8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 7, 2023

CENTURY CASINOS, INC.

(Exact Name of Registrant as specified in its charter)

Delaware	0-22900	84-1271317
(State or other jurisdiction	(Commission	(I.R.S. Employer
of incorporation)	File Number)	Identification Number)

455 E. Pikes Peak Ave., Suite 210, Colorado Springs, Colorado	80903
(Address of principal executive offices)	(Zip Code)
Registrant’s telephone number, including area code:	719-527-8300

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.01 Per Share Par Value	CNTY	Nasdaq Capital Market, Inc.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

‎

Item 2.02 Results of Operations and Financial Condition.

On August 8, 2023, Century Casinos, Inc., a Delaware corporation (the “Company”), issued a press release reporting its financial results for the second quarter of 2023. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report.

Item 7.01 Regulation FD Disclosure.

The Company is furnishing as Exhibit 99.2 a presentation to be used in connection with the Company’s second quarter of 2023 earnings conference call on Wednesday, August 8, 2023, and for future meetings with investors, stockholders and analysts.

The information in this report and Exhibits 99.1 and 99.2 attached hereto (i) is being furnished and shall not be deemed “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and (ii) shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

This report (including Exhibits 99.1 and 99.2) may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Factors that could cause the Company’s actual results to differ materially from those described in the forward-looking statements can be found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, that has been filed with the Securities and Exchange Commission. The Company does not undertake to update the forward-looking statements to reflect the impact of circumstances or events that may arise after the date of the forward-looking statements.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Description
99.1	Century Casinos, Inc. Press Release dated August 8, 2023
99.2	Century Casinos, Inc. Investor Presentation dated August 8, 2023
104	Cover Page Interactive Data File, formatted in Inline XBRL

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Century Casinos, Inc.

Date: August 7, 2023

By: /s/ Margaret Stapleton

Margaret Stapleton

Chief Financial Officer

EX-99.1

PRESS RELEASE

August 8, 2023

Century Casinos, Inc. Announces Second Quarter 2023Results

Colorado Springs, Colorado – August 8, 2023 – Century Casinos, Inc. (Nasdaq Capital Market®: CNTY) today announced its financial results for the three and six months ended June 30, 2023.  

Second Quarter 2023Highlights*

Compared to the three months ended June 30, 2022:

· Net operating revenue was $136.8 million, an increase of 23%.

· Earnings from operations were $18.6 million, a decrease of 10%.

· Net loss attributable to Century Casinos, Inc. shareholders was ($2.0) million, a decrease of (122%).

· Adjusted EBITDA** was $29.3 million, a decrease of (2%).

· Loss per share was ($0.06).

· Book value per share*** at June 30, 2023 was $4.77.

ROCKY GAP CASINO RESORT ACQUISITION

On July 25, 2023, the Company completed its previously announced acquisition of the operations of Rocky Gap Casino Resort in Flintstone, Maryland, (“Rocky Gap”) for $61.2 million (subject to certain adjustments) (the “Rocky Gap Acquisition”). Simultaneous with the closing of the transaction,an affiliate of VICI Properties, Inc. (“VICI”) acquired a related interest in the land and building associated with Rocky Gap for approximately $203.9 million and the Company amended its triple net master lease agreement (“Master Lease”) with subsidiaries of VICI to add the Rocky Gap property. The amendment to the Master Lease includes an increase in initial annualized rent of approximately $15.5 million. The Company funded the Rocky Gap Acquisition with $30.0 million borrowed from its revolving facility under its existing credit agreement with Goldman Sachs Bank USA (the “Goldman Credit Agreement”) and cash on hand.

CANADA REAL ESTATE SALE

On May 16, 2023, the Company entered into definitive agreements for subsidiaries of VICI PropCo Buyer to acquire the real estate assets of Century Casino & Hotel Edmonton in Edmonton, Alberta, Century Casino St. Albert in Edmonton, Alberta, Century Mile Racetrack and Casino in Edmonton, Alberta and Century Downs Racetrack and Casino (“CDR”) in Calgary, Alberta (collectively, the “Century Canadian Portfolio”) for an aggregate purchase price of CAD 221.7 million ($167.3 million based on the exchange rate on June 30, 2023) in cash (the “Canada Real Estate Sale”). The purchase price includes CAD 192.3 million ($142.6 million based on the exchange rate on May 16, 2023) to be paid to subsidiaries of the Company and approximately CAD 29.4 million ($21.8 million based on the exchange rate on May 16, 2023) to acquire the fee simple real estate interest in Century Downs from the owner of such interest. The Company anticipates retaining approximately CAD 154.5 million ($114.6 million based on the exchange rate in effect on May 16, 2023) of the purchase price after giving effect to the purchase of the Century Downs land, selling expenses, Canadian and US taxes and proceeds to be paid to the minority owners of Century Downs. Simultaneous with the closing of the transaction, the Century Canadian Portfolio will be added to the Master Lease and initial annualized rent will increase by approximately CAD 17.3 million ($13.1 million based on the exchange rate on June 30, 2023).The transaction is subject to customary regulatory approvals and closing conditions and is expected to close in the third quarter of 2023.

* Amounts presented are rounded. As such, rounding differences could occur in period over period changes and percentages reported.

** Adjusted EBITDA and Adjusted EBITDA margin are Non-US GAAP financial measures. See discussion and reconciliation of Non-US GAAP financial measures in Supplemental Information below.

*** The Company defines book value per share as total Century Casinos, Inc. shareholders’ equity divided by outstanding common shares.

NUGGET CASINO RESORT ACQUISITION

On April 3, 2023, the Company completed its previously announced acquisition of 100% of the membership interests in Nugget Sparks, LLC (“Nugget”) for $104.7 million (subject to certain adjustments) (the “OpCo Acquisition”). On April 1, 2022, the Company purchased 50% of the membership interests in Smooth Bourbon, LLC (“Smooth Bourbon”) for approximately $95.0 million (the “Smooth Bourbon Acquisition” and together with the OpCo Acquisition, the “Nugget Acquisition”).  Nugget owns and operates the Nugget Casino Resort in Sparks, Nevada, and Smooth Bourbon owns the real property on which the casino is located and leases the real property to Nugget for an annual rent of $15.0 million. The Company funded the acquisition with $100.0 million from an escrow account that was established under its Goldman Credit Agreement and cash on hand.

RESULTS

The consolidated results for the three and six months ended June 30, 2023 and 2022 are as follows:

	For the three months						For the six months
Amounts in thousands, except per share data	ended June 30,					%	ended June 30,					%
Consolidated Results:			2023		2022	Change			2023		2022	Change
Net Operating Revenue		$	136,761	$	111,122	23%		$	245,268	$	214,224	15%
Earnings from Operations			18,629		20,802	(10%)			37,028		33,846	9%
Net (Loss) Earnings Attributable to Century Casinos, Inc. Shareholders		$	(1,959)	$	8,856	(122%)		$	(3,202)	$	9,074	(135%)
Adjusted EBITDA**		$	29,288	$	29,778	(2%)		$	55,340	$	53,601	3%
(Loss) Earnings Per Share Attributable to Century Casinos, Inc. Shareholders:
Basic		$	(0.06)	$	0.30	(120%)		$	(0.11)	$	0.30	(137%)
Diluted		$	(0.06)	$	0.28	(121%)		$	(0.11)	$	0.29	(138%)

“We are pleased with the results of this quarter, generating record revenue due to the addition of the Nugget Casino Resort, partially offset by construction disruption at our Missouri properties. We believe the outlook for the Nugget is positive with record group bookings at the hotelfor the second half of this year and continuing into 2024,”Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos remarked.“We are in a transitional stage taking over two properties in gaming jurisdictions new to us, and we incurred additional expenses related to the acquisitions while facing inflationary cost pressures from payroll wages and benefits, insurance and utilities. We look forward to continuing growth from the Nugget and contribution to our results from Rocky Gap, our newest acquisition in Maryland,”Messrs. Haitzmann and Hoetzinger concluded.

* Amounts presented are rounded. As such, rounding differences could occur in period over period changes and percentages reported.

** Adjusted EBITDA and Adjusted EBITDA margin are Non-US GAAP financial measures. See discussion and reconciliation of Non-US GAAP financial measures in Supplemental Information below.

2/10

Reportable Segment  Results*

The table below shows the Company’s reporting units and operating segments that are included in each of the Company’s reportable segments as of June 30, 2023:

Reportable Segment	Operating Segment	Reporting Unit
United States	East	Mountaineer Casino, Resort & Races
	Midwest	Century Casino & Hotel - Central City
		Century Casino & Hotel - Cripple Creek
		Century Casino Cape Girardeau
		Century Casino Caruthersville and The Farmstead
	West	Nugget Casino Resortand Smooth Bourbon, LLC
Canada	Canada (1)	Century Casino & Hotel - Edmonton
		Century Casino St. Albert
		Century Mile Racetrack and Casino
		Century Downs Racetrack and Casino ("CDR")
Poland	Poland	Casinos Poland
Corporate and Other	Corporate and Other	Cruise Ships & Other (2)
		Corporate Other (3)

(1) The Company operated the Century Sports facility through February 10, 2022.

(2) The Company operated on ship-based casinos through April 16, 2023.

(3) The Company’s equity interest in Smooth Bourbon was included in the Corporate Other reporting unit until April 3, 2023, when the Nugget acquisition closed and the Company began consolidating Smooth Bourbon.

