olivLaw · US equity research
Century Casinos, Inc. CNTY
Hotels & Motels · SIC 7011 · Vertical: Hotels & Motels (SIC 7011)
Century Casinos is a casino operator with activities in North America and Poland, also running hotels, restaurants and racetracks. The company is currently in a strategic review of its assets and capital structure, and revenue has stayed broadly stable in recent years while the Nugget in Reno grew visibly in 2026. Sources:.
At the close of 04 Nov 2026, Century Casinos, Inc. (CNTY) stock was 0.60 USD (+5.14% on the day), with market capitalisation 16.9 m USD, beta 0.96, 52-week range 0.52–1.99 USD. Latest reported quarter (Q2 2026): revenue of 152.0 m USD (+0.8% YoY), net income of -10.9 m USD, diluted EPS -0.39 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 23.3
- oversold (≤ 30)
- Bollinger (20, 2)
- 0.53 – 0.94
- in the lower half of the band · %B 0.17 · band width 56.2%
- SMA 50 / 200
- 0.98 / 1.30
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.12 / -0.11
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −41.8% | −1.1% | −40.7 pp | — |
| 3 months | −49.6% | −0.5% | −49.2 pp | — |
| 6 months | −57.5% | +4.4% | −61.9 pp | — |
| Year to date | −54.9% | +12.3% | −67.3 pp | — |
| 1 year | −67.8% | +13.5% | −81.3 pp | +9.5% |
| 3 years | −87.4% | +76.4% | −163.8 pp | +9.3% |
| 5 years | −96.2% | +63.7% | −159.9 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 155.7 m | 137.8 m | 130.4 m | 150.8 m | 153.7 m | 138.0 m | 137.2 m | 152.0 m |
| Operating income | 17.9 m | -62.6 m | 7.1 m | 16.6 m | 17.1 m | 10.4 m | 11.8 m | 17.2 m |
| Depreciation & amortisation | 12.5 m | 12.7 m | 12.4 m | 12.8 m | 12.8 m | 12.9 m | 13.0 m | 13.0 m |
| Interest expense | 25.9 m | 25.9 m | 26.0 m | 26.2 m | 26.4 m | 26.1 m | 25.9 m | 25.9 m |
| Pre-tax income | -7.1 m | -87.8 m | -18.4 m | -8.3 m | -9.0 m | -15.5 m | -13.9 m | -8.7 m |
| Income tax | -334.0 k | 1.3 m | 481.0 k | 1.3 m | 423.0 k | 593.0 k | 909.0 k | 625.0 k |
| Net income | -8.1 m | -90.3 m | -20.6 m | -12.3 m | -10.5 m | -17.9 m | -16.5 m | -10.9 m |
| Diluted EPS | -0.26 | -2.94 ≈ | -0.67 | -0.40 | -0.35 | -0.61 ≈ | -0.58 | -0.39 |
| Operating cash flow | 7.4 m ≈ | -2.3 m | -4.6 m | 11.3 m ≈ | 144.0 k ≈ | -114.0 k | -1.3 m | 8.6 m ≈ |
| Capex | 10.2 m ≈ | 14.7 m | 6.7 m | 5.8 m ≈ | 4.9 m ≈ | 4.6 m | 2.7 m | 3.1 m ≈ |
| Share repurchases | — | — | — | — | 1.5 m ≈ | 1.5 m | 411.0 k | 477.0 k ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 168.9 m | 218.2 m | 304.3 m | 388.5 m | 430.5 m | 550.2 m | 575.9 m | 573.0 m |
| Revenue YoY | +9.7% | +29.2% | +39.4% | +27.7% | +10.8% | +27.8% | +4.7% | −0.5% |
| Net income | 3.4 m | -19.2 m | -48.0 m | 20.6 m | 8.0 m | -28.2 m | -153.6 m | -61.4 m |
| Net income YoY | −45.8% | −664.4% | unavailable | unavailable | −61.3% | −453.5% | unavailable | unavailable |
| Diluted EPS | 0.11 | -0.65 | -1.62 | 0.66 | 0.25 | -0.93 | -5.02 | -2.04 |
| Diluted EPS YoY | −54.2% | −690.9% | unavailable | unavailable | −62.1% | −472.0% | unavailable | unavailable |
| net % | 2.0% | -8.8% | -15.8% | 5.3% | 1.9% | -5.1% | -26.7% | -10.7% |
