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Results through Q2 2026 INVESTOR PRESENTATION Peter Hoetzinger , Co CEO & President 茶 CENTURY CASINOS ROCKY GAP 、 CASINO RESORT GOLF
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FORWARD-LOOKING STATEMENTS This presentation may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Century Casinos, Inc. (together with its subsidiaries, the “Company”, “we”, “us”, “our”) may make other written and oral communications from time to time that contain such statements. Forward-looking statements include statements as to industry trends and future expectations of the Company and other matters that do not relate strictly to historical facts and are based on certain assumptions by management at the time such statements are made. Forward-looking statements in this presentation include statements regarding the potential for our portfolio of casinos, the strategic review process and the potential sale of our Poland operations, projects in development and other opportunities, the Goldman Credit Agreement (as defined herein) and obligations under our Master Lease (as defined herein) with subsidiaries of VICI Properties Inc. (“VICI”) and our ability to repay our debt and other obligations, outcomes of legal proceedings, changes in our tax provisions or exposure to additional income tax liabilities, impairments and plans for our casinos and our Company including estimates, improved performance at the Nugget and in Poland, and other estimates,forecasts and expectations regarding 2026 and later results, and any other statements that are not purely historical. These statements are often identified by the use of words such as “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “could,” “estimate,” “forecast,” or “continue,” and similar expressions or variations. These statements are based on the beliefs and assumptions of the management of the Company based on information currently available to management. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from the forward-looking statements include, among others, the risks described in the section entitled “Risk Factors” under Item 1A of Part 1 of our Annual Report on Form 10-K for the year ended December 31, 2025 and our Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 and in subsequent periodic and current reports filed with the SEC. We caution the reader to carefully consider such factors. Furthermore, such forward-looking statements speak only as of the date on which such statements are made. We undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements. For additional information about the Company’s Canada and Poland reportable segments, please see our Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 filed with the SEC. TERMS AND DEFINITIONS Certain terms and definitions are used in this presentation. A list of these terms and definitions is contained in the Appendix. In addition, the names of the Company’s subsidiaries and certain operating segments, some of which have changed, are abbreviated on certain of the following slides. See Appendix for a list of the subsidiaries and their abbreviations. 1
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NORTH AMERICAN1 GROWTH • Growth for the three and six months ended June 30, 2026 compared to June 30, 2025 • Net operating revenue grew $6.0M, or 5%, and $12.3M, or 5%, respectively • Adjusted EBITDAR2 grew $3.8M, or 12%, and $8.9M, or 17%, respectively EBITDAR IMPROVEMENT DRIVEN BY RECENT INVESTMENTS • 2023-2025 represented an investment period for the Company • Acquisition of the Nugget and Rocky Gap finalized in 2023 • Growth capital expenditure projects undertaken, including a casino expansion and two hotels built in Missouri • Century is beginning to see the future potential of these projects in 2026 after three years of construction disruptions and challenges integrating new properties into its portfolio FREE CASH FLOW • Free cash flow3 expected to improve with Adjusted EBITDAR2 growth and no large capital expenditure projects anticipated in the near term 1. Includes the East, Midwest, West and Canada reportable segments 2. Adjusted EBITDAR is a non-US GAAP financial measure. See Appendix for the definition and reconciliation of Adjusted EBITDAR. 3. Free cash flow is defined as cash flow from operations less capital expenditures. INVESTMENT HIGHLIGHTS 2
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REGIONAL GAMING PLATFORM • Balanced portfolio of casino resorts and locals-driven properties delivering diversified cash flow • Protected position in attractive North American regional gaming markets with limited new competition and entrenched local market share • Focus on drive-to US markets; majority of revenue is generated from guests residing within a one-hour drive from the casinos • Proximity to casinos creates the opportunity for repeat local customers, stable demand and tailored marketing, creating a more predictable revenue base • Limited reliance on destination tourism BUSINESS MODEL 3
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NORTH AMERICAN PROPERTY FOOTPRINT 4As of June 30, 2026. 11 Properties In the USA (Nevada, Colorado (2), Missouri (2), West Virginia and Maryland) and Canada (Alberta) (4). 2,153 Hotel Rooms Across eight casino hotel/resort properties. 7,041 Slot Machines & 127 Table Games Offering popular and exciting slot machines and the latest in gaming experiences. Exciting Amenities 28 restaurants, two golf courses, three horse racetracks, and numerous outdoor and indoor event and meeting spaces, retail sports and race books.
