Earnings release
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PRESS RELEASE CENTURYⓇ CASINOS August 7 , 2026 Century Casinos , Inc. Announces Second Quarter 2026 Results All - Time Record Q2 Net Operating Revenue and Adjusted EBITDAR , Driven by Strong Performance in North America . Colorado Springs , Colorado - August 7 , 2026 - Century Casinos , Inc. ( the “ Company ” , “ we ” , " us " , or " our " ) ( Nasdaq Capital MarketⓇ : CNTY ) today announced its financial results for the three and six months ended June 30 , 2026 . Second Quarter 2026 Highlights * Compared to the three months ended June 30 , 2025 : Net operating revenue was $ 152.0 million , an increase of 1 % . Earnings from operations was $ 17.2 million , an increase of 4 % . Net loss attributable to Century Casinos , Inc. shareholders was ( $ 10.9 ) million , a change of 11 % , and net loss per share was ( $ 0.39 ) . Adjusted EBITDAR ** was $ 31.7 million , an increase of 5 % . Highlights of our US West Segment compared to the three months ended June 30 , 2025 * : Net operating revenue was $ 23.4 million , an increase of 16 % . Net loss attributable to Century Casinos , Inc. shareholders was ( $ 0.7 ) million , a 75 % improvement . Adjusted EBITDAR ** was $ 4.5 million , a 93 % increase . " We are very pleased with the results of our North American operations during the second quarter , driven by a strong performance at the Nugget , in the US West reportable segment , as well as in the US Midwest reportable segment , which includes our Missouri and Colorado properties . The Nugget's Adjusted EBITDAR ** grew an additional 93 % , after growing by 93 % in the first quarter , and we will continue to work diligently at the property to continue this performance throughout 2026 and beyond . Unfortunately , the results in North America were negatively impacted by Poland , which continued to underperform due , in part , to low table hold in June 2026. However , we are seeing some signs of improvement in Poland that should lead to better results over the next several quarters , " Erwin Haitzmann and Peter Hoetzinger , Co - Chief Executive Officers of Century Casinos , remarked . RESULTS The consolidated results for the three and six months ended June 30 , 2026 and 2025 are as follows : Amounts in thousands , except per share data Consolidated Results : Net operating revenue Earnings from operations Net loss attributable to Century Casinos , Inc. shareholders $ 151,995 $ 150,818 17,180 For the three months ended June 30 , 2026 For the six months % 2025 16,575 Change 1 % 4 % 2026 ended June 30 , 2025 % Change $ 289,234 $ 281,261 3 % 28,941 23,715 22 % $ ( 10,910 ) $ ( 12,309 ) 11 % $ ( 27,414 ) $ ( 32,922 ) 17 % Adjusted EBITDAR ** $ 31,660 $ 30,304 5 % $ 56,599 $ 50,459 12 % Net loss per share attributable to Century Casinos , Inc. shareholders : Basic Diluted $ ( 0.39 ) $ $ ( 0.39 ) $ ( 0.40 ) ( 0.40 ) 3 % $ ( 0.96 ) $ ( 1.08 ) 11 % 3 % $ ( 0.96 ) $ ( 1.08 ) 11 % * Amounts presented are rounded . As such , rounding differences could occur in period over period changes and percentages reported . ** Adjusted EBITDAR and Adjusted EBITDAR margin are Non - US GAAP financial measures . See discussion and reconciliation of Non - US GAAP financial measures in Supplemental Information below .
