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): August 4, 2022

CENTURY CASINOS, INC.

(Exact Name of Registrant as specified in its charter)

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:

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 August 5, 2022, Century Casinos, Inc., a Delaware corporation (the “Company”), issued a press release reporting its financial results for the second quarter of 2022. 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 second quarter of 2022 earnings conference call on Friday, August 5, 2022, 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, 2021, that has 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

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: August 4, 2022

By: /s/ Margaret Stapleton

Margaret Stapleton

Chief Financial Officer



August 5, 2022

PRESS RELEASE



Century Casinos, Inc. Announces Second Quarter 2022 Results 



Colorado Springs, Colorado –  August 5, 2022 – Century Casinos, Inc. (Nasdaq Capital Market®: CNTY) today announced its financial results for the three and six months ended June 30, 2022.  



Second Quarter 2022 Highlights*





COVID-19 Update

Since the inception of the COVID-19 pandemic in March 2020, the Company’s casinos have varied their operations based on the governmental health and safety requirements in the jurisdictions in which they are located. The COVID-19 pandemic impacted the Company’s results of operations in the first half of 2021 because of closures at the Company’s Canada and Poland properties during this period. Currently the Company’s operations have no health and safety requirements for entry and few other COVID-19 related restrictions. The duration and ultimate impact of the COVID-19 pandemic otherwise remains uncertain.



NUGGET CASINO RESORT ACQUISITION AND FINANCING

On April 1, 2022, the Company purchased 50% of the membership interest in Smooth Bourbon, LLC (“PropCo”) for approximately $95.0 million (the “PropCo Acquisition”). Pursuant to a definitive agreement and subject to approval from the Nevada Gaming Commission, the Company will purchase 100% of the membership interests in Nugget Sparks, LLC (“OpCo”) for $100.0 million (subject to certain adjustments) (the “OpCo Acquisition” and together with the PropCo Acquisition, the “Acquisition”). The OpCo Acquisition is expected to occur within one year of the PropCo Acquisition. OpCo owns and operates the Nugget Casino Resort in Sparks, Nevada, and PropCo owns the real property on which the casino is located and leases the real property to OpCo for an annual rent of $15.0 million.



On April 1, 2022, the Company also entered into a Credit Agreement with Goldman Sachs Bank USA (the “Goldman Credit Agreement”). The Goldman Credit Agreement provides for a $350.0 million term loan (the “Term Loan”) and a $30.0 million revolving credit facility (the “Revolving Facility”). The Company drew $350.0 million under the Term Loan and used the proceeds as well as $29.3 million of cash on hand to fund the PropCo Acquisition, to repay approximately $166.2 million outstanding under the Company’s credit agreement with Macquarie (“Macquarie Credit Agreement”), to fund a $100.0 million escrow fund that will be used to purchase OpCo, and for related fees and expenses. The Goldman Credit Agreement replaces the Macquarie Credit Agreement. The Company did not draw on the Revolving Facility on the closing date of the PropCo acquisition.



RESULTS

The consolidated results for the three and six months ended June 30, 2022 and 2021 are as follows:







“We achieved the highest net operating revenue and Adjusted EBITDA during a second quarter in the history of the Company. We are pleased with the strong contribution from our operations in Canada which have continued to improve after Alberta removed COVID-19 restrictions,” Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos remarked. “As we announced in April, we have completed the first portion of our acquisition of the Nugget Casino Resort. We are excited to enter the growing Reno/Sparks Nevada market with this transaction,” 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 June 30, 2022:









The Company’s net operating revenue increased by $18.9 million, or 21%, and by $49.6 million, or 30%, for the three and six months ended June 30, 2022,  compared to the three and six months ended June 30, 2021.  Following is a summary of the changes in net operating revenue by reportable segment for the three and six months ended June 30, 2022,  compared to the three and six months ended June 30, 2021:







The Company’s earnings from operations increased by $2.7 million, or 15%, and by $7.5 million, or 28%, for the three and six months ended June 30, 2022,  compared to the three and six months ended June 30, 2021.  Following is a summary of the changes in earnings (loss) from operations by reportable segment for the three and six months ended June 30, 2022,  compared to the three and six months ended June 30, 2021:  