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NEAR TERM FINANCIAL UPSIDE FROM RECENT TRANSFORMATIONAL INITIATIVES • Caruthersville ramp-up • Missouri sports betting • Operational improvements across portfolio EXPECTED GROWTH DRIVERS 51. For the six months ended June 30, 2026. 2. Adjusted EBITDAR is a non-US GAAP financial measure. See Appendix for the definition of Adjusted EBITDAR. East, 7% Midwest, 12% West, 93% Canada, 17% Poland, -78% -100% -80% -60% -40% -20% 0% 20% 40% 60% 80% 100% 120% Year-to-Date1 Adjusted EBITDAR2 Growth by Reportable Segment
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RESULTS U.S. OPERATIONS East, Midwest and West Regions 6
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EAST REGION MARKET Overview - West Virginia Property information as of June 30, 2026. 1. Sources: UNLV Gaming Research. 2. Assumes no additional racetracks open in the state. 7 POINTS OF DIFFERENTIATION MOUNTAINEER CASINO, RESORT & RACES MARKET DYNAMICS AND DEMOGRAPHICS • Represents the only full-service resort and casino in the immediate vicinity. • Includes world-class thoroughbred racing, an 18- hole golf course and 800-seat ballroom. • Location provides easy access from feeder markets in eastern Ohio, Pennsylvania (particularly Pittsburgh) and West Virginia. • Provides full complement of services including sports betting and iGaming (available via William Hill / Caesars and Rush Street Interactive). • Located on the Ohio River in the northern panhandle of West Virginia along Route 2, near Chester, WV. Casino sq. ft. 66,152 Tables 31 Hotel Rooms 357 Slot Machines 1,012 • West Virginia was an early adopter of internet gaming (5 th state in the US). • The gaming market in West Virginia has expanded substantially, with 63% growth from 2019 to 2025. 1 • Maximum of five gaming licenses; no additional licenses allowed. 2
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EAST REGION MARKET Overview - Maryland Property information as of June 30, 2026. 1. Sources: Maryland Department of Labor and NAIOP Commercial Real Estate Development Association 8 POINTS OF DIFFERENTIATION ROCKY GAP CASINO, RESORT & GOLF MARKET DYNAMICS AND DEMOGRAPHICS • Full-service casino resort with Jack Nicklaus Signature golf course, large events center, spa, pool and outdoor activities (including beach access). • Only casino resort in Western Maryland, attracting local and destination drive-in customers from Maryland, Pennsylvania, Washington DC, West Virginia, and Virginia. • Renovations since 2018 include remodeled rooms and suites, new sports lounge, food and beverage offerings upgrade, golf course improvements and beach access. • Features a wide variety of casual and fine dining options in addition to several on-site bars and lounges. • Located against a picturesque outdoor backdrop in Rocky Gap State Park. • Maryland’s labor market is strong with an unemployment rate of 4.2% at YE2025 vs. 4.4% nationally, supported by private sector job growth. 1 • Companies including Gilead, Amazon, Black & Decker and Mitsubishi are investing in new manufacturing and logistics facilities in the region. • Located in the central Appalachians, Western Maryland offers scenic landscapes and large freshwater lakes for a great year-round, getaway destination. Casino sq. ft. 25,447 Tables 12 Hotel Rooms 198 Slot Machines 630
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38.5 45.1 47.1 41.0 37.1 44.6 47.8 40.038.9 43.6 0.0 10.0 20.0 30.0 40.0 50.0 60.0 Q1 Q2 Q3 Q4 Net Operating Revenue 2024 2025 2026 4.8 7.6 8.9 5.7 4.2 7.9 9.2 5.9 5.4 7.7 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10.0 Q1 Q2 Q3 Q4 Adjusted EBITDAR2 2024 2025 2026 West Virginia and Maryland 1. In USD, $ millions. Amounts presented are rounded. As such, rounding differences could occur. 2. Adjusted EBITDAR is a non-US GAAP financial measure. See Appendix for the definition and reconciliation of Adjusted EBITDAR. 9 EAST REGION RESULTS1 27.0 27.3 28.2 0.0 5.0 10.0 15.0 20.0 25.0 30.0 2024A 2025A TTM 2026 Adjusted EBITDAR2 171.6 169.5 170.3 50.0 70.0 90.0 110.0 130.0 150.0 170.0 190.0 2024A 2025A TTM 2026 Net Operating Revenue
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MIDWEST REGION MARKET Overview - Colorado Property information as of June 30, 2026. 1. Sources: MacroTrends, "Colorado Population 1900-2026”; Federal Reserve Bank of St. Louis, "Economic Data”; and United States Census Bureau. 10 CENTURY CASINO & HOTEL CENTRAL CITY MARKET DYNAMICS AND DEMOGRAPHICS • Strategically located in close proximity to Denver, Colorado (Central City ~35 miles away) and Colorado Springs (Cripple Creek ~45 miles away). • State-of-the art slot machines. • Online sports betting through bet365 partnership. • Denver and Colorado Springs MSAs, both exhibiting strong demographic and economic trends. • Colorado population growth 0.9% (2024 – 2025) compared to national rate of 0.5%.1 • Colorado 2024 median household income $106,500 compared to national average of $83,730. 1 • Betting limit increase and online gaming have been in effect for several years. Historically strong GGR trends with strong upside. CENTURY CASINO & HOTEL CRIPPLE CREEK Casino sq. ft. 19,610 21 Hotel RoomsSlot Machines 377 POINTS OF DIFFERENTIATION Casino sq. ft. 22,640 26 Hotel RoomsSlot Machines 408
