Exhibit 10.81
Letter Amendment to Note Agreement dated April 1, 1999, by and between
Century Casinos, Inc. and Xxxxxx Xxxx
April 1, 1999
Mr. Xxxxxx Xxxx
Xxxxxxxxxxxxxxxxxxx 00
X-0000 Xxxxx Xxxxxxxxx
Xxxxxxx
Dear Xxxxxx:
This letter shall amend the terms of your loan to Century Casinos, Inc.
("Century"), which terms were last amended by agreement of the parties on June
5, 1996 (copy attached). As of March 31, 1999, Century shows a note payable to
you in the principal amount of $420,360, plus accrued interest of $63,054. The
terms of Century's note payable to you are hereby amended to be as follows:
Principal payment due X. Xxxx on 4/1/99: $100,000
Remaining principal amount of note (including
all previously accrued interest through 3/31/99)
after 4/1/99 principal payment: $380,000
Term of note: 5 years (matures 4/1/04)
Interest from 4/1/99 forward: 6% per annum
Payable quarterly in advance
Unpaid principal may be called, in whole or in part, by X. Xxxx, in writing
to the Company, on any anniversary date beginning 4/1/00, with payment to be
made by Company nine (9) months thereafter (e.g. if call made on 4/1/00,
principal payment is due and payable 1/1/01).
The foregoing terms and provisions supersede all previous terms and provisions
of Century's note payable to you. If these revised terms and provisions are
acceptable to you, please acknowledge by signing below and returning a copy to
me at your earliest convenience.
Sincerely,
for Century Casinos, Inc. Accepted and agreed to as of April 1,1999
/s/ Xxxx Xxxxxx /s/ Xxxxxx Xxxx
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Xxxx Xxxxxx Xxxxxx Xxxx
Vice President - Finance and
Chief Accounting Officer
