UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                  SCHEDULE 14A
                                 (RULE 14a-101)

                     INFORMATION REQUIRED IN PROXY STATEMENT

                            SCHEDULE 14A INFORMATION

          PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES
                              EXCHANGE ACT OF 1934

Filed by the Registrant [X]

Filed by a Party other than the Registrant [ ]

Check the appropriate box:

[ ] Preliminary Proxy Statement

[ ] Confidential,  for Use of the  Commission  Only  (as  permitted  by Rule
    14a-6(e)(2))

[X] Definitive Proxy Statement

[ ] Definitive Additional Materials

[ ] Soliciting Material Pursuant to Rule 14a-12


                              CENTURY CASINOS, INC.
--------------------------------------------------------------------------------
                (Name of Registrant as Specified In Its Charter)

--------------------------------------------------------------------------------
   (Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of Filing Fee (Check the appropriate box):

[X] No fee required.

[ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.

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               pursuant to Exchange Act Rule 0-11 (set forth the amount on which
               the filing fee is calculated and state how it was determined):

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[ ] Fee paid previously with preliminary materials.

[ ]  Check box if any part of the fee is offset as provided by Exchange Act
     Rule  0-11(a)(2)  and identify the filing for which the  offsetting fee was
     paid  previously.  Identify the previous filing by  registration  statement
     number, or the Form or Schedule and the date of its filing.

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           4)  Date Filed:

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                              CENTURY CASINOS, INC.

                    NOTICE OF ANNUAL MEETING OF STOCKHOLDERS


     Notice is hereby given that the Annual Meeting of  Stockholders  of Century
Casinos,  Inc.  (the  "Company"),  a Delaware  corporation,  will be convened on
Monday,  June 16, 2003, at The Caledon Casino Resort,  Caledon,  South Africa at
18:00 hrs South  African  Time (10:00 a.m.  Mountain  Time,  12:00 p.m.  Eastern
Time), for the following purposes:


          1.   To elect two Class III directors to the Board of Directors; and

          2.   To transact  such other  business as may properly come before the
               meeting  in  accordance   with  the   Company's   bylaws  or  any
               adjournment thereof.


     STOCKHOLDERS  ARE  CORDIALLY  INVITED TO ATTEND THE MEETING IN PERSON OR BY
CALLING  888-222-0389 (U.S. TOLL FREE), + 1 706-679-8462  (INTERNATIONAL CALL IN
), 0 800 281 475  (AUSTRIAN  TOLL FREE),  OR 0 800 181 5287  (GERMAN TOLL FREE).
STOCKHOLDERS  WHO  CANNOT  ATTEND IN PERSON  SHOULD  VOTE BY USING THE  ENCLOSED
PROXY.

     PLEASE FILL IN, DATE,  SIGN,  AND RETURN THE ENCLOSED PROXY IN THE ENCLOSED
ENVELOPE  SO THAT YOUR  SHARES  MAY BE VOTED AT THE  MEETING.  IF YOU ATTEND THE
MEETING, YOU MAY REVOKE YOUR PROXY AND VOTE IN PERSON. YOUR VOTE IS IMPORTANT.

                                              By Order of the Board of Directors


                                                             /s/ Erwin Haitzmann
                                                            --------------------
                                                                 Erwin Haitzmann
                                                           Chairman of the Board


Cripple Creek, Colorado
April 30, 2003

                                     


                              CENTURY CASINOS, INC.
                             157 East Warren Avenue
                             Cripple Creek, CO 80813

                                 PROXY STATEMENT

                         Annual Meeting of Stockholders
                           To Be Held on June 16, 2003

                                   IN GENERAL

     This proxy  statement is furnished in connection  with the  solicitation of
proxies by the Board of Directors of Century Casinos,  Inc. (the "Company"),  to
be used at the Annual Meeting of Stockholders (the "Meeting") to be held on June
16, 2003 at The Caledon  Casino  Resort,  Caledon,  South  Africa at 18:00 South
African Time (10:00 a.m.  Mountain  Time and 12:00 p.m.  Eastern  Time,  for the
purposes set forth in the accompanying Notice of Annual Meeting of Stockholders.
The enclosed material was mailed on or about May 16, 2003 to stockholders of the
Company.

     All properly  executed  proxies received at or prior to the Meeting will be
voted at the Meeting.  If a stockholder  directs how a proxy is to be voted with
respect to the business  coming  before the meeting,  the proxy will be voted in
accordance with the stockholder's  directions.  If a stockholder does not direct
how a proxy is to be  voted,  it will be voted in favor of the  election  of the
nominees to the Board of Directors named in this proxy statement. A proxy may be
revoked  at any time  before it is  exercised  by giving  written  notice to the
Secretary  of the  Company at the above  address or by a  subsequently  executed
proxy.  Stockholders may vote their shares in person if they attend the Meeting,
even if they  have  executed  and  returned  a  proxy.  If no  instructions  are
indicated on the proxy,  the shares will be voted in favor of the proposals that
have  been  brought  forward  in  accordance  with the  Company's  bylaws  to be
considered at the Meeting.

     The matters to be brought  before the Meeting are the election of two Class
III  directors  of the Board of  Directors,  and the  transaction  of such other
business that has been brought forward in accordance with the Company's  bylaws,
or as may come before the Meeting.

     Expenses in connection  with the  solicitation  of proxies in regard to the
proposals  brought  forward by the Company and included in this proxy  statement
will be paid by the  Company.  Proxies  are being  solicited  by mail,  and,  in
addition,  directors,  officers,  and regular employees of the Company (who will
not receive any additional  compensation)  may solicit  proxies  personally,  by
telephone,  by email, or by special  correspondence.  The Company will reimburse
brokerage firms and


                                       1
                                     

others for their expenses in forwarding proxy materials to the beneficial owners
of the Company's common stock.

