Century Casinos (CNTY)
Market Price (9/7/2026): $1.21 | Market Cap: $34.1 MilSector: Consumer Discretionary | Industry: Casinos & Gaming
Century Casinos (CNTY)
Market Price (9/7/2026): $1.21Market Cap: $34.1 MilSector: Consumer DiscretionaryIndustry: Casinos & Gaming
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Low stock price volatilityVol 12M is 50% Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, Markets & Betting, and Digital Content & Streaming. Themes include Travel & Leisure Tech, Show more. | Weak multi-year price returns2Y Excs Rtn is -87%, 3Y Excs Rtn is -152% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 2962% Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -1.4% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -168% Key risksCNTY key risks include [1] a precarious financial position marked by critical leverage and mounting net losses, Show more. |
| Low stock price volatilityVol 12M is 50% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, Markets & Betting, and Digital Content & Streaming. Themes include Travel & Leisure Tech, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -87%, 3Y Excs Rtn is -152% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 2962% |
| Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -1.4% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -168% |
| Key risksCNTY key risks include [1] a precarious financial position marked by critical leverage and mounting net losses, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Century Casinos (CNTY) stock has lost about 10% since 5/31/2026 because of the following key factors:
1. Century Casinos reported a wider-than-expected loss for fiscal Q2 2026 (ended June 30, 2026). The company announced an adjusted loss of $0.39 per share, missing analyst estimates of a $0.33 loss by 17%. While net operating revenue for the quarter was a record $152.0 million, a 1% increase year-over-year, it still fell slightly below the consensus estimate of $153.86 million. This earnings miss, despite strong North American performance, contributed to negative investor sentiment.
2. Persistent underperformance in Polish operations and associated covenant breaches weighed on results. Century Casinos' Polish segment "continued to underperform due, in part, to low table hold in June 2026," negatively impacting overall North American results. Furthermore, as of June 30, 2026, two credit agreements for Casinos Poland Ltd. were not in compliance with all applicable financial covenants, potentially leading to a 0.50% interest rate increase on the outstanding debt.
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Century Casinos (CNTY) stock has lost about 10% since 5/31/2026 because of the following key factors:
1. Century Casinos reported a wider-than-expected loss for fiscal Q2 2026 (ended June 30, 2026). The company announced an adjusted loss of $0.39 per share, missing analyst estimates of a $0.33 loss by 17%. While net operating revenue for the quarter was a record $152.0 million, a 1% increase year-over-year, it still fell slightly below the consensus estimate of $153.86 million. This earnings miss, despite strong North American performance, contributed to negative investor sentiment.
2. Persistent underperformance in Polish operations and associated covenant breaches weighed on results. Century Casinos' Polish segment "continued to underperform due, in part, to low table hold in June 2026," negatively impacting overall North American results. Furthermore, as of June 30, 2026, two credit agreements for Casinos Poland Ltd. were not in compliance with all applicable financial covenants, potentially leading to a 0.50% interest rate increase on the outstanding debt.
3. High financing costs continued to suppress profitability, leading to a prioritization of deleveraging. The company's Q2 2026 net loss attributable to shareholders of $10.9 million was significantly impacted by substantial financing expenses, including $25.9 million in interest on debt and $16.9 million from the VICI master lease obligation. Management has emphasized that reducing leverage is a top priority, putting share repurchases "on the back burner" to focus on debt reduction.
4. Analysts revised down earnings forecasts and price targets for fiscal year 2026. Following the fiscal Q2 2026 results and ongoing operational challenges, analysts trimmed price targets for Century Casinos to $2.50 from $3.00, citing updated assumptions including a slightly lower fair value estimate and a reduced future price-to-earnings multiple. The consensus outlook for earnings per share for fiscal year 2026 deteriorated, with revenue forecasts decreasing from $618.5 million to $599.0 million, and expected losses increasing from $1.19 per share to $1.43 per share.
