Century Casinos "buy," estimates raised

12/27/05 - Bank Austria

LONDON, December 27 (newratings.com) - Analyst Peter Bauernfried of Bank Austria-Creditanstalt maintains his "buy" rating on Century Casinos Inc (CNTY), while raising his estimates for the company. The target price is set to €9.

In a research note published this morning, the analyst mentions that the company has indicated its intention to acquire a 43.6% stake in the Edmonton project from a minority shareholder for $6.3 million. Century Casinos expects the Edmonton casino to be opened during 4Q06. The EPS estimates for 2006 and 2007 have been raised from $0.31 to $0.33 and from $0.54 to $0.63, respectively, in view of the stake acquisition.