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Century Casinos, Inc. Announces Second Quarter 2020 Results

COLORADO SPRINGS, Colo., Aug. 7, 2020 /CNW/ — Century Casinos, Inc. (Nasdaq Capital Market®: CNTY) today announced its financial results for the three and six months ended June 30, 2020.

Century Casinos Logo (PRNewsfoto/Century Casinos, Inc.)

  • Net operating revenue was $36.1 million, compared to $52.4 million for the three months ended June 30, 2019, a decrease of (31%).
  • Losses from operations were ($2.1) million, compared to earnings of $2.6 million for the three months ended June 30, 2019, a decrease of (181%).
  • Net loss attributable to Century Casinos, Inc. shareholders was ($12.6) million, compared to ($0.6) million for the three months ended June 30, 2019, a decrease of (2131%).
  • Adjusted EBITDA** was ($1.8) million, compared to $6.7 million for the three months ended June 30, 2019, a decrease of (126%).
  • Loss per share was ($0.43).  
  • Book value per share*** at June 30, 2020 was $3.31.
  • $1.2 million impairment of goodwill and casino licenses as discussed below. The Company’s second quarter 2020 net operating revenue and Adjusted EBITDA also were significantly impacted by the acquisition of Mountaineer Casino, Racetrack & Resort, Century Casino Cape Girardeau and Century Casino Caruthersville (the “Acquired Casinos”) in December 2019.

    China and has since spread throughout much of the world. Between March 13, 2020 and March 17, 2020, the Company closed all of its casinos, hotels and other facilities to comply with quarantines issued by governments to contain the spread of COVID-19. The Company’s Polish locations reopened on May 18, 2020 and its North American operations reopened between June 1, 2020 and June 17, 2020.

    The COVID-19 pandemic has had an adverse effect on the Company’s first and second quarter 2020 results of operations and financial condition, and the Company expects this situation will continue to have an adverse impact on its results for the remainder of 2020. The duration and ultimate impact of the COVID-19 pandemic otherwise remains uncertain. The trends below are not the only items that could impact the Company’s future performance, and the views of management are based on currently available information.

    United States and Canadian employees, including part time employees. In Poland, all employees were paid reduced salaries based on local employment laws. The Company continues to operate with reduced spending on most advertising and marketing costs as well as implementing cost saving initiatives intended to eliminate approximately $13.7 million of non-labor operating costs in 2020. The Company intends to defer or eliminate approximately $2.2 million of discretionary capital projects for the remainder of 2020 in order to proactively address its capital spending for 2020. Additionally, the Company negotiated arrangements with some of its contractual counterparties, such as vendors and lessors, to modify the timing of certain contractual payments.

    $1.2 million and $35.1 million to impairment – goodwill and intangible assets on its condensed consolidated statement of (loss) earnings for the three and six months ended June 30, 2020, respectively.  

    June 30, 2020, the Company had $51.6 million in cash on hand, compared to $63.7 million at March 31, 2020 and $54.8 million at December 31, 2019.

    June 30, 2020 and 2019 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:

    2020

    2019

    % Change

    2020

    2019

    % Change

    Net Operating Revenue

    $

    36,103

    $

    52,445

    (31%)

    $

    123,760

    $

    98,057

    26%

    (Loss) Earnings from Operations

    (2,114)

    2,598

    (181%)

    (33,887)

    6,044

    (661%)

    Net (Loss) Earnings Attributable to Century Casinos, Inc. Shareholders

    $

    (12,607)

    $

    (565)

    (2131%)

    $

    (58,463)

    $

    503

    (11723%)

    Adjusted EBITDA**

    $

    (1,762)

    $

    6,709

    (126%)

    $

    7,822

    $

    13,412

    (42%)

    (Loss) Earnings Per Share Attributable to Century Casinos, Inc. Shareholders:

    Basic and Diluted

    $

    (0.43)

    $

    (0.02)

    (2050%)

    $

    (1.98)

    $

    0.02

    (10000%)

     

    June 2020 and 2019 are as follows:

    For the month ended

    Amounts in thousands

    June 30,

    Consolidated Results

    2020

    2019

    % Change

    Net Operating Revenue

    $

    32,524

    $

    17,828

    82%

    Earnings (Loss) from Operations

    7,081

    (7)

    101257%

    Net Earnings (Loss) Attributable to Century Casinos, Inc. Shareholders

    $

    2,664

    $

    (1,858)

    243%

    Adjusted EBITDA*

    $

    10,806

    $

    2,274

    375%

     

    July 2020 net operating revenue is $30.3 million and Adjusted EBITDA is $7.4 million compared to July 2019 net operating revenue of $18.1 million and Adjusted EBITDA of $2.8 million.