Net earnings attributable to Century Casinos, Inc. shareholders increased by $2.0 million, or 29%, and by $3.6 million, or 67%, for the three and six months ended June 30, 2022,  compared to the three and six months ended June 30, 2021.  Following is a summary of the changes in net earnings (loss) attributable to Century Casinos, Inc. shareholders by reportable segment for the three and six months ended June 30, 2022,  compared to the three and six months ended June 30, 2021:  





Items deducted from or added to earnings from operations to arrive at net earnings attributable to Century Casinos, Inc. shareholders include interest income, interest expense, gains (losses) on foreign currency transactions and other, income tax (benefit) expense and non-controlling interests. Items that impacted net earnings attributable to Century Casinos, Inc. shareholders for the three and six months ended June 30, 2022 included a write-off of $7.3 million in deferred financing costs to interest expense related to the prepayment of the Macquarie Credit Agreement and the release of a $10.2 million US valuation allowance,   resulting in an income tax benefit.

Adjusted EBITDA** increased by $4.5 million, or 18%, and by $13.6 million, or 34%, for the three and six months ended June 30, 2022 compared to the three and six months ended June 30, 2021.  Following is a summary of the changes in Adjusted EBITDA** by reportable segment for the three and six months ended June 30, 2022 compared to the three and six months ended June 30, 2021:







Balance Sheet and Liquidity

As of June 30, 2022, the Company had $96.2 million in cash and cash equivalents compared to $107.8 million in cash and cash equivalents at December 31, 2021.  Cash and cash equivalents as of June 30, 2022 do not include restricted cash, which includes $100.0 million in escrow to fund the OpCo Acquisition. As of June 30, 2022, the Company had $369.9 million in outstanding debt compared to $189.2 million in outstanding debt at December 31, 2021. The outstanding debt as of June 30, 2022 included $349.1 million related to the Term Loan under the Goldman Credit Agreement  (including $100.0 million borrowed and in escrow to fund the OpCo Acquisition),  $0.1 million of bank debt related to Casinos Poland, $5.5 million of bank debt related to Century Resorts Management GmbH (“CRM”), and $15.1 million related to a long-term land lease for Century Downs Racetrack and Casino (“CDR”). The Company also has a $283.0 million long-term financing obligation under its triple net master lease (“Master Lease”) of its West Virginia and Missouri properties.



Conference Call Information

Today the Company will post a copy of its quarterly report on Form 10-Q filed with the SEC for the quarter ended June 30, 2022 on its website at www.cnty.com/investor/financials/sec-filings/. The Company will also post a presentation of the second quarter results on its website at www.cnty.com/investor/presentations/.



The Company will host its second quarter 2022 earnings conference call today, Friday,  August 5, at 10:00 am EDT / 8:00 am MDT. U.S. domestic participants should dial 800-920-5564.  For all international participants, please use 415-226-5355 to dial-in. Participants may listen to the call live at cc.callinfo.com/r/1ocsahbwizouj&eom or obtain a recording of the call on the Company’s website until August 31, 2022 at www.cnty.com/investor/financials/sec-filings/.

CENTURY CASINOS, INC. AND SUBSIDIARIES –

UNAUDITED FINANCIAL INFORMATION – US GAAP BASIS 











CENTURY CASINOS, INC. AND SUBSIDIARIES

UNAUDITED SUPPLEMENTAL INFORMATION

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







CENTURY CASINOS, INC. AND SUBSIDIARIES

UNAUDITED SUPPLEMENTAL INFORMATION

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





CENTURY CASINOS, INC. AND SUBSIDIARIES

UNAUDITED SUPPLEMENTAL INFORMATION

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





Adjusted EBITDA Margins**



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, loss (gain) 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. Non-cash stock-based compensation expense is presented under Corporate and Other as the expense is not allocated to reportable segments when reviewed by the Company’s chief operating decision makers. 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; and the Century Mile Racetrack and Casino in Edmonton, Alberta, Canada. 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. Through its United States subsidiary, Century Nevada Acquisition, Inc., the Company owns a 50% membership interest in PropCo, which owns the land and building of OpCo in Sparks, Nevada. The Company has an agreement to purchase 100% of the membership interests in OpCo. The Company also has an agreement to operate one ship-based casino. 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.  



