Century Casinos Q2: Revenue up 3% to $150.8m, net loss at $12.3m

Key points:

– Almost all of the net loss attributable to shareholders came from Corporate and Other

– An additional licence for Wroclaw was granted, while one for Warsaw was not

– The company is still focusing on upcoming operations in Missouri

Century Casinos has published its financial results for the period ending 30 June, 2025.

Revenue improved 3% year-on-year this quarter to $150.8m, which was primarily boosted through Poland and the US.

When looking at the different jurisdictions Century Casinos operates in, the US came in with the highest overall revenue of $106.1m, but this is almost identical to the $106.5m figure from last year.

Poland was the second highest, with 23% growth translating to $24.7m, while Canada came in last with $20m and 1% in growth.

Earnings from operations increased 16% to $16.6m.

While net loss attributable to Century Casinos shareholders was still in the red, the $12.3m figure was a 70% improvement from last year’s $41.6m.

Poland, once again, came on top with net earnings of $245,000 which was a 713% improvement.

However, this would not be enough to offset the 41% dip from Canadian net earnings down to $599,000.

Finally, the US saw a 98% improvement which almost took the segment into the green with a net loss of $487,000.

However, there was a $12.7m net loss in Corporate and Other, which offset any profit from the above.

Century Casinos has brought on Faegre Drinker Biddle & Reath LLP as legal counsel and Macquarie Capital as financial advisor as the operator begins a strategic review process of operations.

The report explained: “The review will explore a range of potential strategic alternatives for the Company’s assets and businesses aimed at enhancing shareholder value and supporting long-term growth.

“These alternatives may include opportunities to unlock value within our existing property portfolio, optimise the Company’s capital structure, evaluate potential mergers, strategic partnerships, or the sale of the Company, and to analyse potential divestments of assets or other asset-level transactions.”

This will come to no surprise to shareholders, who have been vocal about stock underperformance since Q4 2024.

Good to know: Century Casinos currently operates seven properties in the US; four in Canada; and has a 66.6% stake in Casinos Poland, which has six properties

Also during this quarter, Century Casinos partnered with BetMGM to prepare for online sports betting in Missouri, which is expected to launch in Q4 2025.

Also in Missouri, Century Casinos reports that its recently opened casino in Caruthersville has seen net operating revenue and Adjusted EBITDAR increase by 26% and 31% respectively.

Finally, Century was awarded another licence to open a second casino in Wroclaw in Q4 2025.

However, in June 2025, the company was also notified that its second licence for Warsaw had been rejected and thus closed operations at the Hilton Hotel. The current casino at The Presidential Hotel will continue with its licence that runs until 2028.

Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos, said: “We are proud of the strength and momentum we have built across our portfolio, which has shown solid year-over-year growth and generated positive cash flow in the quarter.

“Following various inquiries from third parties about potential asset sales and strategic partnerships, we have initiated a strategic review process as part of our ongoing commitment to driving long-term value creation and optimising our portfolio of assets and operations.”