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Segment Information (Tables)
 9 Months Ended
Sep. 30, 2019
Segment Information [Abstract]  
Aggregation Of Operating Segments Into Reportable Segments



 

Reportable Segment

Operating Segment

Canada

Century Casino & Hotel - Edmonton

Canada

Century Casino Calgary

Canada

Century Downs Racetrack and Casino

Canada

Century Bets!

Canada

Century Casino St. Albert

Canada

Century Mile 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

Century Casino Bath

Corporate and Other

Corporate Other



Segment Information





 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



For the three months ended September 30, 2019

Amounts in thousands

 

Canada

 

United States

 

Poland

 

Corporate and Other

 

Total

Net operating revenue (1)

 

$

 22,063 

 

$

 9,199 

 

$

 20,360 

 

$

 1,313 

 

$

 52,935 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) before income taxes

 

$

 2,169 

 

$

 1,813 

 

$

 1,679 

 

$

 (3,481)

 

$

 2,180 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings (loss) attributable to Century Casinos, Inc. shareholders

 

$

 1,623 

 

$

 1,348 

 

$

 775 

 

$

 (3,264)

 

$

 482 

Interest expense (income), net

 

 

 1,346 

 

 

—

 

 

 51 

 

 

 19 

 

 

 1,416 

Income taxes (benefit)

 

 

 367 

 

 

 465 

 

 

 518 

 

 

 (217)

 

 

 1,133 

Depreciation and amortization

 

 

 1,327 

 

 

 488 

 

 

 797 

 

 

 217 

 

 

 2,829 

Net earnings attributable to non-controlling interests

 

 

 179 

 

 

—

 

 

 386 

 

 

—

 

 

 565 

Non-cash stock-based compensation

 

 

—

 

 

—

 

 

—

 

 

 358 

 

 

 358 

Loss (gain) on foreign currency transactions, cost recovery income and other

 

 

 12 

 

 

—

 

 

 (139)

 

 

 11 

 

 

 (116)

Loss on disposition of fixed assets

 

 

—

 

 

—

 

 

 85 

 

 

 44 

 

 

 129 

Acquisition costs

 

 

—

 

 

—

 

 

—

 

 

 297 

 

 

 297 

Adjusted EBITDA

 

$

 4,854 

 

$

 2,301 

 

$

 2,473 

 

$

 (2,535)

 

$

 7,093 



(1)

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

 







 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



For the three months ended September 30, 2018

Amounts in thousands

 

Canada

 

United States

 

Poland

 

Corporate and Other

 

Total

Net operating revenue (1)

 

$

 15,683 

 

$

 9,360 

 

$

 16,747 

 

$

 1,774 

 

$

 43,564 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) before income taxes

 

$

 2,766 

 

$

 2,121 

 

$

 83 

 

$

 (2,384)

 

$

 2,586 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings (loss) attributable to Century Casinos, Inc. shareholders

 

$

 1,668 

 

$

 1,578 

 

$

 (81)

 

$

 (1,525)

 

$

 1,640 

Interest expense (income), net

 

 

 854 

 

 

—

 

 

 42 

 

 

 (66)

 

 

 830 

Income taxes (benefit)

 

 

 880 

 

 

 543 

 

 

 204 

 

 

 (836)

 

 

 791 

Depreciation and amortization

 

 

 762 

 

 

 545 

 

 

 717 

 

 

 299 

 

 

 2,323 

Net earnings (loss) attributable to non-controlling interests

 

 

 218 

 

 

—

 

 

 (40)

 

 

 (23)

 

 

 155 

Non-cash stock-based compensation

 

 

—

 

 

—

 

 

—

 

 

 266 

 

 

 266 

Gain on foreign currency transactions and cost recovery income

 

 

 (1)

 

 

—

 

 

 (109)

 

 

 (72)

 

 

 (182)

Loss on disposition of fixed assets

 

 

 3 

 

 

—

 

 

 169 

 

 

—

 

 

 172 

Pre-opening expenses

 

 

 446 

 

 

—

 

 

—

 

 

—

 

 

 446 

Other one-time income  (2)

 

 

—

 

 

—

 

 

—

 

 

 (91)

 

 

 (91)

Adjusted EBITDA

 

$

 4,830 

 

$

 2,666 

 

$

 902 

 

$

 (2,048)

 

$

 6,350 



(1)

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

(2)

Other one-time income relates to an arbitration award from LOT Polish Airlines in July 2018.







