Century Casinos has announced a 3% uptick in net operating revenue for Q2 2025, totaling $150.8 million. This growth is primarily driven by the success of its operations in the United States and Poland. However, the firm reported a net loss of $12.3 million for shareholders, a substantial decrease compared to the $41.6 million loss recorded during the same timeframe last year.
Earnings from operations surged 16% year-over-year, reaching $16.6 million, while adjusted EBITDAR saw a 10% increase to $30.3 million. The bulk of the net loss was linked to the Corporate and Other segment, which faced a $12.7 million deficit for the quarter.
In terms of performance by region, the U.S. led with revenue generation of $106.1 million, showing little change from prior year figures. Poland exhibited the most significant growth, with a 23% increase, amounting to $24.7 million. Canada also experienced slight growth of 1%, resulting in $20 million.
Profitability varied across segments. Poland’s net earnings saw a remarkable surge, hitting $245,000, which reflects a 713% increase. The U.S. segment decreased its net loss by an impressive 98% to $487,000, whereas Canada experienced a 41% drop in net earnings to $599,000.
During the latest quarter, Century closed its Hilton Hotel casino in Warsaw due to a license denial but successfully secured a new license in Wroclaw, with plans for the new casino to launch in Q4. The operations in Warsaw at The Presidential Hotel remain intact under a license valid until 2028.
In the U.S., Century Casinos is gearing up to enter Missouri’s online sports betting market in partnership with BetMGM. The launch of legal betting is anticipated in the final quarter of 2025. Additionally, the Caruthersville property in Missouri, which debuted in November 2024, showed a remarkable 26% increase in net operating revenue and a 31% growth in adjusted EBITDAR.
As queries from external parties about possible asset sales and strategic alliances have arisen, Century’s board has initiated a strategic review. This process aims to explore various options, including divestitures, mergers, or even a potential sale of the company. They have enlisted the legal expertise of Faegre Drinker Biddle & Reath LLP and the financial counsel of Macquarie Capital to facilitate the review.
“The review will evaluate numerous strategic alternatives for the company’s assets and business ventures to enhance shareholder value and promote long-term growth,” the firm’s statement conveyed.
Co-CEOs Erwin Haitzmann and Peter Hoetzinger
Co-CEOs Erwin Haitzmann and Peter Hoetzinger remarked: “We are excited about the robustness and forward momentum across our portfolio, which has demonstrated consistent year-over-year growth while generating positive cash flow during the quarter.”
Currently, Century Casinos operates seven establishments in the U.S., four in Canada, and maintains a 66.6% ownership stake in Casinos Poland, which encompasses five locations. As of June 30, 2025, the company held $85.5 million in cash and equivalents while reporting $338.1 million in outstanding debt.