COLORADO SPRINGS, Colo., March 13, 2026 /CNW/ -- Century Casinos, Inc. (the "Company", "we", "us", or "our") (Nasdaq Capital Market®: CNTY) today announced its financial results for the three months and year ended December 31, 2025.
Fourth Quarter 2025 Results*Compared to the three months ended December 31, 2024:
Net operating revenue was $138.0 million and remained constant.
Earnings from operations was $10.4 million, an increase of 117%.
Net loss attributable to Century Casinos, Inc. shareholders was ($17.9) million, a change of 80%, and basic net loss per share was ($0.61).
Adjusted EBITDAR** was $23.9 million, an increase of 13%.
2025 Results*Compared to the year ended December 31, 2024:
Net operating revenue was $573.0 million, a decrease of (1%).
Earnings from operations were $51.3 million, an increase of 331%.
Net loss attributable to Century Casinos, Inc. shareholders was ($61.4) million, a change of 60%, and basic net loss per share was ($2.04).
Adjusted EBITDAR** was $105.4 million, an increase of 3%.
"We are beginning to see improvements with the lower-end of our customer base and we are pleased with the 13% Adjusted EBITDAR** growth and the margin improvement in the fourth quarter of 2025, but we believe our portfolio of casinos has not yet shown its full potential. We continue to make progress with robust discussions around strategic alternatives, including the sale of our operations in Poland," Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos, remarked.
* Amounts presented are rounded. As such, rounding differences could occur in period over period changes and percentages reported.** Adjusted EBITDAR is a Non-US GAAP financial measure. See discussion and reconciliation of Non-US GAAP financial measures in Supplemental Information below.
UPDATES
Missouri Sports Betting, In May 2025, we announced that we have partnered with BetMGM, LLC to operate a sports book at Cape Girardeau and an online and mobile sports betting application under our license in Missouri. On December 1, 2025, the sports book at Cape Girardeau opened and online betting started. The agreement includes a percentage of net gaming revenue payable to us, with a guaranteed minimum.
Poland, We opened the second casino in Wroclaw in February 2026.
RESULTS
The consolidated results for the three months and years ended December 31, 2025 and 2024 are as follows:
For the three months
For the year
Amounts in thousands, except per share data
ended December 31,
%
ended December 31,
%
Consolidated Results:
2025
2024
Change
2025
2024
Change
Net operating revenue
$
137,992
$
137,766
--
$
572,975
$
575,919
(1 %)
Earnings (loss) from operations
10,439
(62,627)
117 %
51,279
(22,157)
331 %
Net loss attributable to Century Casinos, Inc. shareholders
$
(17,946)
$
(90,325)
80 %
$
(61,416)
$
(153,601)
60 %
Adjusted EBITDAR**
$
23,856
$
21,078
13 %
$
105,377
$
102,678
3 %
Net loss per share attributable to Century Casinos, Inc. shareholders:
Basic
$
(0.61)
$
(2.94)
79 %
$
(2.04)
$
(5.02)
59 %
Diluted
$
(0.61)
$
(2.94)
79 %
$
(2.04)
$
(5.02)
59 %
RESULTS BY REPORTABLE SEGMENT*
The Company's net operating revenue remained constant and decreased by ($2.9) million, or (1%), for the three months and year ended December 31, 2025 compared to the three months and year ended December 31, 2024. Following is a summary of the changes in net operating revenue by reportable segment for the three months and year ended December 31, 2025 compared to the three months and year ended December 31, 2024:
Net Operating Revenue
For the three months
For the year
Amounts in
ended December 31,
$
%
ended December 31,
$
%
thousands
2025
2024
Change
Change
2025
2024
Change
Change
US East
$
39,971
$
40,970
$
(999)
(2 %)
$
169,496
$
171,640
$
(2,144)
(1 %)
US Midwest
40,756
39,927
829
2 %
163,810
160,536
3,274
2 %
US West
17,746
19,084
(1,338)
(7 %)
79,561
87,492
(7,931)
(9 %)
Canada
18,818
17,894
924
5 %
75,929
76,317
(388)
(1 %)
Poland
20,690
19,870
820
4 %
84,168
79,900
4,268
5 %
Other (1)
11
21
(10)
(48 %)
11
34
(23)
(68 %)
Consolidated
$
137,992
$
137,766
$
226
--
$
572,975
$
575,919
$
(2,944)
(1 %)
(1)
Represents additional business activities including certain other corporate and management operations that are not included in the Company's reportable segments. Information is presented for reconciliation purposes.
