Financial Performance - Gaming revenue for Q3 2025 was $106.793 million, a 1.3% increase from $105.450 million in Q3 2024 [137]. - Net operating revenue decreased by $2.0 million, or 1.3%, for the three months ended September 30, 2025 compared to the same period in 2024 [142]. - Net loss attributable to Century Casinos, Inc. shareholders increased by $2.4 million, or 29.9%, for Q3 2025 compared to Q3 2024 [142]. - Adjusted EBITDAR for Q3 2025 was $31.064 million, a decrease of 5.6% from $32.902 million in Q3 2024 [137]. - Hotel revenue for Q3 2025 was $14.845 million, a decrease of 3.3% from $15.350 million in Q3 2024 [137]. - Other revenue decreased by 32.9% to $7.058 million in Q3 2025 compared to $10.518 million in Q3 2024 [137]. - For the three months ended September 30, 2025, net earnings attributable to Century Casinos, Inc. shareholders were $(10,548) thousand, a decrease from $(8,119) thousand in the same period of 2024 [152][154]. - Net earnings attributable to Century Casinos, Inc. shareholders decreased by 32.9% to $3.155 million in Q3 2025 from $4.701 million in Q3 2024 [163]. Revenue Sources - Pari-mutuel, sports betting, and iGaming revenue increased by 16.2% to $6.685 million in Q3 2025 compared to $5.753 million in Q3 2024 [137]. - Gaming revenue for Q3 2025 was $76.634 million, a 2.1% increase from $75.023 million in Q3 2024 [163]. - Pari-mutuel, sports betting, and iGaming revenue increased by 25.0% to $3.778 million in Q3 2025 compared to $3.023 million in Q3 2024 [163]. Casino Operations - The company opened a new land-based casino in Caruthersville, Missouri, on November 1, 2024, with a project cost of approximately $51.9 million [132]. - The company anticipates opening a new casino location in Wroclaw in January 2026, with 50 slot machines and four table games [131]. - The company closed the Hilton Hotel casino in Warsaw in June 2025 due to not receiving a new license, with plans to relocate and reopen the casino in October 2024 [131]. - The new land-based casino and hotel in Caruthersville opened on November 1, 2024, featuring 574 slot machines and nine live table games, nearly a 50% increase in gaming positions [163]. - The Happy Valley Casino in Pennsylvania is expected to open in early 2026, potentially increasing competition for Rocky Gap [165]. Strategic Initiatives - The company initiated a comprehensive strategic review in August 2025 to explore potential mergers, partnerships, or asset divestments aimed at enhancing shareholder value [135]. - The company has partnered with BetMGM to operate an online and mobile sports betting application in Missouri, expected to begin on December 1, 2025 [130]. - The company plans to open a second casino in Wroclaw in January 2026 following the award of a second license in March 2025 [195]. Financial Position - Total long-term debt, including current portion, as of September 30, 2025, was $329,316 thousand, slightly increasing from $327,493 thousand as of September 30, 2024 [161]. - Net Debt as of September 30, 2025, was $261,056 thousand, up from $220,850 thousand as of September 30, 2024, indicating a rise in leverage [161]. - Interest expense for the nine months ended September 30, 2025, totaled $77,607 thousand, compared to $75,316 thousand for the same period in 2024, reflecting an increase [155][158]. - Cash, cash equivalents, and restricted cash as of September 30, 2025, were $78.1 million, down from $119.1 million in 2024 [211]. - Total debt as of September 30, 2025 was $329.3 million, with $321.3 million classified as long-term debt, reflecting an increase in net debt from $220.9 million as of September 30, 2024 [218]. Currency Exchange Rates - The average exchange rate for the Canadian dollar (CAD) was 1.3773 for Q3 2025, reflecting a 1.0% decrease compared to Q3 2024 [136]. - The average exchange rate for the Polish zloty (PLN) was 3.6461 for Q3 2025, indicating a 6.5% increase compared to Q3 2024 [136]. - The average exchange rate between the US dollar and Canadian dollar decreased by 1.0% for the three months ended September 30, 2025, compared to the same period in 2024 [181]. - The average exchange rate between the US dollar and Polish zloty increased by 6.5% for the three months ended September 30, 2025, compared