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 and Adjusted EBITDA, the impact of the coronavirus (COVID-19) pandemic, estimates of the financial 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 Goldman Credit Agreement 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, certain plans, expectations, goals, projections, and statements about the benefits of the Acquisition, as well as our plans, objectives, expectations, intentions, and other statements relating to cash flow, operating results and debt repayment; the possibility that the OpCo Acquisition does not close when expected or at all because regulatory or other conditions to closing are not satisfied on a timely basis or at all; potential adverse reactions or changes to business or employee relationships, including those resulting from the completion of the Acquisition; the possibility that the anticipated benefits of the Acquisition are not realized when expected or at all 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, 2021, 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.



Exhibit 99.2              

CENTURY CASINOS FINANCIAL RESULTS Q2 2022 0 

Forward-Looking Statements, Business Environment & Risk Factors CENTURY CASINOS 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 the hotel and casino projects in Missouri, future results of operations, including statements about operating margins, the impact of the coronavirus (COVID-19) pandemic, estimates of the financial 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 Goldman Credit Agreement (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, certain plans, expectations, goals, projections, and statements about the benefits of the Acquisition (as defined herein), the possibility that the OpCo Acquisition (as defined herein) does not close when expected or at all because regulatory or other conditions to closing are not satisfied on a timely basis or at all; potential adverse reactions or changes to business or employee relationships, including those resulting from the completion of the Acquisition; the possibility that the anticipated benefits of the Acquisition are not realized when expected or at all 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, 2021 (the “2021 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. 1 

Notes on Presentation CENTURY CASINOS 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, Adjusted EBITDA margin and Net Debt are non-GAAP financial measures. See Appendix for the definition and reconciliation of Adjusted EBITDA, Adjusted EBITDA margin and Net Debt. 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 for a list of the subsidiaries and their abbreviations. 2

New Developments CENTURY CASINOS COVID-19 UPDATE Since the inception of the COVID-19 pandemic in March 2020, the Company’s casinos have varied their operations based on the governmental health and safety requirements in the jurisdictions in which they are located. The COVID-19 pandemic impacted the Company’s results of operations in the first half of 2021 because of closures at the Company’s Canada and Poland properties during this period. Currently the Company’s operations have no health and safety requirements for entry and few other COVID-19 related restrictions. The duration and ultimate impact of the COVID-19 pandemic otherwise remains uncertain. NUGGET CASINO RESORT ACQUISITION AND FINANCING On April 1, 2022, the Company purchased 50% of the membership interest in Smooth Bourbon, LLC (“PropCo”) for approximately $95.0 million (the “PropCo Acquisition”). Pursuant to a definitive agreement and subject to approval from the Nevada Gaming Commission, the Company will purchase 100% of the membership interests in Nugget Sparks, LLC (“OpCo”) for $100.0 million (subject to certain adjustments) (the “OpCo Acquisition” and together with the PropCo Acquisition, the “Acquisition”). The OpCo Acquisition is expected to occur within one year of the PropCo Acquisition. OpCo owns and operates the Nugget Casino Resort in Sparks, Nevada and PropCo owns the real property on which the casino is located and leases the real property to OpCo for an annual rent of $15.0 million. On April 1, 2022, the Company also entered into a Credit Agreement with Goldman Sachs Bank USA (the “Goldman Credit Agreement”). The Goldman Credit Agreement provides for a $350.0 million term loan (the “Term Loan”) and a $30.0 million revolving credit facility (the “Revolving Facility”). The Company drew $350.0 million under the Term Loan and used the proceeds as well as approximately $29.3 million of cash on hand to fund the PropCo acquisition, to repay approximately $166.2 million outstanding under the Company’s credit agreement with Macquarie (“Macquarie Credit Agreement”), to fund a $100.0 million escrow fund that will be used to purchase OpCo, and for related fees and expenses. The Goldman Credit Agreement replaces the Macquarie Credit Agreement. The Company did not draw on the Revolving Facility on the closing date of the PropCo acquisition. 3