The Company's earnings from operations increased by $73.1 million, or 117%, and by $73.4 million, or 331%, for the three months and year ended December 31, 2025 compared to the three months and year ended December 31, 2024. Following is a summary of the changes in earnings (loss) from operations by reportable segment for the three months and year ended December 31, 2025 compared to the three months and year ended December 31, 2024:
Earnings (Loss) from Operations
For the three months
For the year
Amounts in
ended December 31,
$
%
ended December 31,
$
%
thousands
2025
2024
Change
Change
2025
2024
Change
Change
US East
$
2,021
$
(24,832)
$
26,853
108 %
$
11,905
$
(15,783)
$
27,688
175 %
US Midwest
10,415
9,812
603
6 %
43,028
42,731
297
1 %
US West
(2,075)
(45,960)
43,885
95 %
(4,463)
(47,164)
42,701
91 %
Canada
3,762
3,630
132
4 %
15,928
15,832
96
1 %
Poland
62
(2,310)
2,372
103 %
(1,356)
(3,726)
2,370
64 %
Other (1)
(3,746)
(2,967)
(779)
(26 %)
(13,763)
(14,047)
284
2 %
Consolidated
$
10,439
$
(62,627)
$
73,066
117 %
$
51,279
$
(22,157)
$
73,436
331 %
(1)
Represents additional business activities including certain other corporate and management operations that are not included in the Company's reportable segments. Information is presented for reconciliation purposes.
Earnings (loss) from operations in 2024 was impacted by the impairment of goodwill at the Nugget and Rocky Gap, resulting in $70.2 million of expense during the fourth quarter of 2024.
Net loss attributable to Century Casinos, Inc. shareholders improved by $72.4 million, or 80%, and by $92.2 million, or 60%, for the three months and year ended December 31, 2025 compared to the three months and year ended December 31, 2024. Following is a summary of the changes in net (loss) earnings attributable to Century Casinos, Inc. shareholders by reportable segment for the three months and year ended December 31, 2025 compared to the three months and year ended December 31, 2024:
Net (Loss) Earnings Attributable to Century Casinos, Inc. Shareholders
For the three months
For the year
Amounts in
ended December 31,
$
%
ended December 31,
$
%
thousands
2025
2024
Change
Change
2025
2024
Change
Change
US East
$
(4,548)
$
(31,297)
$
26,749
85 %
$
(14,161)
$
(47,106)
$
32,945
70 %
US Midwest
3,511
3,920
(409)
(10 %)
16,069
6,542
9,527
146 %
US West
(3,887)
(48,811)
44,924
92 %
(11,716)
(61,289)
49,573
81 %
Canada
806
117
689
589 %
1,639
3,390
(1,751)
(52 %)
Poland
(21)
(1,194)
1,173
98 %
(1,110)
(1,909)
799
42 %
Other (1)
(13,807)
(13,060)
(747)
(6 %)
(52,137)
(53,229)
1,092
2 %
Consolidated
$
(17,946)
$
(90,325)
$
72,379
80 %
$
(61,416)
$
(153,601)
$
92,185
60 %
(1)
Represents additional business activities including certain other corporate and management operations that are not included in the Company's reportable segments. Information is presented for reconciliation purposes.
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. Increased interest expense negatively impacted net loss (earnings) attributable to Century Casinos, Inc. shareholders. Net loss (earnings) attributable to Century Casinos, Inc. shareholders in 2024 also was impacted by the recording of a valuation allowance on our net deferred tax assets related to the United States resulting in additional income tax expense and, as stated above, the impairment of goodwill at the Nugget and Rocky Gap during the fourth quarter of 2024.
Adjusted EBITDAR** increased by $2.8 million, or 13%, and by $2.7 million, or 3%, for the three months and year ended December 31, 2025 compared to the three months and year ended December 31, 2024. Following is a summary of the changes in Adjusted EBITDAR** by reportable segment for the three months and year ended December 31, 2025 compared to the three months and year ended December 31, 2024:
Adjusted EBITDAR**
For the three months
For the year
Amounts in
ended December 31,
$
%
ended December 31,
$
%
thousands
2025
2024
Change
Change
2025
2024
Change
Change
US East
$
5,915
$
5,712
$
203
4 %
$
27,277
$
27,028
$
249
1 %
US Midwest
14,239
13,636
603
4 %
58,368