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MIDWEST REGION MARKET Overview - Missouri Property information as of June 30, 2026. 1. Source: American Gaming Association. 11 POINTS OF DIFFERENTIATION CENTURY CASINO & HOTEL CAPE GIRARDEAU & THE RIVERVIEW MARKET DYNAMICS AND DEMOGRAPHICS • Cape Girardeau and Caruthersville are both local, drive-to markets with loyal customer bases. • Completion of recent construction provides meaningful performance improvements. • Cape Girardeau opened 69 room hotel adjacent to and connected with the casino in April 2024. • Caruthersville opened the new land-based casino and hotel on November 1, 2024. • Cape Girardeau includes a ~7,700 square foot entertainment & event center with seating for up to 600. • Caruthersville adjacent stand-alone hotel opened in late October 2022. • Missouri is one of the largest regional gaming markets with ~$2.1 billion of gaming revenue in 2025, having grown >20% since 2019. 1 • Missouri has strong macroeconomic drivers, including employment growth and a diverse economy. • Sports betting launched on December 1, 2025. CENTURY CASINO & HOTEL CARUTHERSVILLE & THE FARMSTEAD Casino sq. ft. 45,536 Tables 23 Hotel Rooms 69 Slot Machines 799 Casino sq. ft. 27,000 Tables 7 Hotel Rooms 74 Slot Machines 577
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39.2 40.6 40.8 39.939.8 41.4 42.0 40.841.8 44.7 0.0 5.0 10.0 15.0 20.0 25.0 30.0 35.0 40.0 45.0 50.0 Q1 Q2 Q3 Q4 Net Operating Revenue 2024 2025 2026 14.4 14.6 14.5 13.613.4 15.5 15.2 14.2 15.6 16.7 0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 18.0 Q1 Q2 Q3 Q4 Adjusted EBITDAR2 2024 2025 2026 Colorado and Missouri 1. In USD, $ millions. Amounts presented are rounded. As such, rounding differences could occur. 2. Adjusted EBITDAR is a non-US GAAP financial measure. See Appendix for the definition and reconciliation of Adjusted EBITDAR. 12 MIDWEST REGION RESULTS1 57.1 58.4 61.8 0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0 2024A 2025A TTM 2026 Adjusted EBITDAR2 160.5 163.8 169.2 50.0 70.0 90.0 110.0 130.0 150.0 170.0 190.0 2024A 2025A TTM 2026 Net Operating Revenue
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WEST REGION MARKET Overview - Nevada Property information as of June 30, 2026. 1. Source: Reno.gov, U.S. Bureau of Labor Statistics, Washoe County Consensus Forecast 2022-2042, Industry Research. 13 POINTS OF DIFFERENTIATION NUGGET CASINO RESORT MARKET DYNAMICS AND DEMOGRAPHICS • Full-service resort conveniently located on Route I-80 with easy access from the airport. • Reno-Sparks is a top 15 gaming market in the U.S. • Nugget has one of the largest conference centers in Reno in addition to state-of-the-art 8,555-seat outdoor venue. • Resort boasts large gaming floor, two hotel towers, a convention space, outdoor theater, and a wide variety of casual and fine dining options in addition to several on-site bars and lounges. • Located in Reno-Sparks, Nevada (aka the “Biggest Little City in the World”). • Reno is famous for its casinos and as a destination for outdoor recreation and proximity to Lake Tahoe and several ski resorts. • Population crossed 500,000 (20% growth from 2010 to 2024 vs. national average of 11%, with an additional 4%+ growth since 2020). 1 • The Reno-Tahoe airport is expanding the ticket hall, shopping and ground transportation center and adding new concourses ($1B “MoreRNO” project). Casino sq. ft. 72,100 Tables 21 Hotel Rooms 1,382 Slot Machines 842
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18.4 20.8 29.2 19.1 16.4 20.2 25.2 17.717.1 23.4 0.0 5.0 10.0 15.0 20.0 25.0 30.0 35.0 Q1 Q2 Q3 Q4 Net Operating Revenue 2024 2025 2026 0.0 2.9 5.8 1.1 0.7 2.3 4.7 1.31.4 4.5 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 Q1 Q2 Q3 Q4 Adjusted EBITDAR2 2024 2025 2026 Nevada 1. In USD, $ millions. Amounts presented are rounded. As such, rounding differences could occur. 2. Adjusted EBITDAR is a non-US GAAP financial measure. See Appendix for the definition and reconciliation of Adjusted EBITDAR. 14 WEST REGION RESULTS1 9.7 9.1 11.9 0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 2024A 2025A TTM 2026 Adjusted EBITDAR2 87.5 79.6 83.4 50.0 55.0 60.0 65.0 70.0 75.0 80.0 85.0 90.0 2024A 2025A TTM 2026 Net Operating Revenue
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CONSOLIDATED RESULTS 15
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136.0 146.4 155.7 137.8 130.4 150.8 153.7 138.0137.2 152.0 115.0 120.0 125.0 130.0 135.0 140.0 145.0 150.0 155.0 160.0 Q1 Q2 Q3 Q4 NET OPERATING REVENUE 2024 2025 2026 US East: 30% US Midwest: 29% US West: 15% Canada: 13% Poland: 13% CURRENT QUARTER RESULTS 2 2024 – 2026 Quarterly Results 1 CNTY RESULTS 161. In USD, $ millions. 2. Graphs represent second quarter 2026 percentage contributions by reportable segment. Results exclude certain other corporate and management operations that are not included in our reportable segments.
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21.3 27.4 32.9 21.1 20.2 30.3 31.1 23.9 24.9 31.7 0.0 5.0 10.0 15.0 20.0 25.0 30.0 35.0 Q1 Q2 Q3 Q4 ADJUSTED EBITDAR 2 2024 2025 2026 US East: 22% US Midwest: 47% US West: 13% Canada: 18% Poland: 0% CURRENT QUARTER RESULTS 3 2024 – 2026 Quarterly Results 1 CNTY RESULTS 17 1. In USD, $ millions. 2. Adjusted EBITDAR is a non-US GAAP financial measure. See Appendix for the definition and reconciliation of Adjusted EBITDAR. 3. Graphs represent second quarter 2026 percentage contributions by reportable segment. Results exclude certain other corporate and management operations that are not included in our reportable segments.
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UPSIDE GROWTH Focus on growth projects between 2022-2025 to provide the opportunity for strong revenue and margin growth. Incremental Adjusted EBITDAR 1 growth reduces leverage and improves equity. DEBT REDUCTION As liquidity improves, the Company will look for opportunities to reduce its debt balances. The Company repurchased approximately $3.5 million principal amount of the Goldman Term Loan for 97% of its value in February 2024. RENT VICI rent escalates annually. Escalator is greater of 1.25% or CPI. In Canada, the maximum escalator is fixed at 2.5% KEY DRIVERS AND FACTORS 181. Adjusted EBITDAR is a non-US GAAP financial measure. See Appendix for the definition of Adjusted EBITDAR.
