Century Casinos Reports Record Earnings Amid Challenges

Century Casinos ((CNTY)) has held its Q2 earnings call. Read on for the main highlights of the call.

Century Casinos’ recent earnings call conveyed a generally positive sentiment, reflecting strong financial performance with record revenue and EBITDAR. The company highlighted successful partnerships and positive cash flow developments. However, challenges in Nevada and adverse weather effects slightly tempered the overall positive trend.

Record-Breaking Revenue and EBITDAR

Century Casinos reported all-time record revenues for the second quarter at $150.8 million, with EBITDAR reaching $30.3 million. This marks a 50% sequential increase and a 10% increase over the same quarter last year, showcasing the company’s robust financial health.

Successful Partnerships and Expansions

The company announced a strategic partnership with BetMGM for online and mobile sports betting in Missouri, set to launch in December 2025. Additionally, the new Caruthersville property reported a 26% increase in net operating revenue and a 31% increase in EBITDAR since its opening, indicating successful expansion efforts.

Strong Performance in Poland

Century Casinos experienced a significant boost in Poland, with total revenue growing 23% year-over-year. This resulted in a remarkable 306% increase in EBITDAR from $0.5 million in Q2 2024 to $1.8 million in Q2 2025, highlighting the region’s strong contribution to the company’s financial success.

Positive Cash Flow and Debt Management

The company turned cash flow positive, ending the second quarter with $85.5 million in cash and cash equivalents. They also improved their net debt-to-EBITDA ratio from 6.9x to 6.2x, reflecting effective debt management and financial stability.

Challenges in Nevada

Despite positive growth in most regions, Century Casinos faced challenges in the Nevada market, which did not contribute to the overall positive growth trend, indicating potential areas for improvement.

Weather Disruptions Affecting Performance

Severe storms and tornado activity negatively impacted the Cape Girardeau property, with a total of nine affected days leading to a slight decrease in gaming revenue, showcasing the vulnerability of operations to weather conditions.

Decline in Concert Events at Nugget Casino Resort

The Nugget Casino Resort experienced a decrease in EBITDAR due to disappointing concert ticket sales, which adversely affected gaming, food, beverage, and hotel revenues, highlighting the impact of entertainment events on overall performance.

Forward-Looking Guidance

Looking ahead, Century Casinos expects continued strong performance, driven by record second-quarter revenues and strategic partnerships. The company anticipates significant contributions from the BetMGM partnership in 2026 and is undergoing a strategic review of its operations, capital structure, and growth options with the assistance of Macquarie Capital and Faegre Drinker.

In conclusion, Century Casinos’ earnings call painted a picture of strong financial performance, with record-breaking revenues and successful strategic partnerships. While challenges in Nevada and weather disruptions posed some setbacks, the company’s forward-looking guidance suggests optimism for continued growth and expansion.