The Company’s net operating revenue increased by $25.6 million, or 23%, and by $31.0 million, or 15%,for the three and six months ended June 30, 2023,  compared to the three and six months ended June 30, 2022.  Following is a summary of the changes in netoperating revenue by reportable segmentfor the three and six months ended June 30, 2023,  compared to the three and six months ended June 30, 2022:

	Net Operating Revenue
	For the three months							For the six months
Amounts in	ended June 30,					$	%	ended June 30,					$	%
thousands	2023		2022			Change	Change	2023		2022			Change	Change
United States	$	94,408	$	70,313	$	24,095	34%	$	160,772	$	135,556	$	25,216	19%
Canada		18,834		19,037		(203)	(1%)		35,342		35,039		303	1%
Poland		23,515		21,707		1,808	8%		49,093		43,531		5,562	13%
Corporate and Other		4		65		(61)	(94%)		61		98		(37)	(38%)
Consolidated	$	136,761	$	111,122	$	25,639	23%	$	245,268	$	214,224	$	31,044	15%

* Amounts presented are rounded. As such, rounding differences could occur in period over period changes and percentages reported.

** Adjusted EBITDA and Adjusted EBITDA margin are Non-US GAAP financial measures. See discussion and reconciliation of Non-US GAAP financial measures in Supplemental Information below.

3/10

The Company’searnings from operations decreased by ($2.2) million, or (10%), and increased by $3.2 million, or 9%,for the three and six months ended June 30, 2023,  compared to the three and six months ended June 30, 2022.  Following is a summary of the changes in earnings (loss) from operations by reportable segment for the three and six months ended June 30, 2023,  compared to the three and six months ended June 30, 2022:  

	Earnings (Loss) from Operations
	For the three months							For the six months
Amounts in	ended June 30,					$	%	ended June 30,					$	%
thousands	2023		2022			Change	Change	2023		2022			Change	Change
United States	$	17,531	$	17,624	$	(93)	(1%)	$	31,801	$	33,147	$	(1,346)	(4%)
Canada		4,645		4,334		311	7%		8,652		4,933		3,719	75%
Poland		1,224		2,047		(823)	(40%)		3,867		4,008		(141)	(4%)
Corporate and Other		(4,771)		(3,203)		(1,568)	(49%)		(7,292)		(8,242)		950	12%
Consolidated	$	18,629	$	20,802	$	(2,173)	(10%)	$	37,028	$	33,846	$	3,182	9%

Net earnings attributable to Century Casinos, Inc. shareholders decreased by ($10.8) million, or (122%), and by ($12.3) million, or (135%),for the three and six months ended June 30, 2023,  compared tothe three and six months ended June 30, 2022.  Following is a summary of the changes in net (loss) earningsattributable to Century Casinos, Inc. shareholders by reportable segmentfor the three and six months ended June 30, 2023,  compared to the three and six months ended June 30, 2022:  

	Net (Loss) Earnings Attributable to Century Casinos, Inc. Shareholders
	For the three months							For the six months
Amounts in	ended June 30,					$	%	ended June 30,					$	%
thousands	2023		2022			Change	Change	2023		2022			Change	Change
United States	$	7,252	$	10,521	$	(3,269)	(31%)	$	12,627	$	19,038	$	(6,411)	(34%)
Canada		2,729		2,875		(146)	(5%)		4,602		2,170		2,432	112%
Poland		704		1,322		(618)	(47%)		2,277		2,255		22	1%
Corporate and Other		(12,644)		(5,862)		(6,782)	(116%)		(22,708)		(14,389)		(8,319)	(58%)
Consolidated	$	(1,959)	$	8,856	$	(10,815)	(122%)	$	(3,202)	$	9,074	$	(12,276)	(135%)

Items deducted from or added to earnings from operations to arrive at net (loss) earningsattributable to Century Casinos, Inc. shareholdersinclude interest income, interest expense, gains (losses) on foreign currency transactions and other, income tax (benefit) expenseand non-controlling interests. Net earnings attributable to Century Casinos, Inc. shareholders decreased for the six months ended June 30, 2023 compared to the six months ended June 30, 2022 primarily due to the release of a $10.2 million US valuation allowance against deferred tax assets during the second quarter of 2022, resulting in an income tax benefit.

* Amounts presented are rounded. As such, rounding differences could occur in period over period changes and percentages reported.

** Adjusted EBITDA and Adjusted EBITDA margin are Non-US GAAP financial measures. See discussion and reconciliation of Non-US GAAP financial measures in Supplemental Information below.

4/10

Adjusted EBITDA** decreased by ($0.5) million, or (2%), and increased by $1.7 million, or 3%,for the three and six months ended June 30, 2023 compared to the three and six months ended June 30, 2022.  Following is a summary of the changes in Adjusted EBITDA** by reportable segment for thethree and six months ended June 30, 2023 compared to the three and six months ended June 30, 2022:

	Adjusted EBITDA**
	For the three months							For the six months
Amounts in	ended June 30,					$	%	ended June 30,					$	%
thousands	2023		2022			Change	Change	2023		2022			Change	Change
United States	$	25,824	$	22,382	$	3,442	15%	$	45,595	$	42,692	$	2,903	7%
Canada		5,114		5,568		(454)	(8%)		9,676		9,562		114	1%
Poland		1,885		2,724		(839)	(31%)		5,163		5,368		(205)	(4%)
Corporate and Other		(3,535)		(896)		(2,639)	(295%)		(5,094)		(4,021)		(1,073)	(27%)
Consolidated	$	29,288	$	29,778	$	(490)	(2%)	$	55,340	$	53,601	$	1,739	3%

Balance Sheet and Liquidity

As of June 30, 2023, the Company had $108.6 million in cash and cash equivalents compared to $101.8 million in cash and cash equivalents at December 31, 2022.  As of June 30, 2023, the Company had $364.1 million in outstanding debt compared to $366.4 million in outstanding debt at December 31, 2022.  The outstanding debt as ofJune 30, 2023included$345.6 million related to the term loan under the Goldman Credit Agreement,  $3.8 million of bank debt related to Century Resorts Management GmbH (“CRM”), and$14.7 million related to a long-term land leasefor CDR.The Company also has a $285.6 million long-term financing obligation under itsMaster Leasefor its West Virginia and Missouri properties. Subsequent to the 2023 second quarter end, the Company funded the Rocky Gap Acquisition with $30.0 million borrowed from its revolving facility under the Goldman Credit Agreement and cash on hand.

Conference Call Information

Today the Company will post a copy of its quarterly report on Form 10-Q filed with the SEC for the quarter ended June 30, 2023 on its website at www.cnty.com/investor/financials/sec-filings/. The Company will also post a presentation of the second quarter 2023 results on its website at

www.cnty.com/investor/presentations/.

The Company will host its second quarter 2023 earnings conference call today, Tuesday,  August 8, 2023at 9:00 am EDT / 7:00 am MDT. U.S. domestic participants  should dial 800-267-6316. For all international participants, please use 203-518-9843 to dial-in. The conference ID is ‘Casinos’. Participants may listen to the call live athttp://www.eventcastpro.com/webcasts/cc/events/z6vM6e.cfmor obtain a recording of the call on the Company’s website until August 31, 2023 at www.cnty.com/investor/financials/sec-filings/.

* Amounts presented are rounded. As such, rounding differences could occur in period over period changes and percentages reported.

** Adjusted EBITDA and Adjusted EBITDA margin are Non-US GAAP financial measures. See discussion and reconciliation of Non-US GAAP financial measures in Supplemental Information below.

5/10

CENTURY CASINOS, INC. AND SUBSIDIARIES –

UNAUDITED FINANCIAL INFORMATION – US GAAP BASIS

Condensed Consolidated Statements of (Loss) Earnings

	For the three months					For the six months
	ended June 30,					ended June 30,
Amounts in thousands, except for per share information		2023		2022			2023		2022
Operating revenue:
Net operating revenue		$	136,761	$	111,122		$	245,268	$	214,224
Operating costs and expenses:
Total operating costs and expenses			118,162		91,383			209,361		181,441
Earnings from equity investment			30		1,063			1,121		1,063
Earnings from operations			18,629		20,802			37,028		33,846
Non-operating (expense) income, net			(18,170)		(21,372)			(31,915)		(30,272)
Earnings (loss) before income taxes			459		(570)			5,113		3,574
Income tax (expense) benefit			(96)		10,421			(1,719)		8,986
Net earnings			363		9,851			3,394		12,560
Net earnings attributable to non-controlling interests			(2,322)		(995)			(6,596)		(3,486)
Net (loss) earnings attributable to Century Casinos, Inc. shareholders		$	(1,959)	$	8,856		$	(3,202)	$	9,074
(Loss) earnings per share attributable to Century Casinos, Inc. shareholders:
Basic		$	(0.06)	$	0.30		$	(0.11)	$	0.30
Diluted		$	(0.06)	$	0.28		$	(0.11)	$	0.29
Weighted average common shares
Basic			30,335		29,843			30,196		29,752
Diluted			30,335		31,506			30,196		31,489

Condensed Consolidated Balance Sheets
	June 30,		December 31,
Amounts in thousands	2023		2022
Assets
Current assets	$	139,995	$	228,019
Property and equipment, net		694,107		464,650
Other assets		165,134		192,298
Total assets	$	999,236	$	884,967
Liabilities and Equity
Current liabilities	$	89,632	$	65,413
Non-current liabilities		663,011		665,355
Century Casinos, Inc. shareholders' equity		144,809		144,028
Non-controlling interests		101,784		10,171
Total liabilities and equity	$	999,236	$	884,967

6/10

CENTURY CASINOS, INC. AND SUBSIDIARIES

UNAUDITED SUPPLEMENTAL INFORMATION

Reconciliation of Adjusted EBITDA* to Net Earnings (Loss) Attributable to Century Casinos, Inc. Shareholders by Reportable Segment.  