| Free cash flow | -34.4 m | -5.3 m | -1.7 m | 49.2 m | 18.2 m | -35.6 m | -62.5 m | -15.3 m |
Reported results vs expectations
Loading…
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 68.9 m USD
- Financial debt
- 328.9 m USD
- Net debt
- 260.0 m USD
- Equity
- -6.8 m USD
- Total assets
- 1.1 bn USD
- Debt / equity
- unavailable
- Current ratio
- 1.30x
- ROE
- unavailable
- ROA
- -5.2%
- FCF margin
- -2.7%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 304.3 m | 388.5 m | 430.5 m | 550.2 m | 575.9 m | 573.0 m | SEC (XBRL)· 18 Mar 2026verified |
| Operating income | -127.0 k | 68.5 m | 67.6 m | 64.0 m | -22.2 m | 51.3 m | SEC (XBRL)· 18 Mar 2026verified |
| Depreciation & amortisation | 26.5 m | 26.8 m | 27.1 m | 41.0 m | 49.6 m | 50.9 m | SEC (XBRL)· 18 Mar 2026verified |
| EBITDA | 26.4 m ≈ | 95.3 m ≈ | 94.7 m ≈ | 105.1 m ≈ | 27.4 m ≈ | 102.2 m ≈ | SEC (XBRL)· 18 Mar 2026derived |
| Interest expense | 43.1 m | 42.8 m | 65.8 m | 93.9 m | 103.4 m | 104.8 m | SEC (XBRL)· 18 Mar 2026verified |
| Pre-tax income | -43.3 m | 28.1 m | 6.0 m | -23.8 m | -119.9 m | -51.1 m | SEC (XBRL)· 18 Mar 2026verified |
| Income tax | 4.8 m | 6.4 m | -7.7 m | -5.3 m | 26.6 m | 2.7 m | SEC (XBRL)· 18 Mar 2026verified |
| Net income | -48.0 m | 20.6 m | 8.0 m | -28.2 m | -153.6 m | -61.4 m | SEC (XBRL)· 18 Mar 2026verified |
| Diluted EPS | -1.62 | 0.66 | 0.25 | -0.93 | -5.02 | -2.04 | SEC (XBRL)· 18 Mar 2026verified |
| Weighted average diluted shares | 29.6 m | 31.4 m | 31.5 m | 30.3 m | 30.6 m | 30.1 m | SEC (XBRL)· 18 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 63.4 m | 107.8 m | 101.8 m | 171.3 m | 98.8 m | 68.9 m | SEC (XBRL)· 18 Mar 2026verified |
| Inventories | 1.7 m | 1.4 m | 1.5 m | 4.7 m | 3.7 m | 3.5 m | SEC (XBRL)· 18 Mar 2026verified |
| Current assets | 94.6 m | 140.7 m | 228.0 m | 207.0 m | 135.5 m | 104.1 m | SEC (XBRL)· 18 Mar 2026verified |
| Property, plant & equipment, net | 485.2 m | 472.3 m | 464.7 m | 913.6 m | 922.1 m | 902.8 m | SEC (XBRL)· 18 Mar 2026verified |
| Goodwill | 10.9 m | 10.3 m | 9.6 m | 80.6 m | 9.8 m | 10.8 m | SEC (XBRL)· 18 Mar 2026verified |
| Intangibles (excl. goodwill) | 52.8 m | 48.9 m | 44.8 m | 93.2 m | 84.9 m | 77.6 m | SEC (XBRL)· 18 Mar 2026verified |
| Total assets | 680.8 m | 703.4 m | 885.0 m | 1.4 bn | 1.2 bn | 1.1 bn | SEC (XBRL)· 18 Mar 2026verified |
| Accounts payable | 12.9 m | 12.7 m | 15.3 m | 15.3 m | 21.0 m | 16.0 m | SEC (XBRL)· 18 Mar 2026verified |
| Short-term debt | 10.7 m | 4.0 m | 5.3 m | 8.5 m | 6.2 m | 7.6 m | SEC (XBRL)· 18 Mar 2026verified |
| Long-term debt | 173.8 m | 177.5 m | 344.3 m | 324.2 m | 321.9 m | 321.4 m | SEC (XBRL)· 18 Mar 2026verified |
| Current liabilities | 60.2 m | 60.4 m | 65.4 m | 93.6 m | 86.0 m | 79.8 m | SEC (XBRL)· 18 Mar 2026verified |
| Total liabilities | 553.8 m | 553.0 m | 730.8 m | 1.1 bn | 1.1 bn | 1.2 bn | SEC (XBRL)· 18 Mar 2026verified |
| Equity | 127.0 m | 150.4 m | 154.2 m | 214.4 m | 56.6 m | -6.8 m | SEC (XBRL)· 18 Mar 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 9.0 m | 59.2 m | 37.4 m | 24.1 m | -3.3 m | 6.7 m | SEC (XBRL)· 18 Mar 2026verified |