    “We are excited by the enthusiasm our customers have shown in visiting our reopened casinos. We are pleased that our operations have been able to achieve cash positive positions so soon after reopening,” Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos remarked. “We continue to take social distancing and our customers’ health very seriously, and we continue to explore new ways to further improve customer safety. We would like to thank our customers, employees, communities and authorities for their cooperation and support both during and after our temporary closures,” Haitzmann and Hoetzinger concluded.

    June 30, 2020:

    Reportable Segment

    Operating Segment

    Reporting Unit

    United States

    Colorado

    Century Casino & Hotel – Central City

    Century Casino & Hotel – Cripple Creek

    West Virginia

    Mountaineer Casino, Racetrack & Resort

    Missouri

    Century Casino Cape Girardeau

    Century Casino Caruthersville

    Canada

    Edmonton

    Century Casino & Hotel – Edmonton

    Century Casino St. Albert

    Century Mile Racetrack and Casino

    Calgary

    Century Casino Calgary

    Century Downs Racetrack and Casino

    Century Bets! Inc.

    Poland

    Poland

    Casinos Poland

    Corporate and Other

    Corporate and Other

    Cruise Ships & Other

    Corporate Other

     

    ($16.3) million, or (31%), and increased by $25.7 million, or 26%, for the three and six months ended June 30, 2020, compared to the three and six months ended June 30, 2019. Following is a summary of the changes in net operating revenue by reportable segment for the three and six months ended June 30, 2020, compared to the three and six months ended June 30, 2019:

    Net Operating Revenue

    For the three months

    For the six months

    ended June 30,

    ended June 30,

    Amounts in thousands

    2020

    2019

    $ Change

    %
    Change

    2020

    2019

    $ Change

    %
    Change

    United States

    $

    23,832

    $

    8,809

    $

    15,023

    171%

    $

    77,262

    $

    16,874

    $

    60,388

    358%

    Canada

    4,719

    21,988

    (17,269)

    (79%)

    20,902

    38,289

    (17,387)

    (45%)

    Poland

    7,390

    20,107

    (12,717)

    (63%)

    24,453

    39,859

    (15,406)

    (39%)

    Corporate and Other

    162

    1,541

    (1,379)

    (90%)

    1,143

    3,035

    (1,892)

    (62%)

    Consolidated

    $

    36,103

    $

    52,445

    $

    (16,342)

    (31%)

    $

    123,760

    $

    98,057

    $

    25,703

    26%

     

    ($4.7) million, or (181%), and by ($39.9) million, or (661%), for the three and six months ended June 30, 2020, compared to the three and six months ended June 30, 2019.  Following is a summary of the changes in earnings (loss) from operations by reportable segment for the three and six months ended June 30, 2020, compared to the three and six months ended June 30, 2019:

    (Loss) Earnings from Operations

    For the three months

    For the six months

    ended June 30,

    ended June 30,

    Amounts in thousands

    2020

    2019

    $ Change

    %
    Change

    2020

    2019

    $ Change

    %
    Change

    United States

    $

    (3,317)

    $

    1,642

    $

    (4,959)

    (302%)

    $

    (28,401)

    $

    2,979

    $

    (31,380)

    (1053%)

    Canada

    (1,229)

    4,883

    (6,112)

    (125%)

    (2,917)

    8,583

    (11,500)

    (134%)

    Poland

    (2,201)

    1,021

    (3,222)

    (316%)

    (1,910)

    2,695

    (4,605)

    (171%)

    Corporate and Other

    4,633

    (4,948)

