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Segment Information (Tables)
 9 Months Ended
Sep. 30, 2023
Segment Information [Abstract]  
Schedule Of Information By Reportable Segment

For the three months ended September 30, 2023

Amounts in thousands

United States

Canada

Poland

Corporate and Other

Total

Net operating revenue

$

116,861

$

20,921

$

23,397

$

—

$

161,179

Earnings (loss) before income taxes

7,861

(6,586)

1,558

(19,367)

(16,534)

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

$

5,273

$

(1,730)

$

788

$

(18,506)

$

(14,175)

Interest expense (income), net (1)

11,951

8,706

(74)

10,785

31,368

Income taxes (benefit)

818

(3,403)

378

(861)

(3,068)

Depreciation and amortization

10,706

1,102

653

57

12,518

Net earnings (loss) attributable to non-controlling interests

1,770

(1,453)

392

—

709

Non-cash stock-based compensation

—

—

—

1,082

1,082

(Gain) loss on foreign currency transactions, cost recovery income and other (2)

(85)

1,484

(213)

(46)

1,140

Loss on disposition of fixed assets

56

—

24

—

80

Acquisition costs

—

—

—

3,693

3,693

Adjusted EBITDA

$

30,489

$

4,706

$

1,948

$

(3,796)

$

33,347

(1)Included in interest expense (income), net is interest expense of $12.0 million and $0.9 million related to the Master Lease in the United States and Canada segments, respectively, and interest expense of $0.4 million related to the CDR land lease and $7.3 million related to the debt extinguishment of the CDR land lease in the Canada segment. Cash payments related to the Master Lease and CDR land lease were $11.9 million and $0.3 million, respectively, for the period presented. The CDR land lease ended on September 6, 2023 in conjunction with the Canada Real Estate Sale.

(2)Included in the Canada segment is $0.3 million related to the earn out from the sale of casino operations in Calgary in 2020.

For the three months ended September 30, 2022

Amounts in thousands

United States

Canada

Poland

Corporate and Other

Total

Net operating revenue (1)

$

70,718

$

20,065

$

21,733

$

36

$

112,552

Earnings from equity investment

—

—

—

1,071

1,071

Earnings (loss) before income taxes

9,139

3,395

3,513

(10,982)

5,065

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

$

2,372

$

2,623

$

2,032

$

(4,083)

$

2,944

Interest expense (income), net (2)

7,201

581

(519)

8,087

15,350

Income taxes (benefit)

6,767

522

465

(6,899)

855

Depreciation and amortization

4,892

1,180

623

81

6,776

Net earnings attributable to non-controlling interests

—

250

1,016

—

1,266

Non-cash stock-based compensation

—

—

—

953

953

Gain on foreign currency transactions and cost recovery income

—

(71)

(333)

(5)

(409)

Loss on disposition of fixed assets

11

—

27

—

38

Acquisition costs

—

—

—

295

295

Adjusted EBITDA

$

21,243

$

5,085

$

3,311

$

(1,571)

$

28,068

(1)Net operating revenue for Corporate and Other primarily related to the Company’s cruise ship operations, which ceased in April 2023.

(2)Included in interest expense (income), net is interest expense of $7.2 million related to the Master Lease in the United States segment and interest expense of $0.6 million related to the CDR land lease in the Canada segment. Cash payments related to the Master Lease and CDR land lease were $8.5 million and $0.5 million, respectively, for the period presented. The CDR land lease ended on September 6, 2023 in conjunction with the Canada Real Estate Sale.

For the nine months ended September 30, 2023

Amounts in thousands

United States

Canada

Poland

Corporate and Other

Total

Net operating revenue (1)

$

277,636

$

56,262

$

72,489

$

61

$

406,448

Earnings from equity investment

—

—

—

1,121

1,121

Earnings (loss) before income taxes

25,244

4,453

5,995

(47,113)

(11,421)

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

$

17,026

$

2,865

$

3,066

$

(40,334)

$

(17,377)

Interest expense (income), net (2)

26,370

9,776

(285)

31,238

67,099

Income taxes (benefit)

4,656

(624)

1,398

(6,779)

(1,349)

Depreciation and amortization

24,065

3,374

1,948

175

29,562

Net earnings attributable to non-controlling interests

3,562

2,212

1,531

—

7,305

Non-cash stock-based compensation

—

—

—

2,746

2,746

Gain on foreign currency transactions, cost recovery income and other (3)

(85)

(3,228)

(572)

(42)

(3,927)

Loss on disposition of fixed assets

492

5

25

4

526

Acquisition costs

—

—

—

4,101

4,101

Adjusted EBITDA

$

76,086

$

14,380

$

7,111

$

(8,891)

$

88,686

(1)Net operating revenue for Corporate and Other primarily related to the Company’s cruise ship operations, which ceased in April 2023.

(2)Included in interest expense (income), net is interest expense of $26.4 million and $0.9 million related to the Master Lease in the United States and Canada segments, respectively, and interest expense of $1.4 million related to the CDR land lease and $7.3 million related to the debt extinguishment of the CDR land lease in the Canada segment. Cash payments related to the Master Lease and CDR land lease were $25.7 million and $1.3 million, respectively, for the period presented. The CDR land lease ended on September 6, 2023 in conjunction with the Canada Real Estate Sale.

(3)Included in the Canada segment is $1.6 million related to the earn out from the sale of casino operations in Calgary in 2020 and cost recovery income for CDR.


‎

For the nine months ended September 30, 2022

Amounts in thousands

United States

Canada

Poland

Corporate and Other

Total

Net operating revenue (1)

$

206,275

$

55,105

$

65,265

$

131

$

326,776

Earnings from equity investment

—

—

—

2,134

2,134

Earnings (loss) before income taxes

28,176

9,123

7,967

(36,626)

8,640

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

$

21,409

$

4,797

$

4,285

$

(18,473)

$

12,018

Interest expense (income), net (2)

21,310

1,733

(586)

25,482

47,939

Income taxes (benefit)

6,767

1,718

1,538

(18,153)

(8,130)

Depreciation and amortization

14,418

3,632

1,979

321

20,350

Net earnings attributable to non-controlling interests

—

2,608

2,144

—

4,752

Non-cash stock-based compensation

—

—

—

2,638

2,638

(Gain) loss on foreign currency transactions, cost recovery income and other (3)

(1)

138

(712)

(8)

(583)

Loss (gain) on disposition of fixed assets

33

23

31

(124)

(37)

Acquisition costs

—

—

—

2,724

2,724

Adjusted EBITDA

$

63,936

$

14,649

$

8,679

$

(5,593)

$

81,671

(1)Net operating revenue for Corporate and Other primarily related to the Company’s cruise ship operations and consulting agreements, which ceased in April 2023.

(2)Included in interest expense (income), net is interest expense of $21.3 million related to the Master Lease in the United States segment, interest expense of $1.7 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 $19.1 million and $1.6 million, respectively, for the period presented. The CDR land lease ended on September 6, 2023 in conjunction with the Canada Real Estate Sale.

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