	For the three months ended June 30, 2023
Amounts in thousands			United States		Canada		Poland		Corporate and Other		Total
Net earnings (loss) attributable to Century Casinos, Inc. shareholders		$	7,252	$	2,729	$	704	$	(12,644)	$	(1,959)
Interest expense (income), net (1)			7,299		547		(117)		10,501		18,230
Income taxes (benefit)			1,188		1,145		388		(2,625)		96
Depreciation and amortization			8,326		1,146		661		57		10,190
Net earnings attributable to non-controlling interests			1,792		177		353		—		2,322
Non-cash stock-based compensation			—		—		—		928		928
Gain on foreign currency transactions, cost recovery income and other (2)			—		(630)		(104)		(3)		(737)
Gain on disposition of fixed assets			(33)		—		—		—		(33)
Acquisition costs			—		—		—		251		251
Adjusted EBITDA		$	25,824	$	5,114	$	1,885	$	(3,535)	$	29,288

(1) Included in interest expense (income), net is interest expense of $7.3 million related to the Master Lease in the United States segment and interestexpense of $0.5 million related to the CDR land lease in the Canada segment. Cash payments related to the Master Lease and CDR land lease were $6.9 million and $0.5 million, respectively, for the period presented.

(2) Includes $0.7 million related to the quarterly earn out payment from the sale of casino operations in Calgary in 2020.

	For the three months ended June 30, 2022
Amounts in thousands			United States		Canada		Poland		Corporate and Other		Total
Net earnings (loss) attributable to Century Casinos, Inc. shareholders		$	10,521	$	2,875	$	1,322	$	(5,862)	$	8,856
Interest expense (income), net (1)			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 and cost recovery income (2)			—		(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) Included in interest expense (income), net is interest expense of$7.1 million related to the Master Lease is in the United States segment, interest expense of $0.6 million related to the CDR land lease in the Canada segment and interest expense of $7.3 million related to the write-off of deferred financing costs in connection with the prepayment of the Macquarie term loan in the Corporate and Other segment. Cash payments related to the Master Lease and CDR land lease were  $6.4million and $0.7 million, respectively, for the period presented.

7/10

CENTURY CASINOS, INC. AND SUBSIDIARIES

UNAUDITED SUPPLEMENTAL INFORMATION

Reconciliation of Adjusted EBITDA* to Net Earnings (Loss) Attributable to Century Casinos, Inc. Shareholders by Reportable Segment

	For the six months ended June 30, 2023
Amounts in thousands			United States		Canada		Poland		Corporate and Other		Total
Net earnings (loss) attributable to Century Casinos, Inc. shareholders		$	12,627	$	4,602	$	2,277	$	(22,708)	$	(3,202)
Interest expense (income), net (1)			14,418		1,070		(211)		20,455		35,732
Income taxes (benefit)			2,964		2,779		1,020		(5,044)		1,719
Depreciation and amortization			13,357		2,272		1,295		120		17,044
Net earnings attributable to non-controlling interests			1,792		3,665		1,139		—		6,596
Non-cash stock-based compensation			—		—		—		1,664		1,664
(Gain) loss on foreign currency transactions, cost recovery income and other (2)			—		(4,715)		(358)		5		(5,068)
Loss on disposition of fixed assets			437		3		1		5		446
Acquisition costs			—		—		—		409		409
Adjusted EBITDA		$	45,595	$	9,676	$	5,163	$	(5,094)	$	55,340

(1) Included in interest expense (income), net is interest expense of$14.4 million related to the Master Lease in the United States segment and interestexpense of $1.1 million related to the CDR land lease in the Canada segment. Cash payments related to the Master Lease and CDR land lease were $13.7 million and $1.0 million, respectively, for the period presented.

(2) Includes $1.2 million related to the earn out payment from the sale of casino operations in Calgary in 2020 and cost recovery income for CDR.

	For the six months ended June 30, 2022
Amounts in thousands			United States		Canada		Poland		Corporate and Other		Total
Net earnings (loss) attributable to Century Casinos, Inc. shareholders		$	19,038	$	2,170	$	2,255	$	(14,389)	$	9,074
Interest expense (income), net (1)			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 (2)			—		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) Included in interest expense (income), net is interest expense of$14.1 million related to the Master Lease in the United States segment, interestexpense of $1.1 million related to the CDR land lease in the Canada segment, and interest expense of $7.3 million related to the write-off of deferred financing costs in connection with the prepayment of the Macquarie term loan in the Corporate and Other 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.

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(2) Loss of $2.2 million related to the sale of the land and building in Calgary in February 2022 is included in the Canada segment.

CENTURY CASINOS, INC. AND SUBSIDIARIES

UNAUDITED SUPPLEMENTAL INFORMATION

Adjusted EBITDA Margins**

	For the three months		For the six months
	ended June 30,		ended June 30,
	2023	2022	2023	2022
United States	27%	32%	28%	31%
Canada	27%	29%	27%	28%
Poland	8%	13%	11%	12%
Corporate and Other	NM (1)	NM	NM	NM
Consolidated	21%	27%	23%	25%

(1) Not meaningful.

*The Company defines Adjusted EBITDA as net earnings (loss) attributable to Century Casinos, Inc. shareholders before interest expense (income), net, income taxes (benefit), depreciation and amortization, non-controlling interests net earnings (loss) and transactions, pre-opening expenses, acquisition costs, non-cash stock-based compensation charges, asset impairment costs, loss (gain) on disposition of fixed assets, discontinued operations, (gain) loss on foreign currency transactions, cost recovery income and other, gain on business combination and certain other one-time transactions. Expense related to the Master Lease and CDR land lease is included in the interest expense (income), net line item. 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) attributable to Century Casinos, Inc. shareholders and Adjusted EBITDA reported for each segment.Non-cash stock-based compensation expense is presented under Corporate and Other as the expense is not allocated to reportable segments when reviewed by the Company’s chief operating decision makers. Not all of the aforementioned items occur in each reporting period, but have been included in the definition based on historical activity. These adjustments have no effect on the consolidated results as reported under US GAAP. Adjusted EBITDA is not considered a measure of performance recognized under US GAAP. Management believes that Adjusted EBITDA is a valuable measure of the relative performance of the Company and its properties. The gaming industry commonly uses Adjusted EBITDA as a method of arriving at the economic value of a casino operation. Management believes that using Adjusted EBITDA is a useful way to compare the relative operating performance of separate operating units by eliminating the above-mentioned items associated with the varying levels of capital expenditures for infrastructure required to generate revenue and the often high cost of acquiring existing operations. Adjusted EBITDA alsois used by the Company’s lending institution to gauge operating performance. The Company’s computation of Adjusted EBITDA may be different from, and therefore may not be comparable to, similar measures used by other companies within the gaming industry. Please see the reconciliation of Adjusted EBITDA to net (loss) earnings attributable to Century Casinos, Inc. shareholders above.

** The Company defines Adjusted EBITDA margin as Adjusted EBITDA divided by net operating revenue. Adjusted EBITDA margin is a non-US GAAP measure. Management uses this margin as one of several measures to evaluate the efficiency of the Company’s casino operations.

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CENTURY CASINOS, INC. AND SUBSIDIARIES

UNAUDITED SUPPLEMENTAL INFORMATION

About Century Casinos, Inc.:

Century Casinos, Inc. is a casino entertainment company. The Company owns and operates Century Casino & Hotels in Cripple Creek and Central City, Colorado, and in Edmonton, Alberta, Canada; the Century Casino in Cape Girardeau and Caruthersville, Missouri, and in St. Albert, Alberta, Canada; Mountaineer Casino, Resort & Races in New Cumberland, West Virginia; Rocky Gap in Flintstone, Maryland and the Century Mile Racetrack and Casino in Edmonton, Alberta, Canada. Through its Austrian subsidiary, CRM, the Company holds a 66.6% ownership interest in Casinos Poland Ltd., the owner and operator of eight casinos throughout Poland; and a 75% ownership interest in CDR in Calgary, Alberta, Canada. Through its United States subsidiary, Century Nevada Acquisition, Inc., the Company owns Nugget and a 50% membership interest in Smooth Bourbon, which owns the land and buildingofNugget in Sparks, Nevada.The Company continues to pursue other projects in various stages of development.

Century Casinos’ common stock trades on The Nasdaq Capital Market® under the symbol CNTY.For more information about Century Casinos, visit our website at www.cnty.com.  

FORWARD-LOOKING STATEMENTS, BUSINESS ENVIRONMENT & RISK FACTORS

This release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and assumptions of the management of Century Casinos based on information currently available to management. Such forward-looking statements include, but are not limited to, statements regarding completed and pending acquisitions, projects in development and other opportunities, including the expected benefits of our Nugget and Rocky Gap acquisitions,  closing of the Canada Real Estate Sale and completion of our Missouri construction projects, the GoldmanCredit Agreement and obligations under our Master Lease and our ability to repay our debt and other obligations, outcomes of legal proceedings, changes in our tax provisions or exposure to additional income tax liabilities, and plans for our casinos and our Company. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from the forward-looking statements include, among others, the risks described in the section entitled “Risk Factors” under Item 1A in our Annual Report on Form 10-K for the year ended December 31,2022, in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2023,and in subsequent periodic and current SEC filings we may make. Century Casinos disclaims any obligation to revise or update any forward-looking statement that may be made from time to time by it or on its behalf.

