<DOCUMENT>
<TYPE>SC 13G/A
<SEQUENCE>1
<FILENAME>y45481dsc13ga.txt
<DESCRIPTION>AMENDMENT NO. 5 TO SCHEDULE 13G
<TEXT>

<PAGE>   1
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  SCHEDULE 13G
                                 (RULE 13d-102)

             INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
            TO RULES 13d(b), (c) AND (d) AND AMENDMENTS THERETO FILED
                        PURSUANT TO RULE 13d-2(b) AND (d)
                               (AMENDMENT NO. 5)*


                              Century Casinos, Inc.
--------------------------------------------------------------------------------
                                (Name of Issuer)

                          Common Stock, $.01 par value
--------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                    156492100
             ------------------------------------------------------
                                 (CUSIP Number)

                                December 31, 2000
             ------------------------------------------------------
             (Date of Event which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
                                 [ ] Rule 13d-1(b)
                                 [X] Rule 13d-1(c)
                                 [ ] Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
<PAGE>   2
                                  SCHEDULE 13G

-------------------                                            -----------------
CUSIP NO. 156492100                                            PAGE 2 OF 4 PAGES
-------------------                                            -----------------

--------------------------------------------------------------------------------
1   NAME OF REPORTING PERSON
    S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
    Lloyd I. Miller, III                                          ###-##-####
    ----------------------------------------------------------------------------
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                    (a) [ ]
                                                                         (b) [ ]
--------------------------------------------------------------------------------
3   SEC USE ONLY

--------------------------------------------------------------------------------
4   CITIZENSHIP OR PLACE OF ORGANIZATION
    United States
--------------------------------------------------------------------------------
      NUMBER OF             5  SOLE VOTING POWER
       SHARES                  1,241,616***
    BENEFICIALLY            ----------------------------------------------------
      OWNED BY              6  SHARED VOTING POWER
        EACH                   1,160,264***
      REPORTING             ----------------------------------------------------
       PERSON               7  SOLE DISPOSITIVE POWER
        WITH                   1,241,616***
                            ----------------------------------------------------
                            8  SHARED DISPOSITIVE POWER
                               1,160,264***
--------------------------------------------------------------------------------
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    2,401,880***
--------------------------------------------------------------------------------
10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*    [ ]

--------------------------------------------------------------------------------
11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    17.1%***
--------------------------------------------------------------------------------
12  TYPE OF REPORTING PERSON
    IN-IA-OO**
--------------------------------------------------------------------------------
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!

** See Item 4.

*** Miller's Amendment No. 4 to Schedule 13G inaccurately stated the amount
of shares Miller beneficially owned at the time of that filing. This Amendment
No. 5 to Schedule 13G accurately states the number of shares Miller currently
beneficially owns.
<PAGE>   3
                                                                     Page 3 of 4


Item 1(a). Name of Issuer:               Century Casinos, Inc.

Item 1(b). Address of Issuers's          200-220 E. Bennett Ave., Cripple Creek,
Principal Executive Offices:             Colorado 80913.



Item 2(a). Name of Person Filing:        Lloyd I. Miller, III

Item 2(b). Address of Principal Business     4550 Gordon Drive,
           Office or, if None, Residence:    Naples, Florida 34102



Item 2(c). Citizenship:                  U.S.A.

Item 2(d). Title of Class of Securities: Common Stock, $0.01 par value

Item 2(e). CUSIP Number:                 156492100

Item 3.  IF THIS STATEMENT IS FILED PURSUANT TO RULE 13d-1(b) OR 13d-2(b) or
         (c), CHECK WHETHER THE PERSON FILING IS A:

         Not Applicable, this statement is filed pursuant to 13d-1(c)


Item 4.*** OWNERSHIP: The reporting person shares dispositive and voting power
         with respect to 1,160,264 of the reported securities as an advisor to
         the trustee of certain family trusts and with respect to shares owned
         by his wife. Miller has sole dispositive and voting power with respect
         to 1,241,616 of the reported securities (i) as the custodian to
         accounts set up under the Florida Uniform Gift to Minors Act, (ii) as
         an individual, (iii) as the trustee to certain trusts and/or (iv) as
         the manager a limited liability company that is the general partner of
         certain limited partnerships.

         (a)   2,401,880

         (b)   17.1%

         (c)   (i) sole voting power:   1,241,616

               (ii) shared voting power: 1,160,264

               (iii) sole dispositive power: 1,241,616

               (iv) shared dispositive power: 1,160,264

Item 5.  OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:

         Not Applicable

--------
         *** Miller's Amendment No. 4 to Schedule 13G inaccurately stated
the amount of shares Miller beneficially owned at the time of that filing. This
Amendment No. 5 to Schedule 13G accurately states the number of shares Miller
currently beneficially owns.
<PAGE>   4
                                                                     Page 4 of 4


Item 6.  OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON:

         Persons other than Lloyd I. Miller III have the right to receive
         dividends from, or the proceeds from the sale of, the reported
         securities. None of these persons has the right to direct such
         dividends or proceeds.

Item 7.  IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
         SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY:

         Not Applicable

Item 8.  IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:

         Not Applicable

Item 9.  NOTICE OF DISSOLUTION OF GROUP:

         Not Applicable

Item 10. CERTIFICATION:

         By signing below I certify that, to the best of my knowledge and
         belief, the securities referred to above were not acquired and are not
         held for the purpose of or with the effect of changing or influencing
         the control of the issuer of the securities and were not acquired and
         are not held in connection with or as a participant in any transaction
         having that purposes or effect.

                                    SIGNATURE

         After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.


Dated: February 13, 2001                       /s/ Lloyd I. Miller
                                               ---------------------------------
                                               Lloyd I. Miller, III
</TEXT>
</DOCUMENT>