 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



For the nine months ended September 30, 2019

Amounts in thousands

 

Canada

 

United States

 

Poland

 

Corporate and Other

 

Total

Net operating revenue (1)

 

$

 60,353 

 

$

 26,073 

 

$

 60,221 

 

$

 4,343 

 

$

 150,990 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) before income taxes

 

$

 8,716 

 

$

 4,793 

 

$

 4,566 

 

$

 (11,728)

 

$

 6,347 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings (loss) attributable to Century Casinos, Inc. shareholders

 

$

 5,704 

 

$

 3,564 

 

$

 2,115 

 

$

 (10,398)

 

$

 985 

Interest expense (income), net

 

 

 3,856 

 

 

—

 

 

 142 

 

 

 65 

 

 

 4,063 

Income taxes (benefit)

 

 

 1,913 

 

 

 1,229 

 

 

 1,395 

 

 

 (1,318)

 

 

 3,219 

Depreciation and amortization

 

 

 3,184 

 

 

 1,573 

 

 

 2,284 

 

 

 657 

 

 

 7,698 

Net earnings (loss) attributable to non-controlling interests

 

 

 1,099 

 

 

—

 

 

 1,056 

 

 

 (12)

 

 

 2,143 

Non-cash stock-based compensation

 

 

—

 

 

—

 

 

—

 

 

 979 

 

 

 979 

(Gain) loss on foreign currency transactions, cost recovery income and other

 

 

 (465)

 

 

—

 

 

 (419)

 

 

 5 

 

 

 (879)

(Gain) loss on disposition of fixed assets

 

 

 (1)

 

 

 17 

 

 

 338 

 

 

 342 

 

 

 696 

Acquisition costs

 

 

—

 

 

—

 

 

—

 

 

 1,064 

 

 

 1,064 

Pre-opening expenses

 

 

 538 

 

 

—

 

 

—

 

 

—

 

 

 538 

Adjusted EBITDA

 

$

 15,828 

 

$

 6,383 

 

$

 6,911 

 

$

 (8,616)

 

$

 20,506 



(1)

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







 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



For the nine months ended September 30, 2018

Amounts in thousands

 

Canada

 

United States

 

Poland

 

Corporate and Other

 

 

Total

Net operating revenue (1)

 

$

 45,690 

 

$

 25,542 

 

$

 48,695 

 

$

 3,907 

 

$

 123,834 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) before income taxes

 

$

 8,288 

 

$

 4,844 

 

$

 (177)

 

$

 (7,956)

 

$

 4,999 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings (loss) attributable to Century Casinos, Inc. shareholders

 

$

 5,641 

 

$

 3,602 

 

$

 (329)

 

$

 (6,027)

 

$

 2,887 

Interest expense (income), net

 

 

 2,812 

 

 

 1 

 

 

 153 

 

 

 (50)

 

 

 2,916 

Income taxes (benefit)

 

 

 2,101 

 

 

 1,242 

 

 

 316 

 

 

 (1,875)

 

 

 1,784 

Depreciation and amortization

 

 

 2,433 

 

 

 1,631 

 

 

 2,040 

 

 

 541 

 

 

 6,645 

Net earnings (loss) attributable to non-controlling interests

 

 

 546 

 

 

—

 

 

 (164)

 

 

 (54)

 

 

 328 

Non-cash stock-based compensation

 

 

—

 

 

—

 

 

—

 

 

 613 

 

 

 613 

Gain on foreign currency transactions and cost recovery income

 

 

 (140)

 

 

—

 

 

 (290)

 

 

 (1)

 

 

 (431)

Loss on disposition of fixed assets

 

 

 6 

 

 

 1 

 

 

 1,027 

 

 

 1 

 

 

 1,035 

Pre-opening expenses

 

 

 1,135 

 

 

—

 

 

 405 

 

 

 350 

 

 

 1,890 

Other one-time income  (2)

 

 

—

 

 

—

 

 

—

 

 

 (91)

 

 

 (91)

Adjusted EBITDA

 

$

 14,534 

 

$

 6,477 

 

$

 3,158 

 

$

 (6,593)

 

$

 17,576 



(1)

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

(2)

Other one-time income relates to an arbitration award from LOT Polish Airlines in July 2018.