8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 6, 2021

CENTURY CASINOS, INC.

(Exact Name of Registrant as specified in its charter)

Delaware	0-22900	84-1271317
(State or other jurisdiction	(Commission	(I.R.S. Employer
of incorporation)	File Number)	Identification Number)

455 E. Pikes Peak Ave., Suite 210, Colorado Springs, Colorado	80903
(Address of principal executive offices)	(Zip Code)
Registrant’s telephone number, including area code:	719-527-8300

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.01 Per Share Par Value	CNTY	Nasdaq Capital Market, Inc.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

‎

Item 2.02 Results of Operations and Financial Condition.

On May 7, 2021, Century Casinos, Inc., a Delaware corporation (the “Company”), issued a press release reporting its financial results for the first quarter of 2021. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report.

Item 7.01 Regulation FD Disclosure.

The Company is furnishing as Exhibit 99.2 a presentation to be used in connection with the Company’s first quarter of 2021 earnings conference call on Friday, May 7, 2021, and for future meetings with investors, stockholders and analysts.

The information in this report and Exhibits 99.1 and 99.2 attached hereto (i) is being furnished and shall not be deemed “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and (ii) shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

This report (including Exhibits 99.1 and 99.2) may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Factors that could cause the Company’s actual results to differ materially from those described in the forward-looking statements can be found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, that have been filed with the Securities and Exchange Commission. The Company does not undertake to update the forward-looking statements to reflect the impact of circumstances or events that may arise after the date of the forward-looking statements.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Description
99.1	Century Casinos, Inc. Press Release dated May 7, 2021
99.2	Century Casinos, Inc. Investor Presentation dated May 7, 2021
104	Cover Page Interactive Data File, formatted in Inline XBRL

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Century Casinos, Inc.

Date: May 6, 2021

By: /s/ Margaret Stapleton

Margaret Stapleton

Chief Financial Officer

EX-99.1

May 7, 2021

PRESS RELEASE

Century Casinos, Inc. Announces First Quarter 2021 Results

Colorado Springs, Colorado–  May 7, 2021 – Century Casinos, Inc. (Nasdaq Capital Market®: CNTY) today announced its financial results for the three months ended March 31, 2021.  

First Quarter 2021Highlights*

· Net operating revenue was $72.4 million, a decrease of 17% from the three months ended March 31, 2020.

· Earnings from operations was $8.2 million, an increase of 126% from the three months ended March 31, 2020.

· Net loss attributable to Century Casinos, Inc. shareholders was ($1.4) million, a change of 97% from the three months ended March 31, 2020.

· Adjusted EBITDA** was $14.7 million, an increase of 53% from the three months ended March 31, 2020.

· Loss per share was ($0.05).

· Book value per share*** at March 31, 2021 was $3.99.

COVID-19 Update

In late 2019, an outbreak of COVID-19 was identified in China and has since spread throughout much of the world. The COVID-19 pandemic has had an adverse effect on the Company’s 2020 and first quarter 2021 results of operations and financial condition and the Company expects this situation will continue to have an adverse impact on its results in 2021. The duration and ultimate impact of the COVID-19 pandemic otherwise remains uncertain.

The Company’s Canada properties are currently closed. Its Poland casinos closed most recently on March 20, 2021 and are expected to reopen on May 8, 2021. The Company’s casinos in the United States have been open since June 2020 but have been required to vary their operations based on the governmental health and safety requirements in the jurisdictions in which they are located.

* Amounts presented are rounded. As such, rounding differences could occur in period over period changes and percentages reported.

** Adjusted EBITDA and Adjusted EBITDA margin are Non-US GAAP financial measures. See discussion and reconciliation of Non-US GAAP financial measures in Supplemental Information below.

*** The Company defines book value per share as total Century Casinos, Inc. shareholders’ equity divided by outstanding common shares.

The consolidated results for the three months ended March 31, 2021 and 2020 are as follows:

	For the three months
Amounts in thousands, except per share data	ended March 31,
Consolidated Results:			2021		2020	% Change
Net Operating Revenue		$	72,415	$	87,656	(17%)
Earnings (Loss) from Operations			8,248		(31,772)	126%
Net Loss Attributable to Century Casinos, Inc. Shareholders		$	(1,419)	$	(45,856)	97%
Adjusted EBITDA**		$	14,744	$	9,644	53%
Loss Per Share Attributable to Century Casinos, Inc. Shareholders:
Basic and Diluted		$	(0.05)	$	(1.55)	97%

“We are pleased with the strong Adjusted EBITDA for the first quarter, driven almost exclusively by our properties in the US because our properties in Canada were closed for the entire quarter and our casinos in Poland were closed for most of the quarter. We estimate the negative impact of these closures to Adjusted EBITDA was at least $6.7 million,” Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos remarked. “For the third quarter in a row, we have been able to achieve high operating margins and we believe that will continue to be attainable. We look forward to the reopening of our casinos in Poland on May 8, our casinos and racetracks reopening in Canada and to a busy summer season in North America as the pandemic subsides,” Messrs. Haitzmann and Hoetzinger concluded.

Reportable Segment  Results*

The table below shows the Company’s reporting units and operating segments that are included in each of the Company’s reportable segments as of March 31, 2021:

Reportable Segment	Operating Segment	Reporting Unit
United States	Colorado	Century Casino & Hotel - Central City
		Century Casino & Hotel - Cripple Creek
	West Virginia	Mountaineer Casino, Racetrack & Resort
	Missouri	Century Casino Cape Girardeau
		Century Casino Caruthersville
Canada	Edmonton	Century Casino & Hotel - Edmonton
		Century Casino St. Albert
		Century Mile Racetrack and Casino
	Calgary	Century Downs Racetrack and Casino
		Century Sports
		Century Bets! Inc.
Poland	Poland	Casinos Poland
Corporate and Other	Corporate and Other	Cruise Ships & Other
		Corporate Other

* Amounts presented are rounded. As such, rounding differences could occur in period over period changes and percentages reported.

