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: October 14, 2004
               (Date of earliest event reported: October 12, 2004)

                              CENTURY CASINOS, INC.
             (Exact Name of Registrant as specified in its charter)

          Delaware                   0-22290                 84-1271317
(state or other jurisdiction      (Commission            (I.R.S. Employer
     of incorporation)            File Number)         Identification Number)

     1263 Lake Plaza Drive Suite A, Colorado Springs,  CO 80906     
     (Address of principal executive offices) (Zip Code)

      Registrant's telephone number, including area code: 719-527-8300

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

__ Soliciting  material  pursuant to Rule 14a-12 under the Exchange Act (17 CFR

__ 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

Item 1.01 Entry Into a Material Definitive Agreement

On October 12, 2004,  Century  Casinos,  Inc.  entered  into an  agreement  with
Tollgate Venture, LLC to develop and operate a casino and hotel in Central City,

Century's  contribution to the proposed project includes an initial cash capital
contribution  of  $3.5  million  in  return  for  a  controlling  65%  interest.
Additionally,  a  subsidiary  of the  Company  entered  into a  Casino  Services
Agreement to manage the property.

Closing of the  agreement  and  completion  of the project is subject to various
conditions  and  approvals,  including,  but not limited to securing  acceptable
financing,   satisfactory  environmental  studies,  licensing  by  the  Colorado
Division of Gaming, Century Casinos' Board approval and other due diligence.

A copy of Century  Casino's  press release dated October 13, 2004 is attached as
an Exhibit.

Item 9.01 Exhibits.
99.1     Press release dated October 13, 2004


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.

Date:  October 14, 2004                by:  /s/ Larry Hannappel
                                       Larry Hannappel, Chief Accounting Officer