FINANCIAL RESULTS CENTURY CASINOS 4 

Net Operating Revenue Q2 2022 by Reportable Segment and Operating Segment (1) (in USD) CENTURY CASINOS Canada 17% United States 63% Poland 20% Edmonton 12% Calgary 5% Colorado 10% West Virginia 27% Missouri 26% Poland 20% 1. Excludes the Corporate and Other Reportable Segment. 5 

Earnings from Operations Q2 2022 by Reportable Segment and Operating Segment (1) (in USD) CENTURY CASINOS Canada 18% United States 73% Poland 9% Calgary 10% Edmonton 8% Poland 9% Colorado 16% West Virginia 14% Missouri 43% 1. Excludes the Corporate and Other Reportable Segment. 6 

Net Earnings Attributable to Century Casinos, Inc. Shareholders Q2 2022 by Reportable Segment and Operating Segment (1) (in USD) CENTURY CASINOS Canada 19% United States 72% Poland 9% Calgary 8% Colorado 27% West Virginia 9% Missouri 36% Edmonton 11% Poland 9% 1. Excludes the Corporate and Other Reportable Segment. 7 

Adjusted EBITDA (1) Q2 2022 by Reportable Segment and Operating Segment (2) (in USD) CENTURY CASINOS Canada 19% United States 72% Poland 9% Calgary 9% Colorado 14% West Virginia 16% Missouri 42% Poland 9% Edmonton 10% Adjusted EBITDA is a non-GAAP financial measure. See Appendix for the definition and reconciliation of Adjusted EBITDA. Excludes the Corporate and Other Reportable Segment. 8 

Diversified Gaming Company with Focus on Local and Regional Markets CENTURY CASINOS # of Properties # of Slot Machines # of Table Games # of Hotel Rooms Q2 2022 Geographic Concentration by Reportable Segment Adjusted EBITDA(2) CENTURY CASINOS 17 Properties (1) 6,179 234 430 Poland 9% Canada 19% United States 72% Nugget 1 Property 859 29 1,382 United States 100% CENTURY CASINOS 18 Properties 7,038 263 1,812 Poland 7% United States 78% Canada 15% 1. Property information excludes Corporate and Other segment. 2. Adjusted EBITDA is a non-GAAP financial measure. See Appendix for the definition and reconciliation of Adjusted EBITDA. 9 

Net Operating Revenue per Quarter In USD (in millions) CENTURY CASINOS 140 120 100 80 60 40 20 0 Q1 40.6 45.6 87.7 72.4 103.1 Q2 39.6 52.4 36.1 92.2 111.1 Q3 43.6 52.9 95.7 116.6 Q4 45.1 67.2 84.8 107.3 2018 2019 2020 2021 2022 10 

Adjusted EBITDA(1) per Quarter In USD (in millions) CENTURY CASINOS 35.0 30.0 25.0 20.0 15.0 10.0 5.0 0 (5.0) Q1 6.6 6.7 9.6 14.7 23.8 Q2 4.7 6.7 (1.8) 25.2 29.8 Q3 6.4 7.1 22.2 33.1 Q4 5.8 9.8 18.3 24.9 2018 2019 2020 2021 2022 1. Adjusted EBITDA is a non-GAAP financial measure. See Appendix for the definition and reconciliation of Adjusted EBITDA. 11 

Balance Sheet Selected information in USD CENTURY CASINOS in millons (except BVPS) June 30,2022 December 31,2021 Change Total Assets 875.8 703.4 25% Total Debt, net of Deferred Financing Costs (1) 352.2 181.5 94% Book Value per Share (2) 5.00 4.78 5% Net Debt  (3) 273.7 81.4 As of June 30, 2022, the Company had $369.9 million in outstanding debt compared to $189.2 million in outstanding debt at December 31, 2021. The outstanding debt as of June 30, 2022 included $349.1 million related to the Goldman Credit Agreement (including $100.0 million borrowed and in escrow to fund the OpCo Acquisition), $0.1 million of bank debt related to CPL, $5.5 million of bank debt related to CRM, and $15.1 million related to a long-term land lease for CDR. The Company also has a $283.0 million long-term financing obligation under its triple net master lease (“Master Lease”) of its West Virginia and Missouri properties. 1. Deferred financing costs were $17.7 million and $7.7 million as of June 30, 2022 and December 31, 2021, respectively. 2. Book value per share is defined as total Century Casinos, Inc. shareholders equity divided by outstanding common shares. 3. Net Debt is calculated as long-term debt (including current portion) plus deferred financing costs minus cash and cash equivalents (excluding restricted cash). Net Debt is a non-GAAP financial measure. See Appendix. 12 