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EX-99.2

Exhibit 99.2

CENTURY CASINOSINVESTOR PRESENTATIONPeter Hoetzinger, Co CEO & PresidentResults through Q2 2023

Forward-Looking Statements, Business Environment, Risk Factors & Notes on Presentation CENTURY CASINOSThis presentation may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the Private Securities Litigation Reform Act of 1995. In addition, Century Casinos, Inc. (together with its subsidiaries, the “Company”, “we”, “us”, “our”) may make other written and oral communications from time to time that contain such statements. Forward-looking statements include statements as to industry trends and future expectations of the Company and other matters that do not relate strictly to historical facts and are based on certain assumptions by management at the time such statements are made. Forward-looking statements in this presentation include statements regarding the hotel and casino projects in Missouri, future results of operations, including statements about operating margins, the impact of the coronavirus (COVID-19) pandemic, the adequacy of cash flows from operations and available cash to meet our future liquidity needs, operating efficiencies, synergies and operational performance, the prospects for and timing and costs of new projects, projects in development and other opportunities, the Goldman Credit Agreement (as defined herein) and obligations under our Master Lease (as defined herein) and the ability to repay debt and other obligations, investments in joint ventures, outcomes of legal proceedings, changes in our tax provisions or exposure to additional income tax liabilities, certain plans, expectations, goals, projections, and statements about the Nugget Acquisition (as defined herein) and Rocky Gap Acquisition (as defined herein); potential adverse reactions or changes to business or employee relationships, including those resulting from the completion of the Nugget Acquisition or Rocky Gap Acquisition; the possibility that the anticipated benefits of the Nugget Acquisition or Rocky Gap Acquisition are not realized when expected or at all and plans for our casinos and our Company. These statements are often identified by the use of words such as “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “could,” “estimate,” or “continue,” and similar expressions or variations. These statements are based on the beliefs and assumptions of the management of the Company based on information currently available to management. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from the forward-looking statements include, among others, the risks described in the section entitled “Risk Factors” under Item 1A in our Annual Report on Form 10-K for the year ended December 31, 2022 (the “2022 Annual Report”), in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2023, and our subsequent periodic and current reports filed with the SEC. We caution the reader to carefully consider such factors. Furthermore, such forward-looking statements speak only as of the date on which such statements are made. We undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements.TERMS AND DEFINITIONSCertain terms and definitions are used in this presentation. A list of these terms and definitions is contained in the Appendix. In addition, the names of the Company’s subsidiaries and certain operating segments, some of which have changed, are abbreviated on certain of the following slides. See Appendix for a list of the subsidiaries and their abbreviations.  1

Key Investment Highlights CENTURY CASINOSFounded in 1992, Century Casinos is a multi-channel gaming company with focus on drive-to U.S. marketsCasinos located in attractive markets with limited new competition riskRegional and local customer base. Majority of revenue comes from guests who live within a one-hour drive of our casinosCentury’s management team owns 14%1 of CNTY and has 100+ years experience having operated 100+ casinos in 20+ countriesSubstantial growth drivers and cash-flow drivers:Acquisition of Nugget Casino Resort in Reno, NVAcquisition of Rocky Gap Casino, Resort & Golf operations, MDCentury Casino Caruthersville, MO, moving to land-based casinoHotel development at Century Casino Cape Girardeau, MOSale and leaseback of Canada real estate assets to VICI (pending)1. Including unexercised stock options 2

Multi-Channel North American Gaming Company1 CENTURY CASINOSLand-based Casinos (USA and Canada) The online world and the land-based casino world co-exist successfully. Century Casino Central City Century Casino Cripple Creek Century Casino Edmonton Nugget CASINO RESORT Century Casino Cape Girardeau Century Casino Caruthersville Century Casino St Albert Rocky Gap Casino Resort GolfRacing and On/Off-Track Betting Give online customers a better experience and social excitement when they visit land-based casino properties. Century Downs Racetrack Casino Century Mile Racetrack Casino Mountaineer Casino Resort Racetrack HPI BETSportsbook (Retail & Online) and iGaming The different experiences are complementary and enhance each other. Bet365 RUSH STREET INTERACTIVE tipico CAESARS SPORTSBOOK BY William HILL Circa SPORTS1. As of July 25, 2023. 3

Century’s North American Property Footprint1 Diversified Local Gaming Footprint in Drive-to Markets CENTURY CASINOSCentury Casino St. Albert Century Casino & Hotel Edmonton Century Mile Racetrack and Casino Century Downs Racetrack and CasinoMountaineer Casino, Resort & Races Rocky Gap Casino, Resort & Golf Nugget Casino Resort Century Casino & Hotel Central City Century Casino & Hotel Cripple Creek CENTURY CASINOS Headquartered in Colorado Springs Century Casino Caruthersville Century Casino Cape Girardeau 1. As of July 25, 2023. 4

Diverse Regional Exposure in Stable, Mature Gaming Markets in the U.S. CENTURY CASINOSExposure to attractive regional markets proven to be resilient throughout the pandemic. - 2021 and 2022 GGR1 levels materially up versus 2019 across almost all markets served in the U.S. - Sustainable future growth underpinned by strong market fundamentals and structural regulatory changes.Colorado well-positioned for long-term growth. - Introduction of sports betting in May 2021. - Removal of $100 betting limits and approval of new casino games in May 2021. - Denver and Colorado Springs MSAs2 driven by attractive demographic trends that outpace U.S. averages.Missouri benefits from loyal local customer base. -Track record of stability with strong growth since 2021.Reno-Sparks well positioned for future growth. - Proximity to outdoor recreational attractions aligns well with post-pandemic trends. - Blue chip employers such as Tesla driving attractive socioeconomic trends.Maryland’s gaming market has grown steadily since 2012 when table games were legalized, with continued growth in 2021 due to legalization of sports betting.Gross gaming revenueMetropolitan statistical areaSources: UNLV Gaming Research, Nevada Gaming Control Board, Colorado Department of Revenue and internal Company research | Note: $ in millionsColorado GGR 2016 $811 2017 $828 2018 $842 2019 $834 2020 $560 2021 $976 2022 $1,060Missouri GGR 2016 $1,715 2017 $1,738 2018 $1,754 2019 $1,730 2020 $1,264 2021 $1,897 2022 $1,905West Virginia GGR 2016 $639 2017 $587 2018 $613 2019 $618 2020 $431 2021 $644 2022 $740Washoe County, Nevada GGR 2016 $810 2017 $829 2018 $866 2019 $857 2020 $676 2021 $1,016 2022 $1,040Maryland GGR 2016 $1,023 2017 $1,614 2018 $1,746 2019 $1,757 2020 $1,226 2021 $1,926 2022 $2,0535

Stable Historical Performance of Regional GGR in the U.S. CENTURY CASINOSUS regional GGR has maintained stable growth since 2001 and is resilient to macroeconomic changes including oil prices and CPIU.S. Regional GGR ($bn) 2001 $22 2002 $24 2003 $24 2004 $26 2005 $27 2006 $29 2007 $31 2008 $30 2009 $29 2010 $29 2011 $30 2012 $31 2013 $31 2014 $32 2015 $34 2016 $34 2017 $35 2018 $37 2019 $39 2020 $40 2021 $47 2022 $52WTI Crude Oil Price (US$ / Barrel) $150 $120 $90 $60 $30 $0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022CPI Index YoY % Change 10.0% 6.0% 2.0% (2.0)% 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022Sources: UNLV Gaming Research and Bloomberg research. Note: Regional GGR represents U.S. excluding Las Vegas GGR.6

Broad Geographic and Asset Diversification No Single Property Accounts for More than 25% of Adjusted EBITDA CENTURY CASINOS# of Properties 19 Properties # of Slot Machines 7,575 # of Table Games 78 # of Hotel Rooms 2,046 Acquisition of the Nugget and Rocky Gap (“Acquisitions”) is expected to significantly increase Century’s scale On a pro forma basis, represents a 41% increase in revenue in 2022 and 50% increase in Adj. EBITDA in 2022 Further diversifies earnings on geographic and property-level basis (8 markets across North America and Poland) By Property Cape Girardeau Caruthersville Mountaineer Nugget Rocky Gap Cripple Creek Central City Canada Poland Before Acquisitions 2022 Adj. EBITDA2: $111mm 11% 25% 16% 16% 8% 7% 17% Pro Forma1after Acquisitions 2022 Adj. EBITDA2: $163mm 7% 17% 11% 11% 16% 16% 5% 5% 12% Property information excludes Corporate and Other segment. Slot machines, table games and hotel room counts are as of June 30, 2023 and include Rocky Gap. 1. Pro Forma for the Rocky Gap Acquisition and the Nugget Acquisition. See Appendix for the definition of Pro Forma. 2. Graphs and percent of total exclude Corporate and Other Adjusted EBITDA. Canada and Poland are not presented by property. Note: Adjusted EBITDA is a non-GAAP financial measure. See Appendix for the definition and reconciliation of Adjusted EBITDA. 7

Summary of Pro Forma1 Historical Financial Performance (in Millions) CENTURY CASINOSKey Highlights Stable revenue growth across Century, the Nugget and Rocky Gap with strong recovery post-COVID Consistent Adjusted EBITDA growth combined with margin expansionRevenue 2018 $321 $67 $86 $169 2019 $377 $70 $89 $218 2020 $413 $52 $57 $304 2021 $567 $78 $100 $389 2022 $608 $78 $99 $431Adjusted EBITDA and Margin Margin 18.7% 18.0% 17.9% 27.9% 25.5% Significant disruption at Nugget Casino from ~$90m in capex spend 2016-2020 2018 $60 $19 $18 $23 2019 $68 $20 $17 $30 2020 $74 $15 $11 $48 2021 $158 $27 $33 $98 2022 $155 $25 $27 $103Adjusted EBITDA less Lease Payments22018 $24  $4  $10  $10 2019 $28 $5 $10 $13 2020 $13 $3 $10 -$1 2021 $96 $12 $25 $60 2022 $94 $10 $19 $65 Century Nugget Rocky Gap 1. Pro Forma Revenue and Adjusted EBITDA and Margin relates to the Rocky Gap Acquisition and Nugget Acquisition. Pro Forma Adjusted EBITDA less Lease Payments relates to the Rocky Gap Acquisition, Nugget Acquisition and Canada Real Estate Sale. See Appendix for the definition of Pro Forma. 2. Lease Payments consist of cash payments on the Company’s Master Lease and 50% of the Nugget’s lease with Smooth Bourbon. Note: Adjusted EBITDA, Adjusted EBITDA margin and Adjusted EBITDA less Lease Payments are non-GAAP financial measures. See Appendix for the definitions of these terms and reconciliation of Adjusted EBITDA. 8

