Segment Information

6 Months Ended

Jun. 30, 2026

Segment Information [Abstract]

Segment Information

12.SEGMENT INFORMATION

During the fourth quarter of 2025, due to changes in expected long-term future economic characteristics, the Company determined that the aggregation of operating segments within the United States reportable segment was no longer appropriate. As a result, the Company reorganized its reportable segments to provide greater specificity within the United States. Although the Company’s consolidated results of operations, financial position and cash flows were not impacted, the Company has updated the segment disclosures for prior periods to reflect the new reporting structure.

The Company reports its financial performance in five reportable segments based on the geographical locations in which its casinos operate: US East, US Midwest, US West, Canada and Poland. The Company views each casino or other operation within those markets as a reporting unit. Operating segments are aggregated within reportable segments based on their similar economic characteristics, types of customers, types of services and products provided, the regulatory environments in which they operate, and their management and reporting structure. All intercompany transactions are eliminated in consolidation.

The Company’s chief operating decision maker is a management function comprised of two individuals. These two individuals are the Company’s Co-Chief Executive Officers. The Company’s chief operating decision makers and management utilize Adjusted EBITDAR as a primary profit measure for the Company’s reportable segments as follows:

within the annual budget and forecasting process when making decisions about the allocation of operating and capital resources to each segment;

to evaluate monthly results compared to budget which are used in assessing segment performance;

to determine whether to invest in growth projects in the segment; and

to determine initiatives such as acquisitions or deleveraging.

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

Reportable Segment and ‎Operating Segment	Reporting Unit
US East	Mountaineer Casino, Resort & Races (1)
	Rocky Gap Casino, Resort & Golf (1)
US Midwest	Century Casino & Hotel Central City
	Century Casino & Hotel Cripple Creek
	Century Casino & Hotel Cape Girardeau and The Riverview (1)
	Century Casino & Hotel Caruthersville and The Farmstead (1)
US West	Nugget Casino Resort and Smooth Bourbon, LLC
Canada	Century Casino & Hotel Edmonton (1)
	Century Casino St. Albert (1)
	Century Mile Racetrack and Casino (1)
	Century Downs Racetrack and Casino (1)
Poland	Casinos Poland

(1)The real estate assets, except The Riverview hotel in Cape Girardeau and The Farmstead hotel in Caruthersville, are owned by VICI PropCo and leased under the Master Lease.

Adjusted EBITDAR

Adjusted EBITDAR is a non-US GAAP measure defined as net (loss) earnings attributable to Century Casinos, Inc. shareholders before interest expense (income), net, income taxes (benefit), depreciation, amortization, non-controlling interest earnings (loss) and transactions, pre-opening expenses, termination expenses, acquisition costs, non-cash stock-based compensation charges, asset impairment costs, (gain) loss on disposition of fixed assets, discontinued operations, (gain) loss on foreign currency transactions, cost recovery income and other, gain on business combination and certain other one-time transactions. Expense related to the Master 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 (loss) earnings attributable to Century Casinos, Inc. shareholders and Adjusted EBITDAR reported for each segment. Non-cash stock-based compensation expense is presented under Corporate and Other in the tables below as the expense is not allocated to reportable segments when reviewed by the Company’s chief operating decision makers. 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 EBITDAR is not considered a measure of performance recognized under US GAAP.

The following tables provide information regarding the Company’s reportable segments:

	For the three months ended June 30, 2026
Amounts in thousands			US ‎East		US ‎Midwest		US ‎West		Canada		Poland		Other (1)		Total
Net operating revenue		$	43,576	$	44,680	$	23,378	$	20,439	$	19,922	$	—	$	151,995
Less:
Payroll expense			9,213		8,754		7,647		5,877		6,023
Operating expenses (2)			7,480		7,459		6,813		6,493		3,203
Gaming tax expense			17,311		10,299		574		—		9,820
Cost of goods sold			1,072		613		1,485		1,157		196
Marketing expenses			846		866		2,351		692		628
Segment Adjusted EBITDAR		$	7,654	$	16,689	$	4,508	$	6,220	$	52			$	35,123
Other operating benefits (costs) and other income (expenses):
Corporate and other expenses (3)														$	(4,713)
Interest income															85
Interest expense (4)															(25,937)
Depreciation and amortization															(13,014)
Non-cash stock-based compensation															(211)
Gain on foreign currency transactions, cost recovery income and other															9
Loss on disposition of fixed assets															(22)
Loss before income taxes															(8,680)
Income tax expense															(625)
Net loss														$	(9,305)

(1)Represents additional business activities including certain other corporate and management operations that are not included in the Company’s reportable segments. Information is presented for reconciliation purposes.

(2)Operating expenses include professional services, supplies, maintenance, utilities and other expenses not otherwise categorized in this table.

(3)Includes $1.3 million related to employee termination expenses at the Company’s office in Austria.

(4)Interest expense primarily relates to the Master Lease and the Goldman Credit Agreement.

‎

	For the three months ended June 30, 2025
Amounts in thousands			US ‎East		US ‎Midwest		US ‎West		Canada		Poland		Other (1)		Total
Net operating revenue		$	44,556	$	41,374	$	20,174	$	20,005	$	24,709	$	—	$	150,818
Less:
Payroll expense			9,464		8,781		7,425		6,097		6,810
Operating expenses (2)			7,382		6,801		6,351		6,446		3,658
Gaming tax expense			17,872		8,668		595		—		12,054
Cost of goods sold			1,129		614		1,639		1,135		188
Marketing expenses			806		1,058		1,826		720		798
Pre-opening and termination expenses			—		—		—		—		(741)
Segment Adjusted EBITDAR		$	7,903	$	15,452	$	2,338	$	5,607	$	1,942			$	33,242
Other operating benefits (costs) and other income (expenses):
Corporate and other expenses														$	(2,938)
Interest income															273
Interest expense (3)															(26,211)
Depreciation and amortization															(12,843)
Non-cash stock-based compensation															(195)
Gain on foreign currency transactions, cost recovery income and other (4)															1,124
Loss on disposition of fixed assets															(34)
Pre-opening and termination expenses															(741)
Loss before income taxes															(8,323)
Income tax expense															(1,250)
Net loss														$	(9,573)

(1)Represents additional business activities including certain other corporate and management operations that are not included in the Company’s reportable segments. Information is presented for reconciliation purposes.

(2)Operating expenses include professional services, supplies, maintenance, utilities and other expenses not otherwise categorized in this table.

(3)Interest expense primarily relates to the Master Lease and the Goldman Credit Agreement.

(4)Includes $1.0 million related to cost recovery income for CDR in the Canada segment.

‎

	For the six months ended June 30, 2026
Amounts in thousands			US ‎East		US ‎Midwest		US ‎West		Canada		Poland		Other (1)		Total
Net operating revenue		$	82,505	$	86,487	$	40,446	$	38,762	$	41,034	$	—	$	289,234
Less:
Payroll expense			18,295		17,681		15,428		11,759		12,150
Operating expenses (2)			13,589		14,486		12,285		11,814		6,249
Gaming tax expense			34,110		19,193		1,136		—		20,240
Cost of goods sold			1,956		1,194		2,956		2,123		382
Marketing expenses			1,518		1,596		2,739		1,363		1,458
Segment Adjusted EBITDAR		$	13,037	$	32,337	$	5,902	$	11,703	$	555			$	63,534
Other operating benefits (costs) and other income (expenses):
Corporate and other expenses (3)														$	(8,185)
Interest income															221
Interest expense (4)															(51,882)
Depreciation and amortization															(26,031)
Non-cash stock-based compensation															(372)
Gain on foreign currency transactions, cost recovery income and other															201
Loss on disposition of fixed assets															(41)
Loss before income taxes															(22,555)
Income tax expense															(1,534)
Net loss														$	(24,089)

(1)Represents additional business activities including certain other corporate and management operations that are not included in the Company’s reportable segments. Information is presented for reconciliation purposes.