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in USD, $ millions Cash 60.2 Total Principal Debt 1 336.5 Net Debt 1 276.3 TTM 2026 Adjusted EBITDAR 1 111.5 TTM 2026 Rent Payments 1,6 73.3 As of June 30, 2026 BALANCE SHEET AND LEVERAGE 1. Net Debt, Net Debt Leverage, Adjusted EBITDAR and Adjusted Net Debt Leverage are non-US GAAP financial measures. See Appendix for: (1) the definition and reconciliation of Adjusted EBITDAR, (2) the definition and calculation of Rent Payments, Net Debt, Net Debt Leverage, Adjusted Net Debt Leverage and Lease Adjusted Net Leverage, and (3) the definition o f Total Principal Debt and Lease Debt. 2. Net Debt Leverage is calculated as Net Debt divided by trailing twelve-month Adjusted EBITDAR minus trailing twelve-month Rent Payments. 3. Adjusted Net Debt Leverage is calculated as Net Debt plus cash in casinos divided by trailing twelve-month Adjusted EBITDAR minu s trailing twelve-month Rent Payments. 4. If the Company has aggregate outstanding revolving loans, swingline loans and letters of credit greater than $10.5 million as of the last day of any fiscal quarter, it is required to maintain a Consolidated First Lien Net Leverage Ratio of 5.50 to 1.00 or less for such fiscal quarter. As of June 30, 2026, the Consolidated First Lien Net Leverage Ratio exceeded 5. 50 to 1.00, but the Company had no outstanding revolving loans, swingline loans or letters of credit under the Goldman Credit Agreement. The First Lien Net Leverage Ratio calculation includes certain adjustments not included in the calc ulation of Adjusted Net Debt Leverage Ratio shown in this presentation. See Appendix for more information. 5. Lease Adjusted Net Leverage is calculated as Lease Debt plus Net Debt divided by trailing twelve-month Adjusted EBITDAR. 6. Rent Payments include $4.3 million in deferred rent related to the Caruthersville project. 19 7.2X Net Debt Leverage 1,2 8.2X Adjusted Net Debt Leverage 1,3 (Max First Lien Net Leverage Ratio 5.5X)4 7.7X Lease Adjusted Net Leverage 1,5 Ratio includes $4.3M in deferred rent, without such amount the ratio would be 7.4X. Anticipate Lease Adjusted Net Leverage to trend towards approximately 7.3X (7.1X without deferred rent) by the end of 2026. Ratio includes $4.3M in deferred rent, without such amount the ratio would be 6.5X. Anticipate Net Debt Leverage to trend towards approximately 6.2X (5.7X without deferred rent) by the end of 2026. Ratio includes $4.3M in deferred rent, without such amount the ratio would be 7.4X. Anticipate Adjusted Net Debt Leverage to trend towards approximately 6.9X (6.4X without deferred rent) by the end of 2026.
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CAPITAL EXPENDITURES Approximately $14.0M to $15.4M primarily in maintenance capital expenditures. Capital expenditures were $22.0M in 2025. CASH RENT Approximately $71.8M related to the Master Lease and Nugget Lease, plus an additional $3.5M of deferred rent for the Caruthersville Project. 2025 Rent Payments were $66.4M. DEBT AND CASH INTEREST Approximately $4.2M scheduled1 principal payments on our long-term debt and finance leases. Approximately $32.4M - $34.0M of gross cash interest. Term Loan matures April 2029 and $30M revolving facility (currently undrawn) terminates April 2027. Scheduled principal payments were $5.4M 2 and cash interest was $36.9M on our long-term debt and finance leases through 2025, offset by $1.3M in interest income. KEY FINANCIAL FORECASTS FOR 2026 20 Estimates subject to change. 1. Excludes $3.9 million of long-term debt at CPL outstanding as of June 30, 2026. CPL’s long-term debt is a short-term line of credit with no scheduled principal payments. 2. Excludes $0.9 million payments on CPL’s short term line of credit.
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• Engaged Faegre Drinker as legal counsel and Macquarie Capital as financial advisor • No commitments or decisions have been made and there can be no assurance that the review will result in any transaction or particular change to our business • The Company does not intend to make further public comments on the process unless and until it determines that further disclosure is appropriate or necessary • Alternatives may include opportunities to: • unlock value within our existing property portfolio • optimize the Company’s capital structure • analyze potential divestments of assets or other asset-level transactions, and • evaluate potential mergers, strategic partnerships, or the sale of the Company STRATEGIC REVIEW PROCESS 21 • Initiated comprehensive strategic review process of operations, capital structure and strategic growth options • Received various inquiries from third parties about potential asset sales and strategic partnerships • Part of our ongoing commitment to driving long-term value creation • Will explore a range of potential strategic alternatives for our assets and businesses aimed at enhancing shareholder value and supporting long-term growth
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Century Casinos investment provides upside through: RECENT INVESTMENTS ENTERING CONTRIBUTION PHASE • 2023 acquisitions of Nugget and Rocky Gap complete with both properties expected to contribute to growth in 2026 • Continued growth in the Midwest segment • Missouri sports betting contributing to growth in Cape Girardeau with minimum guaranteed revenue through partnership with BetMGM • Caruthersville casino continues to produce revenue growth after November 2024 opening • Investments in recent years are now contributing to Adjusted EBITDAR growth NET DEBT LEVERAGE RATIO IMPROVEMENT POTENTIAL • Adjusted EBITDAR growth expected to improve the net debt leverage ratio of Century after three years of leverage increases due to investment activity CONCLUSION 22
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APPENDIX 23
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US East: 17% US Midwest: 58% US West: 5% Canada: 23% Poland: -3% Earnings (Loss) from Operations US East: -93% US Midwest: 196% US West: -23% Canada: 37% Poland: -17% Net Earnings (Loss) Attributable to Century Casinos, Inc. Shareholders APPENDIX In USD, $ millions. 1. Graphs represent percentage contributions by reportable segment. Results exclude certain other corporate and management operations that are not included in our reportable segments 24 Additional Results by Reportable Segment Q2 2026 1
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Name Abbreviation Reportable and Operating Segment Mountaineer Casino, Resort & Races MTR or Mountaineer US East Rocky Gap Casino, Resort & Golf ROK or Rocky Gap US East Century Casino & Hotel Cape Girardeau & The Riverview CCG or Cape Girardeau US Midwest Century Casino & Hotel Caruthersville & The Farmstead CCV or Caruthersville US Midwest Century Casino & Hotel Central City CTL or Central City US Midwest Century Casino & Hotel Cripple Creek CRC or Cripple Creek US Midwest Nugget Casino Resort NUG, Nugget Sparks, LLC or Nugget US West Smooth Bourbon, LLC SMB or Smooth Bourbon US West Century Casino & Hotel Edmonton CRA or Edmonton Canada Century Casino St. Albert CSA or St. Albert Canada Century Downs Racetrack and Casino CDR or Century Downs Canada Century Mile Racetrack and Casino CMR or Century Mile Canada Casinos Poland CPL or Casinos Poland Poland Other Abbreviation Defined As Century Resorts Management GmbH CRM Corporate and Other Corporate and Other N/A Corporate and Other Abbreviations of Century Casinos, Inc. Subsidiaries and Certain Reporting Units APPENDIX 25