    9,581

    194%

    (659)

    (8,213)

    7,554

    92%

    Consolidated

    $

    (2,114)

    $

    2,598

    $

    (4,712)

    (181%)

    $

    (33,887)

    $

    6,044

    $

    (39,931)

    (661%)

     

    ($12.0) million, or (2131%), and by ($59.0) million, or (11723%), for the three and six months ended June 30, 2020, compared to the three and six months ended June 30, 2019. Following is a summary of the changes in net earnings (loss) attributable to Century Casinos, Inc. shareholders by reportable segment for the three and six months ended June 30, 2020, compared to the three and six months ended June 30, 2019:

    Net (Loss) Earnings Attributable to Century Casinos, Inc. Shareholders

    For the three months

    For the six months

    ended June 30,

    ended June 30,

    Amounts in thousands

    2020

    2019

    $ Change

    %
    Change

    2020

    2019

    $ Change

    %
    Change

    United States

    $

    (10,271)

    $

    1,236

    $

    (11,507)

    (931%)

    $

    (43,659)

    $

    2,215

    $

    (45,874)

    (2071%)

    Canada

    (1,781)

    2,536

    (4,317)

    (170%)

    (5,987)

    4,085

    (10,072)

    (247%)

    Poland

    (1,246)

    425

    (1,671)

    (393%)

    (1,218)

    1,339

    (2,557)

    (191%)

    Corporate and Other

    691

    (4,762)

    5,453

    115%

    (7,599)

    (7,136)

    (463)

    (7%)

    Consolidated

    $

    (12,607)

    $

    (565)

    $

    (12,042)

    (2131%)

    $

    (58,463)

    $

    503

    $

    (58,966)

    (11723%)

     

    Items deducted from or added to earnings from operations to arrive at net earnings (loss) attributable to Century Casinos, Inc. shareholders include interest income, interest expense, gains (losses) on foreign currency transactions and other, income tax expense and non-controlling interests.

    ($8.5) million, or (126%), and by ($5.6) million, or (42%), for the three and six months ended June 30, 2020 compared to the three and six months ended June 30, 2019. Following is a summary of the changes in Adjusted EBITDA** by reportable segment for the three and six months ended June 30, 2020 compared to the three and six months ended June 30, 2019:

    Adjusted EBITDA**

    For the three months

    For the six months

    ended June 30,

    ended June 30,

    Amounts in thousands

    2020

    2019

    $ Change

    %
    Change

    2020

    2019

    $ Change

    %
    Change

    United States

    $

    2,086

    $

    2,170

    $

    (84)

    (4%)

    $

    10,850

    $

    4,082

    $

    6,768

    166%

    Canada

    (1)

    5,944

    (5,945)

    (100%)

    3,025

    10,974

    (7,949)

    (72%)

    Poland

    (1,466)

    1,985

    (3,451)

    (174%)

    (407)

    4,435

    (4,842)

    (109%)

    Corporate and Other

    (2,381)

    (3,390)

    1,009

    30%

    (5,646)

    (6,079)

    433

    7%

    Consolidated

    $

    (1,762)

    $

    6,709

    $

    (8,471)

    (126%)

    $

    7,822

    $

    13,412

    $

    (5,590)

    (42%)

     

    June 30, 2020, the Company had $51.6 million in cash and cash equivalents and $194.2 million in outstanding debt on its balance sheet compared to $54.8 million in cash and cash equivalents and $179.0 million in outstanding debt at December 31, 2019. The outstanding debt as of June 30, 2020 included $179.1 million related to the Company’s credit agreement with Macquarie Capital (“Macquarie”), $1.6 million of bank debt related to Casinos Poland, $9.0 million of bank debt related to Century Resorts Management GmbH (“CRM”), and $14.3 million related to a long-term land lease for Century Downs Racetrack and Casino (“CDR”), net of $9.8 million in deferred financing costs. The Company also has a $277.1 million long-term financing obligation under its triple net master lease for the three Acquired Casino properties (“Master Lease”), which has an initial annual rent of approximately $25.0 million.