VOTING SECURITIES

     Only  stockholders  of record at the close of business  on April 30,  2003,
will be entitled  to vote at the  Meeting.  On that date,  there were issued and
outstanding  13,545,764 shares of the Company's $.01 par value common stock, the
only class of voting  securities  of the Company.  Each share of common stock is
entitled to one vote per share.  Cumulative  voting in the election of directors
is not permitted.

     A  majority  of the  number of the  outstanding  shares  of  common  stock,
represented  either  in person or by proxy,  will  constitute  a quorum  for the
transaction of business at the Meeting. Of the votes cast at the Meeting, a vote
of the holders of a majority of the common stock present, either in person or by
proxy, is required to elect each director nominee.

     In accordance  with  Delaware  law, a stockholder  entitled to vote for the
election of directors  can withhold  authority to vote for certain  nominees for
director.  Abstentions  are counted  for  purposes  of  determining  a quorum to
conduct  business,  but are ignored in vote tabulation,  thereby  increasing the
number of votes  necessary to approve any proposal.  The  inspectors of election
will  treat any  shares  held by  brokers  or  nominees  for which  they have no
discretionary  power to vote on a  particular  matter  and for  which  they have
received no instructions  from the beneficial owners or persons entitled to vote
("broker  non-votes") as shares that are present for purposes of determining the
presence of a quorum.  However,  for purposes of determining  the outcome of any
matters as to which the broker has  indicated on the Proxy that it does not have
discretionary authority to vote, those shares will be treated as not entitled to
vote with  respect to that matter  (even  though those shares may be entitled to
vote on other matters).

     All  shares  of  Common  Stock  will vote as a single  class.  Neither  the
Company's  Certificate  of  Incorporation  nor its Bylaws provide for cumulative
voting rights.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

     The following table sets forth information as of April 30, 2003, concerning
record common stock  ownership by  beneficial  owners of five percent or more of
the Company's common stock and the officers and directors of the Company. All of
the named persons  below,  other than Thomas Graf and Lloyd I. Miller,  III, are
officers or directors of the Company.

                                       2
                                     


                         

----------------------------- --------------------------------------- ------------------------------ -----------------
      TITLE OF CLASS                  NAME AND ADDRESS OF                AMOUNT AND NATURE OF         PERCENT OF
                                       BENEFICIAL OWNER                  BENEFICIAL OWNERSHIP            CLASS
============================= ======================================= ============================== =================
Common Stock,                 Erwin Haitzmann                                 1,960,000 (a)               11.9%
$.01 par value                c/o Century Casinos, Inc.
                              157 East Warren Ave.
                              Cripple Creek, CO  80813
----------------------------- --------------------------------------- ------------------------------ -----------------
Common Stock,                 Peter Hoetzinger                                1,168,078 (b)                7.1%
$.01 par value                c/o Century Casinos, Inc.
                              157 East Warren Ave.
                              Cripple Creek, CO  80813
----------------------------- --------------------------------------- ------------------------------ -----------------
Common Stock,                 James D. Forbes                                  996,164  (c)                6.1%
$.01 par value                34 Buffalo Thorn Rd.
                              Fourways, Johannesburg
                              South Africa 2055
----------------------------- --------------------------------------- ------------------------------ -----------------
Common Stock,                 Robert S. Eichberg                               60,000   (d)                (h)
$.01 par value                1801 California St. Ste. 4650
                              Denver, CO  80202

----------------------------- --------------------------------------- ------------------------------ -----------------
Common Stock,                 Gottfried Schellmann                             99,000   (e)                (h)
$.01 par value                Bahnhofplatz 1A
                              2340 Moedling,
                              Austria/Europe
----------------------------- --------------------------------------- ------------------------------ -----------------
Common Stock,                 Dinah Corbaci                                    30,000   (f)                (h)
$.01 par value                Schlossgasse 1
                              A-1050 Wien
                              Austria/ Europe
----------------------------- --------------------------------------- ------------------------------ -----------------

                                       3
                                     

----------------------------- --------------------------------------- ------------------------------ -----------------
      TITLE OF CLASS                  NAME AND ADDRESS OF                AMOUNT AND NATURE OF         PERCENT OF
                                       BENEFICIAL OWNER                  BENEFICIAL OWNERSHIP            CLASS
============================= ======================================= ============================== =================

Common Stock,                 Larry Hannappel                                  47,500 (g)                  (h)
$.01 par value                c/o Century Casinos, Inc.
                              157 East Warren Ave.
                              Cripple Creek, CO  80813
----------------------------- --------------------------------------- ------------------------------ -----------------
Common Stock,                 All Officers and Directors as a Group             4,360,742                 26.5%
$.01 par value                (seven persons)


----------------------------- --------------------------------------- ------------------------------ -----------------
Common Stock,                 Thomas Graf                                       2,494,300                 15.2%
$.01 par value                Liechtensteinstrasse 54
                              A-2344 Maria Enzersdorf
                              Austria/Europe
----------------------------- --------------------------------------- ------------------------------ -----------------
Common Stock,                 Lloyd I. Miller, III                              2,518,123                 15.3%
$.01 par value                4550 Gordon Drive
                              Naples, FL 34102

----------------------------- --------------------------------------- ------------------------------ -----------------




     (a)  Includes:   (i)   non-statutory   stock  options  for  950,000  shares
          exercisable at $1.50 per share and 350,000 shares exercisable at $0.75
          per  share,   indirectly  owned  and  held  by  The  Haitzmann  Family
          Foundation;  and (ii) 550,000 shares  indirectly owned and held by The
          Haitzmann Family Foundation.