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RESULTS BY REPORTABLE SEGMENT* Following is a summary of the changes in net operating revenue by reportable segment forthe three and six months ended June 30, 2026, compared to the three and six monthsended June 30, 2025: Net Operating Revenue For the three months For the six months Amounts in ended June 30, $ % ended June 30, $ % thousands 2026 2025 Change Change 2026 2025 Change Change US East $ 43,576 $ 44,556 $ (980) (2%) $ 82,505 $ 81,690 $ 815 1% US Midwest 44,680 41,374 3,306 8% 86,487 81,128 5,359 7% US West 23,378 20,174 3,204 16% 40,446 36,583 3,863 11% Canada 20,439 20,005 434 2% 38,762 36,521 2,241 6% Poland 19,922 24,709 (4,787) (19%) 41,034 45,339 (4,305) (10%) Consolidated $151,995 $150,818 $ 1,177 1% $289,234 $281,261 $ 7,973 3% Following is a summary of the changes in earnings (loss) from operations by reportablesegment for the three and six months ended June 30, 2026, compared to the three and sixmonths ended June 30, 2025: Earnings (Loss) from Operations For the threemonths For the six months Amounts in ended June 30, $ % ended June 30, $ %thousands 2026 2025 Change Change 2026 2025 Change Change US East $ 3,785 $ 4,083 $ (298) (7%) $ 5,268 $ 4,520 $ 748 17% US Midwest 12,870 11,624 1,246 11% 24,684 21,201 3,483 16% US West 1,109 (978) 2,087 213% (881) (3,645) 2,764 76% Canada 5,019 4,533 486 11% 9,300 7,894 1,406 18% Poland (659) 464 (1,123) (242%) (838) 355 (1,193) (336%) Other (1) (4,944) (3,151) (1,793) (57%) (8,592) (6,610) (1,982) (30%) Consolidated $ 17,180 $ 16,575 $ 605 4% $ 28,941 $ 23,715 $ 5,226 22% ( 1)Represents additional business activities including certain other corporate and managementoperations that are not included in the Company’s reportable segments. Information ispresented for reconciliation purposes. * Amounts presented are rounded. As such, rounding differences could occur in period overperiod changes and percentages reported.** Adjusted EBITDAR and Adjusted EBITDAR margin are Non-US GAAP financial measures.See discussion and reconciliation of Non-US GAAP financial measures in SupplementalInformation below. 2/12
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Following is a summary of the changes in net (loss) earnings attributable to Century Casinos,Inc. shareholders by reportable segment for the three and six months ended June 30, 2026, compared to the three and six months ended June 30, 2025: Net (Loss) Earnings Attributable to Century Casinos, Inc. Shareholders For the threemonths For the six months Amounts in ended June 30, $ % ended June 30, $ %thousands 2026 2025 Change Change 2026 2025 Change Change US East $ (2,862) $ (2,263) $ (599) (27%) $ (8,017) $ (8,463) $ 446 5% US Midwest 6,023 4,640 1,383 30% 10,966 7,747 3,219 42% US West (708) (2,864) 2,156 75% (4,532) (7,314) 2,782 38% Canada 1,145 599 546 91% 1,699 533 1,166 219% Poland (528) 245 (773) (316%) (835) 81 (916) (1131%) Other (1) (13,980) (12,666) (1,314) (10%) (26,695) (25,506) (1,189) (5%) Consolidated $(10,910) $(12,309) $ 1,399 11% $(27,414) $(32,922) $ 5,508 17% ( 1)Represents additional business activities including certain other corporate and managementoperations that are not included in the Company’s reportable segments. Information ispresented for reconciliation purposes. Items deducted from or added to earnings (loss) from operations to arrive at net (loss)earnings attributable to Century Casinos, Inc. shareholders include interest income, interestexpense, gains (losses) on foreign currency transactions and other, income tax (benefit)expense, and non-controlling interests. Following is a summary of the changes in Adjusted EBITDAR** by reportable segment forthe three and six months ended June 30, 2026 compared to the three and six months endedJune 30, 2025: Adjusted EBITDAR** For the threemonths For the six months Amounts in ended June 30, $ % ended June 30, $ %thousands 2026 2025 Change Change 2026 2025 Change Change US East $ 7,654 $ 7,903 $ (249) (3%) $ 13,037 $ 12,143 $ 894 7% US Midwest 16,689 15,452 1,237 8% 32,337 28,890 3,447 12% US West 4,508 2,338 2,170 93% 5,902 3,059 2,843 93% Canada 6,220 5,607 613 11% 11,703 9,967 1,736 17% Poland 52 1,942 (1,890) (97%) 555 2,488 (1,933) (78%) Other (1) (3,463) (2,938) (525) (18%) (6,935) (6,088) (847) (14%) Consolidated $ 31,660 $ 30,304 $ 1,356 5% $ 56,599 $ 50,459 $ 6,140 12% ( 1)Represents additional business activities including certain other corporate and managementoperations that are not included in the Company’s reportable segments. Information ispresented for reconciliation purposes. * Amounts presented are rounded. As such, rounding differences could occur in period overperiod changes and percentages reported.