Century Has a Proven Track Record of Consistent Adjusted EBITDA Stability and is Poised for Future Growth CENTURY CASINOSDecade plus of steady Adjusted EBITDA growth with attractive opportunities to accelerate growth with new acquisitions2012 - 2017 Increased Canadian footprint through developments and acquisitions Opened Century Downs Racetrack and Casino in 2015 Century Bets began operating the southern Alberta pari-mutuel network in 2015, in which the Company owned a 75% stake Acquired St. Albert Casino in 2016Expanded ownership in Polish operations in 2013 In 2013, the Company acquired an additional 33.3% ownership in Casinos Poland Limited2018 – Present Opened Century Mile in April 2019 Acquired 3 properties in Missouri and West Virginia in December 2019 Executed on tried and true operational strategy and managed through global pandemic Pro Forma 2012 $11 14.7% 2013 $13 12.1% 2014 $13 10.7% 2015 $23 17.5% 2016 $26 18.5% 2017 $26 16.9% 2018 $23 13.8% 2019 $30 13.9% 2020 $48 15.9% 2021 $98 25.2% 2022 $103 24.0% Pro Forma1 $155 25.5%1. Pro Forma for the Rocky Gap Acquisition and Nugget Acquisition. See Appendix for the definition of Pro Forma. Note: in millions Note: Adjusted EBITDA is a non-GAAP financial measure. See Appendix for the definitions and reconciliation of Adjusted EBITDA. 9

Income Statement Selected information in USD, in millions except for per share CENTURY CASINOSQ2 2023 Q2 2022 Change Net Operating Revenue 136.8  111.1  +23% Earnings from Operations 18.620.8-10% Net (Loss) Earnings Attributable to Century Casinos, Inc. Shareholders -2.08.9-122% Adjusted EBITDA129.3 29.8 -2% Basic (Loss) Earnings per Share -0.06 0.30 -120% Diluted (Loss) Earnings per Share -0.06 0.28 -121% 1. Adjusted EBITDA is a non-GAAP financial measure. See Appendix for the definition and reconciliation of Adjusted EBITDA. 10

Balance Sheet and Leverage As of June 30 / Pro Forma1, 2023 CENTURY CASINOS 1. 5.0x Total Principal Debt to Adjusted EBITDA less Lease Payments23.5x Net Debt to Adjusted EBITDA less Lease Payments3 4.9x Lease Adjusted Net Leverage (8.0x)45.3x Pro Forma1 Total Principal Debt to Adjusted EBITDA less Lease Payments 2.6 Pro Forma1 Net Debt to Adjusted EBITDA less Lease Payments5.0x Pro Forma1Lease Adjusted Net Leverage (8.0x)(in millions) As 06/30/2023 Pro Forma1 Cash $108.6 $195.0 Total Principal Debt2  $364.1 $379.4 Net Debt $255.5 $184.4 Lease Debt5  $261.0 $474.0Pro Forma ratios are calculated as if the Rocky Gap Acquisition and Canada Real Estate Sale (as defined in the Appendix) occurred on July 1, 2022. See Appendix for the reconciliation of Pro Forma Total Principal Debt to Adjusted EBITDA less Lease Payments, Pro Forma Net Debt to Adjusted EBITDA less Lease Payments and Pro Forma Lease Adjusted Net Leverage. 2. Total Principal Debt to Adjusted EBITDA less Lease Payments is calculated by dividing the Company’s Adjusted EBITDA less Lease Payments for the trailing twelve months ended June 30, 2023 by Total Principal Debt. Adjusted EBITDA is a non-GAAP financial measure. See Appendix for the definition of Total Principal Debt, Adjusted EBITDA less Lease Payments, Lease Payments and the definition and reconciliation of Adjusted EBITDA. 3. Net Debt to Adjusted EBITDA less Lease Payments is calculated by dividing the Company’s Adjusted EBITDA less Lease Payments for the trailing twelve months ended June 30, 2023 by Net Debt. Net Debt, Adjusted EBITDA and Adjusted EBITDA less Lease Payments are non-GAAP financial measures. See Appendix for the definition and reconciliation of Net Debt, Adjusted EBITDA and Adjusted EBITDA less Lease Payments and the definition of Lease Payments. 4. Lease Adjusted Net Leverage is calculated by dividing the Company’s Adjusted EBITDA for the trailing twelve months ended June 30, 2023 by the Company’s Net Debt and Lease Debt capitalized at 8.0x. Adjusted EBITDA, Net Debt and Lease Adjusted Net Leverage are non-GAAP financial measures. See Appendix for the definition of Lease Debt, Net Debt and Lease Adjusted Net Leverage and reconciliation of Adjusted EBITDA and Net Debt 5. Lease Debt is calculated as Lease Payments capitalized at 8.0x. Lease Debt is a non-GAAP financial measure. See Appendix for the definition and reconciliation of Lease Debt and Lease Payments. 11

Environmental, Social and Governance (“ESG”)CENTURY CASINOSCentury’s Commitment Environmental Century is committed to environmental responsibility in the communities in which we operate. Social Responsibility Century is involved with local projects and charities in the communities in which we operate. Century is committed to diversity across all levels. Century promotes responsible gaming at all our properties. Corporate Governance Century created an ESG Steering Committee to oversee and provide executive sponsorship for our corporate ESG strategy, goals and initiatives. Century is creating “Century CARES” teams at each property to focus on community involvement and environmental practices. Century “CARES” – Committed, Action-oriented, Responsible, Eco-friendly, Sustainable 12

CNTY Consolidated Results 2019 – 2023 Quarterly Results (in USD, in millions) CENTURY CASINOSNet Operating Revenue 140 120 100 80 60 40 20 0 Q1 45.6 87.7 72.4 103.1 108.5 Q2 52.4 36.1 92.2 111.1 136.8 Q3 52.9 95.7 116.6 112.6 Q4 67.2 84.8 107.3 103.8 2019 2020 2021 2022 2023 Adjusted EBITDA (1) 35.0 30.0 25.0 15.0 10.0 5.0 0.0 (5.0) Q1 6.7 9.6 14.7 23.8 26.1 Q2 6.7 (1.8) 25.2 29.8 29.3 Q3 7.1 22.2 33.1 28.1 Q4 9.8 18.3 24.9 21.7 2019 2020 2021 2022 2023 1. Adjusted EBITDA is a non-GAAP financial measure. See Appendix for the definition and reconciliation of Adjusted EBITDA. 13

Net Operating Revenue Q2 2023 by Reportable Segment and Operating Segment (1) (in USD) CENTURY CASINOSCanada 14% Poland 17% United States 69%  Canada14%  Midwest29%  East  21%  West19% Poland 17% 1. Excludes the Corporate and Other Reportable Segment14

Adjusted EBITDA (1)  Q2 2023 by Reportable Segment and Operating Segment (2) (in USD) CENTURY CASINOSCanada 13% Poland 6% United States 78% Canada 16% Midwest 46% East 12% West 20% Poland 6% 1. Adjusted EBITDA is a non-GAAP financial measure. See Appendix for the definition and reconciliation of Adjusted EBITDA. 2. Excludes the Corporate and Other Reportable Segment 15

U.S. OPERATIONS OVERVIEW East Midwest West 16

East Region Market Overview and Asset Summary West Virginia CENTURY CASINOSAsset Property Highlights Mountaineer Casino is the area’s only full-service resort and casino featuring world-class thoroughbred racing, an 18-hole golf course and 5,000-seat convention center Located on the beautiful Ohio River in the northern panhandle of West Virginia Located on Route 2, near Chester WV, and is an easy drive from many locations in Ohio, Pennsylvania, and West Virginia Sports betting and i-Gaming available through William Hill / Caesars and Rush Street Interactive Key Stats1 Casino Sq. Footage 72,380 Slot Machines 1,052 Tables 26 Hotel Rooms 357 Competitive Landscape Market Demographics and Stability Mountaineer serves the Pittsburgh and eastern Ohio drive-to markets, providing multiple revenue streams including gaming, sports betting, lodging, entertainment, food and beverage. West Virginia was an early adopter of internet gaming (fifth state in the U.S.), which has drawn customers from neighboring states. There are a maximum of 5 gaming licenses available in the state with no additional licenses allowed.2  The gaming market in West Virginia has expanded substantially, with 53% GGR growth from 2019 to 2022.Sources: U.S. BLS, UNLV Gaming Research, American Gaming Association “State of the States 2021” | 1. As of June 30, 2023. 2. Assumes no additional racetracks open in the state. 17

East Region Results West Virginia CENTURY CASINOSNet Operating Revenue 35.0 30.0 25.0 20.0 15.0 10.0 5.0 0.0 Q1 23.9 26.3 26.7 Q2 30.6 29.7 28.2 Q3 31.7 30.4 Q4 28.7 26.5 2021 2022 2023 Adjusted EBITDA1 7.0 6.0 5.0 4.0 3.0 2.0 1.0 0.0 Q1 3.6 4.3 3.9 Q2 6.2 4.9 3.9 Q3 5.9 5.3 Q4 4.5 3.5 2021 2022 2023 1. Adjusted EBITDA is a non-GAAP financial measure. See Appendix for the definition and reconciliation of Adjusted EBITDA. 18

Midwest Region Market Overview and Asset Summary Colorado CENTURY CASINOSAsset Property Highlights Central City is located just 45 minutes west of Denver, Colorado Easily accessible from highway I-70 Online sports betting through Tipico Sportsbook partnership Cripple Creek is located ~45 miles from Colorado Springs State-of-the art slot machines, exciting table games Online sports betting through Circa Sports and Bet365 partnerships Key Stats1 Casino Sq. Footage 22,640 Slot Machines 411 Tables 8 Hotel Rooms 26 Casino Sq. Footage 19,610 Slot Machines 374 Tables 6 Hotel Rooms 21 Competitive Landscape Market Demographics and Stability Central City and Cripple Creek serve the Denver and Colorado Springs MSAs, respectively, both of which are exhibiting strong geographic and economic trends. Visitorship to both markets includes locals and tourists. Historically strong GGR trends with strong upside due to recent regulatory actions to remove betting limits and legalize online sports betting. The state benefits from positive demographic trends, with 50bps higher population growth from April 2020 to July 2022 than national average and median household income of $80,184 vs. a US average of $69,021 from 2017-2021 in 2021 dollars. Source: U.S. Census Bureau | 1. As of June 30, 2023. 19

