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: December 7, 2004
               (Date of earliest event reported: December 1, 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 December 1, 2004, Century Casinos, Inc. entered into an agreement to sell its
interest in the Gauteng,  South Africa,  license  Application to the Akani Group
which is comprised of Akani Leisure Investments  (Proprietary)  Limited and Gold
Reef Casino Resorts Limited  (partly owned by the Casinos  Austria  group).  The
Akani Group has agreed to provide the funds necessary for Silverstar to complete
the project and to acquire the entire  shareholding of Silverstar as well as all
assets, rights and obligations of Century in the project.

The total selling price to Century is R50.3 million, approximately $8.5 million.

By the terms of the Verkrans Sale Agreement, Century Casinos Africa has sold all
of its shares in Verkrans  Ontwikkelings  Maatskappy (Pty) Limited to Silverstar
Development Limited for R4,405,000 in cash.

By the terms of the  Settlement  of Loans  Agreement,  Silverstar  paid  Century
Casinos  Africa  (Pty)  Ltd  R5,595,000  to  settle  loans  previously  made  to
Silverstar and other parties related to the proposed  project in Gauteng,  South
Africa. As part of the same agreement,  Century Casinos Africa has advanced R3.0
million to Silverstar which shall be repaid in six equal  installments  upon the
payment dates of the seventh  though  twelfth  installments  established  in the
option agreements plus interest of R60,000 per installment.

The balance of R40.3  million,  approximately  $6.8  million,  is  contingent on
certain  approvals being secured by Silverstar and the Akani Group.  The outcome
of these approvals is unknown at this time but with the financial backing of the
Akani Group,  funding is now  available to  Silverstar to complete its tasks and
provide a higher level of assurance that Century will ultimately get a return on
its  efforts  to  date.  Should  such  approvals  not  be  obtained,   Century's
involvement  in the project will be restored to the previous  level of ownership
and management.

Century  Casinos,  Inc.  has entered into a  consulting  agreement  with Respond
Limited  under  which it will pay a fee on all sums  received  in respect to any
disposal  agreements  related to the Gauteng,  South Africa  project equal to 2%
(two percent) on cumulative  amounts up to $5 million plus 5% (five  percent) of
all  amounts  received in excess of $5  million.  Century  has paid  R200,000 to
Respond  Limited in  conjunction  with the receipt of the R10.0  million for the
Verkrans Sale and Settlement of Loans agreements.  The payment of any additional
fees is  subject to the  receipt  of  additional  funds in  connection  with the
disposal of our interests.

Item 9.01 Exhibits.
10.139   Settlement of Loans Agreement
10.140   Verkrans Sale Agreement
10.141   Century Resorts Limited Option Agreement
10.142   Century Casinos West Rand Option Agreement


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:  December 7, 2004                            by:  /s/ Larry Hannappel
                                                   Larry Hannappel, Chief
                                                   Accounting Officer