| Capex | 10.7 m | 10.0 m | 19.2 m | 59.6 m | 59.2 m | 22.0 m | SEC (XBRL)· 18 Mar 2026verified |
| Free cash flow | -1.7 m ≈ | 49.2 m ≈ | 18.2 m ≈ | -35.6 m ≈ | -62.5 m ≈ | -15.3 m ≈ | SEC (XBRL)· 18 Mar 2026derived |
| Investing cash flow | -5.3 m | -10.0 m | -103.1 m | -207.0 m | -60.9 m | -22.3 m | SEC (XBRL)· 18 Mar 2026verified |
| Financing cash flow | 3.1 m | -4.7 m | 161.2 m | 149.9 m | -4.4 m | -15.4 m | SEC (XBRL)· 18 Mar 2026verified |
| Share repurchases | — | — | — | — | — | 4.0 m | SEC (XBRL)· 18 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 53 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 16.9 m USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet36
- Valuation56
- Quality12
- Growth83
- Returns100
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 20.23 – 262.96 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)73.09 – 262.96 (Mid 116.25)WACC 5.2% · starting FCFF 79.8 m USD · terminal value share of EV 88%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: no growth between −30% and +40% justifies the price
- Peers: EV/EBITDA20.23 – 53.70 (Mid 33.82)14 companies used · median multiple 11.3x · quartiles 7.7x – 16.4xBYD, CHH, CZR, FLL, HLT, IHG, LVS, MGM, MLCO, PK, TNL, WH, WYNN, XHR
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 53/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -9.6% | 12 (vs peers) | 10% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 10.0% | 83 (on a fixed band) | 14% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | 2.5x | 58 (vs peers) | 17% |
| Interest coverage · Balance sheet | 0.5x | 0 (on a fixed band) | 10% |
| Current ratio · Balance sheet | 1.2x | 33 (on a fixed band) | 7% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | 2.6x | 100 (vs peers) | 17% |
| FCF yield · Valuation | -47.1% | 0 (on a fixed band) | 14% |
| Shareholder yield (distributions) · Returns | 23.2% | 100 (on a fixed band) | 10% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet36/100 · 3/3 factors with a value
- Growth· partial83/100 · 1/2 factors with a value
- Quality· partial12/100 · 1/3 factors with a value
- Returns· partial100/100 · 1/2 factors with a value
- Valuation56/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
CENTURY CASINOS, INC. (CNTY). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 573.0 m USD in 2025; YoY growth -0.5%; net margin -9.6%; net debt/EBITDA 2.5x.
The estimated value range is 46.66–158.33 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 75.04 USD, the price of 0.60 USD leaves a potential of 12,420.6% (value / price − 1) and a margin of safety of 99.2% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 53/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: growth, quality, returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Revenue CAGR 3Y: 10.0%
- EV/EBITDA: 2.6x
- Shareholder yield (distributions): 23.2%
- The price is below the estimated value range
What contradicts it
- Net margin: -9.6%
- Interest coverage: 0.5x
- FCF yield: -47.1%
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, EPS CAGR 3Y, P/E (TTM), Payout ratio (FCF).