    www.cnty.com/investor/financials/sec-filings/. The Company will also post a presentation of the second quarter results on its website at www.cnty.com/investor/presentations/.” data-reactid=”83″>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, 2020 on its website at www.cnty.com/investor/financials/sec-filings/. The Company will also post a presentation of the second quarter results on its website at www.cnty.com/investor/presentations/.

    centurycasinos.adobeconnect.com/earningsrelease or obtain a recording of the call on the Company’s website until August 31, 2020 at www.cnty.com/investor/financials/sec-filings/.” data-reactid=”84″>The Company will host its second quarter 2020 earnings conference call today, Friday, August 7, at 8:00 am MDT. U.S. domestic participants should dial 1-844-244-9160. For all international participants, please use 330-931-4670 to dial-in. Participants may listen to the call live at centurycasinos.adobeconnect.com/earningsrelease or obtain a recording of the call on the Company’s website until August 31, 2020 at www.cnty.com/investor/financials/sec-filings/.

     

    (continued)

    CENTURY CASINOS, INC. AND SUBSIDIARIES
    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

    2020

    2019

    2020

    2019

    Operating revenue:

    Net operating revenue

    $

    36,103

    $

    52,445

    $

    123,760

    $

    98,057

    Operating costs and expenses:

    Total operating costs and expenses

    38,217

    49,861

    157,647

    92,012

    Earnings (loss) from equity investment

    14

    0

    (1)

    (Loss) earnings from operations

    (2,114)

    2,598

    (33,887)

    6,044

    Non-operating income (expense), net

    (10,501)

    (870)

    (21,865)

    (1,877)

    (Loss) earnings before income taxes

    (12,615)

    1,728

    (55,752)

    4,167

    Income tax provision

    (582)

    (1,370)

    (3,106)

    (2,086)

    Net (loss) earnings

    (13,197)

    358

    (58,858)

    2,081

    Net loss (earnings) attributable to non-controlling interests

    590

    (923)

    395

    (1,578)

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

    $

    (12,607)

    $

    (565)

    $

    (58,463)

    $

    503

    (Loss) earnings per share attributable to Century Casinos, Inc. shareholders:

      Basic

    $

    (0.43)

    $

    (0.02)

    $

    (1.98)

    $

    0.02

      Diluted

    $

    (0.43)

    $

    (0.02)

    $

    (1.98)

    $

    0.02

    Weighted average common shares

      Basic

    29,576

    29,440

    29,541

    29,440

      Diluted

    29,576

    29,440

    29,541

    30,114

     

     

    Condensed Consolidated Balance Sheets

    June 30,

    December 31,

    Amounts in thousands

    2020

    2019

    Assets

    Current assets

    $

    72,501

    $

    79,366

    Property and equipment, net

    491,904

    503,933

    Other assets

    101,012

    143,601

    Total assets

    $

    665,417

    $

    726,900

    Liabilities and Equity

    Current liabilities

    $

    69,910

    $

    56,570

    Non-current liabilities

    489,911

    498,255

    Century Casinos, Inc. shareholders’ equity

    97,882

    163,306

    Non-controlling interests

    7,714

    8,769

    Total liabilities and equity

    $

    665,417

    $

    726,900

     

     

    CENTURY CASINOS, INC. AND SUBSIDIARIES

    SUPPLEMENTAL INFORMATION

    Constant Currency* Results (unaudited)

    For the three months

    For the six months

    ended June 30,

    ended June 30,

    Amounts in thousands

    2020

    2019

    %
    Change

    2020

    2019

    %
    Change

    Net operating revenue as reported (US GAAP)

    $

    36,103

    $

    52,445

    (31%)

    $

    123,760

    $

    98,057

    26%

    Foreign currency impact vs. 2019

    474

    989

    Net operating revenue constant currency (non-US GAAP)*

    $

    36,577

    $

    52,445

    (30%)

    $

    124,749

    $

    98,057

    27%

    (Loss) earnings from operations (US GAAP)

    $

    (2,114)

    $

    2,598

    (181%)

    $

    (33,887)

    $

    6,044

    (661%)