Midwest Region Market Overview and Asset Summary Missouri CENTURY CASINOSAsset Property Highlights Casino is situated in downtown Cape Girardeau The property opened in October 2012 with the 13th and final gaming license in Missouri Property includes an entertainment center, and a ~7,700 square ft. event center with seating for up to 600 Construction commenced on 69 room hotel adjacent to and connected with casino Caruthersville temporarily operating out of the land-based pavilion RV Park open year-round and located by the water Construction commenced on land-based casino and hotel Adjacent stand-alone hotel opened late October 2022 Key Stats1 Casino Sq. Footage 41,530 Slot Machines 833 Tables 23 Hotel Rooms N/A Casino Sq. Footage 12,000 Slot Machines 416 Tables 6 Hotel Rooms 36 Competitive Landscape Market Demographics and Stability Cape Girardeau and Caruthersville are local, drive-to markets with loyal customer bases. Missouri is one of the largest regional gaming markets with ~$1.9 billion of gaming revenue in 2022, having grown >10% since 2019. Missouri has strong macroeconomic drivers, including employment growth and a diverse economy. Source: UNLV Gaming Research, American Gaming Association “State of the States 2021” | 1. As of June 30, 2023. 20

Midwest Region Results Colorado and Missouri CENTURY CASINOSNet Operating Revenue 50.0 45.0 40.0 35.0 30.0 25.0 20.0 15.0 10.0 5.0 0.0 Q1 40.4 39.0 39.7 Q2 46.2 40.6 39.2 Q3 42.2 40.3 Q4 39.6 35.8 2021 2022 2023 Adjusted EBITDA125.0 20.0 15.0 10.0 5.0 0.0 Q1 18.5 16.1 15.9 Q2 22.0 17.4 15.4 Q3 18.4 15.9 Q4 16.7 12.8 2021 2022 2023 1. Adjusted EBITDA is a non-GAAP financial measure. See Appendix for the definition and reconciliation of Adjusted EBITDA. 21

West Region Market Overview and Asset Summary Nevada CENTURY CASINOSAsset Property Highlights The newly remodeled Nugget Casino is conveniently located on route I-80 with easy access from the airport The full-service resort boasts a large gaming floor, two hotel towers, a convention space, outdoor amphitheater, and a wide variety of casual and fine dining options in addition to several on-site bars and lounges Reno/Sparks is a top 15 gaming market in the U.S. Nugget has one of the largest conference centers in Reno in addition to a state-of-the-art 8,555-seat outdoor venue Key Stats1 Casino Sq. Footage 71,200 Slot Machines 919 Tables 29 Hotel Rooms 1,382 Competitive Landscape Market Demographics and Stability Reno, known as the “Biggest Little City in the World” is famous for its casinos, but is also known as a destination for outdoor recreation with proximity to Lake Tahoe and several ski resorts. Current home to Tesla, Gigafactory, Apple, Switch Data Center and Walmart Distribution. Population approaching 500,000 (15% growth from 2010 to 2020 vs. national average of 7%, with an additional 2%+ growth since 2020). The Reno-Tahoe airport is expanding the ticket hall, shopping and ground transportation center and adding new concourses ($1bn “MoreRNO” project). Source: Reno.gov, U.S. Bureau of Labor Statistics, Washoe County Consensus Forecast 2022-2042, Industry Research | 1. As of June 30, 2023. 22

ROCKY GAP CASINO RESORT GOLF FLINTSTONE, MARYLAND ACQUIRED JULY 25, 2023

Transaction Overview CENTURY CASINOSOn July 25, 2023, Century acquired the operations of Rocky Gap Casino, Resort & Golf for $61.2mm. Represents a purchase price multiple of 6.2x 2022 Adj. EBITDA (pro forma1 after lease payments to VICI).Simultaneously, VICI acquired a related interest in the land and building associated with Rocky Gap for $203.9mm.VICI and Century amended the Master Lease to include an increase in initial annualized rent of $15.5mm.Century paid for the acquisition with $30.0mm from the Revolving Facility from its Goldman Credit Agreement and cash on balance sheet.In 2022, Rocky Gap generated revenue of $78.0mm and Adj. EBITDA of $25.4mm.We see upside to these numbers, mainly for these reasons:Opportunity to replace lower-performing slots with new units to yield immediate upside in overall win per unit per day.Recently installed hotel management system will optimize room rate and occupancy.Additional hotel rooms to capitalize on weekend demand. 1. Pro Forma for the Rocky Gap Acquisition. See Appendix for the definition of Pro Forma. Note: Adjusted EBITDA is a non-GAAP financial measure. See Appendix for the definition and reconciliation of Adjusted EBITDA. 24

Rocky Gap Casino, Resort& Golf CENTURY CASINOSOnly casino resort in western Maryland, with 10 million + adults within a 100-mile radius198 hotel rooms630 slot machines16 table games$10mm of property upgrades since 2018remodeled rooms and suitesnew sports loungerenovation and upgrade of food and beverage offeringsgolf course improvementsMaryland’s only Jack Nicklaus Signature golf courseEvents center and meeting facilities for approx. 500 peopleSpa, pool and outdoor activities1998 Opening of Rocky Gap Lodge & Golf Resort 2013 Reopened as “Rocky Gap Casino Resort” with 558 slot machines and 10 live table games 2018/2020 All 198 hotel rooms redesigned and upgraded 2020/2021 Enhanced amenity offerings including upscale Lakeside Grille, new sports lounge and golf course improvements 1998 2012 2013 2015 2016 2018 2020 2021 2022 2012 Acquired by Lakes Entertainment (“Lakes”) 2015 Acquired by Golden Entertainment through merger with Lakes 2016 Property renovation including new table games, parking spaces and expanded amenity offering 2022 Continuation ofrecord property performance 25

Rocky Gap, MD Competitive Landscape CENTURY CASINOSProperty attracts local and destination drive-in customers from Maryland and surrounding states. Rocky Gap Casino Resort 1 Lady Luck Nemacolin 2 Hollywood Casino Charles Town 3 Live! Casino Pittsburgh 4 Parx Casino Shippensburg 26

ADDITIONAL GROWTH DRIVERS Cape Girardeau Hotel Caruthersville Land-based

Century is Well-Positioned for the Next Stage of Growth Missouri Projects – Cape Girardeau Hotel CENTURY CASINOSCentury commenced construction of a 69-room hotel at Cape Girardeau connected to the existing casino in September 2022.Project will transform the facility to a full resort destination with gaming, various bars and dining venues, as well as conference, concert and event spaces.Expected to open in the first half of 2024 at a cost of approx. $31mm.$12.1mm has been spent as of June 30, 2023.Cape Girardeau Hotel RenderingCape Girardeau Hotel Construction Progress 28

Century is Well-Positioned for the Next Stage of Growth Missouri Projects – Caruthersville Temporary Land-Based Casino & Hotel CENTURY CASINOSOriginally, the casino operated on a riverboat and barge. Closed all games on the riverboat in October 2022 as it was no longer accessible due to record low water levels (continued on barge only).Relocation of all casino operations from riverboat and barge to temporary land-based location in pavilion completed December 2022.Grand opening of The Farmstead in December 2022. 36-room contemporary hotel located near the pavilion and new land-based casino and hotel development.The pavilion, The Farmstead, and the location of the new land-based casino & hotel are all protected by a flood wall. Operations will no longer be affected by water levels in the Mississippi River.29

Century is Well-Positioned for the Next Stage of Growth Missouri Projects – Caruthersville Permanent Land-Based Casino & Hotel CENTURY CASINOSGroundbreaking on December 2, 2022. Expected opening in late 2024.600 slot machines (with the possibility of an expansion for an additional 140), table games, a restaurant and bar.New 38-room hotel, located between the existing pavilion and the new casino, with scenic views.Amendment to Master Lease with VICI. Project cost approx. $51.9mm funded by VICI, rent under Master Lease will increase by approx. $4.2mm (8%) after opening.Transformation from the last remaining riverboat to full destination resort to attract customers from further into Missouri, Tennessee and Arkansas andprovide guests with a better, more convenient casino experience. 30

THANK YOU !