5. Broader macroeconomic headwinds and increasing competition affected the gaming industry. The overall casino industry faced challenges from mixed economic signals, rising unemployment, and persistent cost pressures such as inflation and labor costs in 2026, contributing to expectations of minimal revenue growth across the sector. Additionally, 81% of gaming executives viewed the emergence of prediction markets as a "very significant threat" due to concerns about unregulated competition and potential impacts on industry credibility.
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Stock Movement Drivers
Fundamental Drivers
The -11.0% change in CNTY stock from 5/31/2026 to 9/6/2026 was primarily driven by a -12.6% change in the company's P/S Multiple.| (LTM values as of) | 5312026 | 9062026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.36 | 1.21 | -11.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 580 | 581 | 0.2% |
| P/S Multiple | 0.1 | 0.1 | -12.6% |
| Shares Outstanding (Mil) | 29 | 28 | 1.6% |
| Cumulative Contribution | -11.0% |
Market Drivers
5/31/2026 to 9/6/2026| Return | Correlation | |
|---|---|---|
| CNTY | -11.0% | |
| Market (SPY) | 1.8% | 16.4% |
| Sector (XLY) | -4.9% | 26.3% |
Fundamental Drivers
The -28.0% change in CNTY stock from 2/28/2026 to 9/6/2026 was primarily driven by a -33.2% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 9062026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.68 | 1.21 | -28.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 573 | 581 | 1.4% |
| P/S Multiple | 0.1 | 0.1 | -33.2% |
| Shares Outstanding (Mil) | 30 | 28 | 6.2% |
| Cumulative Contribution | -28.0% |
Market Drivers
2/28/2026 to 9/6/2026| Return | Correlation | |
|---|---|---|
| CNTY | -28.0% | |
| Market (SPY) | 12.6% | 24.4% |
| Sector (XLY) | -1.5% | 27.5% |
Fundamental Drivers
The -54.5% change in CNTY stock from 8/31/2025 to 9/6/2026 was primarily driven by a -58.5% change in the company's P/S Multiple.| (LTM values as of) | 8312025 | 9062026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.66 | 1.21 | -54.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 575 | 581 | 1.1% |
| P/S Multiple | 0.1 | 0.1 | -58.5% |
| Shares Outstanding (Mil) | 31 | 28 | 8.4% |
| Cumulative Contribution | -54.5% |
Market Drivers
8/31/2025 to 9/6/2026| Return | Correlation | |
|---|---|---|
| CNTY | -54.5% | |
| Market (SPY) | 20.4% | 26.6% |
| Sector (XLY) | -0.3% | 29.4% |
Fundamental Drivers
The -81.4% change in CNTY stock from 8/31/2023 to 9/6/2026 was primarily driven by a -86.3% change in the company's P/S Multiple.| (LTM values as of) | 8312023 | 9062026 | Change |
|---|---|---|---|
| Stock Price ($) | 6.50 | 1.21 | -81.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 462 | 581 | 25.9% |
| P/S Multiple | 0.4 | 0.1 | -86.3% |
| Shares Outstanding (Mil) | 30 | 28 | 7.6% |
| Cumulative Contribution | -81.4% |
Market Drivers
8/31/2023 to 9/6/2026| Return | Correlation | |
|---|---|---|
| CNTY | -81.4% | |
| Market (SPY) | 77.1% | 25.8% |
| Sector (XLY) | 37.7% | 31.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CNTY Return | 91% | -42% | -31% | -34% | -59% | -5% | -80% |
| Peers Return | 11% | -38% | 4% | -6% | -8% | 2% | -36% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 106% |
Monthly Win Rates [3] | |||||||
| CNTY Win Rate | 67% | 25% | 42% | 50% | 33% | 44% | |
| Peers Win Rate | 52% | 35% | 50% | 48% | 57% | 49% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 56% | |
Max Drawdowns [4] | |||||||
| CNTY Max Drawdown | -30% | -53% | -58% | -59% | -60% | -32% | |
| Peers Max Drawdown | -40% | -49% | -41% | -33% | -41% | -28% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: PENN, BYD, BALY, CZR, MGM. See CNTY Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/4/2026 (YTD)
How Low Can It Go
| Event | CNTY | S&P 500 |
|---|---|---|
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -14.8% | -7.8% |
| % Gain to Breakeven | 17.4% | 8.5% |
| Time to Breakeven | 7 days | 18 days |
| 2020 COVID-19 Crash | ||
| % Loss | -86.4% | -33.7% |
| % Gain to Breakeven | 636.1% | 50.9% |
| Time to Breakeven | 321 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -18.9% | -19.2% |
| % Gain to Breakeven | 23.3% | 23.8% |
| Time to Breakeven | 24 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -10.9% | -3.7% |