** Adjusted EBITDAR and Adjusted EBITDAR margin are Non-US GAAP financial measures.See discussion and reconciliation of Non-US GAAP financial measures in SupplementalInformation below. 3/12
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BALANCE SHEET AND LIQUIDITY As of June 30, 2026, the Company had $60.2 million in cash and cash equivalents comparedto $68.9 million in cash and cash equivalents at December 31, 2025. As of June 30, 2026,the Company had $336.5 million in outstanding debt compared to $337.7 million inoutstanding debt at December 31, 2025. The outstanding debt as of June 30, 2026 included$331.6 million related to a term loan under the Company’s credit agreement with GoldmanSachs Bank USA (“Goldman”), $0.9 million under a credit agreement related to CasinosPoland (“CPL”) and $3.9 million under a revolving credit facility related to CPL. The Companyalso has a revolving line of credit with Goldman of up to $30.0 million. If the Company hasaggregate outstanding revolving loans, swingline loans and letters of credit greater than$10.5 million under the credit agreement with Goldman as of the last day of any fiscalquarter, it is required to maintain a Consolidated First Lien Net Leverage Ratio of 5.50 to 1.00or less for such fiscal quarter. As of June 30, 2026, the Consolidated First Lien Net LeverageRatio exceeded 5.50 to 1.00, but the Company had no outstanding revolving loans, swinglineloans or letters of credit under the credit agreement with Goldman. The Company also has a$708.0 million long-term financing obligation under its master lease with subsidiaries of VICIProperties, Inc. (“Master Lease”). CONFERENCE CALL INFORMATIONToday the Company will post a copy of its quarterly report on Form 10-Q filed with the SECfor the quarter ended June 30, 2026 on its website at www.cnty.com/investor/financials/sec-filings/. The Company will also post its current presentation, which may be used in one ormore meetings with current and potential investors from time to time, at the Company’swebsite under www.cnty.com/investor/presentations/. The Company will host its second quarter 2026 earnings conference call today, Friday, August 7, 2026 at 10:00 am EDT / 8:00 am MDT. U.S. domestic participants should dial 888-999-6281. For all international participants, please use 848-280-6550 to dial-in. Theconference ID is ‘Casinos’. Participants may listen to the call liveat https://app.webinar.net/5PAjQGDaNEk or obtain a recording of the call on the Company’swebsite until August 31, 2026 at www.cnty.com/investor/financials/financial-results/. * Amounts presented are rounded. As such, rounding differences could occur in period overperiod changes and percentages reported.** Adjusted EBITDAR and Adjusted EBITDAR margin are Non-US GAAP financial measures.See discussion and reconciliation of Non-US GAAP financial measures in SupplementalInformation below. 4/12
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CENTURY CASINOS, INC. AND SUBSIDIARIES UNAUDITED FINANCIAL INFORMATION – US GAAP BASIS Condensed Consolidated Statements of Loss For the three monthsFor the six monthsended June 30, ended June 30, Amounts in thousands, except for share information 2026 2025 2026 2025 Operating revenue: Net operating revenue $ 151,995 $ 150,818 $ 289,234 $ 281,261 Operating costs and expenses: Total operating costs and expenses 134,815 134,243 260,293 257,546 Earnings from operations 17,180 16,575 28,941 23,715 Non-operating (expense) income, net (25,860) (24,898) (51,496) (50,435) Loss before income taxes (8,680) (8,323) (22,555) (26,720) Income tax expense (625) (1,250) (1,534) (1,732) Net loss (9,305) (9,573) (24,089) (28,452) Net earnings