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Terms and Definitions • In this presentation, the term “USD” refers to US dollars, the term “CAD” refers to Canadian dollars and the term “PLN” refers to Polish zloty. Amounts presented are rounded. As such, rounding differences could occur in period-over-period changes and percentages reported throughout this presentation. • Adjusted EBITDAR, Adjusted EBITDAR Margin, Adjusted Net Debt Leverage, Net Debt, Net Debt Leverage, Lease Debt and Lease Adjusted Net Leverage are non-US GAAP financial measures. See Appendix “non-US GAAP Financial Measures” for the definition and reconciliation of these measures. • “Caruthersville Project” refers to the new land-based casino with a 38-room hotel adjacent to and connected with the existing casino pavilion building that the Company built in Caruthersville, Missouri. The Company financed the project through financing provided by VICI. The casino and hotel opened on November 1, 2024. • “Goldman Credit Agreement” means a credit agreement with Goldman Sachs Bank USA and other parties that provides for a $350.0 million term loan and a $30.0 million revolving credit facility (“Revolving Facility”). The Goldman Credit Agreement contains customary representations and warranties, affirmative, negative and financial covenants, and events of default. All future borrowings under the Goldman Credit Agreement are subject to the satisfaction of customary conditions, including the absence of a default and the accuracy of representations and warranties. If the Company has aggregate outstanding revolving loans, swingline loans and letters of credit greater than $10.5 million as of the last day of any fiscal quarter, it is required to maintain a Consolidated First Lien Net Leverage Ratio of 5.50 to 1.00 or less for such fiscal quarter. As of June 30, 2026, the Consolidated First Lien Net Leverage Ratio exceeded 5.50 to 1.00, but the Company had no outstanding revolving loans, swingline loans or letters of credit under the Goldman Credit Agreement. • “Master Lease” means the Company’s master lease of its Missouri, West Virginia, Maryland and Canada properties with subsidiaries of VICI. • “Rent Payments” refer to cash payments related to the Company’s Master Lease and 50% of the lease payments from Nugget to Smooth Bourbon. • “Total Principal Debt” is calculated as total long-term debt, including current portion plus deferred financing costs. APPENDIX 26
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• The Company supplements its consolidated financial statements prepared in accordance with US generally accepted accounting principles (“GAAP”) by using the following non-US GAAP financial measures, which management believes are useful in properly understanding the Company’s short-term and long-term financial trends. Management uses these non-US GAAP financial measures to forecast and evaluate the operational performance of the Company as well as to compare results of current periods to prior periods on a consolidated basis. • Adjusted EBITDAR, Adjusted EBITDAR Margin, Net Debt, Net Debt Leverage, Lease Debt, Lease Adjusted Net Leverage, and Adjusted Net Debt Leverage. • Management believes presenting the non-US GAAP financial measures used in this presentation provides investors greater transparency to the information used by management for financial and operational decision-making and allows investors to see the Company’s results “through the eyes” of management. Management also believes providing this information better enables our investors to understand the Company’s operating performance and evaluate the methodology used by management to evaluate and measure such performance. With respect to the Company’s expectations of its future performance, the Company’s reconciliations of estimated Adjusted EBITDAR impact of growth initiatives are not available as the Company is unable to quantify certain amounts to the degree of precision that would be required in the relevant US GAAP measures without unreasonable effort. • The adjustments made to GAAP financial measures result from facts and circumstances that vary in frequency and impact on the Company’s results of operations. The following is an explanation of each of the adjustments that management excludes in calculating its non-US GAAP financial measures. APPENDIX Non-US GAAP Financial Measures 27
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Non-US GAAP Financial Measures APPENDIX 28 • Adjusted EBITDAR is defined as net (loss) earnings attributable to Century Casinos, Inc. shareholders before interest expense (income), net, income taxes (benefit), depreciation, amortization, non-controlling interests net earnings (losses) and transactions, pre-opening expenses, termination expenses, acquisition costs, non-cash stock-based compensation charges, asset impairment costs, loss (gain) 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. The Master Lease is accounted for as a financing obligation. As such, a portion of the periodic payment under the Master Lease is recognized as interest expense with the remainder of the payment impacting the financing obligation using the effective interest method. 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. 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 GAAP. Adjusted EBITDAR Margin is Adjusted EBITDAR divided by net operating revenue. Adjusted EBITDAR is used outside of our financial statements solely as a valuation metric and is not considered a measure of performance recognized under GAAP. Adjusted EBITDAR is an additional metric used by analysts in valuing gaming companies subject to triple net leases such as our Master Lease since it eliminates the effects of variability in leasing methods and capital structures. This metric is included as supplemental disclosure because (i) we believe Adjusted EBITDAR is used by gaming operator analysts and investors to determine the equity value of gaming operators and (ii) financial analysts refer to Adjusted EBITDAR when valuing our business. We believe Adjusted EBITDAR is useful for equity valuation purposes because (i) its calculation isolates the effects of financing real estate, and (ii) using a multiple of Adjusted EBITDAR to calculate enterprise value allows for an adjustment to the balance sheet to recognize estimated liabilities arising from operating leases related to real estate.