to the same period in 2024 [190]. Operational Costs - Total operating costs and expenses decreased by $1.2 million, or 0.9%, for Q3 2025 compared to Q3 2024 [142]. - Operating costs and expenses in the West decreased primarily due to fewer events at the outdoor event center [178]. - Total operating costs and expenses in Canada for the three months ended September 30, 2025, decreased by 0.9% to $16.32 million compared to $16.46 million in 2024 [179]. - Operating costs and expenses for the three months ended September 30, 2025, decreased by 5.4% to PLN 70.5 million compared to PLN 74.5 million in 2024, and for the nine months, it increased by 1.1% to PLN 240.3 million from PLN 237.7 million [192][194]. Cash Flow - Net cash provided by operating activities for the nine months ended September 30, 2025, was $6.8 million, compared to a cash outflow of $1.0 million in 2024 [211]. - Net cash used in investing activities for the nine months ended September 30, 2024 totaled $66.5 million, including $20.2 million for the casino project in Caruthersville and $10.9 million for a hotel project [215]. - Cash and cash equivalents decreased to $77.7 million as of September 30, 2025, down from $98.8 million at December 31, 2024, primarily due to net cash used in investing activities [226]. Miscellaneous - The company reported a goodwill impairment of $26.5 million for the Rocky Gap reporting unit in Q4 2024 due to a restatement of previously issued financial statements [128]. - The company incurred pre-opening and termination expenses of $1,790 thousand for the nine months ended September 30, 2025, compared to $2,753 thousand for the same period in 2024, reflecting a decrease [155][158]. - Non-cash stock-based compensation for the nine months ended September 30, 2025, was $802 thousand, compared to $566 thousand for the same period in 2024, indicating an increase [155][158].

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Core Insights - MDA Space's stock has experienced a significant decline, losing nearly 50% of its market value since being rated a buy in August, which has erased all previous gains [1] Company Analysis - MDA Space operates in the aerospace sector and has been underperforming in the market, indicating potential challenges in its business model or market conditions [1] - The analyst, Dhierin-Perkash Bechai, specializes in aerospace, defense, and airline sectors, providing insights into investment opportunities and industry developments [1] Industry Context - The aerospace, defense, and airline industries are characterized by significant growth prospects, but they also face complexities that can impact investment strategies [1]

Financial Data and Key Metrics Changes - Net operating revenue for Q3 2025 was $154 million, with a notable increase driven by strength in the East and Midwest regions, as well as in Canada, despite weaknesses in the West region and Poland [3] - Adjusted for one-time effects, Q3 EBITDA would have increased by about 5%, surpassing consensus estimates [4] - Cash and cash equivalents at the end of the quarter were $78 million, down from $85 million at the end of Q2 [14] Business Line Data and Key Metrics Changes - In Missouri, Century Casinos Hotel Carruthersville saw gaming revenue grow by 29% year-over-year, with EBITDA increasing 35% to $6.1 million [6] - At Century Casinos Hotel Cape Girardeau, EBITDA was $6.1 million, slightly below last year's record quarter [7] - In Colorado, Cripple Creek's EBITDA was flat year-over-year at $1.8 million, while Century City reported a 20% increase in EBITDA on a comparable basis [8][9] Market Data and Key Metrics Changes - In Alberta, slot coining was up 5.8%, total revenue increased by 1.6%, and EBITDA rose by 11.1% to $5.4 million [11] - Poland faced challenges with the closure of the Warsaw Hilton Casino, contributing negatively to EBITDA [12] Company Strategy and Development Direction - The company is committed to divesting its Poland operations and will provide updates on the divestment process [5] - A strategic review process is ongoing, with no decisions made yet regarding potential transactions [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in business prospects, noting a clear path forward to higher EBITDA