its obligations hereunder.

4.     LEGAL  TITLE,  LIENS  AND QUIET ENJOYMENT: During the term of this MASTER
LEASE,  legal  title  to  all equipment, including software, wiring and cabling,
shall  at  all times vest in LESSOR. LESSEE'S interest in the equipment shall be
limited to its possession and use and LESSEE shall not have or assert any right,
title  or  interest  therein,  except  as  expressly set forth herein, and shall
protect,  indemnify  and  defend,  at  its expense, LESSOR'S legal title. LESSEE
shall,  at  its  expense,  keep  the  equipment  free  and  clear of any lien or
encumbrance  of  any  kind  whatsoever  except that of LESSOR arising hereunder.
LESSEE  warrants  that the equipment will at all times remain personal property,
regardless  of  how  it  may  be affixed to any real property. Prior to LESSOR'S
acceptance  of  this MASTER LEASE, LESSEE shall provide LESSOR with a waiver, in
form satisfactory to LESSOR, by any person having an interest in the premises in
which  the equipment is located, of such landlord's or mortgagee's rights in and
to  the  equipment  and/or the rent due under this MASTER LEASE. In lieu of such
waiver,  LESSEE  HEREBY AGREES TO HOLD LESSOR harmless and indemnify LESSOR with
regard  to  any  and  all  claims,  actions,  damages,  costs and attorneys fees
asserted  by  any  landlord or mortgagee against LESSOR or the equipment herein.
LESSOR shall have the right to affix a stencil, plate, label or other indicia of
its  ownership  to  the  equipment  and  LESSEE shall not remove or conceal such
identification.  LESSEE shall have the right to quiet enjoyment of the equipment
during the term of the Lease Schedule, so long as no Event of Default (as herein
defined)  occurs.

5.     TAXES:  LESSEE  shall  pay  all taxes, including but not limited to value
added tax, any import duties and levies all assessments or fees assessed against
the  equipment,  including all accessories, attachments and upgrades, or payable
by  LESSOR  or  LESSEE  with respect to the equipment, including any interest or
penalties therein, excepting only federal or state taxes based on the net income
of  LESSOR.


<PAGE>
6.     LOCATION,  USE,  MODIFICATIONS AND ALTERATIONS: LESSEE shall not move, or
permit the movement of, the equipment from the location (hereinafter referred to
as  "Equipment Location") specified in the Lease Schedule without LESSOR'S prior
written  consent.  LESSEE  shall  not  use,  or permit the use of, the equipment
unless  such  use  is  consistent  with  LESSEE'S  business,  by Century Casinos
Management,  Inc.  (or  any  of its assigns or affiliates) as operators/managers
under  LESSEE'S  control  and  in  compliance  with  (A)  applicable  laws  and
regulations;  (B)  the  specifications  of,  and  use  contemplated  by,  the
manufacturer  of  the equipment (hereinafter referred to as "Manufacturer"); (C)
the  terms  of  LESSEE'S insurance coverage and (D) the requirements of LESSEE'S
maintenance  agreement  regarding  the  equipment.  LESSEE shall not discontinue
using  the  equipment for any extended period of time. LESSEE shall not make any
modifications,  alterations or additions to the equipment without LESSOR'S prior
written  consent (other than manufacturer's changes, as such term is hereinafter
defined)  unless  said  additions  (A) are readily removable without causing any
damage  to  the equipment and (B) do not impair the quality, safety, function or
marketability  of  the  equipment  (hereinafter  referred  to  as  a  "Permitted
Modification").  Any  Permitted  Modification  shall  not become the property of
LESSOR  and  shall  not  be  subject  to  the Lease Schedule, provided that upon
termination  or  expiration  of  the  term,  LESSEE  shall  remove all Permitted
Modifications and restore the equipment to its original condition (ordinary wear
and  tear  excepted),  all  at  no  expense  to  LESSOR. LESSEE shall permit the
Manufacturer,  its  agents  or  its contractors, access to the equipment for the
purpose of performing such upgrades, recall orders or engineering changes as the
Manufacturer  shall  require  to enhance or maintain the equipment's standard of
performance  (herein  defined  as  "Manufacturer's  Changes), all of which shall
immediately  become the property of LESSOR and be subject to the Lease Schedule.