Income Statement Selected information in USD CENTURY CASINOS In millions Q2 2022 Q2 2021 Change Net Operating Revenue 111.1 92.2 21% Earnings from Operations 20.8 18.1 15% Net Earnings Attributable to Century Casinos, Inc. Shareholders 8.9 6.9 29% Adjusted EBITDA(1) 29.8 25.2 18% Basic Earnings per Share 0.30 023 30% Diluted Earnings per Share 0.28 022 27% 1. Adjusted EBITDA is a non-GAAP financial measure. See Appendix for the definition and reconciliation of Adjusted EBITDA. 13 

Debt and Net Debt to Adjusted EBITDA (1) As of June 30, 2022 and for the years ended December 31, 2014-2021 (in USD) CENTURY CASINOS 9.0 8.0 7.0 6.0 5.0 4.0 3.0 2.0 1.0 0.0 -1.0 -2.0 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 2.5x 1.1x 2022 4.3x 3.2x 1. 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 for the definition and reconciliation of Adjusted EBITDA and Net Debt. 14 

United States Highlights Selected information in USD CENTURY CASINOS In millions Q2 2022 Q2 2021 Change Net Operating Revenue 70.3 76.7 (8%) Operating Costs and Expenses 52.7 53.2 (1%) Earnings from Operations 17.6 23.5 (25%) Net Earnings Attributable to Century Casinos, Inc. 10.5 16.5 (36%) Adjusted EBITDA(1) 22.4 28.2 (21%) Adjusted EBITDA Margin(1)    32% 37% 1. Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. See Appendix for the definition and reconciliation of Adjusted EBITDA and Adjusted EBITDA margin. 15 

Colorado Highlights Selected information in USD, in millions CENTURY CASINOS Key Stats (1) Central City Casino Sq. Footage 22,640 Slot Machines 412 Tables 8 Hotel Rooms 26 Net Operating Revenue 14.0 12.0 10.0 8.0 6.0 4.0 2.0 0.0 Q1 6.7 9.4 10.3 Q2 2.0 12.1 11.6 Q3 10.4 12.5 Q4 9.5 11.3 2020 2021 2022 Cripple Creek Casino Sq. Footage 19,610 Slot Machines 377 Tables 6 Hotel Rooms 21 Adjusted EBITDA (2) 6.0 5.0 4.0 3.0 2.0 1.0 0.0 Q1 0.8 3.1 3.3 Q2 0.3 4.8 4.4 Q3 4.8 5.0 Q4 3.4 3.9 2020 2021 2022 1. As of June 30, 2022. 2. Adjusted EBITDA is a non-GAAP financial measure. See Appendix for the definition and reconciliation of Adjusted EBITDA. 16 

Missouri Highlights Selected information in USD, in millions CENTURY CASINOS Key Stats (1) Cape Girardeau Casino Sq. Footage 41,530 Slot Machines 846 Tables 23 Hotel Rooms N/A Net Operating Revenue 40.0 35.0 30.0 25.0 20.0 15.0 10.0 5.0 0.0 Q1 21.6 31.0 28.7 Q2 9.6 34.1 29.0 Q3 23.9 29.7 Q4 24.5 28.3 2020 2021 2022 Caruthersville Casino Sq. Footage 21,000 Slot Machines 525 Tables 7 Hotel Rooms N/A Adjusted EBITDA (2) 20.0 15.0 10.0 5.0 0.0 Q1 6.1 15.4 12.8 Q2 2.3 17.2 13.0 Q3 9.7 13.4 Q4 10.4 12.8 2020 2021 2022 1. As of June 30, 2022. 2. Adjusted EBITDA is a non-GAAP financial measure. See Appendix for the definition and reconciliation of Adjusted EBITDA. 17