and cash flow for 2026 and beyond [15] - Preliminary results for October showed EBITDA up over 20% compared to last year, indicating positive customer trends [16] Other Important Information - The company experienced a filing delay due to an error in impairment testing for goodwill, requiring restatement of previous financials [13] - Total principal amount of debt outstanding was $339 million, with a net debt-to-EBITDA ratio of 6.9 times [14] Q&A Session Summary Question: What is driving the growth in the Canada portfolio? - Management noted that the growth is driven by motivated management and improvements in properties, particularly the facade upgrade in St. Albert [19] Question: What is the timing for the group and convention business to normalize? - Management indicated that improvements are expected to be seen in 2026, with a focus on both casino and retail segments [21][25] Question: How is the company thinking about share buybacks versus paying down debt? - The company is currently analyzing the balance between stock buybacks and debt repayment, with no decisions made yet [31] Question: What are the expectations for the Nugget's convention business? - Management acknowledged that the weakness in July and September was due to fewer events compared to the previous year [38] Question: What initiatives are in place to improve retail customer engagement? - Management suggested that insecurity around tariffs may have impacted lower-end customers, but they remain optimistic about improving consumer sentiment [45]

Company Overview - The Company has a multi-channel gaming presence with 7,276 slot/electronic gaming machines, 222 gaming tables, and 2,153 hotel rooms across 17 properties in the USA, Canada, and Europe[12] - The Company's management team owns 15% of CNTY and has extensive experience in operating casinos across multiple countries[12] Financial Performance & Leverage - Net Operating Revenue for Q3 2024 was $155.7 million, a decrease of 3% compared to $161.2 million in Q3 2023[35] - Adjusted EBITDAR for Q3 2024 was $32.9 million, a decrease of 1% compared to $33.3 million in Q3 2023[35] - The Company anticipates Debt Leverage to trend towards 40X by the end of 2025[40] - The Company's total principal debt is $339.6 million and net debt is $220.9 million as of September 30, 2024[39] Growth & Expansion - The Company's Caruthersville, MO permanent land-based casino and hotel project was completed in November 2024, funded by VICI[12, 102] - The Caruthersville project cost approximately $51.9 million, funded by VICI, and will increase rent under the Master Lease by approximately $4.2 million (8%) per year[107] - The Company is targeting $602 million in revenue and $111 million in Adjusted EBITDAR for 2024, with goals of $651 million in revenue and $150 million in Adjusted EBITDAR for 2025[110]

Financial Performance - Net operating revenue for Q3 2025 was $153.7 million, a decrease of 1% compared to $155.7 million in Q3 2024[8] - Earnings from operations decreased by 4% to $17.1 million in Q3 2025 from $17.9 million in Q3 2024[8] - Net loss attributable to Century Casinos, Inc. shareholders was $10.5 million, a 30% increase in loss compared to $8.1 million in Q3 2024[8] - Adjusted EBITDAR for Q3 2025 was $31.1 million, down 6% from $32.9 million in Q3 2024[8] - For the three months ended September 30, 2025, net operating revenue was $153,724,000, a decrease of 1% from $155,701,000 in the same period of 2024[21] - Total operating costs and expenses for the same period were $136,598,000, down from $137,783,000, resulting in earnings from operations of $17,126,000[21] - The net loss attributable to Century Casinos, Inc. shareholders for the three months ended September 30, 2025, was $10,548,000, compared to a net loss of $8,119,000 in the prior year[21] - The basic and diluted net loss per share attributable to Century Casinos, Inc. shareholders was $(0.35) for the three months ended September 30, 2025, compared to $(0.26) in 2024[21] - The company reported a net loss before income taxes of $8,972,000 for the three months ended September 30, 2025, compared to a loss of $7,059,000 in 2024[21] - For the nine months ended September 30, 2025, the net loss attributable to Century