APPENDIX

Appendix Earnings from Operations–  Q2 2023 by Reportable Segment and Operating Segment1 (in USD) CENTURY CASINOSCanada 20% Poland 5% United States 75% Canada 20% Midwest 52% East 4% West 19% Poland 5% 1. Excludes the Corporate and Other Reportable Segment 33

Appendix Net Earnings Attributable to Century Casinos, Inc. Shareholders – Q2 2023 by Reportable Segment and Operating Segment1 (in USD) CENTURY CASINOSCanada 26% Poland 7% United States 67% Canada 26% Midwest 50% East -9% West 26% Poland 7% 1. Excludes the Corporate and Other Reportable Segment34

Appendix Abbreviations of Century Casinos, Inc. Subsidiaries and Certain Reporting Units CENTURY CASINOSAbbreviation Operating SegmentCentury Casinos & Hotel – Central City CTL or Central City MidwestCentury Casino & Hotel – Cripple Creek CRC or Cripple Creek MidwestMountaineer Casino, Resort & Races MTR or Mountaineer EastCentury Casino Cape Girardeau CCG or Cape Girardeau MidwestCentury Casino Caruthersville & The Farmstead CCV or Caruthersville MidwestNugget Casino Resort Nugget Sparks, LLC or Nugget WestSmooth Bourbon, LLC Smooth Bourbon WestCentury Casino & Hotel – Edmonton CRA or Edmonton CanadaCentury Casino St. Albert CSA or St. Albert CanadaCentury Downs Racetrack and Casino CDR or Century Downs CanadaCentury Mile Racetrack and Casino CMR or Century Mile CanadaCasinos Poland CPL PolandCentury Resorts Management GmbH CRM Corporate and OtherCruise Ships & Other Ships & Other Corporate and OtherCorporate Other N/A Corporate and Other35

Appendix Terms and Definitions CENTURY CASINOSIn this presentation, the term “USD” refers to US dollars, the term “CAD” refers to Canadian dollars and the term “PLN” refers to Polish zloty.Amounts presented are rounded. As such, rounding differences could occur in period-over-period changes and percentages reported throughout this presentation. Adjusted EBITDA, Adjusted EBITDA margin and Net Debt are non-GAAP financial measures. See Appendix “Non-GAAP Financial Measures” for the definition and reconciliation of Adjusted EBITDA, Adjusted EBITDA margin and Net Debt.“Nugget Acquisition” means the Company’s purchase of the operating assets of Nugget Casino Resort (the “OpCo Acquisition”) and 50% of the membership interests in the company that owns the real property on which the casino is located (the “Smooth Bourbon Acquisition”).“Rocky Gap Acquisition” means the Company’s purchase of the operations of Rocky Gap Casino, Resort & Golf.“Century Canadian Portfolio” means Century Casino & Hotel Edmonton in Edmonton, Alberta, Century Casino St. Albert in Edmonton, Alberta, Century Mile Racetrack and Casino in Edmonton, Alberta and Century Downs Racetrack and Casino in Calgary, Alberta (collectively).“Canada Real Estate Sale” means the Company’s sale of the real estate assets of the Century Canadian Portfolio to VICI for an aggregate purchase price of CAD 221.7 million ($167.3 million based on the exchange rate on June 30, 2023). Simultaneous with the closing of the transaction, the Century Canadian Portfolio will be added to the Master Lease an annual rent will increase by CAD 17.3 million ($13.1 million based on the exchange rate on June 30, 2023). The Company anticipates retaining approximately CAD 154.5 million ($116.6 million based on the exchange rate on June 30, 2023) of the purchase price after giving effect to the purchase of the land at Century Downs Racetrack and Casino (“Century Downs”), selling expenses, Canadian and US taxes and proceeds to be paid to the minority owners of Century Downs.“Goldman Credit Agreement” means a credit agreement with Goldman Sachs Bank USA and other parties that provides for a $350.0 million term loan and a $30.0 million revolving credit facility (“Revolving Facility”).“Master Lease” means the Company’s master lease of its Missouri, West Virginia, Maryland (pending) and Canada (pending) properties with subsidiaries of VICI Properties Inc. (“VICI”).“Pro Forma” refers to the pro forma effect of (i) the Rocky Gap Acquisition, (ii) the Rocky Gap Acquisition and the Nugget Acquisition, (iii) the Rocky Gap Acquisition and Canada Real Estate Sale, or (iv) the Rocky Gap Acquisition, the Nugget Acquisition and Canada Real Estate Sale, as applicable36

Appendix Non-GAAP Financial Measures CENTURY CASINOSThe Company supplements its consolidated financial statements prepared in accordance with US generally accepted accounting principles (“GAAP”) by using the following non-GAAP financial measures, which management believes are useful in properly understanding the Company’s short-term and long-term financial trends. Management uses these non-GAAP financial measures to forecast and evaluate the operational performance of the Company as well as to compare results of current periods to prior periods on a consolidated basis.Adjusted EBITDAAdjusted EBITDA marginNet DebtAdjusted EBITDA less Lease PaymentsLease DebtLease Adjusted Net LeverageLease Adjusted LeverageManagement believes presenting the non-GAAP financial measures used in this presentation provides investors greater transparency to the information used by management for financial and operational decision-making and allows investors to see the Company’s results “through the eyes” of management. Management also believes providing this information better enables our investors to understand the Company’s operating performance and evaluate the methodology used by management to evaluate and measure such performance.The adjustments made to GAAP financial measures result from facts and circumstances that vary in frequency and impact on the Company’s results of operations. The following is an explanation of each of the adjustments that management excludes in calculating its non-GAAP financial measures.37

Appendix Non-GAAP Financial Measures CENTURY CASINOSThe Company defines Adjusted EBITDA as net earnings (loss) attributable to Century Casinos, Inc. shareholders before interest expense (income), net, income taxes (benefit), depreciation and amortization, non-controlling interests net earnings (loss) and transactions, pre-opening expenses, acquisition costs, non-cash stock-based compensation charges, asset impairment costs, loss (gain) on disposition of fixed assets, discontinued operations, (gain) loss on foreign currency transactions, cost recovery income and other, gain on business combination and certain other one-time transactions. Expense related to the Master Lease for the Company’s acquired casinos in Missouri and West Virginia and CDR land lease is included in the interest expense (income), net line item. 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) attributable to Century Casinos, Inc. shareholders and Adjusted EBITDA reported for each segment. Non-cash stock-based compensation expense is presented under Corporate and Other as the expense is not allocated to reportable segments when reviewed by the Company’s chief operating decision makers. Not all of the aforementioned items occur in each reporting period, but have been included in the definition based on historical activity. These adjustments have no effect on the consolidated results as reported under GAAP. Adjusted EBITDA is not considered a measure of performance recognized under GAAP. Management believes that Adjusted EBITDA is a valuable measure of the relative performance of the Company and its properties. The gaming industry commonly uses Adjusted EBITDA as a method of arriving at the economic value of a casino operation. Management believes that using Adjusted EBITDA is a useful way to compare the relative operating performance of separate operating units by eliminating the above-mentioned items associated with the varying levels of capital expenditures for infrastructure required to generate revenue and the often high cost of acquiring existing operations. Adjusted EBITDA is also used by the Company’s lending institution to gauge operating performance. The Company’s computation of Adjusted EBITDA may be different from, and therefore may not be comparable to, similar measures used by other companies within the gaming industry. Please see the reconciliation of Adjusted EBITDA to net earnings (loss) attributable to Century Casinos, Inc. shareholders below.The Company defines Adjusted EBITDA margin as Adjusted EBITDA divided by net operating revenue. Management uses this margin as one of several measures to evaluate the efficiency of the Company’s casino operations.The Company defines Net Debt as Total Principal Debt minus cash and cash equivalents. Total Principal Debt is defined as total long-term debt (including current portion) plus deferred financing costs. Net Debt is not considered a liquidity measure recognized under GAAP. Management believes that Net Debt is a valuable measure of our overall financial situation. Net Debt provides investors with an indication of our ability to pay off all of our long-term debt if it became due simultaneously.38

Appendix Non-GAAP Financial Measures CENTURY CASINOSAdjusted EBITDA less Lease Payments is calculated by deducting the cash payments related to the Company’s Master Lease, CDR land lease and 50% of the lease payments from the Nugget to Smooth Bourbon (“Lease Payments”) from Adjusted EBITDA to calculate the debt and Net Debt to Adjusted EBITDA ratios. The Company does not recognize rent expense related to the Master Lease assets; instead, a portion of the periodic payment under the Master Lease is recognized as interest expense with the remainder of the payment reducing the failed sale-leaseback financing obligation using the effective interest method. The Company does not recognize rent expense related to the CDR land lease asset; instead, the payment is recognized as interest expense. Management believes that deducting cash payments related to its Master Lease, CDR land lease and 50% of the lease payments from the Nugget to Smooth Bourbon from Adjusted EBITDA provides investors with an indication of the length of time it would take the Company to repay its long-term debt.Lease Debt is Lease Payments capitalized at 8.0x (a metric the Company believes is the industry standard used by analysts for this calculation). Lease Debt is not considered a measure of the Company’s financing obligations under GAAP. Management believes Lease Debt provides investors with a metric that can be used to compare the Company’s leverage to its peers. The Company’s computation of Lease Debt may be different from, and therefore may not be comparable to, similar measures used by other companies within the gaming industry.Lease Adjusted Net Leverage is calculated by dividing the Company’s trailing twelve-month Adjusted EBITDA less Lease Payments by the Company’s Net Debt and Lease Debt. Lease Adjusted Net Leverage shows the Company’s leverage as if the Master Lease, CDR land lease and 50% of the lease payments from the Nugget to Smooth Bourbon were financed as debt obligations. The metric is commonly used by the Company’s peers, and the Company believes that this metric provides a useful comparison for investors. The Company’s computation of Lease Adjusted Net Leverage may be different from, and therefore may not be comparable to, similar measures used by other companies within the gaming industry.Lease Adjusted Leverage is calculated by dividing the Company’s trailing twelve-month Adjusted EBITDA less Lease Payments by the Company’s Total Principal Debt and Lease Debt. Lease Adjusted Leverage shows the Company’s leverage as if the Master Lease, CDR land lease and 50% of the lease payments from the Nugget to Smooth Bourbon were financed as debt obligations. The metric is commonly used by the Company’s peers, and the Company believes that this metric provides a useful comparison for investors. The Company’s computation of Lease Adjusted Leverage may be different from, and therefore may not be comparable to, similar measures used by other companies within the gaming industry. 39

Appendix Non-GAAP Financial Measures – Reconciliation of Adjusted EBITDA CENTURY CASINOSCentury Casinos, Inc.in USD, in thousandsFor the three months ended June 30,20232022Net Operating Revenue$136,761$111,122Net (loss) earnings attributable to Century Casinos, Inc. shareholders(1,959)8,856Interest expense (income), net18,23021,796Income taxes96(10,421)Depreciation and amortization10,1906,779Net earnings attributable to non-controlling interests2,322995Non-cash stock-based compensation9281,012(Gain) loss on foreign currency transactions, cost recovery income and other(737)(424)Loss on disposition of fixed assets(33)(112)Acquisition costs2511,297Adjusted EBITDA$29,288$29,77840

