Century Casinos announced on 7 August 2026 that it delivered an all-time record second-quarter net operating revenue of $152.0 million, up 1% year on year, while adjusted EBITDAR rose 5% to $31.7 million. The company said North American properties provided the momentum, particularly the Nugget and the US Midwest, while Poland weakened. Net loss attributable to shareholders narrowed to $10.9 million, equivalent to $0.39 per share.
Headline results
For the three months ended 30 June 2026, net operating revenue reached $152.0 million, compared with $150,818 thousand in the prior-year period. Earnings from operations increased 4% to $17,180 thousand. Net loss attributable to Century Casinos shareholders was $10,910 thousand, an 11% improvement from $12,309 thousand, while basic and diluted net loss per share were $0.39, against $0.40 a year earlier. Adjusted EBITDAR rose to $31,660 thousand from $30,304 thousand. The company described both the revenue and adjusted EBITDAR figures as all-time records for a second quarter, according to its earnings announcement.
North American operations lead
Across US and Canadian markets, revenue totalled $111.6 million and adjusted EBITDAR was $28.9 million, up 5% and 12% respectively, according to earnings call highlights. US property operating margins improved from 24% to 26%. In the US West segment, net operating revenue rose 16% to $23,378 thousand and adjusted EBITDAR grew 93% to $4.5 million, while the segment's net loss narrowed by 75%. Canada reported net operating revenue of $20,439 thousand, up 2%, with adjusted EBITDAR of $6.2 million, an 11% increase. The US Midwest segment produced $44,680 thousand, up from $41,374 thousand. US East was the only North American region to decline, falling 2% to $43,576 thousand.
Nugget drives US West
Co-chief executives Erwin Haitzmann and Peter Hoetzinger said they were “very pleased” with the North American results, highlighting the Nugget and the US Midwest, which includes Missouri and Colorado properties. The Nugget's adjusted EBITDAR grew by 93% in the second quarter, repeating the first quarter's increase. The company said it would keep working to maintain that performance. The US West result also reflected a 75% improvement in its net loss for the segment.
Missouri and Colorado properties
Within the US Midwest, Missouri's combined net operating revenue increased more than 8%. Property-level adjusted EBITDAR rose 9.6% at Cape Girardeau and 5.5% at Caruthersville. In Colorado, Central City's net operating revenue grew approximately 11.5% and adjusted EBITDAR increased more than 32%, while Cripple Creek's net operating revenue was up 2%. Management noted that Missouri properties delivered a seventh consecutive quarter of year-on-year adjusted EBITDAR growth.
Poland remains a drag
Poland's net operating revenue declined 19% to $19,922 thousand from $24,709 thousand, and adjusted EBITDAR was approximately $0.1 million for the quarter. The co-chief executives attributed the weakness in part to low table hold in June 2026. They said North American results were “negatively impacted” by Poland, but added that they saw signs of improvement that could lead to better results over the next several quarters. July performance supported that view, with Poland generating nearly as much EBITDA in that month as in the entire first half of the year.
Cash, debt and capital investment
Century Casinos reported cash and cash equivalents of $60.2 million at 30 June 2026. Total debt stood at $346.5 million, leaving net debt of $276.3 million. Net debt-to-EBITDA improved to 6.5 times. Capital expenditure was $3.1 million in the second quarter and $5.7 million for the first half, with a full-year 2026 forecast of approximately $15 million.