** Adjusted EBITDA and Adjusted EBITDA 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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The Company’s net operating revenue decreased by ($15.2) million, or (17%),for the three months ended March 31, 2021,  compared to the three months ended March 31, 2020.  Following is a summary of the changes in netoperating revenue by reportable segmentfor the three months ended March 31, 2021,  compared to the three months ended March 31, 2020:

	Net Operating Revenue
	For the three months
	ended March 31,
Amounts in thousands	2021		2020		$ Change		% Change
United States	$	64,371	$	53,427	$	10,944	20%
Canada		2,011		16,187		(14,176)	(88%)
Poland		5,910		17,062		(11,152)	(65%)
Corporate and Other		123		980		(857)	(87%)
Consolidated	$	72,415	$	87,656	$	(15,241)	(17%)

The Company’searnings from operations increased by $40.0 million, or 126%,for the three months ended March 31, 2021,  compared to the three months ended March 31, 2020.  Following is a summary of the changes in earnings (loss) from operations by reportable segment for the three months ended March 31, 2021,  compared to the three months ended March 31, 2020:  

	Earnings (Loss) from Operations
	For the three months
	ended March 31,
Amounts in thousands	2021		2020		$ Change		% Change
United States	$	17,529	$	(25,091)	$	42,620	170%
Canada		(3,820)		(1,678)		(2,142)	(128%)
Poland		(3,360)		294		(3,654)	(1243%)
Corporate and Other		(2,101)		(5,297)		3,196	60%
Consolidated	$	8,248	$	(31,772)	$	40,020	126%

Net loss attributable to Century Casinos, Inc. shareholders decreased by $44.4 million, or 97%,for the three months ended March 31, 2021,  compared tothe three months ended March 31, 2020.  Following is a summary of the changes in net earnings (loss)attributable to Century Casinos, Inc. shareholders by reportable segmentfor the three months ended March 31, 2021,  compared to the three months ended March 31, 2020:  

	Net Earnings (Loss) Attributable to Century Casinos, Inc. Shareholders
	For the three months
	ended March 31,
Amounts in thousands	2021		2020		$ Change		% Change
United States	$	10,594	$	(34,219)	$	44,813	131%
Canada		(3,512)		(4,408)		896	20%
Poland		(1,835)		31		(1,866)	(6019%)
Corporate and Other		(6,666)		(7,260)		594	8%
Consolidated	$	(1,419)	$	(45,856)	$	44,437	97%

* Amounts presented are rounded. As such, rounding differences could occur in period over period changes and percentages reported.

** Adjusted EBITDA and Adjusted EBITDA 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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Items deducted from or added to earnings from operations to arrive at net earnings (loss) attributable to Century Casinos, Inc. shareholdersinclude interest income, interest expense, gains (losses) on foreign currency transactions and other, income tax expenseand non-controlling interests.

Adjusted EBITDA** increased by $5.1 million, or 53%,for the three months ended March 31, 2021 compared to the three months ended March 31, 2020.  Following is a summary of the changes in Adjusted EBITDA** by reportable segment for thethree months ended March 31, 2021 compared to the three months ended March 31, 2020:

	Adjusted EBITDA**
	For the three months
	ended March 31,
Amounts in thousands	2021		2020		$ Change		% Change
United States	$	22,127	$	8,757	$	13,370	153%
Canada		(2,485)		3,034		(5,519)	(182%)
Poland		(2,567)		1,059		(3,626)	(342%)
Corporate and Other		(2,331)		(3,206)		875	27%
Consolidated	$	14,744	$	9,644	$	5,100	53%

Balance Sheet and Liquidity

As of March 31, 2021, the Company had $66.0 million in cash and cash equivalents and  $184.4million in outstanding debt on its balance sheet compared to $63.4 million in cash and cash equivalents and $184.6million in outstanding debt at December 31, 2020.  The outstanding debt as of March 31, 2021included$167.9 million related to the Company’s credit agreement with Macquarie Capital (“Macquarie”),  $1.0 million of bank debt related to Casinos Poland, $8.9 million of bank debt related to Century Resorts Management GmbH (“CRM”), and$15.5 million related to a long-term land leasefor Century Downs Racetrack and Casino (“CDR”), net of $8.9 million in deferred financing costs.The Company also has a $279.3 million long-term financing obligation under its triple net master lease (“Master Lease”).

Conference Call Information

Today the Company will post a copy of its quarterlyreport on Form 10-Q filed with the SEC for the quarterended March 31, 2021on its website atwww.cnty.com/investor/financials/sec-filings/. The Company will also post a presentation of the first quarter results on its website atwww.cnty.com/investor/presentations/.

The Company will host its firstquarter 2021earnings conference call today,  Friday,  May 7,at 8:00 am MDT. U.S. domestic participants should dial 1-844-244-9160. For all international participants, please use 330-931-4670 to dial-in. Participants may listen to the call live at centurycasinos.adobeconnect.com/earningsreleaseor obtain a recording of the call on the Company’s website until May 31, 2021atwww.cnty.com/investor/financials/sec-filings/.

* Amounts presented are rounded. As such, rounding differences could occur in period over period changes and percentages reported.

