Century Casinos
Century Casinos, Inc. Announces Second Quarter 2025 Results
Century Casinos, Inc. announced its financial results for the three and six months ended June 30, 2025.
Second Quarter 2025 Highlights*
Compared to the three months ended June 30, 2024:
- Net operating revenue was $150.8 million, an increase of 3%.
- Earnings from operations was $16.6 million, an increase of 16%.
- Net loss attributable to Century Casinos, Inc. shareholders was ($12.3) million, a decrease in net loss of 70%, and basic net loss per share was ($0.40).
- Adjusted EBITDAR** was $30.3 million, an increase of 10%.
“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 optimizing our portfolio of assets and operations,” Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos remarked.
UPDATES
Sports Betting – Missouri – In May 2025, the Company announced that it has partnered with BetMGM to operate an online and mobile sports betting application under the Company’s license in Missouri. The agreement includes a percentage of net gaming revenue payable to the Company, with a guaranteed minimum, as well as retail sportsbook options to be exercised at the Company’s discretion. Sports betting is expected to begin in Missouri in the fourth quarter of 2025.
Caruthersville, Missouri – Since the opening of the new casino and hotel on November 1, 2024, net operating revenue and Adjusted EBITDAR** have increased 26% and 31% respectively.
Poland – The Company was awarded a second license in the city of Wroclaw in March 2025. The Company expects to open the casino in the fourth quarter of 2025. The Company was notified in June 2025 that it had not received a new license for a second casino in Warsaw and closed the casino at the Hilton Hotel. The license for the Company’s flagship casino in Warsaw at The Presidential Hotel runs through 2028.
Strategic Review Process – The Company’s Board of Directors (the “Board”) has initiated a comprehensive strategic review of its operations, capital structure and strategic growth options. 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, optimize the Company’s capital structure, evaluate potential mergers, strategic partnerships, or the sale of the Company, and to analyze potential divestments of assets or other asset-level transactions. In connection with this review, the Company has engaged Faegre Drinker Biddle & Reath LLP as legal counsel and Macquarie Capital as financial advisor.
This review follows the Company’s recent substantial capital expenditure program and solid operational performance in the second quarter of 2025 and reflects the Board’s proactive approach to positioning the Company for future success in an evolving market landscape. The Board has not set a timetable for the conclusion of this review. At this stage, 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 the Company’s 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.
The post Century Casinos, Inc. Announces Second Quarter 2025 Results appeared first on Gaming and Gambling Industry in the Americas.
VICI Properties Inc., an experiential real estate investment trust, reported results for the quarter ended September 30, 2023.
Third Quarter 2023 Financial and Operating Highlights
- Total revenues increased 20.3% year-over-year to $904.3 million
- Net income attributable to common stockholders increased year-over-year to $556.3 million from $330.9 million and, on a per share basis, increased year-over-year to $0.55 from $0.34
- AFFO attributable to common stockholders increased 16.4% year-over-year to $547.6 million and, on a per share basis, increased 10.7% year-over-year to $0.54
- Weighted average shares outstanding increased 5.1% year-over-year
- Completed the Rocky Gap Casino Resort acquisition with Century Casinos and acquired the real estate of Century Casinos’ four gaming properties in Alberta, Canada
- Expanded the partnership with Canyon Ranch through a preferred equity investment, a mortgage loan and call rights to acquire Canyon Ranch Tucson and Canyon Ranch Lenox
- Declared a quarterly cash dividend of $0.415 per share, representing a 6.4% year-over-year increase
- Ended the quarter with $510.9 million in cash and cash equivalents and $807.2 million of estimated available forward sale equity proceeds
- Increased AFFO guidance for full year 2023 to between $2,170 million and $2,180 million, or between $2.14 and $2.15 per diluted share
- Subsequent to quarter end, entered the family entertainment sector through the acquisition of 38 bowling entertainment centers in a sale-leaseback transaction with Bowlero.
Edward Pitoniak, CEO of VICI Properties, said: “VICI’s third quarter financial performance reflects our sustained, sustainable commitment to accretive growth and capital deployment through acquisitions and strategic financing activity, exemplified by approximately 20% revenue growth and nearly 11% growth in AFFO per share year-over-year. During the quarter, in addition to closing Rocky Gap and announcing the expansion of our Canyon Ranch Growth Partnership, we expanded our international presence through closing the acquisition of four casino properties in Alberta, Canada with our existing tenant and partner, Century Casinos.
“Subsequent to quarter end, we entered into a new experiential sector with Bowlero, the market leader in reinvigorating the programming and economics of the bowling experience through their innovative consolidation and growth model. In this partnership, we acquired 38 Bowlero properties and concurrently bolstered our embedded growth pipeline by obtaining a right of first offer to acquire current or future Bowlero real estate in the coming years through sale-leaseback transactions. We also expanded our presence in 11 new states and added another publicly traded tenant to our roster. VICI’s differentiation stems from our commitment to partnering with operators who define their respective experiential categories, as Bowlero has done with the bowling experience.”
Third Quarter 2023 Financial Results
Total Revenues
Total revenues were $904.3 million for the quarter, an increase of 20.3% compared to $751.5 million for the quarter ended September 30, 2022. Total revenues for the quarter included $131.3 million of non-cash leasing and financing adjustments and $18.2 million of other income.
Net Income Attributable to Common Stockholders
Net income attributable to common stockholders was $556.3 million for the quarter, or $0.55 per share, compared to $330.9 million, or $0.34 per share, for the quarter ended September 30, 2022.
Century Casinos Inc. announced that it will attend the Jefferies 12th Annual Winter Restaurant, Foodservice, Gaming, Lodging & Leisure Summit in Bachelor Gulch in Avon, Colorado, USA, on January 23, 2023.
Peter Hoetzinger, President & Co CEO, will present the Company and hold one-on-one meetings with selected institutional investors.
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Century Casinos, Inc., announced that bet365 went live with its internet and mobile sports betting application using one of the Company’s master licenses with the State of Colorado.
The online sportsbook operations agreement with bet365 is a 10-year agreement that includes a minimum annual revenue guarantee and a percentage share of net gaming revenue payable to the Company each year, with an advance fee, which was paid at contract signing in May 2020.
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