7.     MAINTENANCE AND INSPECTION: THIS IS A NET LEASE. LESSEE shall, at its own
expense,  maintain  the  equipment  in good condition and repair and furnish all
necessary  repairs,  parts,  materials and supplies. At all times herein, LESSEE
shall  keep  in  full  force  and  effect  a  maintenance  agreement  with  the
Manufacturer  or, with LESSOR'S consent, with an equivalent service organization
that  routinely maintains such equipment (hereinafter referred to as "Equivalent
Service  Organization").  LESSEE  shall  also  create  and  preserve maintenance
records  on  the  equipment.  During  reasonable  business  hours and subject to
LESSEE'S  reasonable  security precautions, LESSEE shall permit LESSOR access to
all of the equipment for the purpose of inspecting the equipment and maintenance
records  to  determine  LESSEE'S compliance with this MASTER LEASE. If LESSEE is
not  in compliance with this MASTER LEASE, LESSOR shall notify LESSEE in writing
of  the  acts  of  noncompliance  and  LESSEE  shall immediately cease using the
equipment  until  full compliance is achieved or LESSOR shall have a maintenance
agreement  put  in  place  and  invoice  the  LESSEE  for  charges  incurred.

8.     DISCCLAIMER  OF  WARRANTIES:  LESSEE  has  selected  at  its own risk the
Manufacturer,  size and design of the equipment in accordance with the terms and
conditions  of  the purchase order which LESSEE has issued, or induced LESSOR to
issue.  LESSEE  acknowledges the LESSOR is not the Manufacturer, or its agent or
distributor,  and  that  LESSOR MAKES NO REPRESENTATIONS OR WARRANTY OF ANY KIND
WHATSOEVER,  EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO REPRESENTATIONS OR
WARRANTIES  WITH  RESPECT  TO  THE  MERCHANTABILITY,  VALUE, CONDITION, QUALITY,
DESIGN,  CAPACITY,  MATERIAL,  WORKMANSHIP  OR  FITNESS  OR  SUITABILITY FOR ANY
PURPOSE OR USE BY LESSEE, OR PATENT, COPYRIGHT OR TRADEMARK INFRINGEMENT. LESSOR
SHALL  NOT  BE LIABLE FOR LOSSES OR DAMAGES THEREFROM, INCLUDING BUT NOT LIMITED
TO  LOSS  OF  BUSINESS,  OR  ACTUAL  OR  ANTICIPATED  PROFITS,  OR OTHER DIRECT,
INCIDENTAL  OR  CONSEQUENTIAL  DAMAGES  OF  ANY KIND WHATSOEVER ARISING ROM THIS
MASTER  LEASE  OR  THE  EQUIPMENT.  So  long  as  no Event of Default (as herein
defined)  has  occurred  and  continues  uncured,  LESSOR  assigns LESSEE all of
Manufacturer's  warranties  and indemnification's, to the extent said warranties
and  indemnification's  are  assignable.


<PAGE>
9.     RISK  OF  LOSS:  LESSEE  hereby assumes and shall bear the entire risk of
changes to, loss, theft, damage, destruction or seizure (hereinafter referred to
as  "Event  of  Loss") of the equipment from every cause whatsoever. No Event of
Loss shall relieve LESSEE of its obligations to pay rent or to perform any other
obligation  under  this  MASTER  LEASE.  If  any of the equipment is damaged and
repairable,  LESSEE  shall promptly notify LESSOR of the occurrence of the Event
of  Loss and shall, at LESSEE'S expense within thirty (30) days of such Event of
Loss,  cause  repairs to be made to the equipment to restore it to the condition
required pursuant to Section 6 herein. If the equipment is damaged beyond repair
or lost, stolen, destroyed or seized, LESSEE shall promptly notify LESSOR of the
occurrence  of  the  Event  of Loss and shall, at LESSEE'S expense within thirty
(30)  days  of  the  Event of Loss, replace the equipment with like equipment in
good repair and working order, causing title to vest in LESSOR free and clear of
all  liens,  claims  and  encumbrances.