| % Gain to Breakeven | 12.2% | 3.9% |
| Time to Breakeven | 22 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -10.3% | -12.2% |
| % Gain to Breakeven | 11.5% | 13.9% |
| Time to Breakeven | 41 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -27.1% | -17.9% |
| % Gain to Breakeven | 37.3% | 21.8% |
| Time to Breakeven | 149 days | 123 days |
In The Past
Century Casinos's stock fell -14.8% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 17.4% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | CNTY | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -86.4% | -33.7% |
| % Gain to Breakeven | 636.1% | 50.9% |
| Time to Breakeven | 321 days | 140 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -27.1% | -17.9% |
| % Gain to Breakeven | 37.3% | 21.8% |
| Time to Breakeven | 149 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -25.2% | -15.4% |
| % Gain to Breakeven | 33.7% | 18.2% |
| Time to Breakeven | 218 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -87.0% | -53.4% |
| % Gain to Breakeven | 669.9% | 114.4% |
| Time to Breakeven | 1921 days | 1085 days |
| Summer 2007 Credit Crunch | ||
| % Loss | -23.1% | -8.6% |
| % Gain to Breakeven | 30.1% | 9.5% |
| Time to Breakeven | 3507 days | 47 days |
In The Past
Century Casinos's stock fell -14.8% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 17.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Century Casinos (CNTY)
Century Casinos, Inc. (CNTY) operates as a casino entertainment company, specializing in the development and operation of gaming establishments. Its core business is to provide comprehensive leisure and entertainment experiences primarily centered around casino gaming. The company's offerings extend beyond traditional casino floors to include a variety of related hospitality and entertainment amenities, creating integrated resort experiences for its patrons.
The main products and services offered by Century Casinos encompass a diverse range of gaming options within its land-based casinos. These facilities are frequently complemented by lodging, full-service restaurants, horse racing tracks, and other entertainment venues. Additionally, as of early 2022, the company further diversified its portfolio by operating ship-based casinos, catering to customers seeking unique gaming and leisure experiences at sea.
Century Casinos targets a broad customer base interested in entertainment, gaming, dining, and accommodation. Its primary markets are geographically distributed across the United States, Canada, and Poland, allowing the company to serve both local residents and tourists in these regions. This international footprint enables Century Casinos to tap into various demographics seeking a complete entertainment and hospitality package.
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Think of Century Casinos as a smaller, internationally diversified version of a regional casino operator like Penn Entertainment.
It's like a 'boutique' casino and entertainment company compared to giants like MGM Resorts or Caesars Entertainment, with properties in the US, Canada, and Poland.
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- Casino Gaming: Operating various gaming establishments, including land-based and ship-based casinos, offering a range of games to patrons.
- Lodging: Providing hotel accommodations adjacent to or integrated within their casino properties.
- Restaurant Services: Offering diverse food and beverage options to guests across their entertainment complexes.
- Horse Racing Operations: Managing and operating facilities that host horse racing events.
- Entertainment Facilities: Providing various non-gaming entertainment options such as live shows and events within their venues.
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Major Customers of Century Casinos (CNTY)
Century Casinos, Inc. primarily serves individual customers rather than other businesses. Its customer base can be broadly categorized into the following:
- Casino Patrons: Individuals who visit Century Casinos' gaming establishments for activities such as slot machines, table games, and poker. This category includes both casual gamblers and more dedicated players seeking entertainment and the chance to win.
