Century Casinos Reports $137.2 Million in Q1 Revenue

(AsiaGameHub) –   Century Casinos reported higher first-quarter revenue, stronger operating earnings, and a smaller net loss as North American properties delivered better results.

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Good to Know

• Net operating revenue rose 5% to $137.2 million in Q1 2026.
• Adjusted EBITDAR increased 24% to $24.9 million.
• Net loss narrowed to $16.5 million from $20.6 million a year earlier.

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Century Casinos started 2026 with its highest first-quarter net operating revenue ever recorded, supported by improvements in both the US and Canada.

In the three months ending March 31, the Nasdaq-listed casino operator generated $137.2 million in net operating revenue, up from $130.4 million in Q1 2025. Operating income surged 65% to $11.8 million.

The net loss attributable to Century Casinos shareholders decreased to $16.5 million, compared with $20.6 million in the previous year. Both basic and diluted loss per share were $0.58, down from $0.67.

North America Drives Q1 Growth

Adjusted EBITDAR grew 24% to $24.9 million, with every North American segment showing year-over-year increases.

The US Midwest remained the top revenue segment at $41.8 million, up 5%. The US East also expanded 5% to $38.9 million, while the US West rose 4% to $17.1 million. Canada experienced the strongest revenue growth, climbing 11% to $18.3 million. Poland saw a 2% increase to $21.1 million.

Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos, stated:

“The first quarter of 2026 set a new record for net operating revenue in any first quarter in the company’s history, and all North American properties surpassed the first quarter of 2025 in both net operating revenue and Adjusted EBITDAR.

“This growth was fueled by strong play from our high-value and core customer segments. We are especially encouraged by the performance at the Nugget, which achieved a 93% rise in Adjusted EBITDAR compared to the first quarter of 2025.”

Operating profits also improved across key regions. The US Midwest grew 23% to $11.8 million, Canada increased 27% to $4.3 million, and the US East reached $1.5 million, up from $435,000. The US West reduced its operating loss to $2 million from $2.7 million.

Adjusted EBITDAR reached $15.6 million in the US Midwest, $5.4 million in the US East, $1.4 million in the US West, and $5.5 million in Canada. Poland declined 8% to $505,000 and posted an operating loss of $177,000.

At the end of the quarter, Century Casinos held $60 million in cash and cash equivalents, down from $68.9 million at December 31, 2025. Total outstanding debt stood at $336.7 million, slightly lower than $337.7 million on December 31.

The company also disclosed a $712.0 million long-term financing obligation linked to its master lease agreement with subsidiaries of VICI Properties. Its Consolidated First Lien Net Leverage Ratio was above 5.50 to 1.00 at the end of March, although no revolving loans, swingline loans, or letters of credit were drawn under the Goldman Sachs Bank USA credit facility.