10.     INSURANCE:  LESSEE  shall  provide  and  maintain,  at its sole cost and
expense:  (1)  all  risk  property  insurance  on  the  equipment  for  its full
replacement  value  in  an  amount  no  less  than  the  Casualty Value, and (2)
comprehensive public liability and property damage insurance on the equipment in
amounts  not less than ATS ______________ per occurrence and ATS_____________ in
the  aggregate,  with an insurer reasonably acceptable to LESSOR considering the
risks  to  be  insured.  LESSEE  shall  provide LESSOR or its assigns (in a form
acceptable  to  LESSOR)  with  certificates  of  insurance  and  a  loss payable
endorsement  in  favor  of  LESSOR  and  its assigns, as loss payee for property
damage  coverage and as additional insured for public liability coverage. LESSEE
shall  provide  a  copy of the insurance policy under which the certificates are
issued  to  LESSOR.  The  insurance  endorsement shall provide that the coverage
shall  not  be  materially  altered  or  cancelled unless thirty (30) days prior
written  notice  has been given to LESSOR and its assigns, and that the coverage
afforded  to  LESSOR  and  its  assigns,  shall  not  be  rescinded, impaired or
invalidated  by  any act or omission of LESSEE. LESSOR may apply proceeds of any
such  insurance  to  any of LESSEE'S obligations hereunder, but shall pay excess
proceeds,  if  any, to LESSEE upon LESSEE'S full satisfaction of its obligations
hereunder.

11.     GENERAL  INDEMNIFICATION:  Except  for  liability arising from the gross
negligence  or  willful  misconduct  of  LESSOR, its employees or agents, LESSEE
hereby  agrees  to  indemnify,  defend,  protect  and  hold  LESSOR, its agents,
employees,  directors  and assigns harmless from and against any and all claims,
losses, damages, injuries, suits, demands or expenses, including but not limited
to  attorney's fees and costs of whatever kind and nature, arising in connection
with  the  equipment,  including  without  limitation  its  selection, purchase,
installation,  use,  de-installation, delivery, return or manufacture (including
without  limitation  patent,  trademark  or  other  infringement).  LESSEE shall
promptly  notify LESSOR or its assigns of any matter hereby indemnified against.

12.     RETURN  OF  EQUIPMENT:  Upon  the  expiration  of  any Lease Schedule or
termination  for  any  other  cause,  LESSEE  at is sole cost and expense, shall
assemble,  crate,  insure  and  deliver all of the equipment, including cabling,
wiring,  attachments  and  accessories  thereto, and all operating manuals along
with  maintenance  and  service  records  relating thereto, subject to the Lease
Schedule,  to  LESSOR  in  the  same good condition and repair as when received,
ordinary  wear and tear excepted, to such destination as LESSOR shall designate.


<PAGE>
13.     LESSEE'S  REPRESENTATIONS AND WARRANTIES: LESSEE represents and warrants
to  LESSOR  with  regard  to  this  MASTER  LEASE  and each Lease Schedule to be
executed  hereunder  that:

a.     The execution, delivery and performance of the MASTER LEASE and any Lease
Schedule have been duly authorized by all necessary action on the part of LESSEE
and  this  MASTER  LEASE  constitutes  a  valid and binding obligation of LESSEE
enforceable  against  LESSEE  in  accordance  with  its  terms;
b.     The  individual(s)  executing the MASTER LEASE on behalf of the LESSEE is
(are)  duly  authorized;
c.     Neither  the execution or delivery by LESSEE of the MASTER LEASE, nor the
performance  thereof  by  LESSEE,  conflicts  with,  results  in  a breach of or
constitutes  a  default  or  violation of LESSEE'S Certificate of Incorporation,
By-Laws,  Statutes,  applicable  law,  court  order  or  any  agreement or other
instrument  to  which  LESSEE  is  a  party  or  by  which  it  is  bound;
d.     LESSEE  is  duly  organized  and  in  good  standing  in  its  state  of
incorporation,  will be duly qualified to do business in each jurisdiction where
the  equipment  is  located  and  where  such  qualification  is  required;
e.     Upon  request  by  LESSOR,  LESSEE  shall furnish its most recent audited
annual  financial  statements  prepared  in  accordance  with generally accepted
accounting  principles;
f.     LESSEE  shall  provide to LESSOR any other documents reasonably requested
to  consummate  this transaction or any Lease Schedule or as reasonably required
under  this  MASTER  LEASE;
g.     No  approval,  consent or authorization is required from any governmental
authority  with respect to the execution, delivery or performance of this MASTER
LEASE, or if any such approval, consent or authorization is required, it will be
obtained.