** Adjusted EBITDA and Adjusted EBITDA 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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CENTURY CASINOS, INC. AND SUBSIDIARIES

UNAUDITED FINANCIAL INFORMATION – US GAAP BASIS

Condensed Consolidated Statements of Loss

	For the three months
	ended March 31,
Amounts in thousands, except for per share information		2021		2020
Operating revenue:
Net operating revenue		$	72,415	$	87,656
Operating costs and expenses:
Total operating costs and expenses			64,167		119,428
Earnings (loss) from operations			8,248		(31,772)
Non-operating (expense) income, net			(10,052)		(11,365)
Loss before income taxes			(1,804)		(43,137)
Income tax provision			(99)		(2,524)
Net loss			(1,903)		(45,661)
Net loss (earnings) attributable to non-controlling interests			484		(195)
Net loss attributable to Century Casinos, Inc. shareholders		$	(1,419)	$	(45,856)
Loss per share attributable to Century Casinos, Inc. shareholders:
Basic		$	(0.05)	$	(1.55)
Diluted		$	(0.05)	$	(1.55)
Weighted average common shares
Basic			29,576		29,507
Diluted			29,576		29,507

Condensed Consolidated Balance Sheets
	March 31,		December 31,
Amounts in thousands	2021		2020
Assets
Current assets	$	93,166	$	94,622
Property and equipment, net		482,495		485,248
Other assets		98,144		100,890
Total assets	$	673,805	$	680,760
Liabilities and Equity
Current liabilities	$	55,827	$	60,163
Non-current liabilities		492,547		493,614
Century Casinos, Inc. shareholders' equity		118,010		118,154
Non-controlling interests		7,421		8,829
Total liabilities and equity	$	673,805	$	680,760

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CENTURY CASINOS, INC. AND SUBSIDIARIES

UNAUDITED SUPPLEMENTAL INFORMATION

Adjusted EBITDA Margins **

	For the three months
	ended March 31,
	2021	2020
United States	34%	16%
Canada	(124%)	19%
Poland	(43%)	6%
Corporate and Other	(1895%)	(327%)
Consolidated Adjusted EBITDA Margin	20%	11%

Reconciliation of Adjusted EBITDA* to Net Earnings (Loss) Attributable to Century Casinos, Inc. Shareholders by Reportable Segment.  

	For the three months ended March 31, 2021
Amounts in thousands			United States		Canada		Poland		Corporate and Other		Total
Net earnings (loss) attributable to Century Casinos, Inc. shareholders		$	10,594	$	(3,512)	$	(1,835)	$	(6,666)	$	(1,419)
Interest expense (income), net (1)			6,935		307		4		3,276		10,522
Income taxes (benefit)			—		(409)		(606)		1,114		99
Depreciation and amortization			4,525		1,222		793		103		6,643
Net earnings (loss) attributable to non-controlling interests			—		432		(916)		—		(484)
Non-cash stock-based compensation			—		—		—		259		259
Gain on foreign currency transactions, cost recovery income and other			—		(557)		(7)		(417)		(981)
Loss on disposition of fixed assets			73		32		—		—		105
Adjusted EBITDA		$	22,127	$	(2,485)	$	(2,567)	$	(2,331)	$	14,744

(1) Expense of $6.9 million related to the Master Lease is included in interest expense (income), net in the United States segment. Expense of $0.4 million related to the CDR land lease is included in interest expense (income), net in the Canada segment. Cash payments related to the Master Lease and CDR land lease were $4.2 million and $0.3 million, respectively, for the period presented.

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CENTURY CASINOS, INC. AND SUBSIDIARIES

UNAUDITED SUPPLEMENTAL INFORMATION

Reconciliation of Adjusted EBITDA* to Net (Loss) Earnings Attributable to Century Casinos, Inc. Shareholders by Reportable Segment.

	For the three months ended March 31, 2020
Amounts in thousands			United States		Canada		Poland		Corporate and Other		Total
Net (loss) earnings attributable to Century Casinos, Inc. shareholders		$	(34,219)	$	(4,408)	$	31	$	(7,260)	$	(45,856)
Interest expense (income), net (1)			7,281		543		31		3,511		11,366
Income taxes (benefit)			1,847		2,071		45		(1,439)		2,524
Depreciation and amortization			4,259		1,337		763		136		6,495
Net earnings attributable to non-controlling interests			—		180		15		—		195
Non-cash stock-based compensation			—		—		—		(14)		(14)
(Gain) loss on foreign currency transactions and cost recovery income			—		(64)		172		645		753
Impairment - intangible and tangible assets (2)			29,589		3,375		—		1,000		33,964
Loss on disposition of fixed assets			—		—		2		2		4
Acquisition costs			—		—		—		213		213
Adjusted EBITDA		$	8,757	$	3,034	$	1,059	$	(3,206)	$	9,644

(1) Expense of $7.3 million related to the Master Lease is included in interest expense (income), net in the United States segment. Expense of $0.5 million related to the CDR land lease is included in interest expense (income), net in the Canada segment. Cash payments related to the Master Lease and CDR land lease were  $6.2million and $0.5 million, respectively, for the period presented.

(2) Expense of $29.6 million and $3.4 million is included in the United States and Canada segments, respectively, related to the impairment of goodwill and intangible assets. Expense of $1.0 million is included in the Corporate and Other segment related to the impairment of the Mendoza Central Entretenimientos S.A. investment.

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CENTURY CASINOS, INC. AND SUBSIDIARIES

UNAUDITED SUPPLEMENTAL INFORMATION

*The Company defines Adjusted EBITDA as net earnings (loss) attributable to Century Casinos, Inc. shareholders before interest expense (income), net, income taxes (benefit), depreciation and amortization, non-controlling interests net earnings (loss) and transactions, pre-opening expenses, acquisition costs, non-cash stock-based compensation charges, asset impairment costs, (gain) loss 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. Expense related to the Master Lease and CDR land lease is included in the interest expense (income), net line item. Intercompany transactions consisting primarily of management and royalty fees and interest, along with their related tax effects, are excluded from the presentation of net earnings (loss) attributable to Century Casinos, Inc. shareholders and Adjusted EBITDA 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 US GAAP. Adjusted EBITDA is not considered a measure of performance recognized under US GAAP. Management believes that Adjusted EBITDA is a valuable measure of the relative performance of the Company and its properties. The gaming industry commonly uses Adjusted EBITDA as a method of arriving at the economic value of a casino operation. Management uses Adjusted EBITDA to compare the relative operating performance of separate operating units by eliminating the above-mentioned items associated with the varying levels of capital expenditures for infrastructure required to generate revenue and the often high cost of acquiring existing operations. Adjusted EBITDA is used by the Company’s lending institution to gauge operating performance. The Company’s computation of Adjusted EBITDA may be different from, and therefore may not be comparable to, similar measures used by other companies within the gaming industry. Please see the reconciliation of Adjusted EBITDA to net earnings (loss) attributable to Century Casinos, Inc. shareholders above.

