COLORADO SPRINGS, Colo., Nov. 10, 2025 /PRNewswire/ -- Century Casinos, Inc. (the "Company", "we", "us", or "our") (Nasdaq Capital Market®: CNTY) today announced its financial results for the three and nine months ended September 30, 2025.
Third Quarter 2025 Highlights*Compared to the three months ended September 30, 2024:
Net operating revenue was $153.7 million, a decrease of 1%.
Earnings from operations was $17.1 million, a decrease of 4%.
Net loss attributable to Century Casinos, Inc. shareholders was ($10.5) million, a change of (30%), and basic net loss per share was ($0.35).
Adjusted EBITDAR** was $31.1 million, a decrease of 6%.
"We are pleased with the growth in the East and Midwest regions of the United States. At the Nugget in the West region, we continue to focus on increasing local play and enhancing our concert and conference line up to improve results. Poland suffered from one-time costs associated with closing the Hilton Hotel casino. Excluding Poland, third quarter Adjusted EBITDAR would have increased year over year. We look forward to opening the new Wroclaw casino early next year and for results to improve in Poland with no licensing disruptions for the next three years," Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos remarked.
UPDATES
Sports Betting, Missouri – In May 2025, the Company announced that it has partnered with BetMGM to operate an online and mobile sports betting application under the Company's license in Missouri. The agreement includes a percentage of net gaming revenue payable to the Company, with a guaranteed minimum, as well as retail sportsbook options to be exercised at the Company's discretion. Sports betting is expected to begin in Missouri on December 1, 2025.
Poland – The Company was awarded a second license for a casino in the city of Wroclaw in March 2025. The Company expects to open the casino in January 2026.
Rocky Gap Goodwill Impairment – The Company concluded that its previously issued audited financial statements for the year ended December 31, 2024 contained a material error related to the calculation of the carrying value of invested capital used in the valuation of the Rocky Gap reporting unit, which resulted in an impairment of goodwill for this reporting unit, and should be restated. The impairment negatively impacted earnings from operations in the United States and net loss attributable to Century Casinos, Inc. shareholders for the year ended December 31, 2024 but did not impact Adjusted EBITDAR**. The Company today filed a Form 8-K that describes the impairment and plans to file amendments to its Form 10-K for the year ended December 31, 2024 and its Forms 10-Q for the quarters ended March 31, 2025 and June 30, 2025 to reflect the restatements within the next five calendar days.
RESULTS
The consolidated results for the three and nine months ended September 30, 2025 and 2024 are as follows:
For the three months
For the nine months
Amounts in thousands, except per share data
ended September 30,
%
ended September 30,
%
Consolidated Results:
2025
2024
Change
2025
2024
Change
Net Operating Revenue
$
153,724
$
155,701
(1 %)
$
434,984
$
438,147
(1 %)
Earnings from operations
17,126
17,918
(4 %)
40,840
40,466
1 %
Net loss attributable to Century Casinos, Inc. shareholders
$
(10,548)
$
(8,119)
(30 %)
$
(43,470)
$
(63,276)
31 %
Adjusted EBITDAR**
$
31,064
$
32,902
(6 %)
$
81,521
$
81,598
—
Net loss per share attributable to Century Casinos, Inc. shareholders:
Basic
$
(0.35)
$
(0.26)
(35 %)
$
(1.43)
$
(2.07)
31 %
Diluted
$
(0.35)
$
(0.26)
(35 %)
$
(1.43)
$
(2.07)
31 %
RESULTS BY REPORTABLE SEGMENT*
Following is a summary of the changes in net operating revenue by reportable segment for the three and nine months ended September 30, 2025, compared to the three and nine months ended September 30, 2024:
Net Operating Revenue
For the three months
For the nine months
Amounts in
ended September 30,
$
%
ended September 30,
$
%
thousands
2025
2024
Change
Change
2025
2024
Change
Change
United States
$
114,997
$
117,139
$
(2,142)
(2 %)
$
314,396
$
319,680
$
(5,284)
(2 %)
Canada
20,589
20,275
314
2 %
57,109
58,425
(1,316)
(2 %)
Poland
18,138
18,287
(149)
(1 %)
63,479
60,029
3,450
6 %
Corporate and Other
—
—
—
—
—
13
(13)
(100 %)
Consolidated
$
153,724
$
155,701
$
(1,977)
(1 %)
$
434,984
$
438,147
$
(3,163)
(1 %)
Following is a summary of the changes in earnings (loss) from operations by reportable segment for the three and nine months ended September 30, 2025, compared to the three and nine months ended September 30, 2024:
Earnings (Loss) from Operations
For the three months
For the nine months
Amounts in
ended September 30,
$
%
ended September 30,
$
%
thousands
2025
2024
Change
Change
2025
2024
Change
Change
United States
$
18,041
$
18,195
$
(154)
(1 %)
$
40,109
$
40,760
$
(651)
(2 %)
Canada
4,272
3,811
461
12 %
12,166
12,203
(37)
—
Poland
(1,775)
(1,214)
(561)
(46 %)
(1,416)
(1,416)
—
—
Corporate and Other
(3,412)
(2,874)
(538)
(19 %)
(10,019)
(11,081)
1,062
10 %
Consolidated
$
17,126
$
17,918
$
(792)
(4 %)
$
40,840
$
40,466
$
374
1 %
Following is a summary of the changes in net (loss) earnings attributable to Century Casinos, Inc. shareholders by reportable segment for the three and nine months ended September 30, 2025, compared to the three and nine months ended September 30, 2024:
Net (Loss) Earnings Attributable to Century Casinos, Inc. Shareholders
For the three months
For the nine months
Amounts in
ended September 30,
$
%
ended September 30,
$
%
thousands
2025
2024
Change
Change
2025
2024
Change
Change
United States
$
3,155
$
4,701
$
(1,546)
(33 %)
$
(4,884)
$
(25,066)
$
20,182
81 %
Canada
297
1,134
(837)
(74 %)
832
3,276
(2,444)
(75 %)
Poland
(1,176)
(681)
(495)
(73 %)
(1,090)
(716)
(374)
(52 %)
Corporate and Other
(12,824)
(13,273)
449
3 %
(38,328)
(40,770)
2,442
6 %
Consolidated
$
(10,548)
$
(8,119)
$
(2,429)
(30 %)
$
(43,470)
$
(63,276)
$
19,806
31 %
Items deducted from or added to earnings (loss) from operations to arrive at net (loss) earnings attributable to Century Casinos, Inc. shareholders include interest income, interest expense, gains (losses) on foreign currency transactions and other, income tax (benefit) expense, and non-controlling interests. Interest expense, primarily from the master lease with subsidiaries of VICI Properties, Inc. (the "Master Lease"), negatively impacts net loss attributable to Century Casinos, Inc. shareholders. Income tax expense decreased significantly for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024 due to a valuation allowance on the Company's net deferred tax assets related to the United States resulting in $23.8 million of tax expense for the nine months ended September 30, 2024.
Following is a summary of the changes in Adjusted EBITDAR** by reportable segment for the three and nine months ended September 30, 2025 compared to the three and nine months ended September 30, 2024:
Adjusted EBITDAR**
For the three months
For the nine months
Amounts in
ended September 30,
$
%
ended September 30,
$
%
thousands
2025
2024
Change
Change
2025