14.     EVENT  OF  DEFAULT:  The occurrence of any of the following events shall
constitute  an  event of default by LESSEE (hereinafter referred to as an "Event
of  Default")

a.     Failure  to  pay  when  due  any  installment  of  rent  or other sum due
hereunder,  and  such  failure  shall  continue  for more than five (5) days; or
b.     Failure  to perform any other term or condition, covenant, representation
or  warranty  of  this  MASTER  LEASE  or  any  Lease Schedule, and such failure
continues  for  a  period  of  twenty  (20)  days  after  notice  thereof;  or
c.     If  LESSEE  ceases  doing business as a going concern, becomes insolvent,
admits  in  writing  its inability to pay its debts as they become due, makes as
assignment for the benefit of its creditors, file a voluntary petition or answer
seeking any reorganization, arrangement, composition, readjustment, liquidation,
dissolution  or  similar  relief  under  any  present or future federal or state
statue,  law or regulation, admits, consents to or acquiesces in the appointment
of  a  receiver  or trustee of any of its property, the commission of any act of
dissolution, liquidation or the bankruptcy or death of the LESSEE'S guarantor in
the  event  that  the  guarantor  is  a  natural  person;  or
d.     If  LESSEE  voluntarily  or  involuntarily  permits  the  Equipment to be
subject  to  a  lien, the event will be a breach of LESSEE'S covenants under the
MASTER  LEASE;  or
e.     Failure  within  sixty (60) days after the commencement of any proceeding
against  LESSEE  seeking  any  reorganization,  arrangement,  composition,
readjustment,  liquidation,  dissolution, bankruptcy or similar relief under any
current  or  future  federal  or  state statute, law or regulation to obtain the
dismissal  of  such  proceeding;  or
f.     If  any  warranty, covenant or representation made by LESSEE to LESSOR is
false,  incorrect or untrue in any material respect; or if any equipment subject
to  a Lease Schedule is attached, levied upon, encumbered, pledged or seized; or
LESSEE defaults under any other agreement with LESSOR or LESSOR'S Affiliates; or
defaults  under any other material lease, loan or agreement for the borrowing of
money;  or
g.     If  the LESSEE is a corporation, a controlling interest of the stock of a
corporate  lessee  is  transferred (whether in increments or on one occasion) to
person(s)  or  other  legal  entities  other than those holding said controlling
interests  at  the  date  of  execution  of  the  MASTER  LEASE;  or
h.     There  is a material adverse change in the financial condition of LESSEE;
or
i.     There  is  a  change  in  the  Use  of  Equipment;  or
j.     If  Century Casinos Management, Inc. (or its assigns or affiliates) is no
longer  managing/operating  under  a  Casino  Services Agreement with LESSEE; or
k.     If  the  composition  of  the  board of directors or supervisory board of
LESSEE  is  changed  without  LESSOR'S  prior  written  consent;  or
l.     If  LESSEE'S  shareholders  sell,  pledge  or  otherwise dispose of their
shares  in  LESSEE  without  LESSOR'S  prior  written  consent;  or
m.     If  any of LESSEE'S shareholders shall give notice or otherwise terminate
the  effectiveness  of  the  Power  of  Attorney  delivered  to  the  LESSOR.


<PAGE>
15.     REMEDIES:  At  any time after an Event of Default, LESSOR shall have the
right  to  immediately  exercise  any  one  or  more of the following cumulative
remedies:

a.     Accelerate without notice to LESSEE all of LESSEE'S obligations hereunder
and  to  sue  for and recover all rents and other amounts which have accrued and
would be payable for six months following the Event of Default under this MASTER
LEASE,  all  of  which  shall  become immediately due and payable upon demand by
LESSOR;
b.     Require  that  LESSEE  assemble the equipment and deliver it to LESSOR as
provided  under  Section 12 or enter the premises where any equipment is located
without  notice  or  process of law and take possession of the equipment without
incurring  any  liability  to  LESSEE or any other party for any damages arising
from  such  taking  of  possession;
c.     Sell any or all of the equipment at public or private sale or relet same;
d.     Cancel  this  MASTER  LEASE or any Lease Schedule as to any or all of the
equipment;
e.     At  law  or in equity, enforce any of LESSOR'S rights or pursue any other
remedy  now  or  hereafter  arising.