** The Company defines Adjusted EBITDA margin as Adjusted EBITDA divided by net operating revenue. Adjusted EBITDA margin is a non-US GAAP measure. Management uses this margin as one of several measures to evaluate the efficiency of the Company’s casino operations.

About Century Casinos, Inc.:

Century Casinos, Inc. is a casino entertainment company. The Company owns and operates Century Casino & Hotels in Cripple Creek and Central City, Colorado, and in Edmonton, Alberta, Canada; the Century Casino in Cape Girardeau and Caruthersville, Missouri, and in St. Albert, Alberta, Canada; Mountaineer Casino, Racetrack & Resort in New Cumberland, West Virginia; the Century Mile Racetrack and Casino (“CMR”) in Edmonton, Alberta, Canada; and Century Bets! Inc. (“CBS”). CBS and CMR operate the pari-mutuel off-track horse betting networks in southern and northern Alberta, respectively. Through its Austrian subsidiary, CRM, the Company holds a 66.6% ownership interest in Casinos Poland Ltd., the owner and operator of eight casinos throughout Poland; and a 75% ownership interest in Century Downs Racetrack and Casino in Calgary, Alberta, Canada. The Company operates one ship-based casino. The Company, through CRM, also owns a 7.5% interest in, and provides consulting services to, Mendoza Central Entretenimientos S.A., a company that provides gaming-related services to Casino de Mendoza in Mendoza, Argentina. The Company continues to pursue other projects in various stages of development.

Century Casinos’ common stock trades on The Nasdaq Capital Market® under the symbol CNTY.

For more information about Century Casinos, visit our website at www.cnty.com.  

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CENTURY CASINOS, INC. AND SUBSIDIARIES

UNAUDITED SUPPLEMENTAL INFORMATION

This release 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. These statements are based on the beliefs and assumptions of the management of Century Casinos based on information currently available to management. Such forward-looking statements include, but are not limited to, statements regarding future results of operations, including statements about operating margins,the impact of the current coronavirus (COVID-19) pandemic,  estimates of the financial impact of COVID-19 and timing for reopening of our properties and a reduction in the impact of COVID-19, the adequacy of cash flows from operations and available cash to meet our future liquidity needs, particularly if we cannot operate our casinos due to COVID-19 or their operations are restricted, operating efficiencies, synergies and operational performance, the prospects for and timing and costs of new projects, projects in development and other opportunities, our credit agreement with Macquarie and obligations under our Master Lease and our ability to repay our debt and other obligations, investments in joint ventures, outcomes of legal proceedings, changes in our tax provisions or exposure to additional income tax liabilities, and plans for our casinos and our Company. 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 in our Annual Report on Form 10-K for the year ended December 31,2020,and in subsequent periodic and current SEC filings we may make. Century Casinos disclaims any obligation to revise or update any forward-looking statement that may be made from time to time by it or on its behalf.

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EX-99.2

Exhibit 99.2

CENTURY CASINOS, INC.Financial ResultsQ1 2021CENTURY CASINOS 1

Forward-Looking Statements,Business Environment and Risk Factors 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 (the “Exchange Act”), and the Private Securities Litigation Reform Act of 1995. In addition, 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 future results of operations, including statements about operating margins, the impact of the current coronavirus (COVID-19) pandemic, estimates of the financial impact of COVID-19 and timing for reopening of our properties and a reduction in the impact of COVID-19, the adequacy of cash flows from operations and available cash to meet our future liquidity needs, particularly if we cannot operate our casinos due to COVID-19 or their operations are restricted, operating efficiencies, synergies and operational performance, the prospects for and timing and costs of new projects, projects in development and other opportunities, the credit agreement with Macquarie (as defined herein) and obligations under our Master Lease (as defined herein) and the ability to repay debt and other obligations, investments in joint ventures, outcomes of legal proceedings, changes in our tax provisions or exposure to additional income tax liabilities, and plans for our casinos and our Company. These statements are often identified by the use of words such as “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “could,” “estimate,” 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 in our Annual Report on Form 10-K for the year ended December 31, 2020 (the “2020 Annual Report”) and our 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.CENTURY CASINOS 2

Notes on Presentation 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.Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. See Appendix A for the definition and reconciliation of Adjusted EBITDA and Adjusted EBITDA margin.Amounts presented are rounded. As such, rounding differences could occur in period-over-period changes and percentages reported throughout this presentation.The names of the Company’s subsidiaries and certain operating segments are abbreviated on certain of the following slides. See Appendix A for a list of the subsidiaries and their abbreviations.CENTURY CASINOS 3

COVID-19 UPDATEIn late 2019, an outbreak of COVID-19 was identified in China and has since spread throughout much of the world. The COVID-19 pandemic has had an adverse effect on the Company’s 2020 and first quarter 2021 results of operations and financial condition and the Company expects this situation will continue to have an adverse impact on its results in 2021. The duration and ultimate impact of the COVID-19 pandemic otherwise remains uncertain.The Company’s Canada properties are currently closed. Its Poland casinos closed most recently on March 20, 2021 and are expected to reopen on May 8, 2021. The Company’s casinos in the United States have been open since June 2020 but have been required to vary their operations based on the governmental health and safety requirements in the jurisdictions in which they are located.CENTURY CASINOS 4

Q1 2021 Net Operating Revenue by Reportable Segment and Operating Segment (in USD)Excluding Corporate and Other Reportable Segment Poland 8% Canada 3% United States 89% Missouri 43% Poland 8% Edmonton 2% Calgary 1% Colorado 13% West Virginia 33% CENTURY CASINOS 5