Versus the vertical median
Hotels & Motels (SIC 7011) · same industry (4-digit SIC) · compared with 26 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| HTHTH World Group Ltd | 154.3 bn | 218.4 | 41.5% | 20.1% | +10.5% | +9% / +37% |
| MARMarriott International Inc | 109.4 bn | 42.4 | — | 9.7% | +4.3% | +39% / +110% |
| HLTHilton Worldwide Holdings Inc. | 83.8 bn | 50.8 | — | 13.4% | +7.7% | +32% / +125% |
| IHGInterContinental Hotels Group PLC | 29.0 bn | 36.2 | — | 14.6% | +5.4% | +31% / +124% |
| LVSLas Vegas Sands Corp. | 25.5 bn | 16.7 | 262.8% | 11.8% | +15.2% | −40% / −12% |
| ATATAtour Lifestyle Holdings Limited | 14.5 bn | 63.7 | 50.5% | 16.6% | +41.0% | −9% / +97% |
| WYNNWynn Resorts, Limited | 8.5 bn | 19.7 | — | 6.1% | +0.1% | −36% / −2% |
| MGMMGM Resorts International | 8.3 bn | 12.7 | 26.8% | 3.9% | +1.7% | −7% / −17% |
| CZRCaesars Entertainment, Inc. | 6.0 bn | — | -15.1% | -4.5% | +2.1% | +26% / −34% |
| WHWyndham Hotels & Resorts, Inc. | 5.9 bn | 29.8 | 38.2% | 14.0% | +1.5% | +10% / +4% |
| MLCOMelco Resorts & Entertainment Limited | 5.7 bn | 30.6 | — | 3.6% | +11.3% | −48% / −33% |
| BYDBoyd Gaming Corp | 5.5 bn | 11.7 | 19.6% | 12.3% | +4.1% | −7% / +32% |
| CHHChoice Hotels International Inc | 5.4 bn | 26.7 | 146.5% | 12.7% | +0.8% | +32% / +9% |
| TNLTravel & Leisure Co. | 4.7 bn | 20.7 | — | 5.7% | +4.1% | +13% / +118% |
| PKPark Hotels & Resorts Inc. | 3.4 bn | — | -5.0% | -6.4% | −2.2% | +57% / +14% |
| SHOSunstone Hotel Investors, Inc. | 2.4 bn | 54.7 | 2.8% | 5.3% | +6.0% | +39% / +32% |
| PENNPenn Entertainment, Inc. | 2.3 bn | — | -37.4% | -12.7% | +5.8% | +18% / −29% |
| XHRXenia Hotels & Resorts, Inc. | 2.0 bn | 628.9 | 0.3% | 0.3% | +3.8% | +57% / +79% |
| MCRIMonarch Casino & Resort, Inc. | 2.0 bn | 17.9 | 20.4% | 20.4% | +4.4% | +17% / +80% |
| BALYBally’s Corporation | 680.3 m | — | — | — | +0.1% | −23% / unavailable |
| FLLFull House Resorts Inc | 29.1 m | — | -936.4% | -12.1% | +3.5% | −70% / −84% |
| CNTYCentury Casinos, Inc. | 16.9 m | — | — | -9.6% | −0.5% | −68% / −87% |
| RRRRed Rock Resorts, Inc. | — | 29.1 | 60.8% | 5.8% | +3.7% | −17% / +9% |
| MRNOMurano Global Investments Plc | — | — | -54.7% | -488.8% | +154.6% | −88% / −98% |
| HHyatt Hotels Corporation | — | 98.6 | 5.6% | 2.6% | +6.8% | +16% / +66% |
1- and 3-year price returns: for CNTY from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Century Casinos is a casino operator with activities in North America and Poland, also running hotels, restaurants and racetracks. The company is currently in a strategic review of its assets and capital structure, and revenue has stayed broadly stable in recent years while the Nugget in Reno grew visibly in 2026. Sources: 13.