LESSOR'S  remedies  hereunder  are  cumulative  in nature, not exclusive and the
exercise  of  any  particular remedy shall not be construed to be an election of
remedies  by LESSOR nor shall any waiver or delay by LESSOR of any of its rights
or  remedies under this MASTER LEASE be construed as a waiver of LESSOR'S rights
to  enforce  that,  or any other, right or remedy in the future. Notwithstanding
LESSOR'S  election of remedies, LESSEE shall remain liable for the present value
of  all  rents and other amounts which have accrued or would have accrued during
the  six  months  following  the  Event  of  Default,  in addition to (A) all of
LESSOR'S  costs  and  expenses incurred in enforcing its rights hereunder, or in
taking of possession, storing, repairing, selling or reletting the equipment and
(B)  court  costs and reasonable attorney's fees, less (C) the net proceeds of a
public  or  private  sale  or  reletting,  if any, of the equipment, and (D) any
insurance  proceeds  recovered  by  LESSOR  from  insurance coverage provided by
LESSEE.

16.     ASSIGNMENT  AND  SUBLEASE:

a.     LESSOR'S  ASSIGNMENT: LESSOR shall have the absolute right to assign this
MASTER  LEASE  and  all  LEASE  SCHEDULES  to  any of its directly or indirectly
controlled  affiliates  at  any  time.

b.     LESSEE  understands  and  acknowledges  that LESSOR has entered into this
MASTER  LEASE  and  shall  enter  into  each  Lease  Schedule in anticipation of
assigning,  mortgaging,  or  otherwise  transferring  its  rights  and interests
thereunder  and/or  in  the  equipment  (but  not  its  obligations)  to  others
(hereinafter  referred  to  as  "Assignees") without notice to or the consent of
LESSEE. Accordingly, LESSOR and LESSEE agree that LESSEE will, after due notice,
acknowledge  in  writing  such  notice  of assignment as reasonably requested by
LESSOR  or its Assignee, and pay directly to the designated Assignee the amounts
which  become  due  under each assigned Lease Schedule and such payment shall be
absolute and unconditional, without reduction, abatement, offset or counterclaim
of  any  kind. Notwithstanding the foregoing, LESSEE reserves its rights to have
recourse  directly  against  LESSOR  on account of any claim it may have against
LESSOR.

c.     LESSEE'S ASSIGNMENT AND SUBLEASE: Without LESSOR'S prior written consent,
LESSEE  shall  not:  (A) assign any of its obligations hereunder, (B) attempt to
sublease  the  equipment  or (C) attempt to sell, transfer, hypothecate, dispose
of,  lend  or  abandon  the  equipment or any of LESSEE'S rights in it. However,
LESSEE  may  at  its  expense,  sublease  its  rights  in  the  equipment  to  a
wholly-owned  subsidiary or affiliate upon thirty (30) days prior written notice
to  LESSOR,  provided that: (A) such sublease shall not relieve LESSEE of any of
its  obligations  to  LESSOR hereunder, and (B) such sublease shall be expressly
subject  and  subordinate  to the terms of this MASTER LEASE, and (C) LESSEE and
sub-lessee  agree to take such reasonable steps as LESSOR may request to protect
the title of LESSOR or its Assignee in and to the equipment. LESSEE shall pay to
LESSOR  the  costs  and  expense  of  accomplishing  any assignment or sublease.

17.     CHOICE  OF LAW AND FORUM: This MASTER LEASE and the provisions contained
herein  shall  be  deemed  to have been executed and to be performed at LESSOR'S
parent  company's  principal place of business in Colorado AND SHALL BE GOVERNED
IN  ALL  RESPECTS  BY  THE  LAWS  OF  THE  State  of  Colorado.

18.     NOTICES:  All notices or demands provided for herein shall be in writing
and  shall  be  deemed  given  when delivered or deposited, first class, postage
prepaid, addressed to the parties at their respective addresses set forth above,
or  a  such  or  other  address  as  may  be  provided  from  time  to  time.

19.     SURVIVAL  OF OBLIGATIONS: All the terms and conditions, representations,
covenants,  warranties  and agreements contained in this MASTER LEASE and in any
Lease  Schedule  or  in  any  document in connection herewith shall specifically
survive  the  expiration  or  termination  of  this  MASTER  LEASE.


<PAGE>
20.     SEVERABILITY:  To  the  extent any provision of this MASTER LEASE or any
Lease  Schedule  is  deemed  partially  or wholly invalid or unenforceable under
applicable  law,  such  provision  shall  be  effective  to the extent valid and
enforceable,  and  all  other  provisions shall remain in full force and effect.

21.     LESSOR'S CONSENT: When LESSOR'S consent is required by the terms of this
MASTER  LEASE,  such  consent  shall  not  be  unreasonably  withheld.