attributable to non-controllinginterests (1,605) (2,736) (3,325) (4,470) Net loss attributable to Century Casinos,Inc. shareholders $ (10,910) $ (12,309) $ (27,414) $ (32,922) Net loss per share attributable to Century Casinos, Inc. shareholders: Basic $ (0.39) $ (0.40) $ (0.96) $ (1.08) Diluted $ (0.39) $ (0.40) $ (0.96) $ (1.08) Weighted average common shares Basic 28,195 30,565 28,413 30,624 Diluted 28,195 30,565 28,413 30,624 Condensed Consolidated Balance Sheets June 30, December 31, Amounts in thousands 2026 2025 Assets Current assets $ 92,647 $ 104,072 Property and equipment, net 882,052 902,756 Other assets 130,505 140,443 Total assets $ 1,105,204 $ 1,147,271 Liabilities and (Deficit) Equity Current liabilities $ 77,633 $ 79,780 Non-current liabilities 1,063,117 1,074,273 Century Casinos, Inc. shareholders' (deficit) equity (125,671) (97,697) Non-controlling interests 90,125 90,915 Total liabilities and (deficit) equity $ 1,105,204 $ 1,147,271 5/12
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CENTURY CASINOS, INC. AND SUBSIDIARIESUNAUDITED SUPPLEMENTAL INFORMATION Reconciliation of Adjusted EBITDAR* to Net (Loss) Earnings Attributable to Century Casinos, Inc.Shareholders by Reportable Segment. For the three months ended June 30, 2026 Amounts in thousands US East US Midwest US West Canada Poland Other (1) Total North America Total Net (loss) earnings attributable to Century Casinos, Inc. shareholders $(2,862) $ 6,023 $ (708) $ 1,145 $ (528) $(13,980) $(10,910) $ 3,598 Interest income — — — (41) (1) (43) (85) (41) Interest expense (2) 6,641 6,784 — 3,475 68 8,969 25,937 16,900 Income tax expense — 59 — 440 23 103 625 499 Depreciation and amortization 3,869 3,819 3,394 1,201 711 20 13,014 12,283 Net earnings (loss) attributable to non- controlling interests — — 1,815 53 (263) — 1,605 1,868 Non-cash stock- based compensation — — — — — 211 211 — Loss (gain) on foreign currency transactions, cost recovery income and other — — 5 (55) 34 7 (9) (50) Loss on disposition of fixed assets 6 4 2 2 8 — 22 14 Pre-opening and termination expenses — — — — — 1,250 1,250 — Adjusted EBITDAR $ 7,654 $ 16,689 $4,508 $ 6,220 $ 52 $ (3,463) $ 31,660 $ 35,071 (1) Represents additional business activities including certain other corporate and managementoperations that are not included in our reportable segments. Information is presented forreconciliation purposes.(2) See “Summary of Interest Expense” below for a breakdown of interest expense and “CashRent Payments” below for more information on the rent payments related to the Master Lease. 6 /12
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CENTURY CASINOS, INC. AND SUBSIDIARIESUNAUDITED SUPPLEMENTAL INFORMATION Reconciliation of Adjusted EBITDAR* to Net (Loss) Earnings Attributable to Century Casinos, Inc.Shareholders by Reportable Segment. For the three months ended June 30, 2025 Amounts in thousands US East US Midwest US West Canada Poland Other (1) Total North America Total Net (loss) earnings attributable to Century Casinos, Inc. shareholders $(2,263) $ 4,640 $(2,864) $ 599 $ 245 $(12,666) $(12,309) $ 112 Interest income — (3) — (91) (3) (176) (273) (94) Interest expense (2) 6,344 6,741 — 3,429 52 9,645 26,211 16,514 Income tax expense — 223 — 748 241 38 1,250 971 Depreciation and amortization 3,821 3,828 3,361 1,074 741 18 12,843 12,084 Net earnings attributable to non- controlling interests — — 1,840 772 124 — 2,736 2,612 Non-cash stock- based compensation — — — — — 195 195 — (Gain) loss on foreign currency transactions, cost recovery income and other (3) — — — (922) (210) 8 (1,124) (922) Loss (gain) on disposition of fixed assets 1 23 1 (2) 11 — 34 23 Pre-opening and termination expenses — — — — 741 — 741 — Adjusted EBITDAR $ 7,903 $ 15,452 $ 2,338 $ 5,607 $ 1,942 $ (2,938) $ 30,304 $ 31,300 (1) Represents additional business activities including certain other corporate and managementoperations that are not included in our reportable segments. Information is presented forreconciliation purposes.(2) See “Summary of Interest Expense” below for a breakdown of interest expense and “CashRent Payments” below for more information on the rent payments related to the Master Lease.(3) Includes $1.0 million related to cost recovery income for CDR in the Canada segment. 7/12