- Leisure and Hospitality Guests: Individuals who utilize the company's non-gaming amenities. This includes guests staying at their lodging facilities (hotels), diners frequenting their restaurants and bars, and visitors using other integrated resort services like spas or retail outlets.
- Entertainment and Event Attendees: Individuals who attend specific events or utilize specialized facilities offered by Century Casinos. This category includes attendees of concerts, shows, live performances, and patrons of their horse racing facilities.
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Erwin Haitzmann, Co-Chief Executive Officer and Chairman of the Board
Erwin Haitzmann co-founded Century Casinos, Inc. in 1992 with Peter Hoetzinger, bringing extensive casino gaming experience to the venture. He previously served as a Casinos Austria executive. Haitzmann has been employed full-time by Century Casinos since May 1993 and has served as either Chief Executive Officer or Co-Chief Executive Officer since March 1994. The company was established with an initial start-up capital of $1.7 million and was listed on NASDAQ in 1994.
Peter Hoetzinger, Co-Chief Executive Officer, President, and Vice Chairman of the Board
Peter Hoetzinger co-founded Century Casinos, Inc. in 1992 alongside Erwin Haitzmann. Prior to co-founding the company, he held various managerial positions within the gaming industry, including with Austrian casino companies, and has served on numerous casino company boards globally. Hoetzinger also previously worked as a Casinos Austria executive. He has been employed full-time by Century Casinos since May 1993 and has been Co-Chief Executive Officer since March 2005. The company began with an initial start-up capital of $1.7 million and became publicly traded in 1994.
Margaret Stapleton, Chief Financial Officer and Corporate Secretary
Margaret Stapleton joined Century Casinos, Inc. in 2005. She has over 30 years of experience in corporate accounting and internal audit. Stapleton has served as Principal Financial Officer and Principal Accounting Officer since May 2010, and as Corporate Secretary since May 2010. She holds a Bachelor of Science degree in Accounting from Regis University, Denver, Colorado.
Andreas Terler, Executive Vice President
Andreas Terler serves as an Executive Vice President and Managing Director of Century Resorts Management GmbH, overseeing operations in the United States. His past roles include IT Consultant at Self Employed, Senior Manager at AI Informatics, and Senior Vice President Operations at Century Casinos, Inc. Terler studied at the Technical University Graz.
Nikolaus Strohriegel, Executive Vice President
Nikolaus Strohriegel is an Executive Vice President and Managing Director of Century Resorts Management GmbH, responsible for operations in Canada and Europe.
AI Analysis | Feedback
The key risks to Century Casinos (CNTY) are primarily centered around its significant debt burden, sensitivity to prevailing macroeconomic conditions impacting consumer discretionary spending, and operational challenges, particularly concerning the underperformance and integration of acquired properties.
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High Indebtedness and Leverage: Century Casinos carries a substantial amount of debt, with outstanding debt of approximately $339.6 million and a long-term financing obligation of $701.0 million under a Master Lease as of December 31, 2024. The majority of this debt is variable rate, exposing the company to increased interest expenses if rates rise. The company's high net debt to EBITDA ratio (e.g., 9.6 as of June 2025) and weak interest coverage (EBIT is just 0.48 times the interest expense) indicate a significant leverage risk, which can constrain its financial flexibility, limit reinvestment into the business, and make it more vulnerable during economic downturns.
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Macroeconomic Factors Affecting Consumer Spending: As a casino entertainment company, Century Casinos' business is highly sensitive to consumer discretionary spending. The company has faced challenges due to broader macroeconomic factors, including persistent inflation and softness in its budget-constrained retail customer segment. Reduced customer visits and spending directly impact revenue and profitability. Economic instability and unpredictable consumer sentiment make future forecasting difficult and pose a continuous risk to the company's financial performance.