Q1 2021 Earnings (Loss) from Operationsby Reportable Segment and Operating Segment (in USD)Excluding Corporate and Other Reportable Segment Poland -32% Canada -37% United States 169% Poland -32% Edmonton -28% Calgary -9% Colorado 26% West Virginia 20% Missouri 123%CENTURY CASINOS 6

Q1 2021 Net Earnings (Loss) Attributable to Century Casinos, Inc. Shareholdersby Reportable Segment and Operating Segment (in USD)Excluding Corporate and Other Reportable Segment Poland -35% Canada -67% United States 202% Poland -35% Missouri 151% Edmonton -53% Calgary -14% Colorado 51% West Virginia 0%CENTURY CASINOS 7

Q1 2021 Adjusted EBITDA*by Reportable Segment and Operating Segment (in USD)Excluding Corporate and Other Reportable SegmentPoland -15% Canada -15% United States 130% Missouri 91% Poland -15% Edmonton -12% Calgary -3% Colorado 18% West Virginia 21% *Adjusted EBITDA is a non-GAAP financial measure. See Appendix A for the definition and reconciliation of Adjusted EBITDA. CENTURY CASINOS 8

Net Operating Revenue per Quarter (in USD)In millions 120 100 80 60 40 20 0 Q1 36.4 40.6 45.6 87.7 72.4 Q237.3 39.6 52.4 36.1 Q3 41.0 43.6 52.9 95.7 Q4 39.3 45.1 67.2 84.8 2017 2018 2019 2020 2021 CENTURY CASINO 9

Balance Sheet(Selected Information in USD)In millions (except BVPS) March 31, 2021 December 31, 2020 Change Total Assets 673.8 680.8 (1%) Total Debt 184.4 184.6 – Book Value per Share* 3.99 3.99 – Net Debt** 127.3 130.4*Book Value per Share is defined as total Century Casinos, Inc. shareholders’ equity divided by outstanding common shares.**Net Debt is calculated as total long-term debt (including current portion) plus deferred financing costs minus cash and cash equivalents. Net Debt is a non-GAAP financial measure. See Appendix A.Debt as of March 31, 2021 included $167.9 million related to our credit agreement with Macquarie Capital (“Macquarie”), $1.0 million related to CPL, $8.9 million related to CRM and $15.5 million related to CDR’s long-term land lease. The Company also has a $279.3 million long-term financing obligation under its triple-net master lease (“Master Lease”). CENTURY CASINOS 10

Income Statement(Selected Information in USD)In million Q1 2021 Q1 2020 Change Net Operating Revenue 72.4 87.7 (17%) Earnings (Loss) from Operations 8.2 (31.8) 126% Net Loss Attributable to Century Casinos, Inc. Shareholders (1.4) (45.9) 97% Adjusted EBITDA* 14.7 9.6 53% Basic and Diluted Loss per Share (0.05) (1.55) 97%Results for the three months ended March 31, 2020 were impacted by the impairment of goodwill and intangible assets due to COVID-19.*Adjusted EBITDA is a non-GAAP financial measure. See Appendix A for the definition and reconciliation of Adjusted EBITDA. CENTURY CASINOS 11

Debt and Net Debt to Adjusted EBITDA* (in USD) As of March 31, 2021 and for the years ended December 31, 2013-2020 -2X -1X 0X 1X 2X 3X 4X 5X 6X 7X 8X 9X 2013 2.7X 0.5X 2014 3.0X 1.1X 2015 1.6X 0.3X 2016 2.2X 0.7X 2017 2.2X -0.7X 2018 2.5X 0.6X 2019 6.8X 5.1X 2020 7.9X 5.6X 2021 6.3X 4.2X Debt to Adjusted EBITDA Net Debt to Adjusted EBITDA *Debt to Adjusted EBITDA is calculated by dividing the Company’s trailing twelve-month Adjusted EBITDA less cash payments on the Master Lease by the principal amount of outstanding debt. Net Debt to Adjusted EBITDA is calculated by dividing the Company’s trailing twelve-month Adjusted EBITDA less cash payments on the Master Lease by Net Debt. Adjusted EBITDA and Net Debt are non-GAAP financial measures. See Appendix A for the definition and reconciliation of Adjusted EBITDA and Net Debt.CENTURY CASINOS 12

Q1 2021 Highlights – UNITED STATES(Selected Information in USD) In millions Q1 2021 Q1 2020 ChangeNet Operating Revenue 64.4 53.4 21% Impairment – Intangible Assets – 29.6 (100%) Operating Costs and Expenses 46.8 78.5 (40%) Earnings (Loss) from Operations 17.5 (25.1) 170% Net Earnings (Loss) Attributable to Century Casinos, Inc. Shareholders 10.6 (34.2) 131% Adjusted EBITDA* 22.1 8.8 153% Adjusted EBITDA Margin* 34% 16% Highlights from operating segments within the Company’s United States segment are presented below.*Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. See Appendix A for the definition and reconciliation of Adjusted EBITDA and Adjusted EBITDA margin. CENTURY CASIONOS 13

Q1 2021 Highlights – COLORADO(Selected Information in USD, in millions)Net Operating Revenue 0.0 2.0 4.0 6.0 8.0 10.0 12.0 Q1 8.1 6.7 9.4 Q2 8.8 2.0 Q3 9.2 10.4 Q4 7.8 9.5 2019 2020 2021 Adjusted EBITDA* 0.0 1.0 2.0 3.0 4.0 5.0 6.0 Q1 1.9 0.8 3.1 Q2 2.2 0.3 Q3 2.3 4.8 Q4 1.6 3.4 2019 2020 2021As of March 31, 2021, our facilities in Colorado were operating 678 slot machines. Table games reopened in February 2021 and are operating at approximately 49% of available gaming positions.Normal machine counts are 824 slot machines and 12 table games. *Adjusted EBITDA is a non-GAAP financial measure. See Appendix A for the definition and reconciliation of Adjusted EBITDA. CENTURY CASINOS 14