          During 2002, 50,000  non-statutory  stock options (in (i)) exercisable
          at $0.75 per share were transferred from Mr. Haitzmann's  ownership to
          The Haitzmann Family Foundation.

          During 2003, 300,000  non-statutory stock options (in (i)) exercisable
          at $0.75 per share were transferred from Mr. Haitzmann's  ownership to
          The Haitzmann Family Foundation.

     (b)  Includes:   (i)   non-statutory   stock  options  for  543,000  shares
          exercisable at $1.50 per share and 250,000 shares exercisable at $0.75
          per  share,  indirectly

                                       4
                                     


          owned  and held by The  Hoetzinger  Family  Foundation;  (ii)  100,000
          shares  held by Mr.  Hoetzinger's  spouse;  and (iii)  143,728  shares
          indirectly owned and held by The Hoetzinger Family Foundation.

          During 2002, 50,000  non-statutory  stock options (in (i)) exercisable
          at $0.75 per share were transferred from Mr. Hoetzinger's ownership to
          The Hoetzinger Family Foundation.

          During 2003, 200,000  non-statutory stock options (in (i)) exercisable
          at $0.75 per share were transferred from Mr. Hoetzinger's ownership to
          The Hoetzinger Family Foundation.

     (c)  Includes: (i) an incentive stock option for 130,000 shares exercisable
          at $1.50 per share;  (ii) an incentive stock option for 160,000 shares
          exercisable at $0.75 per share; and (iii) a non-statutory stock option
          for  328,000  shares  exercisable  at $1.50 per  share.  (See  Certain
          Relationships and Related Transactions.)

     (d)  Includes:  (i) an option for 20,000  shares  exercisable  at $1.00 per
          share;  and (ii) an option for 10,000 shares  exercisable at $2.12 per
          share.

     (e)  Includes:  (i) an option for 20,000  shares  exercisable  at $1.00 per
          share;  and (ii) an option for 10,000 shares  exercisable at $2.12 per
          share.

     (f)  Includes:  (i) an option for 20,000  shares  exercisable  at $1.75 per
          share;  and (ii) an option for 10,000 shares  exercisable at $2.12 per
          share.

     (g)  Includes:  (i) an incentive stock option for 10,000 shares exercisable
          at $0.75 per share;  (ii) an incentive  stock option for 22,500 shares
          exercisable  at $1.50 per share;  and (iii) an incentive  stock option
          for 5,000 shares exercisable at $2.25 per share.

     (h)  Less than 1%.

                                       5
                                     


INFORMATION CONCERNING DIRECTORS AND EXECUTIVE OFFICERS

     Information  regarding the Board of Directors and executive officers of the
Company, as of April 30, 2003 is as follows:

                                                                  Officer or
Name                         Age   Positions Held                Director Since
--------------------------------------------------------------------------------

Erwin Haitzmann              49    Chairman of the Board &         March 1994
                                   Chief Executive Officer

Peter Hoetzinger             40    Vice Chairman of the Board      March 1994
                                   & President

James D. Forbes              45    Director                        March 1994

Robert S. Eichberg           57    Director                        January 1997

Gottfried Schellmann         49    Director                        January 1997

Dinah Corbaci                48    Director                        April 2000

Larry Hannappel              50    Chief Accounting Officer,       October 1999
                                   Secretary, & Treasurer

     Erwin  Haitzmann  holds a  Doctorate  and a Masters  degree  in Social  and
Economic Sciences from the University of Linz,  Austria (1980), and has 28 years
of casino gaming  experience  ranging from dealer  (commencing  in 1975) through
various casino management  positions.  Mr. Haitzmann has been employed full-time
by the Company since May 1993.

     Peter  Hoetzinger  received a Masters  degree from the  University of Linz,
Austria, in 1986. He thereafter was employed in several managerial  positions in
the gaming  industry with Austrian  casino  companies.  Mr.  Hoetzinger has been
employed full-time by the Company since May 1993.

     James D. Forbes,  from 1979 to 1993,  was employed in several  positions in
the gaming industry with British and Austrian casino  companies.  Mr. Forbes has
been employed full-time by the Company since February 1993.

     Robert S. Eichberg  graduated  from Bradley  University in 1968 with a B.S.
Degree in Accounting and is a Certified  Public  Accountant.  He was employed by
the public  accounting firm of Deloitte & Touche,  LLP from 1974 to 1994, ending
his tenure there as Tax Partner.  From 1994 to 1996 he served as Tax Partner for
the  public  accounting  firm  Price  Bednar  LLP,  before  joining  the  public
accounting firm

                                       6
                                     


of Causey, Demgen & Moore, Inc. in September of 1996, where he has been employed
since, as shareholder and President.

     Gottfried  Schellmann graduated from University of Vienna with a law degree
and is a  certified  tax  advisor in Austria.  After  having  worked for several
firms,  including  KPMG  Germany  as  tax  and  accounting  manager,  he  formed
Schellmann  &  Partner  in  1993,  where  he  has  been  employed  since,  which
specializes  in tax and  accounting  work for  provinces and  municipalities  in
Austria.

     He is a member of the International Bar Association.  He is also one of the
main  co-authors,  together  with certain  officers of the Austrian  Ministry of
Finance, of the Austrian corporate tax code.

     Dinah  Corbaci  holds a  Doctorate  degree  in Law from the  University  of
Salzburg,  Austria  (1981).  She  joined  IBM  Austria  in  1984,  where  she is
responsible as Account Manager for large government customers;  special focus on
e-business for large IBM mainframe hardware and e-government solutions.