    Foreign currency impact vs. 2019

    540

    446

    (Loss) earnings from operations constant currency (non-US GAAP)*

    $

    (1,574)

    $

    2,598

    (161%)

    $

    (33,441)

    $

    6,044

    (653%)

    Net (loss) earnings attributable to Century Casinos, Inc. shareholders as reported (US GAAP)

    $

    (12,607)

    $

    (565)

    (2131%)

    $

    (58,463)

    $

    503

    (11723%)

    Foreign currency impact vs. 2019

    413

    159

    Net (loss) earnings attributable to Century Casinos, Inc. shareholders constant currency (non-US GAAP)*

    $

    (12,194)

    $

    (565)

    (2058%)

    $

    (58,304)

    $

    503

    (11691%)

     

    Gains and losses on foreign currency transactions are added back to net earnings in the Company’s Adjusted EBITDA** calculations. As such, there is no foreign currency impact to Adjusted EBITDA** when calculating Constant Currency* results.

    Adjusted EBITDA Margins *** (unaudited)

    For the three months

    For the six months

    ended June 30,

    ended June 30,

    2020

    2019

    2020

    2019

    United States

    9%

    25%

    14%

    24%

    Canada

    0%

    27%

    15%

    29%

    Poland

    (20%)

    10%

    (2%)

    11%

    Corporate and Other

    (1470%)

    (220%)

    (494%)

    (200%)

    Consolidated Adjusted EBITDA Margin

    (5%)

    13%

    6%

    14%

     

    CENTURY CASINOS, INC. AND SUBSIDIARIES

    SUPPLEMENTAL INFORMATION

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

    For the three months ended June 30, 2020

    Amounts in thousands

    United
    States

    Canada

    Poland

    Corporate
    and Other

    Total

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

    $

    (10,271)

    $

    (1,781)

    $

    (1,246)

    $

    691

    $

    (12,607)

    Interest expense (income), net (1)

    6,954

    435

    (14)

    3,204

    10,579

    Income (benefit) taxes

    (44)

    (292)

    918

    582

    Depreciation and amortization

    4,246

    1,289

    735

    135

    6,405

    Net earnings (loss) attributable to non-controlling interests

    34

    (624)

    (590)

    Non-cash stock-based compensation

    249

    249

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

    1,157

    135

    (25)

    (7,631)

    (6,364)

    (Gain) on disposition of fixed assets

    (69)

    (69)

    Acquisition costs

    53

    53

    Adjusted EBITDA

    $

    2,086

    $

    (1)

    $

    (1,466)

    $

    (2,381)

    $

    (1,762)

    (1)

    Expense of $7.0 million related to the Master Lease is included in interest expense (income), net in the United States segment. Expense of $0.4 million related to the CDR land lease is included in interest expense (income), net in the Canada segment. Cash payments related to the Master Lease and CDR land lease were $4.2 million and $0.4 million, respectively, for the period presented.

     

     

    For the three months ended June 30, 2019

    Amounts in thousands

    United
    States

    Canada

    Poland

    Corporate
    and Other

    Total

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

    $

    1,236

    $

    2,536

    $

    425

    $

    (4,762)

    $

    (565)

    Interest expense (income), net (1)

    1,320

    45

    28

    1,393

    Income taxes (benefit)

    406

    778

    416

    (230)

    1,370

    Depreciation and amortization

    527

    1,059

    716

    141

    2,443

    Net earnings attributable to non-controlling interests

    681

    213

    29

    923

    Non-cash stock-based compensation

    359

    359

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

    (432)

    (78)

    5

    (505)

    Loss on disposition of fixed assets

    1

    2

    248

    272

    523

    Acquisition costs

    768

    768

    Adjusted EBITDA

    $

    2,170

    $

    5,944

    $

    1,985

    $

    (3,390)

    $

    6,709

    (1)

    Expense of $0.6 million related to the CDR land lease is included in interest expense (income), net in the Canada segment. Cash payments related to the CDR land lease were $0.5 million for the period presented.