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Non-US GAAP Financial Measures • Adjusted EBITDAR (continued). Adjusted EBITDAR should not be construed as an alternative to net (loss) earnings attributable to Century Casinos, Inc. shareholders, the most directly comparable GAAP measure, as indicators of our performance. In addition, consolidated Adjusted EBITDAR also should not be viewed as a measure of overall operating performance or considered in isolation or as an alternative to net (loss) earnings attributable to Century Casinos, Inc. shareholders, because it excludes the rent expense associated with our Master Lease and several other items. Adjusted EBITDAR as used by us may not be defined in the same manner as other companies in our industry, and, as a result, may not be comparable to similarly titled non-US GAAP financial measures of other companies. • The Company defines Adjusted Net Debt Leverage as Net Debt (as defined below) and cash in casinos divided by the Company’s trailing twelve-month Adjusted EBITDAR minus the Company’s trailing twelve-month Rent Payments. The Company believes this metric provides insight into the cushion it has on its financial maintenance covenants under the Goldman Credit Agreement. The Company’s Consolidated First Lien Net Leverage Ratio (as defined in the Goldman Credit Agreement) is not to exceed 5.5X, subject to certain adjustments that are not reflected in the Company’s presentation of Adjusted Net Debt Leverage. • Lease Adjusted Net Leverage is calculated as the Company’s Lease Debt (as defined in this Appendix) plus Net Debt divided by the Company’s trailing twelve-month Adjusted EBITDAR. Lease Adjusted Net Leverage shows the Company’s leverage as if the Master Lease and 50% of the lease payments from the Nugget to Smooth Bourbon were financed as debt obligations. Similar metrics are commonly used by the Company’s peers, and the Company believes that this metric provides a useful comparison for investors. The Company’s computation of Lease Adjusted Net Leverage may be different from, and therefore may not be comparable to, similar measures used by other companies within the gaming industry. APPENDIX 29
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Non-US GAAP Financial Measures • Lease Debt is Rent Payments capitalized at 8.0x (a metric the Company believes is the industry standard used by analysts for this calculation). Lease Debt is not considered a measure of the Company’s financing obligations under GAAP. Management believes Lease Debt provides investors with a metric that can be used to compare the Company’s leverage to its peers. The Company’s computation of Lease Debt may be different from, and therefore may not be comparable to, similar measures used by other companies within the gaming industry. • The Company defines Net Debt as Total Principal Debt minus cash and cash equivalents. Net Debt is not considered a liquidity measure recognized under GAAP. Management believes that Net Debt is a valuable measure of the Company’s overall financial situation. Net Debt provides investors with an indication of the Company’s ability to pay off all of its long-term debt if it became due simultaneously. • Net Debt Leverage is calculated as Net Debt divided by the Company’s trailing twelve-month Adjusted EBITDAR minus the Company’s trailing twelve-month Rent Payments. Net Debt Leverage shows the Company’s leverage to pay down long-term debt utilizing cash on hand and Adjusted EBITDAR, excluding cash for Rent Payments. Similar metrics are commonly used by the Company’s peers, and the Company believes that this metric provides a useful comparison for investors. The Company’s computation of Net Debt Leverage may be different from, and therefore may not be comparable to, similar measures used by other companies within the gaming industry. APPENDIX 30
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APPENDIX 31 Non-US GAAP Financial Measures – Reconciliation of Adjusted EBITDAR 2026 2025 Net operating revenue $ 151,995 $ 150,818 Net loss attributable to Century Casinos, Inc. shareholders (10,910) (12,309) Interest income (85) (273) Interest expense 25,937 26,211 Income tax expense 625 1,250 Depreciation and amortization 13,014 12,843 Non-controlling interests 1,605 2,736 Non-cash stock-based compensation 211 195 Gain on foreign currency transactions and other (9) (1,124) Loss on disposition of fixed assets 22 34 Pre-opening and termination expenses 1,250 741 Adjusted EBITDAR 31,660$ 30,304$ For the three months ended June 30 In USD, $ thousands.