Casinos, Inc. shareholders was $43,470,000, an improvement from a loss of $63,276,000 in the same period of 2024[21] Revenue by Segment - The United States segment reported a 2% decrease in net operating revenue to $115.0 million for Q3 2025[11] - Poland's net operating revenue decreased by 1% to $18.1 million in Q3 2025, while Canada saw a 2% increase to $20.6 million[11] - Net operating revenue for the United States segment was $314,396,000 for the nine months ended September 30, 2024, with a net earnings margin of (8%) and an adjusted EBITDAR margin of 23%[31] - The Canada segment reported net operating revenue of $57,109,000 for the nine months ended September 30, 2024, with a net earnings margin of 2%[31] - Poland segment's net operating revenue was $63,479,000 for the nine months ended September 30, 2024, with a net earnings margin of (2%)[31] Cash and Debt Position - As of September 30, 2025, the company had $77.7 million in cash and cash equivalents, down from $98.8 million at December 31, 2024[17] - Outstanding debt as of September 30, 2025, was $338.7 million, with a Consolidated First Lien Net Leverage Ratio exceeding 5.50 to 1.00[17] - As of September 30, 2025, total assets were $1,158,904,000, a decrease from $1,199,839,000 as of December 31, 2024[22] - Current liabilities decreased to $75,995,000 from $86,044,000, while non-current liabilities increased to $1,070,553,000 from $1,057,222,000[22] Strategic Initiatives - The company expects to open a new casino in Wroclaw, Poland in January 2026, which is anticipated to improve results in the region[5] - The company has partnered with BetMGM for online and mobile sports betting in Missouri, expected to launch on December 1, 2025[4] - Century Casinos is pursuing strategic initiatives including the commencement of sports betting in Missouri and the opening of new casinos in Poland[41] - The company continues to explore market expansion opportunities and other projects in various stages of development[39] Adjusted EBITDAR - Adjusted EBITDAR for the three months ended September 30, 2025, was $31,064,000, compared to $32,902,000 in the same period of 2024[24] - Adjusted EBITDAR for the nine months ended September 30, 2024, was $81,598,000, with a margin of 19%[31] Other Financial Metrics - Cash rent payments for the Master Lease totaled $43,174,000 for the nine months ended September 30, 2025, compared to $37,829,000 in the previous period[31] - Interest expense (income), net for the nine months ended September 30, 2024, was $77,607,000, compared to $75,316,000 in the previous period[31] - The company reported a non-cash stock-based compensation of $566,000 for the nine months ended September 30, 2024[29] Reporting and Compliance - The company plans to post its quarterly report on Form 10-Q for the quarter ended September 30, 2025, within the next five calendar days[18]

Accessibility StatementSkip Navigation COLORADO SPRINGS, Colo., Nov. 5, 2025 /PRNewswire/ -- Century Casinos, Inc. (Nasdaq Capital Market®: CNTY) announced today that the Company will release its earnings for the third quarter 2025 on Monday, November 10, 2025. The Company is postponing the release of earnings to complete review procedures and financial valuations around its Rocky Gap reporting unit with its auditor. On Tuesday, November 11, 2025, Century Casinos will host its Q3 2025 Earnings Conference C ...

Core Insights - Century Casinos, Inc. announced that its Rocky Gap Casino, Resort & Golf received multiple first-place awards in Casino Player Magazine's Best of Gaming Awards 2025: Maryland, highlighting the resort's commitment to exceptional service and guest experiences [1]. Company Overview - Century Casinos, Inc. operates various casino entertainment segments across the United States, including locations in West Virginia, Missouri, Colorado, and Nevada, as well as in Canada and Poland [2]. - The company's common stock trades on The Nasdaq Capital Market under the symbol CNTY [3]. Awards and Recognition - Rocky Gap Casino received awards for Best Hotel Staff, Best Rooms, Best Golf Course, Favorite Casino Resort to Vacation At, Best Hosts, Best Promotions, Best Dealers, Best Non-Smoking Casino, Casino Where You Feel Luckiest, Best Carnival Games, and Best Roulette [6].