(2)Operating expenses include professional services, supplies, maintenance, utilities and other expenses not otherwise categorized in this table.

(3)Includes $1.3 million related to employee termination expenses at the Company’s office in Austria.

(4)Interest expense primarily relates to the Master Lease and the Goldman Credit Agreement.

‎

	For the six months ended June 30, 2025
Amounts in thousands			US ‎East		US ‎Midwest		US ‎West		Canada		Poland		Other (1)		Total
Net operating revenue		$	81,690	$	81,128	$	36,583	$	36,521	$	45,339	$	—	$	281,261
Less:
Payroll expense			18,426		18,132		14,990		11,557		12,887
Operating expenses (2)			13,537		13,888		11,677		11,588		7,052
Gaming tax expense			34,084		17,118		1,170		—		22,068
Cost of goods sold			1,983		1,245		3,302		2,017		359
Marketing expenses			1,517		1,855		2,385		1,392		1,507
Pre-opening and termination expenses			—		—		—		—		(1,022)
Segment Adjusted EBITDAR		$	12,143	$	28,890	$	3,059	$	9,967	$	2,488			$	56,547
Other operating benefits (costs) and other income (expenses):
Corporate and other expenses														$	(6,088)
Interest income															653
Interest expense (3)															(52,247)
Depreciation and amortization															(25,236)
Non-cash stock-based compensation															(486)
Gain on foreign currency transactions, cost recovery income and other (4)															1,243
Loss on disposition of fixed assets															(84)
Pre-opening and termination expenses															(1,022)
Loss before income taxes															(26,720)
Income tax expense															(1,732)
Net loss														$	(28,452)

(1)Represents additional business activities including certain other corporate and management operations that are not included in the Company’s reportable segments. Information is presented for reconciliation purposes.

(2)Operating expenses include professional services, supplies, maintenance, utilities and other expenses not otherwise categorized in this table.

(3)Interest expense primarily relates to the Master Lease and the Goldman Credit Agreement.

(4)Includes $1.0 million related to cost recovery income for CDR in the Canada segment.

Additional reconciliations of the Company’s assets by reportable segment are included in the table below.

	As of June 30,
Amounts in thousands		2026		2025		2026		2025		2026		2025
	Segment Assets (1)				Long-Lived Assets (2)				Total Assets
US East	$	9,220	$	10,033	$	302,154	$	313,402	$	320,336	$	331,045
US Midwest		13,411		13,555		315,139		326,908		331,898		343,769
US West		3,608		5,353		214,955		226,878		225,162		239,457
Canada		16,498		23,335		123,437		132,151		161,860		178,700
Poland		3,886		5,398		37,832		43,306		43,747		51,241
Other (3)		13,556		27,867		2,295		2,743		22,201		37,766
Total	$	60,179	$	85,541	$	995,812	$	1,045,388	$	1,105,204	$	1,181,978

(1)Segment assets are cash and cash equivalents.

(2)Long-lived assets are calculated as total assets less total current assets and deferred income taxes.

(3)Represents additional business activities including certain other corporate and management operations that are not included in the Company’s reportable segments. Information is presented for reconciliation purposes.

‎

Additional reconciliations of capital expenditures by reportable segment are included in the table below.

	For the three months ended				For the six months ended
	June 30,				June 30,
Amounts in thousands		2026		2025		2026		2025
US East	$	1,362	$	249	$	1,671	$	1,444
US Midwest		737		3,810		1,395		6,076
US West		850		594		1,178		2,985
Canada		90		973		497		1,741
Poland		91		173		1,078		233
Other (1)		9		10		12		19
Total	$	3,139	$	5,809	$	5,831	$	12,498

(1)Represents additional business activities including certain other corporate and management operations that are not included in the Company’s reportable segments. Information is presented for reconciliation purposes.