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APPENDIX 32 Non-US GAAP Financial Measures – Reconciliation of North America1 Adjusted EBITDAR In USD, $ thousands. 1. North America consists of the US East, US Midwest, US West and Canada reportable segments. 2026 2025 2026 2025 Net operating revenue $ 132,073 $ 126,109 $ 248,200 $ 235,922 Net earnings (loss) attributable to Century Casinos, Inc. shareholders 3,598 112 116 (7,497) Interest income (41) (94) (90) (195) Interest expense 16,900 16,514 33,853 32,930 Income tax expense 499 971 785 1,187 Depreciation and amortization 12,283 12,084 24,603 24,089 Non-controlling interests 1,868 2,612 3,742 4,428 Gain on foreign currency transactions and other (50) (922) (54) (952) Loss on disposition of fixed assets 14 23 24 69 Adjusted EBITDAR 35,071$ 31,300$ 62,979$ 54,059$ For the three months ended June 30 For the six months ended June 30
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APPENDIX 33 Non-US GAAP Financial Measures – Reconciliation of Adjusted EBITDAR In USD, $ thousands. US EAST TTM Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2026 Net operating revenue 38,474$ 45,121$ 47,075$ 40,970$ 37,136$ 44,556$ 47,834$ 39,971$ 38,930$ 43,576$ 170,311$ Net loss attributable to Century Casinos, Inc. shareholders (4,047)$ (10,250)$ (1,527)$ (31,297)$ (6,203)$ (2,263)$ (1,147)$ (4,548)$ (5,145)$ (2,862)$ (13,702)$ Interest expense 6,377 6,398 6,397 6,404 6,638 6,344 6,515 6,523 6,634 6,641 26,313 Income taxes (1,711) 7,412 — 61 — — — — — — — Depreciation and amortization 3,809 4,008 4,038 4,070 3,802 3,821 3,853 3,894 3,897 3,869 15,513 Loss on foreign currency transactions and other — — — — — — — 1 — — 1 Loss (gain) on disposition of fixed assets 384 16 8 1 3 1 (1) 45 4 6 54 Impairment - goodwill — — — 26,473 — — — — — — — Adjusted EBITDAR 4,812$ 7,584$ 8,916$ 5,712$ 4,240$ 7,903$ 9,220$ 5,915$ 5,390$ 7,654$ 28,179$ 2024 2025 2026
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APPENDIX 34 Non-US GAAP Financial Measures – Reconciliation of Adjusted EBITDAR In USD, $ thousands. US MIDWEST TTM Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2026 Net operating revenue 39,170$ 40,598$ 40,842$ 39,927$ 39,751$ 41,374$ 41,930$ 40,756$ 41,805$ 44,680$ 169,171$ Net earnings (loss) attributable to Century Casinos, Inc. shareholders 4,283$ (7,198)$ 5,552$ 3,920$ 3,103$ 4,640$ 4,819$ 3,511$ 4,942$ 6,023$ 19,295$ Interest income — (83) (70) (15) (8) (3) (109) — — — (109) Interest expense 5,369 5,379 5,394 6,017 6,480 6,741 6,687 6,721 6,818 6,784 27,010 Income taxes 1,455 12,837 — (110) — 223 — 181 49 59 289 Depreciation and amortization 3,252 3,514 3,587 3,820 3,862 3,828 3,827 3,824 3,833 3,819 15,303 Loss on foreign currency transactions and other — — 25 — — — — — — — — Loss (gain) on disposition of fixed assets 10 116 5 4 (1) 23 22 2 4 4 32 Adjusted EBITDAR 14,369$ 14,565$ 14,493$ 13,636$ 13,436$ 15,452$ 15,246$ 14,239$ 15,646$ 16,689$ 61,820$ 2024 2025 2026
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APPENDIX 35 Non-US GAAP Financial Measures – Reconciliation of Adjusted EBITDAR In USD, $ thousands. US WEST TTM Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2026 Net operating revenue 18,390$ 20,796$ 29,222$ 19,084$ 16,409$ 20,174$ 25,233$ 17,746$ 17,067$ 23,378$ 83,424$ Net (loss) earnings attributable to Century Casinos, Inc. shareholders (3,018)$ (10,145)$ 676$ (48,811)$ (4,450)$ (2,864)$ (517)$ (3,887)$ (3,826)$ (708)$ (8,938)$ Interest income — — (1) — — — — — — — — Income taxes (2,017) 7,976 — 1,081 — — — — — — — Depreciation and amortization 3,227 3,281 3,314 3,332 3,343 3,361 3,385 3,393 3,384 3,394 13,556 Non-controlling interests 1,777 1,776 1,774 1,770 1,784 1,840 1,771 1,812 1,833 1,815 7,231 Loss on foreign currency transactions and other — — — — — — 36 — — 5 41 (Gain) loss on disposition of fixed assets (4) — — — 45 1 1 — 1 2 4 Impairment - goodwill — — — 43,716 — — — — — — — Adjusted EBITDAR $ (35) 2,888$ 5,763$ 1,088$ 722$ 2,338$ 4,676$ 1,318$ 1,392$ 4,508$ 11,894$ 2024 2025 2026
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APPENDIX 36 Non-US GAAP Financial Measures – Reconciliation of Adjusted EBITDAR Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Net loss attributable to Century Casinos, Inc. shareholders (13.5)$ (41.6)$ (8.1)$ (90.3)$ (20.6)$ (12.3)$ (10.5)$ (17.9)$ (16.5)$ (10.9)$ Interest income (0.7) (0.7) (0.8) (0.5) (0.4) (0.3) (0.4) (0.3) (0.1) (0.1) Interest expense 25.8 25.8 25.9 25.9 26.0 26.2 26.4 26.1 25.9 25.9 Income tax expense (benefit) (4.0) 29.6 (0.3) 1.3 0.5 1.3 0.4 0.6 0.9 0.6 Depreciation and amortization 12.0 12.4 12.5 12.7 12.4 12.8 12.8 12.9 13.0 13.0 Non-controlling interests 1.9 2.6 1.4 1.2 1.7 2.7 1.2 1.9 1.7 1.6 Non-cash stock-based compensation 0.5 0.3 (0.3) (0.5) 0.3 0.2 0.3 0.3 0.2 0.2 (Gain) loss on foreign currency transactions, cost recovery income and other (1.3) (1.3) (0.1) (0.3) (0.1) (1.1) 0.1 0.1 (0.2) (0.0) Impairment - goodwill — — — 70.2 — — — — — — Loss (gain) on disposition of fixed assets 0.6 0.2 0.0 0.6 0.1 0.0 0.0 (0.0) 0.0 0.0 Acquisition costs (0.0) — — — — — — — — — Preopening and termination expenses — — 2.8 0.8 0.3 0.7 0.8 0.2 — 1.3 Adjusted EBITDAR 21.3$ 27.4$ 32.9$ 21.1$ 20.2$ 30.3$ 31.1$ 23.9$ 24.9$ 31.7$ 2024 2025 2026 In USD, $ millions.
