Segment Information (Tables)

6 Months Ended

Jun. 30, 2022

Aggregation Of Operating Segments Into Reportable Segments


Reportable Segment	Operating Segment	Reporting Unit
United States	Colorado	Century Casino & Hotel - Central City
		Century Casino & Hotel - Cripple Creek
	West Virginia	Mountaineer Casino, Racetrack & Resort
	Missouri	Century Casino Cape Girardeau
		Century Casino Caruthersville
Canada	Edmonton	Century Casino & Hotel - Edmonton
		Century Casino St. Albert
		Century Mile Racetrack and Casino
	Calgary	Century Downs Racetrack and Casino
		Century Sports ⁽¹⁾
		Century Bets! Inc. ⁽¹⁾
Poland	Poland	Casinos Poland
Corporate and Other	Corporate and Other	Cruise Ships & Other
		Corporate Other ⁽²⁾

(1)The Company operated Century Sports through February 10, 2022. The Company operated Century Bets! Inc. through August 2021, when operations were transferred to Century Mile. For more information about Century Sports and Century Bets! Inc., see Note 1.

(2)The Company’s equity investment in Smooth Bourbon is included in the Corporate Other reporting unit.

Segment Information


	For the three months ended June 30, 2022
Amounts in thousands			United States		Canada		Poland		Corporate and Other		Total
Net operating revenue ⁽¹⁾		$	70,313	$	19,037	$	21,707	$	65	$	111,122

Earnings (loss) before income taxes		$	10,521	$	3,783	$	2,498	$	(17,372)	$	(570)

Net earnings (loss) attributable to Century Casinos, Inc. shareholders		$	10,521	$	2,875	$	1,322	$	(5,862)	$	8,856
Interest expense (income), net ⁽²⁾			7,103		585		(54)		14,162		21,796
Income taxes (benefit)			—		574		515		(11,510)		(10,421)
Depreciation and amortization			4,758		1,226		676		119		6,779
Net earnings attributable to non-controlling interests			—		334		661		—		995
Non-cash stock-based compensation			—		—		—		1,012		1,012
(Gain) loss on foreign currency transactions, cost recovery income and other			—		(34)		(397)		7		(424)
Loss (gain) on disposition of fixed assets			—		8		1		(121)		(112)
Acquisition costs			—		—		—		1,297		1,297
Adjusted EBITDA		$	22,382	$	5,568	$	2,724	$	(896)	$	29,778

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

(2)Expense of $7.1 million related to the Master Lease is included in interest expense (income), net in the United States segment. Expense of $0.6 million related to the CDR land lease is included in interest expense (income), net in the Canada segment. Cash payments related to the Master Lease and CDR land lease were $6.4 million and $0.7 million, respectively, for the period presented. Expense of $7.3 million related to the write-off of deferred financing costs in connection with the prepayment of the Macquarie Term Loan is included in interest expense (income), net in the Corporate and Other segment.


	For the three months ended June 30, 2021
Amounts in thousands			United States		Canada		Poland		Corporate and Other		Total
Net operating revenue ⁽¹⁾		$	76,700	$	6,658	$	8,689	$	138	$	92,185

Earnings (loss) before income taxes		$	16,502	$	(1,018)	$	(1,839)	$	(6,253)	$	7,392

Net earnings (loss) attributable to Century Casinos, Inc. shareholders		$	16,502	$	(1,525)	$	(1,038)	$	(7,084)	$	6,855
Interest expense (income), net⁽²⁾			7,027		396		11		3,253		10,687
Income taxes (benefit)			—		572		(283)		831		1,120
Depreciation and amortization			4,509		1,251		768		105		6,633
Net loss attributable to non-controlling interests			—		(65)		(518)		—		(583)
Non-cash stock-based compensation			—		—		—		323		323
Loss on foreign currency transactions and cost recovery income			—		10		18		5		33
Loss (gain) on disposition of fixed assets			209		—		—		(39)		170
Adjusted EBITDA		$	28,247	$	639	$	(1,042)	$	(2,606)	$	25,238

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

(2)Expense of $7.0 million related to the Master Lease is included in interest expense, net in the United States segment. Expense of $0.4 million related to the CDR land lease is included in interest expense, net in the Canada segment. Cash payments related to the Master Lease and CDR land lease were $6.3 million and $0.6 million, respectively, for the period presented.

‎


	For the six months ended June 30, 2022
Amounts in thousands			United States		Canada		Poland		Corporate and Other		Total
Net operating revenue ⁽¹⁾		$	135,556	$	35,039	$	43,531	$	98	$	214,224

Earnings (loss) before income taxes		$	19,038	$	5,726	$	4,454	$	(25,644)	$	3,574

Net earnings (loss) attributable to Century Casinos, Inc. shareholders		$	19,038	$	2,170	$	2,255	$	(14,389)	$	9,074
Interest expense (income), net ⁽²⁾			14,109		1,152		(67)		17,395		32,589
Income taxes (benefit)			—		1,197		1,072		(11,255)		(8,986)
Depreciation and amortization			9,526		2,452		1,356		240		13,574
Net earnings attributable to non-controlling interests			—		2,359		1,127		—		3,486
Non-cash stock-based compensation			—		—		—		1,685		1,685
Loss (gain) on foreign currency transactions, cost recovery income and other ⁽³⁾			—		209		(379)		(5)		(175)
Loss (gain) on disposition of fixed assets			19		23		4		(121)		(75)
Acquisition costs			—		—		—		2,429		2,429
Adjusted EBITDA		$	42,692	$	9,562	$	5,368	$	(4,021)	$	53,601

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

(2)Expense of $14.1 million related to the Master Lease is included in interest expense (income), net in the United States segment. Expense of $1.1 million related to the CDR land lease is included in interest expense (income), net in the Canada segment. Cash payments related to the Master Lease and CDR land lease were $10.6 million and $1.0 million respectively, for the period presented. Expense of $7.3 million related to the write-off of deferred financing costs in connection with the prepayment of the Macquarie Term Loan is included in interest expense (income), net in the Corporate and Other segment.

(3)Loss of $2.2 million related to the sale of the land and building in Calgary is included in the Canada segment.


	For the six months ended June 30, 2021
Amounts in thousands			United States		Canada		Poland		Corporate and Other		Total
Net operating revenue ⁽¹⁾		$	141,072	$	8,666	$	14,599	$	262	$	164,599

Earnings (loss) before income taxes		$	27,096	$	(4,510)	$	(5,196)	$	(11,802)	$	5,588

Net earnings (loss) attributable to Century Casinos, Inc. shareholders		$	27,096	$	(5,040)	$	(2,873)	$	(13,747)	$	5,436
Interest expense (income), net ⁽²⁾			13,962		703		15		6,530		21,210
Income taxes (benefit)			—		163		(889)		1,945		1,219
Depreciation and amortization			9,036		2,473		1,562		205		13,276
Net earnings (loss) attributable to non-controlling interests			—		367		(1,434)		—		(1,067)
Non-cash stock-based compensation			—		—		—		582		582
(Gain) loss on foreign currency transactions, cost recovery income and other			—		(548)		11		(411)		(948)
Loss (gain) on disposition of fixed assets			282		32		—		(39)		275
Adjusted EBITDA		$	50,376	$	(1,850)	$	(3,608)	$	(4,935)	$	39,983

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

(2)Expense of $14.0 million related to the Master Lease is included in interest expense, net in the United States segment. Expense of $0.7 million related to the CDR land lease is included in interest expense, net in the Canada segment. Cash payments related to the Master Lease and CDR land lease were $10.5 million and $0.9 million respectively, for the period presented.