Applies for licence at Hamilton Princess Hotel and Beach Club
Century Casinos Inc. announced yesterday that it has submitted a license application for a casino at the Hamilton Princess Hotel & Beach Club in Hamilton, Bermuda, jointly with the company that owns the property.
At this time there are no casinos in Bermuda. The Bermuda Casino Gaming Commission, following the enactment of the Casino Gaming Act in 2014, initiated the three stage application process for the island’s first casinos in 2015. The Bermudan government granted two ‘designated site orders’, one to the Hamilton Princess hotel in 2016, completing the first stage of the application process. In total, there is the potential for four licensed integrated resort casinos to operate on the island.
The second stage of the application process started in April 2017 when the Commission published a notice starting a three month period for filing applications for a casino licence, which ended on July 21, 2017. The next step will be a hearing of the application on September 22, 2017. This second stage may end with the award of a provisional casino license by the Commission. The Company believes that its application for the casino at the Hamilton Princess hotel is the only casino license application in Bermuda at this time.
The third stage of the application process will be the suitability stage. Only at the conclusion of this final stage will a casino license be granted, permitting the offering of gaming to the public, subject to the final approval of the Commission to open and operate the casino.
The Company, through its Austrian subsidiary Century Casinos Europe GmbH (CCE), entered in a long-term management agreement with Hamilton Properties Limited, a Bermudan company which owns the Hamilton Princess Hotel & Beach Club. Pursuant to the management agreement, CCE assisted with the license application and would manage the operations of the casino, should a license be awarded. In addition, CCE would also provide loan funding in the amount of $5,000,000 for casino equipment.
The Hamilton Princess hotel is Bermuda’s premier luxury urban resort and truly a Bermuda classic. For over 130 years the Hamilton Princess Hotel & Beach Club has stood as a symbol of luxury and service. It has been beautifully renovated with stunning new amenities. The luxury resort features 400 rooms, 45 suites, 13 junior suites, 4 restaurants, 1 spa, retail, 15,000 square feet of meeting space and a beach club with a beach exclusive for hotel guests.
The casino with approximately 12,000 square feet of gaming space will feature 17 gaming tables, 200 slot machines and an automated roulette machine on its main casino floor, high limit area and salon privé.