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In USD, $ thousands. APPENDIX 37 Non-US GAAP Financial Measures – Reconciliation of Adjusted EBITDAR Trailing- Twelve Months Ended Year Ended Q3 2025 Q4 2025 Q1 2026 Q2 2026 June 30, 2026 December 31, 2025 Net operating revenue $153,724 $137,992 $137,239 $151,995 $580,950 $572,975 Net loss attributable to Century Casinos, Inc. shareholders $(10,548) $(17,946) $(16,504) $(10,910) $(55,908) $(61,416) Interest income (405) (259) (136) (85) (885) (1,317) Interest expense 26,418 26,118 25,947 25,937 104,420 104,783 Income tax expense (benefit) 423 593 909 625 2,550 2,748 Depreciation and amortization 12,817 12,868 13,016 13,014 51,715 50,921 Non-controlling interests 1,153 1,897 1,720 1,605 6,375 7,520 Non-cash stock-based compensation 316 326 161 211 1,014 1,128 Loss (gain) on foreign currency transactions, cost recovery income and other 81 69 (192) (9) (51) (1,093) Loss (gain) on disposition of fixed assets 40 (33) 19 22 48 90 Preopening and termination expenses 769 223 — 1,250 2,242 2,013 Adjusted EBITDAR $31,064 $23,856 $24,940 $31,660 $111,520 $105,377 Adjusted EBITDAR Margin 20.2% 17.3% 18.2% 20.8% 19.2% 18.4%
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APPENDIX 38 Calculation of Interest Expense (Income), Net Trailing- Twelve Months Ended Year Ended Q3 2025 Q4 2025 Q1 2026 Q2 2026 June 30, 2026 December 31, 2025 Interest expense - Credit Agreements $8,918 $8,614 $8,155 $8,195 $33,882 $35,187 Interest expense - Master Lease Financing Obligation 16,637 16,641 16,940 16,887 67,105 66,174 Interest expense - Deferred Financing Costs 674 674 674 674 2,696 2,695 Interest expense - Miscellaneous 189 189 178 181 737 727 Interest expense $26,418 $26,118 $25,947 $25,937 $104,420 $104,783 In USD, $ thousands.
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APPENDIX 39 Calculation of Rent Payments Trailing- Twelve Months Ended Year Ended Q3 2025 Q4 2025 Q1 2026 Q2 2026 June 30, 2026 December 31, 2025 Cash payments on Master Lease $14,442 $15,470 $18,075 $17,376 $65,363 $58,644 Cash payments on Nugget lease (50%) 1 1,937 1,982 2,005 2,018 7,942 7,768 Rent Payments $16,379 $17,452 $20,080 $19,394 $73,305 $66,412 Deferred rent included in cash payments on Master Lease $— $708 $2,125 $1,417 $4,250 $708 In USD, $ thousands. 1. Represents the 50% interest in the Nugget Lease owned by Marnell Gaming LLC through Smooth Bourbon. Smooth Bourbon is a 50 % owned subsidiary of the Company that owns the real estate underlying the Nugget Casino Resort.
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In addition to the Rent Payments presented in the table above, operating lease payments for the trailing twelve months ended June 30, 2026 were $7.0 million. In USD, $ in millions. 1. Adjusted EBITDAR for the trailing twelve months ended June 30, 2026. See Appendix for a definition and calculation of Adjusted EBITDAR. 2. Rent Payments for the trailing twelve months ended June 30, 2026. See Appendix for a definition of Rent Payments. 3. Net Debt Leverage is calculated as Net Debt divided by Adjusted EBITDAR minus Rent Payments. See Appendix for a definition of Net Debt Leverage. 4. Adjusted Net Debt Leverage is calculated as Net Debt plus cash in casinos divided by Adjusted EBITDAR minus Rent Payments. Se e Appendix for a definition of Adjusted Net Debt Leverage. 5. Lease Debt is calculated as Rent Payments capitalized at 8.0x. See Appendix for a definition of Lease Debt. 6. Lease Adjusted Net Leverage is calculated as Lease Debt plus Net Debt divided by Adjusted EBITDAR. See Appendix for a definition of Lease Adjusted Net Leverage. APPENDIX 40 Non-US GAAP Financial Measures – Calculations and Components Used in Calculations Actual Deferred Rent Adjusted Cash $60.2 $60.2 Cash in Casinos $37.1 $37.1 Total Principal Debt $336.5 $336.5 Net Debt $276.3 $276.3 Adjusted EBITDAR 1 $111.5 $111.5 Rent Payments 2 ($73.3) $4.3 ($69.0) Net Debt Leverage 3 7.2x 6.5x Adjusted Net Debt Leverage 4 8.2x 7.4x Lease Debt 5 Capitalized at 8.0x 586.4 552.0 Lease Debt plus Net Debt 862.7 828.3 Lease Adjusted Net Leverage 6 7.7x 7.4x Trailing Twelve Months Ended June 30, 2026
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Non-US GAAP Financial Measures – Calculation of Net Debt APPENDIX 41 In USD, $ thousands. Total long-term debt, including current portion $ 329,074 $ 328,931 Deferred financing costs 7,411 8,759 Total principal $ 336,485 $ 337,690 Less: Cash and cash equivalents $ 60,179 $ 68,921 Net Debt $ 276,306 $ 268,769 June 30, 2026 December 31, 2025