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CENTURY CASINOS, INC. AND SUBSIDIARIESUNAUDITED SUPPLEMENTAL INFORMATION Reconciliation of Adjusted EBITDAR* to Net (Loss) Earnings Attributable to Century Casinos, Inc.Shareholders by Reportable Segment. For the six months ended June 30, 2026 Amounts in thousands US East US Midwest US West Canada Poland Other (1) Total Net (loss) earnings attributable to Century Casinos, Inc. shareholders $(8,017) $ 10,966 $(4,532) $ 1,699 $ (835) $(26,695) $(27,414) Interest income — — — (90) (5) (126) (221) Interest expense (2) 13,275 13,602 — 6,976 129 17,900 51,882 Income tax expense — 108 — 677 430 319 1,534 Depreciation and amortization 7,769 7,653 6,778 2,403 1,393 35 26,031 Net earnings (loss) attributable to non- controlling interests — — 3,648 94 (417) — 3,325 Non-cash stock-based compensation — — — — — 372 372 Loss (gain) on foreign currency transactions, cost recovery income and other — — 5 (59) (157) 10 (201) Loss on disposition of fixed assets 10 8 3 3 17 — 41 Pre-opening and termination expenses — — — — — 1,250 1,250 Adjusted EBITDAR $13,037 $ 32,337 $ 5,902 $11,703 $ 555 $ (6,935) $ 56,599 (1) Represents additional business activities including certain other corporate and managementoperations that are not included in our reportable segments. Information is presented forreconciliation purposes.(2) See “Summary of Interest Expense” below for a breakdown of interest expense and “CashRent Payments” below for more information on the rent payments related to the Master Lease. 8/12
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CENTURY CASINOS, INC. AND SUBSIDIARIESUNAUDITED SUPPLEMENTAL INFORMATION Reconciliation of Adjusted EBITDAR* to Net (Loss) Earnings Attributable to Century Casinos, Inc. Shareholders by Reportable Segment. For the six months ended June 30, 2025 Amounts in thousands US East US Midwest US West Canada Poland Other (1) Total Net (loss) earnings attributable to Century Casinos, Inc. shareholders $(8,463) $ 7,747 $(7,314) $ 533 $ 81 $(25,506) $(32,922) Interest income — (12) — (183) (11) (447) (653) Interest expense (2) 12,981 13,220 — 6,729 102 19,215 52,247 Income tax expense — 223 — 964 331 214 1,732 Depreciation and amortization 7,623 7,689 6,704 2,073 1,111 36 25,236 Net earnings attributable to non-controlling interests — — 3,623 805 42 — 4,470 Non-cash stock-based compensation — — — — — 486 486 Gain on foreign currency transactions, cost recovery income and other (3) — — — (952) (205) (86) (1,243) Loss (gain) on disposition of fixed assets 2 23 46 (2) 15 — 84 Pre-opening and termination expenses — — — — 1,022 — 1,022 Adjusted EBITDAR $12,143 $ 28,890 $ 3,059 $ 9,967 $ 2,488 $ (6,088) $ 50,459 (1) Represents additional business activities including certain other corporate and managementoperations that are not included in our reportable segments. Information is presented forreconciliation purposes.(2) See “Summary of Interest Expense” below for a breakdown of interest expense and “CashRent Payments” below for more information on the rent payments related to the Master Lease.(3) Includes $1.0 million related to cost recovery income for CDR in the Canada segment. 9/12
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CENTURY CASINOS, INC. AND SUBSIDIARIES UNAUDITED SUPPLEMENTAL INFORMATION Net Earnings (Loss) Margins** and Adjusted EBITDAR Margins*** For the three months For the six months ended June 30, ended June 30, 2026 2025 2026 2025 US East Net Operating Revenue $ 43,576 $ 44,556 $ 82,505 $ 81,690 Net Earnings (Loss) Margin (7%) (5%) (10%) (10%) Adjusted EBITDAR Margin 18% 18% 16% 15% US Midwest Net Operating Revenue $ 44,680 $ 41,374 $ 86,487 $ 81,128 Net Earnings (Loss) Margin 13% 11% 13% 10% Adjusted EBITDAR Margin 37% 37% 37% 36% US West Net Operating Revenue $ 23,378 $ 20,174 $ 40,446 $ 36,583 Net Earnings (Loss) Margin (3%) (14%) (11%) (20%) Adjusted EBITDAR Margin 19% 12% 15% 8% Canada Net Operating Revenue $ 20,439 $ 20,005 $ 38,762 $ 36,521 Net Earnings (Loss) Margin 6% 3% 4% 1% Adjusted EBITDAR Margin 30% 28% 30% 27% Poland Net Operating Revenue $ 19,922 $ 24,709 $ 41,034 $ 45,339 Net Earnings (Loss) Margin (3%) 1% (2%) — Adjusted EBITDAR Margin — 8% 1% 5% Other (1) Net Operating Revenue $ — $ — $ — $ — Net Earnings (Loss) Margin NM (2) NM NM NM Adjusted EBITDAR Margin NM NM NM NM Consolidated Net Operating Revenue $ 151,995 $ 150,818 $ 289,234 $ 281,261 Net Earnings (Loss) Margin (7%) (8%) (9%) (12%) Adjusted EBITDAR Margin 21% 20% 20% 18% (1) Represents additional business activities including certain other corporate and managementoperations that are not included in our reportable segments. Information is presented forreconciliation purposes.