22.     LEASE SCHEDULE REAFFIRMATION: The execution by LESSOR and LESSEE of each
Lease  Schedule  shall  constitute  a  reaffirmation by LESSEE of its covenants,
representations  and  warranties  herein and that the same are true, correct and
complete  with respect to the Lease Schedule as of the date of execution of each
Lease  Schedule.

23.     HEADINGS: All section headings of this MASTER LEASE  are for convenience
only,  and  shall  not  in  any way limit or affect the meaning or scope of this
MASTER  LEASE  or  its  provisions.

24.     NO WAIVER: No delay, omission or failure to act by LESSOR at any time to
exercise or enforce any right or remedy herein provided shall be a waiver of any
such right or remedy to which LESSOR is entitled, nor shall it in any way affect
the  right  of  LESSOR  to  enforce  such  provisions  thereafter.

25.     ENTIRE  AGREEMENT: This MASTER LEASE constitutes the entire agreement of
the  parties  hereto  concerning  the lease of equipment and no other written or
oral  representations or warranties shall be binding upon the parties hereto. NO
AGENT  OR  EMPLOYEE OF THE MANUFACTURER OR SELLER OF THE EQUIPMENT IS AUTHORIZED
TO BIND LESSOR TO THIS MASTER LEASE OR ANY OTHER AGREEMENT OR TO WAIVE OR MODIFY
ANY  OF  THE  PROVISIONS  HEREOF.  Any  modification  or  waiver  of  any of the
provisions  herein  shall be effective only if in writing and executed by all of
the  parties  hereto,  provided however that LESSOR may add applicable equipment
serial  or  identification  numbers to Lease Schedules and financing statements.

26.     SUCCESSOR:  This  MASTER  LEASE and each Lease Schedule shall be binding
upon  and  shall  inure  to  the  benefit of LESSOR, LESSEE and their respective
successors,  legal  representatives  and  assigns.

27.     STATUTORY  FINANCE  LEASE: LESSEE agrees and acknowledges that it is the
intent  of  both  parties  to  this  MASTER  LEASE that it qualify as  statutory
finance  lease  _________________________.  LESSEE  acknowledges and agrees that
LESSEE  has  selected  both:  (1)  the  equipment and (2) the supplier from whom
LESSOR  is  to  purchase  the equipment. LESSEE acknowledges that LESSOR has not
participated in any way in LESEE'S selection of the equipment or of the supplier
and  LESSOR  has not selected, manufactured, or supplied the equipment nor is he
an  agent  or  a dealer of any of the above-mentioned. LESSEE is advised that it
may  have  rights  under  the  contract  evidencing the LESSOR'S purchase of the
equipment  from the supplier chosen by LESSEE and that LESSEE should contact the
supplier  of  the  equipment  for  a  description  of  any  such  rights.

28.     MULTIPLE  LESSEES:  If  more than one LESSEE is named within this MASTER
LEASE,  the  liability  of  each  shall  be  joint  and  several.

29.     LEASE  ACCEPTANCE:  At  no  time  shall  this  MASTER LEASE or any Lease
Schedule  be  deemed  to  constitute  an  offer  binding upon LESSOR until it is
accepted  by  execution  of  LESSOR.


<PAGE>

<TABLE>
<CAPTION>


CASINO  MILLENNIUM  A.  S.
(LESSEE)


<S>                                                                          <C>



By:_________________________________                                         By:______________________________
a duly authorized signatory                                                  a duly authorized signatory
Position:  Shareholder                                                       Position: Shareholder
Print name: Alois Slezacek                                                   Print name: Michal Janeba




By:_/s/ Gernot Leuthmetzer_______                                            By:_/s/ Peter Hoetzinger___________
a duly authorized signatory                                                  a duly authorized signatory
Position: Member of the Board                                                Position: Member of the Board
Print name: Gernot Leuthmetzer                                               Print name: Peter Hoetzinger






CENTURY MANAGEMENT- UND B. GMBH
(LESSOR)




By:_/s/ Erwin Haitzmann___________                                           By:___/s/ Peter Hoetzinger_____
a duly authorized signatory                                                  a duly authorized signatory
Position: Chairman                                                           Position: Vice Chairman
Print name: Erwin Haitzmann                                                  Print name: Peter Hoetzinger
</TABLE>