SWOT
Strengths
- A diversified portfolio of casinos across several countries and market types, with betting and iGaming partnerships extending the offer.
- Hotel and entertainment presence at many locations, which can support multi-day visits.
- The rapid recovery of one of its largest US assets indicates operational capacity that could be leveraged.
Weaknesses
- High indebtedness and significant Master Lease rent obligations limit financial flexibility.
- Weak performance in Poland and net losses attributable to shareholders point to operational vulnerabilities.
- The leverage ratio exceeds contractual thresholds, which restricts access to the revolving credit line.
Opportunities
- Expanding sports betting and iGaming in Missouri and Alberta could create additional revenue.
- The outcome of the strategic review could unlock value through portfolio optimization or partnerships.
- A recovery in Poland, which management has signaled, could improve results over the coming quarters.
Threats
- Competition from new casinos in Pennsylvania and Edmonton could reduce visits at some locations.
- An economic slowdown or lower discretionary spending could affect revenue across all segments.
- Regulatory changes or competition from online gaming could reduce market share and margins.
Risks
- Indebtedness and rent obligationshigh
Debt is largely at variable rates and Master Lease rent obligations rise annually, which could limit the ability to fund investments and meet covenants.
- Strategic reviewmedium
No timetable has been set for the review, and the uncertainty could affect retention of staff and relationships with customers and partners.
- Poland performancemedium
Lower revenue and negative results in Poland could continue if table hold remains unfavorable.
- Competition from new casinosmedium
New locations near the company's assets in Maryland and Alberta could reduce its market share.
- Capital expenditurelow
Investments needed to keep properties competitive may be hard to finance under capital constraints.
Investment thesis
What would need to be true (bull case)
- The Nugget in Reno nearly doubled its Adjusted EBITDAR, and if the trend holds it could support growth in consolidated results.
- The strategic review could lead to a transaction that unlocks value for shareholders.
- Expansion of sports betting and iGaming across more states could create a more diversified revenue stream.
What would break the thesis
- High indebtedness and rent obligations could limit financial flexibility if revenue does not grow enough.
- Weak performance in Poland and persistent net losses could keep weighing on consolidated results.
- Uncertainty around the strategic review could discourage staff and customers until the process concludes.
What to watch
- Quarterly results and the pace of recovery in PolandQ3 2026
- Outcome of the strategic review and any announced transaction2026
- Adjusted EBITDAR trend at the Nugget and US West resultsQ3 2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Most of its North American real estate is leased from VICI PropCo under a triple net Master Lease, making rent obligations a central part of the financial structure 1. In August 2025 the board launched a comprehensive strategic review that includes mergers, partnerships or a sale of the company, with no timetable set and no decisions made as of the reports 12.
Market context
The casino market in North America and Poland depends on discretionary spending, local traffic and tourists in peak seasons, and demand can be affected by inflation, taxes and general economic conditions 1. Expanding legal gaming, such as online sports betting in Missouri and the planned iGaming framework in Alberta, opens new revenue but also adds competition 1.
In Poland the number of casino licenses available is large, and state-run slot arcades and online gaming compete directly with licensed operators 1. As of 2026 the company opened a second casino in Wroclaw and closed the Hilton Hotel casino in Warsaw in June 2025 2.
Trends
- Legalization of sports bettingmixed
Sports betting legalized in Missouri from December 2025 and the iGaming framework in Alberta could bring new revenue through partnerships, but also attract additional competitors 12.
- Economic pressure on consumer spendingheadwind
Inflation, tariffs and economic uncertainty could reduce casino visits and discretionary spending, which could weigh on revenue and profitability 12.
- Recovery of the Nugget in Renotailwind
The rapid growth of Adjusted EBITDAR at the Nugget in 2026 points to an operational recovery after the decline that led to goodwill impairment in 2024 13.
- Competition from new venuesheadwind
New casinos opening near the company's assets in Maryland and Alberta could reduce its market share in those regions 1.