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Underperformance of Acquired Properties and Operational Challenges: Century Casinos has experienced underperformance at certain acquired properties, notably the Nugget Casino Resort in Nevada, which has seen lower group bookings and increased competition. Operational challenges, including construction disruptions at its Missouri properties and a noticeable decrease in unrated play at Rocky Gap Casino in Maryland due to economic softness and competition from iGaming, have also negatively impacted financial results. Furthermore, the temporary closures of casinos in Poland have hurt cash flow, and the company recorded significant goodwill impairment charges, such as $43.7 million at the Nugget in Q4 2024 and $26.5 million at Rocky Gap in 2024, signaling issues with the performance and valuation of these assets.
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The clear emerging threat to Century Casinos is the continued expansion and adoption of online gambling (iGaming), which directly competes with their physical casino operations by offering a more convenient and accessible alternative for consumers.
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Century Casinos, Inc. (CNTY) operates in various entertainment and hospitality sectors across the United States, Canada, and Poland. The addressable market sizes for its main products and services are outlined below, with regional clarifications where available.
Gaming Establishments (Casinos and Online Gaming)
- United States:
- The overall U.S. commercial gaming revenue, which includes land-based casinos, sports betting, and online gaming, reached a record $66.5 billion in 2023.
- The U.S. online casino market size was estimated at $6.78 billion in 2024 and is projected to grow to $13.07 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 11.7% from 2025.
- The total U.S. online gaming market, including online sports betting, is projected to generate a gross revenue of $26.8 billion in 2025.
- Canada:
- The Canadian gambling market revenue is expected to close 2025 at $15.6 billion.
- The Canadian online gaming market is projected to reach CAD 5.55 billion (approximately USD 4.09 billion) in 2025, growing at a CAGR of approximately 10.6%.
- Online casino revenue specifically is expected to total $9.6 billion in 2025 in Canada.
- Poland:
- A specific market size for casino gaming in Poland is not readily available in the provided information. Century Casinos operates casinos in Poland through its subsidiary, Casinos Poland Ltd.
Lodging (Hotels)
- United States:
- The U.S. hotels market size was estimated at $263.21 billion in 2024 and is projected to reach $395.79 billion by 2030, growing at a CAGR of 7.1% from 2025.
- Canada:
- The Canadian hotels market size was estimated at $42.34 billion in 2024 and is expected to grow at a CAGR of 8.5% from 2025 to 2030.
- The Hotels & Motels market size in Canada is projected to be $30.9 billion in 2025.
- Poland:
- The Polish hotels and motels industry had total revenues of $3.5 billion in 2022.
- Revenue from Polish accommodation services is expected to surge to €9.6 billion (approximately USD 10.45 billion) by 2028, from €6.7 billion (approximately USD 7.29 billion) in 2023.
Restaurants
- United States:
- The U.S. full-service restaurant market size was valued at $362.15 billion in 2025 and is estimated to grow to $685.11 billion by 2031, at a CAGR of 11.07% from 2026.
- The U.S. full-service restaurants market size is predicted to value at US$ 371.9 billion in 2025.
- Canada:
- The Canadian restaurant industry had an estimated market size of CAD 100 billion (approximately USD 73.74 billion) in 2023.
- The Canadian food service market was valued at USD 115.33 billion in 2024 and is expected to grow to USD 583.47 billion by 2034, with a CAGR of 17.6% from 2025.
- Poland:
- Specific market size data for the restaurant industry in Poland was not available as a standalone figure; it is typically integrated into the broader hospitality or food service market. Revenue from Polish accommodation services (which includes hospitality) is expected to surge to €9.6 billion by 2028.
Horse Racing
- United States:
- The market size of Horse Racing Tracks in the U.S. is $6.3 billion in 2025.
- More than $11.6 billion was bet on races in the U.S. in 2023.
- Canada:
- A specific market size for horse racing in Canada was not explicitly found. The broader Canadian gambling market was reported as $15.1 billion in 2025, which includes horse racing.