(2) Not meaningful. Summary of Interest Expense For the three monthsFor the six monthsended June 30, ended June 30, Amounts in thousands 2026 2025 2026 2025 Interest expense - Credit Agreements 8,195 8,864 16,350 17,656 Interest expense - Master Lease FinancingObligation 16,887 16,494 33,827 32,896 Interest expense - Deferred Financing Costs 674 674 1,348 1,348 Interest expense - Miscellaneous 181 179 357 347 Interest expense $ 25,937 $ 26,211 $ 51,882 $ 52,247 Cash Rent Payments For the three monthsFor the six monthsended June 30, ended June 30, Amounts in thousands 2026 2025 2026 2025 Master Lease $ 17,376 $ 14,404 $ 35,451 $ 28,731 Nugget Lease (1) 2,018 1,936 4,023 3,849 ( 1)Represents payments with respect to the 50% interest in the Nugget Lease owned by MarnellGaming, LLC through Smooth Bourbon, LLC, a 50% owned subsidiary of the Company thatowns the real estate assets underlying the Nugget Casino Resort. 10/12
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CENTURY CASINOS, INC. AND SUBSIDIARIES UNAUDITED SUPPLEMENTAL INFORMATION The table below shows the Company’s reporting units and operating segments that areincluded in each of the Company’s reportable segments as of June 30, 2026. Reportable Segment andOperating Segment Reporting Unit US East Mountaineer Casino, Resort & RacesRocky Gap Casino, Resort & GolfUS Midwest Century Casino & Hotel Central CityCentury Casino & Hotel Cripple CreekCentury Casino & Hotel Cape Girardeau and The RiverviewCentury Casino & Hotel Caruthersville and The FarmsteadUS West Nugget Casino Resort and Smooth Bourbon, LLCCanada Century Casino & Hotel EdmontonCentury Casino St. AlbertCentury Mile Racetrack and CasinoCentury Downs Racetrack and CasinoPoland Casinos Poland * We define Adjusted EBITDAR 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-openingexpenses, termination expenses, acquisition costs, non-cash stock-based compensationcharges, asset impairment costs, loss (gain) on disposition of fixed assets, discontinuedoperations, (gain) loss on foreign currency transactions, cost recovery income and other, gainon business combination and certain other one-time transactions. The Master Lease isaccounted for as a financing obligation. As such, a portion of the periodic payment under theMaster Lease is recognized as interest expense with the remainder of the payment impactingthe financing obligation using the effective interest method. Intercompany transactionsconsisting primarily of management and royalty fees and interest, along with their related taxeffects, are excluded from the presentation of net (loss) earnings attributable to CenturyCasinos, Inc. shareholders and Adjusted EBITDAR reported for each segment. Not all of theaforementioned items occur in each reporting period, but have been included in the definitionbased on historical activity. These adjustments have no effect on the consolidated results asreported under US GAAP. Adjusted EBITDAR is used outside of our financial statements solely as a valuation metricand is not considered a measure of performance recognized under US GAAP. AdjustedEBITDAR is an additional metric used by analysts in valuing gaming companies subject totriple net leases such as our Master Lease since it eliminates the effects of variability inleasing methods and capital structures. This metric is included as supplemental disclosurebecause (i) we believe Adjusted EBITDAR is used by gaming operator analysts and investorsto determine the equity value of gaming operators and (ii) financial analysts refer to AdjustedEBITDAR when valuing our business. We believe Adjusted EBITDAR