     Larry Hannappel  graduated from National College,  Rapid City, South Dakota
(1976) with a B.S.  Degree in Accounting.  From 1976 to 1979, he was employed by
the public  accounting  firm of Hamma & Nelson.  From 1979 to 1994, he served in
various  financial  management  capacities  in  manufacturing  and  gaming.  Mr.
Hannappel has been  employed  full-time by the Company since May 1994. He became
Chief  Accounting  Officer in October  1999,  was  appointed as Secretary of the
Company in March 2000, and appointed as Treasurer in June 2001.

     There are no family relationships  between or among the Company's executive
officers and directors.

CERTAIN INFORMATION REGARDING THE BOARD OF DIRECTORS

     During 2002, on several occasions during the year, the members of the Board
of  Directors  executed  unanimous  written  consents  in lieu of  meetings,  in
accordance  with  Delaware  law.  The Audit  Committee of the Board of Directors
(consisting of Messrs. Eichberg and Schellmann, and Dr. Corbaci), which assesses
the Company's  system of internal  controls and approves the  appointment of the
independent  accountants  and assists in  considering  the  recommendations  and
performance of the Company's independent accountants,  holds regular,  quarterly
meetings  and has held  three (3)  meetings  since  the date of the last  annual
meeting July 5, 2002.  The Board of Directors has adopted a written  charter for
the audit  committee,  filed with the Securities and Exchange  Commission in the
2001  proxy  statement  as  Appendix  A -  "Charter  and  Powers  of  the  Audit
Committee".  The Incentive Plan Committee of the Board of Directors  (consisting
of Messrs.  Haitzmann,  Hoetzinger,  and  Schellmann,  and Dr.  Corbaci),  which
oversees and awards equity  incentives to

                                       7
                                     

eligible  employees of the Company has held zero (0) meetings  since the date of
the last annual meeting July 5, 2002. The Compensation Committee of the Board of
Directors  (consisting of Messrs.  Haitzmann and Hoetzinger,  and Dr.  Corbaci),
which  oversees and  allocates  compensation  to the  officers,  directors,  and
management  of the Company  has held one (1) meeting  since the date of the last
annual meeting July 5, 2002. The Compensation  Committee also executed unanimous
written  consents in lieu of meetings in accordance with Delaware law. The Board
of Directors does not have a separate Nominating Committee.

EXECUTIVE COMPENSATION

     The table below sets forth  executive  compensation  during 2002,  2001 and
2000 to the  Chairman of the Board and Chief  Executive  Officer of the Company,
Erwin Haitzmann,  and to all other executive  officers who received greater than
$100,000 in compensation in 2002, 2001 or 2000.


                           Summary Compensation Table


                         

                                                                        Awards                 Payouts

                                                      Other     Restricted   Securities                 All
Name & Principal                                      Annual      Stock      Underlying     LTIP       Other
    Position            Year     Salary    Bonus   Compensation   Awards    Options/SARs   Payouts  Compensation
     --------           ----      (a)       (b)        (c)

                                  ($)       ($)        ($)         ($)           (#)         ($)       ($)

Erwin Haitzmann         2002    178,605    247,763     5,771                                             -
Chairman of the Board   2001    133,944    248,993     8,801                                             -
And Chief Executive     2000    150,000    352,000     9,738                                             -
Officer
                                                                                                         -
Peter Hoetzinger        2002    183,432    243,002     5,771                                             -
Vice-Chairman           2001    160,975    223,484     5,452                                             -
of the Board
And President           2000    150,000    351,500     8,411                                             -
                                                                                                         -
James D. Forbes         2002    166,589     20,000    26,000                                             -
Director                2001    150,000     2,685     39,000                                         2,250
                        2000    150,000    182,240    39,445                                         2,250

Larry Hannappel         2002    80,507      60,000                                                   1,200
Chief Accounting        2001    80,508      50,000                                                   1,374
Officer,
Secretary & Treasurer   2000    80,542      30,000                                                   1,291





(a)  Salary for 2002 includes  $144,000 paid to Flyfish Casino Consulting AG for
     the benefit of Mr. Haitzmann's family foundation and $120,000 paid to Focus
     Casino Consulting AG for the benefit of Mr. Hoetzinger's family foundation,
     pursuant to separate management  agreements with the Company,  entered into
     on March 1, 2001 and amended October 11, 2001 and October 12, 2002.  Salary
     for 2002 also includes $120,000 paid to Respond Limited, for the benefit of
     Mr.  Forbes,


                                       8
                                     

     pursuant to a management  agreement with the Company dated January 1, 2002.
     (See Certain Relationships and Related Transactions.)

     On  October  12,  2001,  the  Company  entered  into  separate   Employment
     Agreements  with Mr.  Haitzmann and Mr.  Hoetzinger.  The  agreements  were
     amended February 18, 2003 to extend the dates of employment to December 31,
     2008 and to specify the duties of Messrs.  Haitzmann  and  Hoetzinger.  The
     agreements are automatically renewable for successive periods of five years
     each, unless sooner  terminated by either the Company or the employee.  The
     agreements  call for an annual salary of $24,000 with annual  increases and
     bonuses (see previous  paragraph for further  description of  compensation)
     plus other  incentives as determined by the  Compensation  Committee of the
     Board of Directors.  The  Compensation  Committee is required to review the
     salaries  on an  annual  basis.  The  agreements  provide  for  termination
     payments  to be made for a period  of six (6)  months if the  agreement  is
     terminated by the Company  without cause, or for payment of three times the
     employee's annual salary and average bonus and complete vesting  (including
     employee's  trusts and  foundations) in unvested stock and stock options if
     the termination  occurs (a) after Change of Control of the Company,  or (b)
     by the  employee  for cause.  If the  termination  occurs after a Change of
     Control,  or by the employee for cause,  the employee shall have the option
     to either (a)  receive an  immediate  payment of the stock value of 100% of
     his stock and the higher of (i) the value  according  to the Black  Scholes
     model or (ii) the in-the-money value of his stock options/warrants,  or (b)
     receive  an  immediate  cash  bonus  from  the  Company  enabling  employee
     (including employee's trusts and foundations), after full payment of all of
     employee's (including employee's trusts and foundations) taxes on such cash
     bonus, to exercise 100% of his stock  options/warrants,  and to continue to
     hold his  stock,  with the  right  to "put" or sell the  stock  back to the
     Company for cash at market  value.  This right to "put" or sale shall be in
     force and  effect  and valid  and  exercisable  at any time and as how many
     times as employee wishes, in whole or in part, within three (3) years after
     employee's  termination  for cause,  at  employee's  (including  employee's
     trusts and foundations) sole election.