Appendix Non-GAAP Financial Measures – Reconciliation of Adjusted EBITDA CENTURY CASINOSFor the year ended December 31, 2022in USD, in thousandsCentury Casinos, Inc.Nugget Casino ResortRocky Gap Casino ResortPro Forma Property EBITDANet earnings$7,976$1,984$22,966$32,926Interest expense (income), net64,9802231665,219Income tax (benefit) expense(7,660)--(7,660)Depreciation and amortization27,10912,0252,42341,557Net earnings attributable to non-controlling interests5,694--5,694Non-cash stock-based compensation3,335--3,335Gain on foreign currency transactions, cost recovery income and other(1,236)--(1,236)Impairment - intangible and tangible assets (3)----Loss on disposition of fixed assets1834-52Acquisition costs3,124--3,124Pre-opening expenses----Management fees-1,000-1,000Rent expense-11,328-11,328Change in non-cash lease expense--(142)(142)Other, net--120120Adjusted EBITDA$103,340$26,594$25,383$155,317Excluding Corporate and Other$7,227$-$-$7,227Properties Adjusted EBITDA$110,567$26,594$25,383$162,54441

Appendix Non-GAAP Financial Measures – Reconciliation of Adjusted EBITDA CENTURY CASINOSFor the three months ended June 30, 2023in USD, in thousandsEastMidwestWestTotal United StatesNet (loss) income attributable to Century Casinos, Inc. shareholders(968)5,3912,8297,252Interest expense (income), net2,1575,142-7,299Income tax (benefit) expense(240)1,673(245)1,188Depreciation and amortization2,9633,1902,1738,326Loss on foreign currency transactions and other----Gain on disposition of fixed assets(33)--(33)Adjusted EBITDA$3,879$15,396$6,549$25,824For the three months ended June 30, 2022in USD, in thousandsEastMidwestWestTotal United StatesNet income attributable to Century Casinos, Inc. shareholders1,2599,262-10,521Interest expense (income), net2,0995,004-7,103Depreciation and amortization1,5873,171-4,758(Gain) loss on foreign currency transactions and other----Loss on disposition of fixed assets----Adjusted EBITDA$4,945$17,437$-$22,38242

Appendix Non-GAAP Financial Measures – Reconciliation of Adjusted EBITDA CENTURY CASINOSRocky Gap Casino Resort1in USD, in thousandsFor the year ended December 31,2022Net Operating Revenue$78,010Net income22,966Interest expense, net16Depreciation and amortization2,423Adjusted EBITDA$25,383Adjusted EBITDA Margin33%1. The Rocky Gap Acquisition closed on July 25, 2023.43

Appendix Non-GAAP Financial Measures – Reconciliation of Quarterly Adjusted EBITDA CENTURY CASINOS20192020202120222023in USD, in millionsQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Net earnings (loss) attributable to Century Casinos, Inc. shareholders$1.1$(0.6)$0.5$(20.1)$(45.9)$(12.6)$3.7$6.7$(1.4)$6.9$11.2$4.0$0.2$8.9$2.9$(4.0)$(1.2)$(2.0)Interest expense (income), net1.31.41.44.211.410.610.610.610.510.710.610.810.821.815.317.017.518.2Income taxes (benefit)0.71.41.11.02.50.60.41.30.11.12.62.61.4(10.4)0.90.51.60.1Depreciation and amortization2.42.42.83.16.56.46.86.86.66.66.86.76.86.86.86.86.910.2Non-controlling interests0.70.90.60.90.2(0.6)0.20.1(0.5)(0.6)1.21.12.51.01.30.94.32.3Non-cash stock-based compensation0.30.40.40.3(0.0)0.20.4(0.8)0.30.31.01.10.71.01.00.70.70.9(Gain) loss on foreign currency transactions, cost recovery income and other(0.3)(0.5)(0.1)(0.4)0.8(7.5)0.0(6.4)(1.0)0.0(0.3)(1.4)0.2(0.4)(0.4)(0.7)(4.3)(0.7)Impairment - intangible and tangible assets---16.534.01.2------------Loss (gain) on disposition of fixed assets0.00.50.10.10.0(0.1)0.00.10.10.20.00.10.0(0.1)0.00.10.5(0.0)Acquisition costs-0.80.34.30.20.1------1.11.30.30.40.20.3Preopening expenses0.5-----------------Other one-time (income) costs------------------Adjusted EBITDA$6.7$6.7$7.1$9.8$9.6$(1.8)$22.2$18.3$14.7$25.2$33.1$24.9$23.8$29.8$28.1$21.7$26.1$29.344

Appendix Non-GAAP Financial Measures – Reconciliation of Adjusted EBITDA and Adjusted EBITDA lessLease Payments (in thousands) CENTURY CASINOSin USD, in thousandsQ3 2022Q4 2022Q1 2023Q2 2023Trailing-Twelve Months Ended March 31, 2023"Year EndedDecember 31, 2022"Net earnings (loss) attributable to Century Casinos, Inc. shareholders$2,944$(4,042)$(1,243)$(1,959)$(4,300)$7,976Interest expense (income), net15,35017,04117,50418,23068,12464,980Income tax expense8554701,623963,045(7,660)Depreciation and amortization6,7766,7596,85510,19030,58027,109Non-controlling interests1,2669414,2742,3228,8045,694Non-cash stock-based compensation9536977369283,3143,335Gain on foreign currency transactions, cost recovery income and other(409)(653)(4,332)(737)(6,130)(1,236)Loss (gain) on disposition of fixed assets3854479(33)53918Acquisition costs2953991582511,1043,124Adjusted EBITDA$28,068$21,666$26,054$29,288$105,080$103,340Cash payments on Master Lease(8,501)(6,539)(6,865)(6,866)(28,771)(25,666)Adjusted EBITDA less Lease Payments$19,034$14,620$18,703$20,036$72,397$75,58645

Appendix Non-GAAP Financial Measures – Calculation of Lease Adjusted Net Leverage and LeaseAdjusted Leverage CENTURY CASINOS"Trailing Twelve Months ended June 30, 2023""Rocky Gap Acquisition (1)""Canada RealEstate Sale (2)""Trailing Twelve Months ended June 30, 2023"in dollars, in millionsCurrent0(PENDING)PRO FORMACash$108.6$(30.2)$116.6$195.0Total Principal Debt364.130.0(14.7)379.4Net Debt255.560.2(131.3)184.4Adj EBITDA (3)105.125.4-130.5Lease Payments (4)(32.7)(15.5)(11.1)(59.3)Adj EBITDA less Lease Payments$72.4$71.2Total Principal Debt / Adj EBITDA less Lease Payments (6)5.0x5.3xNet Debt / Adj EBITDA less Lease Payments (5)3.5x2.6xLease Debt(7) Capitalized at 8.0x261.0124.089.0474.0Lease Debt plus Net Debt516.5--658.4Lease Adjusted Net Leverage4.9x5.0xIn addition to the Lease Payments presented in the table above, operating lease payments for the trailing-twelve months ended June 30, 2023 were $5.2 million.1. Includes: (1) The purchase price for the Rocky Gap Acquisition that the Company paid in cash, including the $30.0 million borrowed from the Company’s Revolving Facility under its Goldman Credit Agreement, (2) Adjusted EBITDA for twelve months ended December 31, 2022, attributable to Rocky Gap, and (3) cash lease payments related to the amendments to the Master Lease for the Rocky Gap Acquisition. Acquisition was completed on July 25, 2023. 2. Includes: (1) The anticipated proceeds from the Canada Real Estate Sale after purchase of the land at Century Downs (CAD 154.5 million), and (2) cash lease payments related to the amendments to the Master Lease for the Century Canadian Portfolio (CAD 17.3 million) less current payments on the CDR land lease. (USD/CAD 0.7545 the exchange rate as of June 30, 2023). 3. Adjusted EBITDA related to the Company is for the trailing twelve months ended June 30, 2023. 4. The Company’s Master Lease, CDR land lease and 50% of the Nugget lease payments to Smooth Bourbon for the trailing twelve months ended June 30, 2023. Payments related to Rocky Gap and Century Canadian Portfolio leases are presented as annual payments for the first twelve months of the lease. 5. Net Debt to Adjusted EBITDA less Lease Payments is calculated by dividing the Company’s Adjusted EBITDA less Lease Payments for the trailing twelve months ended June 30, 2023 by Net Debt. 6. Total Principal Debt to Adjusted EBITDA less Lease Payments is calculated by dividing the Company’s Adjusted EBITDA less Lease Payments for the trailing twelve months ended June 30, 2023 by Total Principal Debt. 7. Calculated as Lease Payments capitalized at 8.0x46

Appendix Non-GAAP Financial Measures – Reconciliation of Net Debt CENTURY CASINOSAmounts in thousandsJune 30, 2023December 31, 2022Total long-term debt, including current portion$348,597$349,580Deferred financing costs15,49616,844Total principal$364,093$366,424Less: Cash and cash equivalents$108,595$101,785Net Debt$255,498$264,63947

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Document and Entity Information	Aug. 07, 2023
Document and Entity Information [Abstract]
Document Type	8-K
Document Period End Date	Aug. 07, 2023
Entity Registrant Name	CENTURY CASINOS, INC.
Entity Incorporation, State or Country Code	DE
Entity File Number	0-22900
Entity Tax Identification Number	84-1271317
Entity Address, Address Line One	455 E. Pikes Peak Ave.
Entity Address, Address Line Two	Suite 210
Entity Address, City or Town	Colorado Springs
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80903
City Area Code	719
Local Phone Number	527-8300
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, $0.01 Per Share Par Value
Trading Symbol	CNTY
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false
Amendment Flag	false
Entity Central Index Key	0000911147