Q1 2021 Highlights – WEST VIRGINIA(Selected Information in USD, in millions)Net Operating Revenue 0.0 5.0 10.0 15.0 20.0 25.0 30.0 Q1 25.1 23.9 Q2 12.2 Q3 28.4 Q4** 8.7 24.5 2019 2020 2021 Adjusted EBITDA* -1.0 0.0 1.0 2.0 3.0 4.0 5.0 6.0 Q1 1.8 3.6 Q2 -0.5 Q3 4.8 Q4** 1.3 3.3As of March 31, 2021, our facility in West Virginia was operating 1,037 slot machines and 25 table games. Table games are operating at approximately 47% of available gaming positions.Normal machine counts are 1,106 slot machines and 34 table games. *Adjusted EBITDA is a non-GAAP financial measure. See Appendix A for the definition and reconciliation of Adjusted EBITDA.**Q4 2019 results show results of MTR following its acquisition in December 2019. CENTURY CASINOS 15

Q1 2021 Highlights – MISSOURI(Selected Information in USD, in millions)Net Operating Revenue0.0 5.0 10.0 15.0 20.0 25.0 30.0 35.0 Q121.6 31.0 Q2 9.6 Q3 23.9 Q4** 7.4 24.5 2019 2020 2021 Adjusted EBITDA* 0.0 5.0 10.0 15.0 20.0 Q1 6.1 15.4 Q2 2.3 Q3 9.7 Q4** 2.6 10.4 2019 2020 2021 As of March 31, 2021, our facilities in Missouri were operating 1,365 slot machines and 32 table games. Table games are operating at approximately 54% of available gaming positions.Normal machine counts are 1,365 slot machines and 32 table games.*Adjusted EBITDA is a non-GAAP financial measure. See Appendix A for the definition and reconciliation of Adjusted EBITDA.**Q4 2019 results show the results of CCG and CCV following their acquisition in December 2019.CENTURY CASINOS 16

Q1 2021 Highlights – CANADA(Selected Information in CAD)In millionsQ12021 Q12020 Change Net Operating Revenue 2.5 21.6 (88%) Impairment - Intangible Assets — 4.7 (100%) Operating Costs and Expenses 7.4 24.1 (69%) Losses from Operations(4.8) (2.6) (73%) Net Loss Attributable to Century Casinos, Inc. Shareholders (3.3) (16.3) 80% Adjusted EBITDA*(3.2) 3.9 (179%) Adjusted EBITDA Margin*-124%18%Highlights from operating segments within the Company’s Canada segment are presented below. *Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. See Appendix A for the definition and reconciliation of Adjusted EBITDA and Adjusted EBITDA margin. CENTURY CASIONOS 17

Q1 2021 Highlights – Edmonton (Selected Information in CAD, in millions)Net Operating Revenue 0.0 5.0 10.0 15.0 20.0 Q1 11.8 13.1 1.3 Q2 18.5 3.9 Q3 17.9 13.5 Q4 16.6 10.2 2019 2020 2021 Adjusted EBITDA* -3.0 -2.0 -1.0 0.0 1.0 2.0 3.0 4.0 5.0 Q1 2.9 1.4 -2.4 Q2 4.0 -0.2 Q3 3.5 3.2 Q4 3.9 2.5As of March 31, 2021, our facilities in Edmonton were closed.Normal machine counts are 1,791 slot machines, 68 video lottery terminals (“VLTs”) and 32 table games.*Adjusted EBITDA is a non-GAAP financial measure. See Appendix A for the definition and reconciliation of Adjusted EBITDA. CENTURY CASINOS 18

Q1 2021 Highlights – Calgary(Selected Information in CAD, in millions) Net Operating Revenue 0.0 2.0 4.0 6.0 8.0 10.0 12.0 Q1 9.9 8.5 1.2 Q2 10.9 2.6 Q3 11.2 8.6 Q4 10.2 6.4 2019 2020 2021 Adjusted EBITDA* -1.0 0.0 1.0 2.0 3.0 4.0 5.0 Q1 3.8 2.5 -0.7 Q2 3.9 0.0 Q3 2.9 2.7 Q4 3.2 2.8 2019 2020 2021As of March 31, 2021, our facilities in Calgary were closed.Normal machine counts are 663 slot machines and 10 VLTs.The casino operations of Century Casino Calgary were sold in December 2020.*Adjusted EBITDA is a non-GAAP financial measure. See Appendix A for the definition and reconciliation of Adjusted EBITDA.CENTURY CASINOS 19

Q1 2021 Highlights – POLAND(Selected Information in PLN)In millionsQ1 2021 Q1 2020 Change Net Operating Revenue 22.4 66.6 (66%) Operating Costs and Expenses 35.0 65.5 (47%) (Loss) Earnings from Operations(12.6) 1.1 (1259%) Net (Loss) Earnings Attributable to Century Casinos, Inc. Shareholders (6.9) 0.7 (1029%) Adjusted EBITDA*(9.6) 4.1 (335%) Adjusted EBITDA Margin*-43%6%*Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. See Appendix A for the definition and reconciliation of Adjusted EBITDA and Adjusted EBITDA margin.CENTURY CASINOS 20

Q1 2021 Highlights – POLAND(Selected Information in PLN, in millions)Net Operating Revenue 0.0 20.0 40.0 60.0 80.0 100.0 Q1 74.8 66.6 22.4 Q2 76.6 29.6 Q3 79.0 62.1 Q4 83.9 51.0 2019 2020 2021 Adjusted EBITDA* -15.0 -10.0 -5.0 0.0 5.0 10.0 15.0 Q1 9.3 4.1 -9.6 Q2 7.6 -6.3 Q3 9.6 3.8 Q4 9.6 -0.9 2019 2020 2021As of March 31, 2021, the eight casinos in Poland were closed.Normal machine counts are 526 slot machines and 119 table games.When the casinos were operating during Q1 2021, table games were operating at approximately 45% of available gaming positions.*Adjusted EBITDA is a non-GAAP financial measure. See Appendix A for the definition and reconciliation of Adjusted EBITDA. CENTURY CASINOS 21