(b)  Mr. Haitzmann's bonus for 2002 was paid to Flyfish Casino Consulting AG for
     the benefit of Mr. Haitzmann's family  foundation.  Mr.  Hoetzinger's bonus
     for 2002 was paid to Focus  Casino  Consulting  AG for the  benefit  of Mr.
     Hoetzinger's  family  foundation.  Mr.  Forbes'  bonus for 2002 was paid to
     Respond Limited. (See Certain Relationships and Related Transactions.)

(c)  Amounts for 2002, 2001 and 2000,  respectively,  include  reimbursement for
     estimated income taxes,  associated with perquisites,  of $2,886, $482, and
     $3,580 for Mr.  Haitzmann;  $2,886,  $0,  and  $2,456  for Mr.  Hoetzinger;
     $10,400, $7,800, and $7,317 for Mr. Forbes.

                                       9
                                     


(d)  Consists solely of Company's  matching  contributions to the 401(k) Savings
     and Retirement Plan.


STOCK OPTION GRANTS IN LAST FISCAL YEAR

     There were no grants of stock  options  during 2002 to  purchase  shares of
common stock of the Company to any of the Company's executive officers.


AGGREGATED  OPTIONS  EXERCISED  IN LAST FISCAL YEAR AND FISCAL  YEAR-END  OPTION
VALUES

     The  following  table  sets  forth the  aggregate  options  held by certain
executive  officers of the Company.  No options were  exercised by the specified
officers in 2002.


                         

------------------- --------------- -------------- -------------------------------- --------------------------------
                        SHARES                     NUMBER OF SECURITIES UNDERLYING        VALUE OF UNEXERCISED
                     ACQUIRED ON        VALUE        OPTIONS AT DECEMBER 31, 2002       IN-THE-MONEY OPTIONS AT
       NAME            EXERCISE       REALIZED        EXERCISABLE/ UNEXERCISABLE     DECEMBER 31, 2002 EXERCISABLE/
                                                                                             UNEXERCISABLE
=================== =============== ============== ================================ ================================
Erwin Haitzmann,          -               -             1,300,000 / -0- (a)              $1,107,500 / -0- (c)
Chairman of the
Board and Chief
Executive Officer

------------------- --------------- -------------- -------------------------------- --------------------------------
Peter Hoetzinger,         -               -               793,000 / -0- (b)                $702,950 / -0- (c)
Vice Chairman of
the Board and
President

------------------- --------------- -------------- -------------------------------- --------------------------------
James D. Forbes,          -             -                 618,000 / -0-                    $521,700 / -0- (c)
Director



------------------- --------------- -------------- -------------------------------- --------------------------------
Larry Hannappel,          -               -                37,500 / -0-                     $28,625 / -0- (c)
Chief Accounting
Officer, Secretary &
Treasurer

------------------- --------------- -------------- -------------------------------- --------------------------------



     (a) Includes  1,000,000  options held by The Haitzmann  Family  Foundation.
(See Certain Relationships and Related Transactions.)

                                       10
                                     


     (b) Includes 593,000 options held by The Hoetzinger Family Foundation. (See
Certain Relationships and Related Transactions.)

     (c) Based on the closing bid price ($2.15) of the Company's Common Stock on
the NASDAQ Stock Market on December 31, 2002.

     Directors who are full-time  employees  receive no  compensation  for their
services as directors. With the exception of Messrs. Eichberg and Schellmann and
Dr. Corbaci, all of the Company's directors are employees.

     Messrs.  Eichberg and Schellmann and Dr. Corbaci,  the outside directors of
the Company, are being compensated for their services as follows:

     (a) Stock Option  Grants - In 1998,  upon  joining the Board of  Directors,
both Messrs.  Eichberg and Schellmann received options to purchase 10,000 shares
of the  Company's  common  stock.  The  options  have a  five-year  term and are
exercisable at $0.938 per share. In 1999,  both Messrs.  Eichberg and Schellmann
received options to purchase an additional 10,000 shares of the Company's stock,
which have a four-year term and are  exercisable at $.75 per share.  In February
2000,  both Messrs.  Eichberg  and  Schellmann  received  options to purchase an
additional 20,000 shares of the Company's stock;  these options have a five-year
term and are exercisable at $1.00 per share. Upon joining the Board of Directors
in April 2000, Dr.  Corbaci  received  options to purchase  20,000 shares of the
Company's  stock,  which have a five-year term and are  exercisable at $1.75 per
share.  In February  2002,  Messrs.  Eichberg  and  Schellmann  and Dr.  Corbaci
received options to purchase an additional 10,000 shares of the Company's stock,
which have a five-year term and are exercisable at $2.12 per share.

     Stock Option  Exercises - In December  2002,  Mr.  Eichberg  exercised  his
options  for  10,000  shares of the  Company's  stock at $0.938 per share and in
February 2003, Mr. Eichberg exercised his options for 10,000 shares at $0.75 per
share. In December 2002, Mr. Schellmann  exercised his options for 10,000 shares
of the Company's stock at $0.938 per share and 10,000 shares at $0.75 per share.

