CALGARY - The Silver Dollar Casino is poised to usher in 2010 under a new owner, as international player Century Casinos, Inc. strikes an agreement to acquire the one-time gaming hot spot lock, stock and barrel.

In a transaction pegged at $10.6 million US, Colorado-based Century said its Austrian subsidiary will acquire all of the outstanding common stock of Frank Sisson’s Silver Dollar Ltd., as well as 100 per cent of the outstanding common stock of the EGC Properties Ltd., owner of the Silver Dollar, and associated land.

Century, an international casino entertainment company, is looking forward to expanding its operations in Alberta, said Larry Hannappel, the U.S. company’s senior-vice president.

Century owns and operates Edmonton’s Century Casino & Hotel, as well as casino properties in Colorado and aboard five luxury cruise vessels.

“All of Alberta is a good market for us,” Hannappel said in an interview.

“We feel like this casino in Calgary is a good fit for us.”

The total purchase price of the transaction will be paid out of the company’s cash on hand.

The value of the transaction is roughly half of the $22 million one-time Silver Dollar owner Frank Sisson commanded in 2007 when he sold his namesake casino to Richmond-based Evergreen Gaming Corp., which fell into financial dire straits soon afterwards as the economy soured.

Evergreen filed for creditor protection in April. In June, British Columbia courts turned over operations of the Silver Dollar to a subsidiary of accounting firm Grant Thornton LLP and appointed it receiver manager of the casino.

Reached in Phoenix, Sisson said he’s glad to know Century is behind the move, noting the company has “big pockets.”

“It’s good to see somebody with money behind it and . . . an intention to do something with it,” Sisson said.