Q1 2021 Highlights – CORPORATE AND OTHER(Selected Information in USD)In millionsQ1 2021 Q12020 Change Net Operating Revenue 0.1 1.0 (87%) Operating Costs and Expenses 2.2 6.3 (65%) Loss from Operations(2.1) (5.3) 60% Net Loss Attributable to Century Casinos, Inc. Shareholders (6.7) (7.3) 8% Adjusted EBITDA*(2.3)(3.2)27%The Corporate and Other reportable segment includes Cruise Ships & Other and Corporate Other reporting units.As of March 31, 2021, all ship-based casinos were not operating due to the COVID-19 pandemic. In May 2021, the agreement for three of the ship-based casinos ended. Our agreement to operate one ship-based casino will continue through June 2022.We permanently closed Century Casino Bath on March 17, 2020 and deconsolidated it in May 2020. Century Casino Bath is no longer a reporting unit in the Corporate and Other reportable segment.Expenses incurred by Corporate Other consist primarily of legal and accounting fees, corporate travel expenses, corporate payroll, amortization of stock-based compensation and other expenses not directly related to any of our individual properties.*Adjusted EBITDA is a non-GAAP financial measure. See Appendix A for the definition and reconciliation of Adjusted EBITDA. CENTURY CASINOS 22

Appendix A –ABBREVIATIONS OF CENTURY CASINOS, INC. SUBSIDIARIES AND CERTAIN OPERATING SEGMENTSSubsidiaryAbbreviationCentury Casino & Hotel – Central CityCTLCentury Casino & Hotel – Cripple CreekCRCMountaineer Casino, Racetrack & ResortMTRCentury Casino Cape GirardeauCCGCentury Casino CaruthersvilleCCVCentury Casino & Hotel - EdmontonCRACentury Casino St. AlbertCSACentury SportsCALCentury Downs Racetrack and CasinoCDRCentury Bets!CBSCentury Mile Racetrack and CasinoCMRCasinos PolandCPLCentury Resorts Management GmbHCRMOperating SegmentAbbreviationCruise Ships & OtherShips & OtherCorporate OtherN/ACENTURY CASINOS 23

Appendix A – NON-GAAP FINANCIAL MEASURESThe Company supplements its consolidated financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) by using the following non-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-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 EBITDAAdjusted EBITDA marginNet DebtManagement believes presenting the non-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.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-GAAP financial measures.CENTURY CASINOS 24

Appendix A – NON-GAAP FINANCIAL MEASURES The Company defines Adjusted EBITDA as net earnings (loss) attributable to Century Casinos, Inc. shareholders before interest expense (income), net, income taxes (benefit), depreciation and amortization, non-controlling interests net earnings (loss) and transactions, pre-opening expenses, acquisition costs, non-cash stock-based compensation charges, asset impairment costs, (gain) loss 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. Expense related to the Master Lease for the Company’s acquired casinos in Missouri and West Virginia and CDR land lease is included in the interest expense (income), net line item. Intercompany transactions consisting primarily of management and royalty fees and interest, along with their related tax effects, are excluded from the presentation of net earnings (loss) attributable to Century Casinos, Inc. shareholders and Adjusted EBITDA 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 EBITDA is not considered a measure of performance recognized under GAAP. Management believes that Adjusted EBITDA is a valuable measure of the relative performance of the Company and its properties. The gaming industry commonly uses Adjusted EBITDA as a method of arriving at the economic value of a casino operation. Management uses Adjusted EBITDA to compare the relative operating performance of separate operating units by eliminating the above-mentioned items associated with the varying levels of capital expenditures for infrastructure required to generate revenue and the often high cost of acquiring existing operations. Adjusted EBITDA is used by the Company’s lending institution to gauge operating performance. The Company’s computation of Adjusted EBITDA may be different from, and therefore may not be comparable to, similar measures used by other companies within the gaming industry. Please see the reconciliation of Adjusted EBITDA to net earnings (loss) attributable to Century Casinos, Inc. shareholders below.The Company defines Adjusted EBITDA margin as Adjusted EBITDA divided by net operating revenue. Management uses this margin as one of several measures to evaluate the efficiency of the Company’s casino operations.CENTURY CASINOS 25

Appendix A – NON-GAAP FINANCIAL MEASURES The Company defines Net Debt as total long-term debt (including current portion) plus deferred financing costs 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 our overall financial situation. Net Debt provides investors with an indication of our ability to pay off all of our long-term debt if it became due simultaneously.The cash payments related to the Company’s Master Lease are deducted from Adjusted EBITDA to calculate the debt and Net Debt to Adjusted EBITDA ratios. Management believes that the ratio provides investors with an indication of the length of time it would take the Company to repay its long-term debt if Adjusted EBITDA were held constant. CENTURY CASINOS 26

Appendix A – NON-GAAP FINANCIAL MEASURESReconciliation of Adjusted EBITDA (in thousands) – UNITED STATESFor the three months ended March 31, 2021in USDColoradoWest VirginiaMissouriTotal UnitedStatesNet Operating Revenue$9,430$23,941$31,000$64,371Net earnings (loss) attributable to Century Casinos, Inc.shareholders2,678(25)7,94110,594Interest expense (income), net—2,0494,8866,935Depreciation and amortization4541,5652,5064,525Loss on disposition of fixed assets——7373Adjusted EBITDA$3,132$3,589$15,406$22,127Adjusted EBITDA Margin33%15%50%34%For the three months ended March 31, 2020in USDColoradoWest VirginiaMissouriTotal United StatesNet Operating Revenue$6,695$25,110$21,622$53,427Net loss attributable to Century Casinos, Inc. shareholders(499)(2,581)(31,139)(34,219)Interest expense (income), net—2,1515,1307,281Income taxes8163426891,847Depreciation and amortization4961,4832,2804,259Impairment - intangible and tangible assets—43729,15229,589Adjusted EBITDA$813$1,832$6,112 $8,757Adjusted EBITDA Margin 12%7%28%16%CENTURY CASINOS 27