     (b) Compensation,  Reimbursement - The outside directors receive $1,000 per
Board or committee  meeting  attended  and the Company  will pay for  reasonable
expenses incurred in conjunction with those meetings.  In addition,  the outside
directors receive $1,000 per gaming  application filed with gaming regulators to
compensate them for their time spent.

                                       11
                                     


COMPLIANCE WITH SECTION 16(a) OF THE SECURITIES EXCHANGE ACT

     Section 16(a) of the Securities Exchange Act of 1934 requires the Company's
directors and executive officers, and persons who beneficially own more than 10%
of its  outstanding  common  stock,  to file with the  Securities  and  Exchange
Commission  (the "SEC")  initial  reports of ownership and reports of changes in
ownership of common stock and other equity  securities of the Company.  Officers
and greater than 10%  stockholders are required by SEC regulation to furnish the
Company with copies of all Section 16(a) reports they file.

     To the  Company's  knowledge  (based solely on review of the copies of such
reports furnished to the Company and representations  that no other reports were
required,  during the fiscal year ended  December 31,  2002),  all Section 16(a)
filing requirements  applicable to its officers,  directors and greater than 10%
stockholders were complied with in a timely manner.

STOCK PRICE PERFORMANCE

     This  information is  incorporated by reference from Part II Item 5, in the
Company's Annual Report on Form 10K for the year ended December 31, 2002.


[STOCK PRICE PERFORMANCE GRAPH APPEARS HERE]

                  Plot Points for Stock Price Performance Graph


                                Percentage Change
                      -----------------------------------------
                       CNTY           NASDAQ           S&P
                      -----------------------------------------

01/03/2000             0.00            0.00            0.00
06/30/2000            63.72           (4.00)          (0.04)
12/29/2000            63.72          (40.20)          (9.27)
06/29/2001           109.51          (47.70)         (15.86)
12/31/2001           117.26          (52.79)         (21.11)
06/28/2002           190.98          (64.58)         (31.98)
12/31/2002           108.54          (67.67)         (39.54)


                                       12
                                     


CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

     At December  31,  2002,  the Company had an  unsecured  note  payable  that
matures on April 1, 2004, in the principal  amount of $380,000 to Thomas Graf, a
founding  shareholder  of the Company.  The unsecured note bears interest at 6%,
payable  quarterly.  The noteholder,  at his option, may elect to receive any or
all of the unpaid principal by notifying the Company on or before April 1 of any
year.  Payment of the  principal  amount so  specified  would be required by the
Company on or before  January 1 of the following  year.  The entire  outstanding
principal is otherwise due and payable on April 1, 2004.

     On March 1, 2001, as amended on October 11, 2001 and October 12, 2002,  the
Company  entered  into  separate  management   agreements  with  Flyfish  Casino
Consulting AG, a Swiss corporation, to secure the services of Mr. Haitzmann, and
with Focus Casino Consulting AG, a Swiss corporation,  to secure the services of
Mr. Hoetzinger,  to provide executive casino management  services to the Company
through December 31, 2005, and for five (5) year renewable  periods  thereafter,
unless sooner  terminated by them or by the Company.  The management  agreements
provide  for an annual base  management  fee of $144,000  and  $120,000  for Mr.
Haitzmann  and Mr.  Hoetzinger,  respectively,  plus such annual  increases  and
bonuses, and such other incentives,  benefits and compensation as may be awarded
to them,  respectively,  by the Compensation Committee of the Board of Directors
of the Company.  Payments to each of these management  companies are included in
the Executive  Compensation  Table. Each of the management fees will be reviewed
annually  by the  Compensation  Committee.  The  management  agreements  further
provide  for  termination  payments to be made for a period of six (6) months if
the management  agreement is terminated by the Company  without cause,  or for a
payment of three times the management  company's annual fee and average bonus if
the termination  occurs (a) after a Change of Control of the Company,  or (b) by
the management company, for cause.

     Both Mr.  Haitzmann  and Mr.  Hoetzinger  are Austrian  citizens,  and have
established  Austrian trusts (The Haitzmann Family Foundation and The Hoetzinger
Family  Foundation,  respectively)  to  hold,  on  behalf  of  their  respective
families,  a certain  portion of their  interests in the Company.  (See Security
Ownership of Certain Beneficial Owners and Management.)

     On January 1, 2002,  the company  entered into a management  agreement with
Respond Limited,  an Isle of Man Company,  to secure services of Mr. Forbes,  to
provide executive  management  services to the Company through December 31, 2005
and  automatically  renewable for additional  successive  periods of five years,
unless sooner terminated by the Company or the management company. The agreement
was unanimously approved by the Board of Directors, as being in the

                                       13
                                     

best  interest  of  the  Company.  The  agreement  provides  for a  base  annual
management  fee in the amount of $120,000  plus any bonuses,  other  incentives,
benefits and compensation that may be awarded by the Compensation Committee. The
management fee is reviewed annually by the Compensation  Committee.  Payments to
the management  company are included in the Executive  Compensation  Table.  The
management  agreements further provide for termination payments to be made for a
period of six (6)  months  if the  management  agreement  is  terminated  by the
Company without cause, or for a payment of three times the management  company's
annual fee and  average  bonus if the  termination  occurs (a) after a Change of
Control of the Company, or (b) by the management company, for cause.

     On April 16, 2003, James Forbes, Director,  elected to exercise all 618,000
of his options,  which carry an average strike price of $1.306.  Mr. Forbes will
pay for the options by  transferring  to the Company  357,080  shares of Century
stock that he owns at a market price of $2.26 per share,  which  represents  the
market  closing price on April 16, 2003.  Upon  completion of the exercise,  Mr.
Forbes has offered to sell to the Company  132,184  shares of stock  obtained in
the exercise at $2.26 per share, the market closing price on April 16, 2003. The
transactions are expected to be completed in the second quarter of 2003.