Core Insights - Century Therapeutics reported significant progress in its pipeline, focusing on cell therapy candidates for autoimmune diseases and cancer, with ongoing clinical trials and preclinical studies [2][5][6] Financial Results - As of June 30, 2025, the company had cash, cash equivalents, and marketable securities totaling $158.5 million, down from $220.1 million at the end of 2024, with an estimated cash runway extending into the fourth quarter of 2027 [13][12] - Research and Development (R&D) expenses for Q2 2025 were $26.9 million, slightly lower than $27.2 million in Q2 2024, while General and Administrative (G&A) expenses decreased to $7.8 million from $8.3 million in the same period [13][20] - The net loss for Q2 2025 was $32.5 million, compared to a net loss of $31.2 million in Q2 2024 [13][20] Pipeline Development - CNTY-101 is currently in a Phase 1 trial (CALiPSO-1) for B-cell-mediated autoimmune diseases, with patient dosing ongoing and clinical data expected by year-end 2025 [5][6] - CNTY-308 is advancing through IND-enabling studies as a potential treatment for B-cell-mediated diseases, with plans to initiate clinical studies in 2026 [4][7] Corporate Updates - Brent Pfeiffenberger has been appointed as Board Chair, succeeding Joe Jimenez, who will continue as a special advisor [2][12] - The company has made strategic decisions to focus on high-potential programs, including a workforce reduction to align resources with its pipeline development activities [12][5]

Financial Data and Key Metrics Changes - The company reported record revenues of $150.8 million for Q2 2025, a 10% increase year-over-year, and a 50% sequential increase in adjusted EBITDAR to $30.3 million [5][30] - The net debt to EBITDA ratio improved from 6.9 times to 6.2 times, and lease adjusted ratio decreased from 7.6 to 7.3 [30][31] Business Line Data and Key Metrics Changes - The Caruthersville Casino and Hotel in Missouri saw a 24% revenue growth and a 30% increase in EBITDAR, with a 43% margin [10][12] - The new hotel at Casiarado contributed to a doubling of cash revenue compared to the same quarter last year, with food and beverage revenue increasing by 31% [14] - The Mountaineer Casino Resort in West Virginia reported a 12% increase in EBITDA, driven by a 39% increase in iGaming revenue [22] Market Data and Key Metrics Changes - In Poland, total revenue grew 23% year-over-year, resulting in a 306% increase in EBITDAR from $0.5 million in 2024 to $1.8 million in 2025 [28] - The Canadian segment saw a 6% increase in slot coin-in and a 2.8% growth in EBITDAR [26] Company Strategy and Development Direction - The company announced a partnership with BetMGM to operate an online sports betting application in Missouri, expected to contribute significantly to financials in 2026 [6][7] - A strategic review of operations and capital structure is underway, exploring potential asset sales and strategic partnerships to enhance shareholder value [35][36] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding consumer sentiment and spending power, particularly benefiting from recent legislative changes [33] - The company anticipates continued growth in the second half of the year, supported by improved trends in various sectors [58] Other Important Information - The company is committed to divesting its Polish operations and expects to sign a letter of intent with an Eastern European gaming group soon [8][29] - The company has no debt maturities until 2029 and plans to spend no more than $20 million on growth and maintenance projects this year [30][31] Q&A Session Summary Question: What is driving the improvement in margins at Rocky Gap despite weather disruptions? - Management noted a comeback of lower-end customers and a more granular marketing strategy leading to increased slot and hotel revenue [40][42] Question: Why was the stock repurchase amount lower than expected? - The company faced volume and timing limits under its 10b5-1 plan, affecting the total repurchase amount [43][47] Question: What is the outlook for Poland's growth? - The growth is attributed to the timing of licenses and openings, with expectations to return to previous revenue levels by Q4 [50][56] Question: Are there benefits from consumers staying closer to home instead of traveling to Las Vegas? - Management indicated a larger reach due to improved capacity and product offerings, potentially attracting customers who prefer local options [71][72] Question: What is the long-term EBITDAR target? - The company maintains that a target of $150 million EBITDAR is reasonable, contingent on the return of retail and lower-end customers [79][80]