UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15 (d) of the Securities Exchange Act of
1934
Date
of Report: March 21, 2006
(Date
of
earliest event reported: March 17, 2006)
CENTURY
CASINOS, INC.
(Exact
Name of Registrant as specified in its charter)
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Delaware
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0-22290
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84-1271317
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(State
or other jurisdiction
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(Commission
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(I.R.S.
Employer
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||
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of
incorporation)
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File
Number)
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Identification
Number)
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1263
Lake Plaza Drive Suite A, Colorado Springs, CO
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80906
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant's
telephone number, including area code:
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719-527-8300
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Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
__
Written communication pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
__
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
__
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act
(17 CFR 240.14d-2(b))
__
Pre-commencement pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
1.01 Entry Into a Material Definitive Agreement
On
November
1, 2005, the Company, through it’s wholly-owned subsidiary Century Casinos
Europe GMBH (“CCE”), entered into an Employment Contract with Dr. Christian
Gernert. The agreement will continue until terminated in accordance with it’s
provisions.
Dr.
Gernert will be paid an annual salary of $120,000 and an annual bonus at a
mutually agreed upon amount between Dr. Gernert and CCE. If Dr. Gernert is
terminated by the Company within three years of a Change in Control (as defined
in the agreement), he will be entitled to a severance payment of one year of
his
base salary plus a payment equal to the bonus received by him for the year
proceeding the termination. The agreement is subject to confidentiality and
non-compete clauses.
A
copy of
the employment agreement is attached hereto as Exhibit 10.168 and is
incorporated herein by reference. The foregoing description is qualified in
its
entirety by reference to the full text of such exhibit.
Item
5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers.
Appointment
of Principal Officer
On
March
17, 2005, the Company announced the appointment of Dr. Christian Gernert, age
40, as Chief Operating Officer of the Company. Dr. Gernert has over 20 years
of
experience
in
the casino industry, most recently as General Manager of Century Casinos’ “The
Caledon Hotel, Spa & Casino” in South Africa. The
terms
of Dr. Gernert’s employment are described in Item 1.01 of this Current Report on
Form 8-K and are hereby incorporated by reference.
Item
9.01 Financial Statements and Exhibits
(c)
Exhibits
SIGNATURES
Pursuant
to the requirements of 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.
(Registrant)
Date:
March 21, 2006
By
: /s/ Ray Sienko
Ray
Sienko
Chief
Accounting
Officer
EXHIBIT
INDEX
10.168
Employment
contract, effective January 1, 2006, between Century Casinos Europe GMBH and
Dr.
Christian Gernert dated November 1, 2005.
99.1
Press
release, dated March 17, 2006, announcing the appointment of Chief Operating
Officer.