Appendix A – NON-GAAP FINANCIAL MEASURESReconciliation of Adjusted EBITDA (in thousands) – CANADAin CADFor the three months ended March 31, 2021 Edmonton Calgary Total Canada Net Operating Revenue $ 1,326 $ 1,214 $ 2,540 Net loss attributable to Century Casinos, Inc. shareholders (2,364) (924) (3,288) Interest expense (income), net 1 388 389 Income tax benefit (100) (419) (519) Depreciation and amortization 1,173 374 1,547 Non-controlling interests — (282) (282) (Gain) loss on foreign currency transactions, cost recovery income and other (1,132) 94 (1,038) Loss on disposition of fixed assets 4 37 41 Adjusted EBITDA $ (2,418) $ (732) $ (3,150) Adjusted EBITDA Margin -182% -60% -124% in CADFor the three m months ended March 31, 2020 Edmonton Calgary Total Canada Net Operating Revenue $ 13,078 $ 8,509 $ 21,587 Net loss attributable to Century Casinos, Inc. shareholders (17,081) 788 (16,293) Interest expense (income), net 55 672 727 Income taxes 2,794 121 2,915 Depreciation and amortization 1,146 649 1,795 Non-controlling interests — 242 242 Loss on foreign currency transactions, cost recovery income and other 9,823 35 9,858 Impairment - intangible and tangible assets 4,701 — 4,701 Adjusted EBITDA $ 1,438 $ 2,507 $ 3,945 Adjusted EBITDA Margin 11% 30% 18% CENTURY CASINOS 28

Appendix A – NON-GAAP FINANCIAL MEASURESReconciliation of Adjusted EBITDA (in thousands) – POLAND in PLNFor the three months ended March 31, 2021 2020 Net Operating RevenuePLN 22,354 PLN 66,582 Net (loss) earnings attributable to Century Casinos, Inc shareholders(6,872) 740 Interest expense (income), net 13 124 Income (benefit) taxes (2,281) 152 Depreciation and amortization 2,990 2,994 Non-controlling interests(3,435) 370 Gain on foreign currency transactions and other (60) (295) Loss on disposition of fixed assets — 9 Other one-time costs — 6 Adjusted EBITDAPLN (9,645) PLN 4,100 Adjusted EBITDA Margin-43% 6% CENTURY CASINOS 29

Appendix A – NON-GAAP FINANCIAL MEASURESReconciliation of Adjusted EBITDA (in thousands) – CORPORATE AND OTHER in USD For the three months ended March 31,20212020Net Operating Revenue$123$980Net loss attributable to Century Casinos, Inc. shareholders(6,666)(7,260)Interest expense (income), net3,2763,511Income taxes (benefit)1,114(1,439)Depreciation and amortization103136Non-cash stock-based compensation259(14)(Gain) loss on foreign currency transactions and other(417)1,645Loss on disposition of fixed assets—2Acquisition costs—213Adjusted EBITDA$(2,331)$(3,206)CENTURY CASINOS 30

Appendix A – NON-GAAP FINANCIAL MEASURESReconciliation of Adjusted EBITDA and Adjusted EBITDA Less Cash Payments on Master Lease Financing Obligation (in thousands) in USDQ2 2020Q3 2020Q4 2020Q1 2021Trailing 12-Month March 31, 2021Trailing 12-Month December 31, 2020Net (loss) earnings attributable to Century Casinos, Inc.$(12,607)$3,748$6,713$(1,419)$(3,565)$(48,002)Interest expense (income), net10,57910,58710,56610,52242,25443,098Income taxes5824281,314992,4234,848Depreciation and amortization6,4056,8246,8106,64326,68226,534Non-controlling interests(590)20853(484)(813)(134)Non-cash stock-based compensation249354(803)25959(214)(Gain) loss on foreign currency transactions, cost recoveryincome and other  (7,521)43(6,420)(981)(14,879)(13,145)Impairment - intangible and tangible assets1,157———1,15735,121(Gain) loss on disposition of fixed assets(69)226910512726Acquisition costs53———53266Adjusted EBITDA$(1,762)$22,214$18,302$14,744$53,498$48,398Cash payments on Master Lease(4,166)(6,249)(8,357)(4,208)(22,980)(25,021)Adjusted EBITDA less cash payments on Master Lease$(5,928)$15,965$9,945$10,536$30,518$23,377CENTURY CASINOS 31

Appendix A – NON-GAAP FINANCIAL MEASURESReconciliation of Net Debt (in thousands) Amounts in thousandsMarch 31, 2021 December 31, 2020 Total long-term debt, including current portion $ 184,421 $ 184,550 Deferred financing costs 8,869 9,261 Total principal$ 193,290 $ 193,811 Less: Cash and cash equivalents $ 65,969 $ 63,413 Net Debt$127,321$130,398CENTURY CASINOS 32

XML

Document and Entity Information	May 06, 2021
Document and Entity Information [Abstract]
Document Type	8-K
Document Period End Date	May 06, 2021
Entity Registrant Name	CENTURY CASINOS, INC.
Entity Incorporation, State or Country Code	DE
Entity File Number	0-22900
Entity Tax Identification Number	84-1271317
Entity Address, Address Line One	455 E. Pikes Peak Ave.
Entity Address, Address Line Two	Suite 210
Entity Address, City or Town	Colorado Springs
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80903
City Area Code	719
Local Phone Number	527-8300
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, $0.01 Per Share Par Value
Trading Symbol	CNTY
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false
Entity Central Index Key	0000911147
Amendment Flag	false