Competitive position
The company differentiates through player club programs, racetracks and hotel presence, but in many markets it lacks the scale or name recognition of larger rivals 1. Large North American operators keep competitive pressure highest 1.
- BetMGM
Partner for the Cape Girardeau sportsbook and the Missouri online platform, and also a competitor in sports betting 12.
- Pennsylvania casino operators
A new casino, Happy Valley, could increase competition for Rocky Gap in Maryland 1.
- Reno-Sparks casinos
More than twenty casinos compete in the Reno market, where the Nugget competes for conventions and group bookings 1.
- Warsaw and other Polish city casinos
Local competition in Poland is intense, and street slot arcades and state online gaming add to the pressure 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Archaeologists uncover possible 19th-century castaway camp on island 'at the end of the world'Phys.org · 05 Nov 2026 · EN
- Historic duck DNA traces wild mallard genetic changes to more than a century of releasesPhys.org · 05 Nov 2026 · EN
- Ex-Politburo member Ma Xingrui’s corruption charges extend to end of last centurySouth China Morning Post — China · 05 Nov 2026 · EN
- America’s midterms: History rhymes half a century laterThe Japan Times · 05 Nov 2026 · EN
- Scientists Crack Secret Code of Lock From Treasure-Laden 16th-Century ShipwreckGreek Reporter (GR, EN) · 04 Nov 2026 · EN
- Historic 20th-century architectural monument destroyed in Russian strike on SlovianskUkrainska Pravda (UA, EN) · 04 Nov 2026 · EN
- Kansas elects first Democratic senator in almost a centuryAl Jazeera English · 04 Nov 2026 · EN
- Adam Hamilton becomes the first Democratic senator from Kansas in nearly a centuryNPR News · 04 Nov 2026 · EN
- US wildfire damage is on pace to triple by mid‑century, but there are affordable ways to lower the riskPhys.org · 03 Nov 2026 · EN
- Boat burial reveals leprosy strain in fifth-century GermanyPhys.org · 03 Nov 2026 · EN
- Restored stitched board of 17-century Pomor boat to be displayed in ArkhangelskTASS (RU, EN) · 03 Nov 2026 · EN
- Half a century later : Remembering Jimmy Carter historic 1976 presidential victorySurge — GDELT DOC · 03 Nov 2026 · RO
- Historical records reveal the bitter truth about 17th-century Transylvania's climatePhys.org · 02 Nov 2026 · EN
- Warning: Lake Balaton could split into three separate bodies of water by the end of the centuryDaily News Hungary (HU, EN) · 02 Nov 2026 · EN
- Cirrus Built The SR22 With A Whole-Airplane Parachute & Now It Is The Best-Selling Piston Single Of The CenturySimple Flying · 01 Nov 2026 · EN
- The Greeks of Utah: History Spanning More Than a CenturyGreek Reporter (GR, EN) · 01 Nov 2026 · EN
- OTS Ankara summit: Building Turkic centuryDaily Sabah — Economy (TR, EN) · 01 Nov 2026 · EN
- Pakistan beat Sri Lanka as Zaman’s century turns thrilling tri-series finalAl Jazeera English · 31 Oct 2026 · EN
- 17th-century sleuths in the dock for witchcraft and wizardryPhys.org · 30 Oct 2026 · EN
- Erdoğan calls for Turkic unity to usher in 'Century of Türkiye'Daily Sabah — Economy (TR, EN) · 29 Oct 2026 · EN
SEC filings
- Current report23 Oct 2026Delisting notice
- Current report29 Sept 2026Material agreement · Regulation FD disclosure · Financial statements and exhibits
- Current report07 Aug 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report07 Aug 2026
- Current report23 Jun 2026Shareholder vote · Financial statements and exhibits
- Current report28 May 2026Item 4.01 · Financial statements and exhibits
- Current report13 May 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Current report08 May 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report08 May 2026
- Current report07 May 2026Departure or appointment of officers · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Century Casinos, Inc. · 18 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Century Casinos, Inc. · 07 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Century Casinos, Inc. · 07 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.