     

     

    CENTURY CASINOS, INC. AND SUBSIDIARIES

    SUPPLEMENTAL INFORMATION

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

    For the six months ended June 30, 2020

    Amounts in thousands

    United
    States

    Canada

    Poland

    Corporate
    and Other

    Total

    Net loss attributable to Century Casinos, Inc. shareholders

    $

    (43,659)

    $

    (5,987)

    $

    (1,218)

    $

    (7,599)

    $

    (58,463)

    Interest expense (income), net (1)

    14,235

    979

    17

    6,713

    21,944

    Income taxes (benefit)

    1,023

    1,813

    (247)

    517

    3,106

    Depreciation and amortization

    8,505

    2,628

    1,501

    265

    12,899

    Net earnings (loss) attributable to non-controlling interests

    214

    (609)

    (395)

    Non-cash stock-based compensation

    236

    236

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

    30,746

    3,447

    147

    (6,046)

    28,294

    (Gain) loss on disposition of fixed assets

    (69)

    2

    2

    (65)

    Acquisition costs

    266

    266

    Adjusted EBITDA

    $

    10,850

    $

    3,025

    $

    (407)

    $

    (5,646)

    $

    7,822

    (1)

    Expense of $14.2 million related to the Master Lease is included in interest expense (income), net in the United States segment. Expense of $0.9 million related to the CDR land lease is included in interest expense (income), net in the Canada segment. Cash payments related to the Master Lease and CDR land lease were $10.4 million and $0.9 million, respectively, for the period presented.

     

     

    CENTURY CASINOS, INC. AND SUBSIDIARIES

    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, 2019

    Amounts in thousands

    United
    States

    Canada

    Poland

    Corporate
    and Other

    Total

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

    $

    2,215

    $

    4,085

    $

    1,339

    $

    (7,136)

    $

    503

    Interest expense (income), net (1)

    2,511

    91

    45

    2,647

    Income taxes (benefit)

    764

    1,542

    876

    (1,096)

    2,086

    Depreciation and amortization

    1,086

    1,856

    1,487

    439

    4,868

    Net earnings (loss) attributable to non-controlling interests

    921

    669

    (12)

    1,578

    Non-cash stock-based compensation

    620

    620

    Gain on foreign currency transactions and cost recovery income

    (476)

    (280)

    (7)

    (763)

    Loss (gain) on disposition of fixed assets

    17

    (3)

    253

    300

    567

    Acquisition costs

    768

    768

    Pre-opening expenses

    538

    538

    Adjusted EBITDA

    $

    4,082

    $

    10,974

    $

    4,435

    $

    (6,079)

    $

    13,412

    (1)

    Expense of $1.1 million related to the CDR land lease is included in interest expense (income), net in the Canada segment. Cash payments related to the CDR land lease were $1.0 million for the period presented.

     

    June 30, 2020. Constant currency information is not a measure of financial performance under generally accepted accounting principles in the United States of America (US GAAP) and should not be considered a substitute for net operating revenue, earnings from operations or net earnings (loss) attributable to Century Casinos, Inc. shareholders as determined in accordance with US GAAP.

    Cripple Creek and Central City, Colorado, and in Edmonton, Alberta, Canada; the Century Casino in Cape Girardeau and Caruthersville, Missouri, in Calgary and St. Albert, Alberta, Canada; Mountaineer Casino, Racetrack & Resort in New Cumberland, West Virginia; the Century Mile Racetrack and Casino (“CMR”) in Edmonton, Alberta, Canada; and Century Bets! Inc. (“CBS”). CBS and CMR operate the pari-mutuel off-track horse betting networks in southern and northern Alberta, respectively. 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 Century Downs Racetrack and Casino in Calgary, Alberta, Canada. The Company operates one ship-based casino. The Company, through CRM, also owns a 7.5% interest in, and provides consulting services to, Mendoza Central Entretenimientos S.A., a company that provides gaming-related services to Casino de Mendoza in Mendoza, Argentina. 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.

    www.cnty.com.” data-reactid=”135″>For more information about Century Casinos, visit our website at www.cnty.com.

    December 31, 2019, in Item 8.01 of our Form 8-K filed with the SEC on May 8, 2020, 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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    SOURCE Century Casinos, Inc.

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