Segment and Geographic Information

12 Months Ended

Dec. 31, 2015

Segment and Geographic Information [Abstract]

Segment and Geographic Information

13.SEGMENT AND GEOGRAPHIC INFORMATION

The Company reports its financial performance in three reportable segments based on the geographical locations in which its casinos operate: the United States, Canada and Poland. Operating segments are aggregated within reportable segments based on their similar economic characteristics, types of customers, types of services and products provided, the regulatory environments in which they operate, and their management and reporting structure. The Company’s casino properties provide gaming, hotel accommodations, dining facilities and other amenities to the Company’s customers. The Company’s operations related to concession, management and consulting agreements and certain other corporate and management operations have not been identified as separate reportable segments; therefore, these operations are included in Corporate and Other in the following segment disclosures to reconcile to consolidated results. All significant intercompany transactions are eliminated in consolidation.

The table below provides information about the aggregation of the Company’s operating segments into reportable segments:

Reportable Segment	Operating Segment
Canada	Century Casino & Hotel - Edmonton
Canada	Century Casino Calgary
Canada	Century Downs Racetrack and Casino
United States	Century Casino & Hotel – Central City
United States	Century Casino & Hotel – Cripple Creek
Poland	Casinos Poland
Corporate and Other	Cruise Ships & Other
Corporate and Other	Corporate Other

The Company’s chief operating decision maker is a management function comprised of two individuals.  These two individuals are the Company’s Co-Chief Executive Officers. The Company’s chief operating decision makers and management utilize Adjusted EBITDA as a primary profit measure for its reportable segments. Adjusted EBITDA is a non-GAAP measure defined as net earnings (loss) before interest expense (income), net, income taxes (benefit), depreciation, amortization, non-controlling interest (earnings) losses and transactions, pre-opening expenses, acquisition costs, non-cash stock-based compensation charges, asset impairment costs, (gain) loss on disposition of fixed assets, discontinued operations, (gain) loss on foreign currency transactions and other, gain on business combination and certain other one-time items such as the consideration for the early termination of the concession agreements with Oceania and Regent. Intercompany transactions consisting primarily of management and royalty fees and interest, along with their related tax effects, are excluded from the presentation of net earnings (loss) and Adjusted EBITDA reported for each segment. Non-cash stock-based compensation expense is presented under Corporate and Other in the tables below as the expense is not allocated to reportable segments when reviewed by the Company’s chief operating decision makers.

The following summaries provide information regarding the Company’s segment information for the years ended December 31 2015, 2014 and 2013:

Amounts in thousands	For the year ended December 31, 2015
		Canada		United States		Poland		Corporate and Other		Consolidated
Net operating revenue (1)	$	45,900	$	28,438	$	52,208	$	7,885	$	134,431
Net earnings (loss) attributable to Century Casinos, Inc. shareholders	$	7,819	$	2,381	$	2,899	$	(1,192)	$	11,907
Interest expense (income), net		3,160		1		129		(13)		3,277
Income taxes (benefit)		2,110		1,461		1,136		(2,872)		1,835
Depreciation and amortization		2,472		2,558		2,571		398		7,999
Non-controlling interests		152		0		1,448		0		1,600
Non-cash stock-based compensation		0		0		0		1,641		1,641
(Gain) loss on foreign currency transactions and other		(685)		0		(1,444)		3		(2,126)
Loss on disposition of fixed assets		11		0		341		30		382
Acquisition costs		0		0		0		0		0
Preopening expenses		345		0		0		0		345
Other one-time (income) costs (2)		0		0		0		(3,365)		(3,365)
Adjusted EBITDA	$	15,384	$	6,401	$	7,080	$	(5,370)	$	23,495
Long-lived assets	$	64,985	$	52,431	$	12,431	$	1,735	$	131,582
Capital expenditures	$	15,637	$	1,580	$	1,251	$	407	$	18,875

(1) Net operating revenue for Corporate and Other primarily relates to the Company’s cruise ship operations, including the $3.4 million in net operating revenue recognized in connection with the termination of the concession agreements with Oceania and Regent.  

(2) Other one-time (income) costs for Corporate and Other were attributable to the termination of the Oceania and Regent concession agreements. 

Amounts in thousands	For the year ended December 31, 2014
	Canada		United States		Poland		Corporate and Other		Consolidated
Net operating revenue (1)	$	34,599	$	26,707	$	51,191	$	7,551	$	120,048
Net earnings (loss) attributable to Century Casinos, Inc. shareholders	$	6,446	$	1,283	$	(112)	$	(6,385)	$	1,232
Interest expense (income), net		2,473		1		319		(37)		2,756
Income taxes (benefit)		1,971		786		25		(1,275)		1,507
Depreciation and amortization		1,910		2,419		2,839		667		7,835
Non-controlling interests		(2,267)		0		(54)		0		(2,321)
Non-cash stock-based compensation		0		0		0		1,028		1,028
(Gain) loss on foreign currency transactions and other		(193)		0		(342)		18		(517)
Loss on disposition of fixed assets		2		39		587		3		631
Acquisition costs		115		0		0		266		381
Other one-time (income) costs (2)		(103)		0		421		0		318
Adjusted EBITDA	$	10,354	$	4,528	$	3,683	$	(5,715)	$	12,850
Long-lived assets	$	53,870	$	63,246	$	15,120	$	2,391	$	134,627
Capital expenditures	$	11,190	$	834	$	2,742	$	1,331	$	16,097

(1) Net operating revenue for Corporate and Other primarily relates to the Company’s cruise ship operations.

(2) Other one-time (income) costs for Canada were insurance proceeds received and for Poland were the costs associated with relocating the Poznan casino to Hotel Andersia and the write-off of the Sosnowiec casino license.  

Amounts in thousands	For the year ended December 31, 2013
	Canada		United States		Poland		Corporate and Other		Consolidated
Net operating revenue (1)	$	33,749	$	29,193	$	34,817	$	6,829	$	104,588
Net earnings (loss) attributable to Century Casinos, Inc. shareholders	$	5,670	$	2,229	$	12	$	(1,730)	$	6,181
Interest expense (income), net		584		0		374		(48)		910
Income taxes (benefit)		1,643		1,365		145		(1,859)		1,294
Depreciation and amortization		1,948		2,225		1,903		523		6,599
Non-controlling interests		(112)		0		6		0		(106)
Non-cash stock-based compensation		0		0		0		33		33
(Gain) loss on foreign currency transactions and other		(41)		0		(204)		(73)		(318)
Loss on disposition of fixed assets		3		24		505		38		570
Acquisition costs		0		0		0		49		49
Other one-time (income) costs (2)		(57)		0		8		(2,478)		(2,527)
Adjusted EBITDA	$	9,638	$	5,843	$	2,749	$	(5,545)	$	12,685
Long-lived assets	$	54,859	$	57,957	$	18,091	$	1,732	$	132,639
Capital expenditures	$	692	$	1,405	$	1,093	$	1,555	$	4,745

(1) Net operating revenue for Corporate and Other primarily relates to the Company’s cruise ship operations.

(2) Other one-time (income) costs for Canada were insurance proceeds, for Poland was an impairment of long-lived assets and for Corporate and Other were attributable to the gain on bargain purchase recorded for the additional 33.3% ownership interest in CPL and the 15% ownership interest in CDR.