#USA #financial results #Q3 2025 #Colorado Springs #Century Casinos

Century Casinos, Inc. Announces Third Quarter 2025 Results

Century Casinos, Inc. (Nasdaq Capital Market®: CNTY) has reported its third quarter financial results for the year 2025, revealing significant insights into its operations across regions. The company recorded a net operating revenue of $153.7 million, reflecting a slight decrease of 1% compared to the same period last year. Despite economic challenges in some sectors, Century Casinos noted performance growth in the East and Midwest regions of the United States, while operations in the West and Poland experienced setbacks.

Financial Performance Highlights

During the third quarter of 2025, Century Casinos faced a 4% decrease in earnings from operations, amounting to $17.1 million. The net loss attributable to shareholders widened to $10.5 million, compared to $8.1 million in the same quarter of 2024. In addition, the basic net loss per share rose to $0.35, reflecting a 30% change year-over-year. Adjusted EBITDAR also saw a decline of 6%, totaling $31.1 million.

Erwin Haitzmann and Peter Hoetzinger, Co-CEOs of Century Casinos, expressed optimism regarding growth opportunities despite regional declines. They highlighted the company's strategy to attract local patrons and enhance entertainment offerings at the Nugget Casino Resort in the West region, while addressing challenges faced in Poland due to one-time costs linked to the closure of the Hilton Hotel casino. Positively, they anticipate a boost in performance with the forthcoming opening of the Wroclaw casino in early 2026, aiming to minimize licensing disruptions for the upcoming three years.

Expansion into Sports Betting

In strategic developments, Century Casinos announced a partnership with BetMGM to launch an online and mobile sports betting platform in Missouri. This venture is set to go live on December 1, 2025, promising a share of net gaming revenue to Century Casinos alongside guaranteed minimum returns. This initiative marks an important step for the company in diversifying its revenue streams through the growing sports betting sector.

Regional Analysis

Breaking down the performance by region, the United States reported revenues of $114.997 million, down 2% from $117.139 million in Q3 of 2024. Canada, however, saw a minor growth, generating $20.589 million, up 2%. Poland's performance remained flat, with revenues of $18.138 million, reflecting a slight decrease of 1%.

Corporate Financial Adjustments

The company also flagged a material error in its previously issued financial statements regarding the goodwill valuation for the Rocky Gap reporting unit. This necessitated a restatement which negatively impacted both operating earnings and the net loss attributable to shareholders. These adjustments are being addressed through upcoming filings with the SEC.

Despite these challenges, Century Casinos remains committed to its financial health, ending the quarter with $77.7 million in cash and cash equivalents. The outstanding debt was recorded at $338.7 million, with management focusing on maintaining a healthy balance sheet amidst ongoing investments in property and equipment. They emphasized the importance of a sound financial framework to support future growth initiatives.

Future Outlook

Looking ahead to the remainder of 2025, Century Casinos aims to bolster its position in the gaming industry through careful management of existing operations and innovative expansion strategies. With the anticipated opening of new casinos and the introduction of sports betting platforms, the company is hopeful about reversing the current trends in performance and achieving more favorable results in the near future.

In conclusion, while Century Casinos navigates through short-term challenges, its proactive approach towards enhancing customer engagement and expanding operational avenues suggests a strategic path forward as it endeavors to maintain robust growth in the competitive landscape of the gaming industry.