     Mr. Forbes, who is a resident of South Africa, will also resign,  effective
May 1, 2003, as a member of the Company's Board of Directors,  but will continue
as a member of the Board of Directors  of Century  Casinos  Caledon  Proprietary
Limited,  and will focus his attention on the Company's project in Johannesburg,
in the Gauteng  province of South Africa,  pursuant to the terms of a consulting
agreement  currently  being  negotiated  between Mr. Forbes,  Respond Limited (a
management company controlled by Mr. Forbes), and the Company.

     It is not  anticipated at this time that the vacancy on the Company's Board
of Directors will be filled,  either by the Board or at the stockholders  Annual
Meeting,  and  consequently the number of directors on the Board will be reduced
from six to five.

     Upon  completion  of these  transactions,  respectively,  the Company  will
complete and file all applicable regulatory filings.

     There  have  been no  material  transactions  with  management,  except  as
otherwise disclosed herein,  since the date of the Company's last annual meeting
on July 5, 2002, and the transactions  disclosed in the Proxy Statement for that
meeting.


                                       14
                                     



                                   PROPOSAL 1

                              ELECTION OF DIRECTORS

     The Board is divided  into three  classes of  directors  as nearly equal in
number as possible.  Presently,  the Board consists of six directors  comprising
the following:  (i) two Class I directors,  Mr.  Eichberg and Dr. Dinah Corbaci,
whose terms will expire at the 2004 Annual Meeting; (ii) two Class II directors,
Messrs.  Hoetzinger  and  Forbes,  whose  terms will  expire at the 2005  Annual
Meeting;  and (iii) two Class III directors,  Messrs.  Haitzmann and Schellmann,
who are standing for re-election at the 2003 Annual  Meeting.  Each director who
is elected at an Annual  Meeting will be elected for a three-year  term expiring
at the third Annual  Meeting of  Stockholders  after such  director's  election.
Accordingly,  under most circumstances,  directors of one Class only are elected
at each year's  Annual  Meeting of  Stockholders.  If elected,  all nominees are
expected to serve until the expiration of their respective terms and until their
successors are duly elected and qualified.

     At the 2003 Annual  Meeting,  two Class III directors will be elected.  The
proxies  named on the  enclosed  proxy  intend to vote for the  election  of the
nominees for Class III  directors,  Erwin  Haitzmann and  Gottfried  Schellmann.
Proxies  cannot be voted  for a greater  number  of  directors  than the  number
nominated.

     Erwin Haitzmann,  a nominee for a Class III director, is presently a member
of the Board of Directors,  having served continuously as a director since March
1994. Mr. Haitzmann is also presently serving as Chairman of the Board and Chief
Executive  Officer of the  Company.  He has  indicated a  willingness  to serve;
however, in the event he should become unable to serve as a director,  the proxy
will be voted in accordance  with the best judgment of the persons  acting under
the proxy.

     Gottfried  Schellmann,  a nominee for a Class III director,  is presently a
member of the Board of Directors, having served continuously as a director since
January 1997. He has indicated a willingness to serve;  however, in the event he
should  become  unable  to  serve  as a  director,  the  proxy  will be voted in
accordance with the best judgment of the persons acting under the proxy.

     The information  concerning Mr. Haitzmann and Mr. Schellmann,  the nominees
for the Class III directors,  is set forth above under  "Information  Concerning
Directors and Executive Officers".

THE BOARD OF DIRECTORS RECOMMENDS A VOTE FOR THE ABOVE NOMINEES.
                                         ---

                                       15
                                     

INDEPENDENT ACCOUNTANTS

     Grant Thornton LLP ("Grant Thornton") was the Company's  independent public
accounting  firm for the  fiscal  year  ending  December  31,  2002.  The  Audit
Committee  and the Board of Directors  have  selected  Grant  Thornton to be the
Company's independent  accountants for the fiscal year ending December 31, 2003.
A  representative  of Grant  Thornton  is  expected  to be present at the Annual
Meeting via telephone and/or web cast to respond to appropriate questions.

     On  December  4,  2002,  the Audit  Committee  and the  Board of  Directors
selected  PricewaterhouseCoopers  Inc. as the principal independent auditors for
its subsidiary Century Casinos Africa (Proprietary) Limited. The Audit Committee
and the Board of Directors have approved  PricewaterhouseCoopers  Inc. to be the
Company's  independent auditors for Century Casinos Africa (Proprietary) Limited
for the fiscal year 2003.  Grant  Thornton  Kessel  Feinstein,  a member firm of
Grant Thornton  International,  (the "Former  Auditor") was the previous auditor
for  Century  Casinos  Africa   (Proprietary)   Limited.   The  Company  had  no
disagreements  with the Former Auditor that, if not resolved,  would have caused
the  Former  Auditor  to report  the  disagreement.  There  has been no  adverse
opinion,  disclaimer of opinion,  or qualified  opinion in the Former  Auditor's
report for any of the preceding two years.  The decision to change  auditors was
approved by the Audit Committee of the Board of Directors.


REPORT OF THE AUDIT COMMITTEE

     Notwithstanding  anything to the contrary set forth in any of the Company's
filings under the Securities Act of 1933 or the Securities Exchange Act of 1934,
the  following  report  of the Audit  Committee  shall  not be  incorporated  by
reference  into any such  filings and shall not  otherwise be deemed filed under
such acts.

     In accordance  with its written  charter adopted by the Board of Directors,
the Audit Committee assists the Board of Directors with fulfilling its oversight
responsibility  regarding the quality and integrity of the accounting,  auditing
and financial  reporting  practices of the Company.  The Audit Committee and the
Board of Directors  annually  select the Company's  independent  accountants and
auditors.