is useful for equityvaluation 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 anadjustment to the balance sheet to recognize estimated liabilities arising from operatingleases related to real estate. Adjusted EBITDAR should not be construed as an alternative to net (loss) earningsattributable to Century Casinos, Inc. shareholders, the most directly comparable US GAAPmeasure, as indicators of our performance. In addition, consolidated Adjusted EBITDAR alsoshould not be viewed as a measure of overall operating performance or considered inisolation 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 andseveral other items. Adjusted EBITDAR as used by us may not be defined in the samemanner as other companies in our industry, and, as a result, may not be comparable tosimilarly titled non-US GAAP financial measures of other companies. 11/12
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CENTURY CASINOS, INC. AND SUBSIDIARIES UNAUDITED SUPPLEMENTAL INFORMATION ** We define net earnings (loss) margin as net (loss) earnings attributable to CenturyCasinos, Inc. shareholders divided by net operating revenue. *** We define Adjusted EBITDAR margin as Adjusted EBITDAR divided by net operatingrevenue. Adjusted EBITDAR margins are a non-US GAAP measure. Management usesthese margins as one of several measures to evaluate the efficiency of our casinooperations. ABOUT CENTURY CASINOS, INC.: Century Casinos, Inc. is a casino entertainment company. The Company operates thefollowing reportable segments: (i) US East includes the Mountaineer Casino, Resort & Racesin New Cumberland, West Virginia and Rocky Gap Casino, Resort & Golf in Flintstone,Maryland; (ii) US Midwest includes the Century Casinos & Hotels in Cape Girardeau andCaruthersville, Missouri, and in Cripple Creek and Central City, Colorado; (iii) US Westincludes the Nugget Casino Resort in Reno-Sparks, Nevada; (iv) Canada includes CenturyCasino & Hotel in Edmonton, the Century Casino in St. Albert, Century Mile Racetrack andCasino in Edmonton, Alberta and Century Downs Racetrack and Casino in Calgary, Alberta;and (v) Poland, where the Company operates six casinos through its subsidiary CasinosPoland Ltd. The Company continues to pursue other projects in various stages ofdevelopment. Century Casinos’ common stock trades on The Nasdaq Capital Market® under the symbolCNTY. For more information about Century Casinos, visit our website at www.cnty.com. FORWARD-LOOKING STATEMENTS, BUSINESS ENVIRONMENT ANDRISK FACTORS This release may contain “forward-looking statements” within the meaning of Section 27A ofthe 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. These statements arebased on the beliefs and assumptions of the management of Century Casinos based oninformation currently available to management. Such forward-looking statements include, butare not limited to, statements regarding the potential for our portfolio of casinos, the strategicreview process and the potential sale of our Poland operations, projects in development andother opportunities, our credit agreement with Goldman and obligations under our MasterLease 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 expectations regarding AdjustedEBITDAR and cash flow in 2026, improved performance at the Nugget and in Poland, andother estimates, forecasts and expectations regarding 2026 and later results, and any otherstatements that are not purely historical. Such forward-looking statements are subject torisks, uncertainties and other factors that could cause actual results to differ materially fromfuture results expressed or implied by such forward-looking statements. Important factorsthat could cause actual results to differ materially from the forward-looking statementsinclude, among others, the risks described in the section entitled “Risk Factors” under Item1A in our Annual Report on Form 10-K for the year ended December 31, 2025 and ourQuarterly Report on Form 10-Q for the quarter ended June 30, 2026, and in subsequentperiodic and current SEC filings we may make. Century Casinos disclaims any obligation torevise or update any forward-looking statement that may be made from time to time by it oron its behalf. 12/12