<PAGE>
                                 LEASE SCHEDULE

This  Lease  Schedule  incorporates  the  terms  and  conditions of Master Lease
Agreement  dated  as  of  the  ___4th__  day  of _January____, 1999 (the "Master
Lease")  by  and  between  Century  Management-  und  B.  GmbH,  ("Lessor")  and

                             CASINO MILLENNIUM A. S.
                             -----------------------
                                   ("Lessee")

THIS  IS  A  NON  CANCELABLE  LEASE  SCHEDULE

1.     Initial  Term:  240  (two-hundred-and-forty)  months  commencing with the
                       ---
first day of the month immediately following the Commencement Date (or beginning
with the Commencement Date if that date is the first day of the month.) The term
of  this  Master  Lease  shall automatically continue for a further period of 60
(sixty)  months  unless  one  party  serves  notice  to the other party of their
intention  to  terminate  this Master Lease at the end of the initial 240 months
period  as  defined  above.  Such notice must be in writing and delivered to the
other  party  by  registered mail no later than six months before the end of the
initial  240  months  term.

2.     Rental  Payments:  45%  (forty-five  percent) of the Gross Profit (Income
before  Corporate  Tax,  according  to Czech accounting regulations) of LESSEE'S
operations,  plus any and all applicable taxes (e.g. VAT or DPH). The applicable
exchange  rate  for  the computation of the rental payments shall be the average
exchange rate valid on the payment date as announced by the Czech National Bank.

3.     LESSEE shall be obliged to pay to LESSOR a security deposit in the amount
equal to and under the same terms and conditions as the security deposit payable
from  LESSEE  to  B.  H.  Centrum, a.s. under the Lease Agreement for the casino
premises  (Article  9-  Security).

4.     Equipment: (See EXHIBIT  A, Equipment Schedule attached hereto and made a
part  hereof)

5.     Commencement  Date: _________________, as evidenced by the Certificate of
Acceptance,  issued  in  respect  to  this  Lease  Schedule.

6.     Equipment  Location:  the  Equipment shall be located and operated in the
space  leased by LESSEE for use as a casino at the Prague Millennium Plaza only.

7.     Use  of  Equipment: all Equipment must be managed and operated by Century
Casinos  Management,  Inc.  (or any of its affiliates or assigns) under a Casino
Services  Agreement  with  LESSEE  at  all  times.


ENTIRE  AGREEMENT:     LESSEE  REPRESENTS THAT IT HAS READ, RECEIVED, RETAINED A
COPY  OF AND UNDERSTANDS THIS LEASE SCHEDULE AND AGREES TO BE BOUND BY ITS TERMS
AND  CONDITIONS.  LESSOR  AND  LESSEE AGREE THAT THIS LEASE SCHEDULE, THE MASTER
LEASE AND ALL RIDERS THERETO SHALL CONSTITUTE THE ENTIRE AGREEMENT AND SUPERSEDE
ALL  PROPOSALS,  ORAL  OR  WRITTEN,  ALL  PRIOR  NEGOTIATIONS  AND  ALL  OTHER
COMMUNICATION  BETWEEN  LESSOR AND LESSEE WITH RESPECT TO ANY UNIT OF EQUIPMENT.



<PAGE>
This  Lease  Schedule  is  effective  only  upon  acceptance  by  LESSOR.

Accepted  on  __January  4,  1999__________.

<TABLE>
<CAPTION>


CASINO  MILLENNIUM  A.  S.
(LESSEE)

<S>                                                                      <C>




By:____/s/ Alois Slezacek___________                                     By:___/s/ Michal Jeneba____________
a duly authorized signatory                                              a duly authorized signatory
Position:  Shareholder                                                   Position: Shareholder
Print name: Alois Slezacek                                               Print name: Michal Janeba




By:____/s/ Gernot Leuthmetzer__________                                  By:__/s/ Peter Hoetzinger_____________
a duly authorized signatory                                              a duly authorized signatory
Position: Member of the Board                                            Position: Member of the Board
Print name: Gernot Leuthmetzer                                           Print name: Peter Hoetzinger





CENTURY MANAGEMENT- UND B. GMBH
(LESSOR)




By:_/s/ Erwin Haitzmann______________                                    By:__/s/ Peter Hoetzinger_____________
a duly authorized signatory                                              a duly authorized signatory
Position: Chairman                                                       Position: Vice Chairman
Print name: Erwin Haitzmann                                              Print name: Peter Hoetzinger
</TABLE>