     The Audit  Committee  has  reviewed  and  discussed  the audited  financial
statements  of the  Company  for the year  ended  December  31,  2002,  with the
Company's  management.  The  Committee  discussed  with Grant  Thornton LLP, the
Company's  independent  auditors,  the  matters  required  to  be  discussed  by
Statement on Auditing Standards No. 61 (Communication with Audit Committees), as
amended  by   Statement   on  Auditing   Standards   No.  90  (Audit   Committee

                                       16
                                     


Communications).

     The  Committee  has  received the written  disclosures  and the letter from
Grant  Thornton LLP,  required by  Independence  Standards  Board Standard No. 1
(Independence  Discussions with Audit Committees),  and has discussed with Grant
Thornton LLP, its independence.

     Based upon the review and  discussions  noted  above,  the Audit  Committee
recommended  to the Board of  Directors  that the  Company's  audited  financial
statements be included in the Company's  Annual Report on Form 10-K for the year
ended  December  31,  2002,  which was filed with the  Securities  and  Exchange
Commission on March 13, 2003.

     The Board of  Directors  and the  Audit  Committee  believe  that the Audit
Committee's current member composition (three independent  directors)  satisfies
the  applicable  rules  and  pronouncements  of  the  National   Association  of
Securities  Dealers,  Inc. ("NASD") and the Securities and Exchange  Commission,
that govern audit committee selection,  experience,  and composition,  including
the requirement that audit committee  members all be "independent  directors" as
that term is defined by such rules.

Audit Committee:

Robert S. Eichberg, Chairman
Gottfried Schellmann
Dinah Corbaci

     The following table sets forth the aggregate fees billed to the Company for
the year ended December 31, 2002, by Grant Thornton LLP:


  Audit fees.................................................    $    74,815
  Financial information systems design
       and implementation fees...............................              0
  All other fees.............................................         25,913
                                                                    --------
                                                                 $   100,728
                                                                    ========

     The amounts shown above include  out-of-pocket  expenses  incurred by Grant
Thornton in  connection  with the  provision  of such  services in the amount of
$1,663.  Audit fees also include fees relating to quarterly reviews of unaudited
financial statements. Audit fees of $19,237 had been billed through December 31,
2002, and the remaining  $55,578 was billed subsequent to December 31, 2002. The
amount shown for all other fees also  includes  fees relating to tax returns and
benefit plan  audits.  The Audit  Committee of the Coard of Directors  concluded
Grant  Thornton's  provision  of the  services  generating  all  other  fees  is
compatible with maintaining


                                       17
                                     

Grant Thornton's independence.

     The following table sets forth the aggregate fees billed to the Company for
the year ended  December 31, 2002, by  PricewaterhouseCoopers  Inc. for the 2002
financial audit of Century Casinos Africa (Proprietary) Limited:


  Audit fees.................................................    $     45,245
  Financial information systems design
       and implementation fees...............................               0
  All other fees.............................................           4,664
                                                                     --------
                                                                 $     49,909
                                                                     ========

     The  amounts  shown  above  include  out-of-pocket   expenses  incurred  by
PricewaterhouseCoopers Inc. in connection with the provision of such services in
the amount of $1,000.  Audit fees exclude fees relating to quarterly  reviews of
unaudited financial statements.  PricewaterhouseCoopers Inc. was not the auditor
at the time of these reviews.  Audit fees of $0 had been billed through December
31, 2002, and the remaining  $45,245 was billed subsequent to December 31, 2002.
The amount shown for all other fees also  includes fees relating to tax returns.
The Audit Committee of the Board of Directors concluded  PricewaterhouseCooper's
provision  of  the  services  generating  all  other  fees  is  compatible  with
maintaining PricewaterhouseCooper's independence.



                                       18
                                     

PROXY                                                                     PROXY

                             CENTURY CASINOS, Inc.
                This Proxy is Solicited by the Board of Directors

The undersigned stockholder of Century Casinos, Inc. acknowledges receipt of the
Notice of Annual Meeting of Stockholders,  to be held on Monday,  June 16, 2003,
at The Caledon Casino Resort,  Caledon, South Africa at 18:00 hrs. South African
Time (10:00 a.m.  Mountain Time,  12:00 p.m.  Eastern Time, and hereby  appoints
Peter Hoetzinger or Larry  Hannappel,  or either of them, each with the power of
substitution, as attorneys and proxies to vote all the shares of the undersigned
at said Annual Meeting and at all  adjournments  thereof,  hereby  ratifying and
confirming  all that said  attorneys  and  proxies may do or cause to be done by
virtue hereof. The above-named  attorneys and proxies are instructed to vote all
of the undersigned's shares as follows:

          (1)  To elect two Class III directors to the Board of Directors:

                        ERWIN HAITZMANN        [ ] FOR         [ ] WITHHOLD
                        GOTTFRIED SCHELLMANN   [ ] FOR         [ ] WITHHOLD

          (2)  In their discretion, the Proxies are authorized to vote upon such
               other  business as may properly come before the meeting.
                                               [ ] YES         [ ] NO


                  (Continued and to be signed on reverse side)




                           (Continued from other side)

This proxy,  when  properly  executed,  will be voted as directed  herein by the
undersigned  stockholder.  If no direction is made, this proxy will be voted for
the nominees in Proposal 1.

                                 Dated this______ day of _________________, 2003

                                     Signature__________________________________

                                     Signature__________________________________


                    Please  sign your name  exactly  as it appears on your stock
                    certificate.  If shares are held jointly, each holder should
                    sign. Executors,  trustees,  and other fiduciaries should so
                    indicate when signing.

                                               [ ] I plan to attend the meeting.