- Poland:
- No information regarding the market size for horse racing in Poland was found.
Entertainment Facilities
- A distinct addressable market size for "entertainment facilities" as a standalone product or service, separate from the broader casino and hospitality industries, was not explicitly available in the provided information. These facilities are generally part of the integrated casino resort offerings.
Ship-based Casinos
- A specific addressable market size for ship-based casinos was not explicitly available in the provided information.
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Century Casinos, Inc. (CNTY) is expected to drive future revenue growth over the next two to three years through a combination of strategic expansions, property enhancements, new gaming offerings, and improved operational efficiencies.
- Strategic Acquisitions and Expansions: The company's focus on inorganic expansion and broadening its geographical reach is a key driver. This includes the successful integration and continued enhancement of the Nugget Casino Resort, acquired in April 2023, which aims to boost scale and diversification within the Nevada market. A significant contributor is the new permanent land-based Century Casino & Hotel Caruthersville in Missouri, which replaced a riverboat casino and began operations on November 1, 2024. This expansion is designed to increase slot machines, add hotel rooms, and attract more customers from an expanded geographic reach, leading to improved visitation and margins. Additionally, the new hotel at Century Casino Cape Girardeau is ramping up and expanding its reach into new markets. Century Casinos also expanded its European footprint with the opening of a second casino in Wroclaw, Poland, in February 2026.
- Property Reinvestments and Enhancements: Century Casinos is committed to enhancing its existing properties to attract more customers and improve operational efficiency. This includes high-ROI capital expenditures for slot deployments, hotel refreshes, and non-gaming amenities. Specific initiatives mentioned are renovations at the Nugget targeting mid-to-high single-digit revenue increases through upgrades to rooms, food and beverage, and slots through 2025. Similar floor and amenity upgrades are planned for Cape Girardeau and Cripple Creek to boost visitation, wallet share, and non-gaming spend. These reinvestment cycles are expected to provide near-term operational lifts.
- Introduction and Expansion of New Gaming Offerings: The company is leveraging new gaming options to grow revenue. A notable example is the launch of the BetMGM sportsbook at Cape Girardeau, which adds a sports betting dimension and is considered a future growth catalyst. The introduction of sports betting in Colorado and the removal of betting limits have also benefited the regional gaming market.
- Operational Efficiencies and Customer Engagement: Century Casinos aims to increase visitation and spend through sophisticated, data-driven marketing strategies and technological advancements. This includes data-driven yield management for slot optimization, a unified CRM and offers engine for personalized loyalty communication, and the implementation of cashless and contactless payment systems to enhance customer experience and operational efficiency. Hotel technology upgrades, such as revenue management and mobile check-in, also contribute to lifting Average Daily Rates (ADRs) and reducing labor costs.
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Share Repurchases
- Century Casinos adopted a Rule 10b5-1 trading plan on January 1, 2026, to repurchase up to $1.5 million of its common stock through May 10, 2026.
- An earlier 10b5-1 trading plan was initiated on August 11, 2025, to repurchase up to $2.5 million of outstanding common stock, effective until December 31, 2025.
- In May 2025, the company announced a share repurchase program, with management indicating the buyback would be in the "single-digit million dollar value."
Outbound Investments
- Century Casinos opened a new permanent land-based casino and hotel in Caruthersville, Missouri, in November 2024, a $51.9 million project funded by VICI Properties.
- A partnership with BetMGM was announced in May 2025, leading to the launch of online and mobile sports betting in Missouri by December 1, 2025, and a retail sportsbook at its Cape Girardeau property.
- A second casino was opened in Wroclaw, Poland, in February 2026. The company also completed the acquisition of the operations of Rocky Gap Casino Resort for approximately $56.1 million in October 2023.
Capital Expenditures
- Projected capital expenditures for 2026 are between $14.0 million and $15.4 million, a decrease from approximately $18 million spent in 2025.
- The primary focus of capital expenditures for 2024–2026 is on high-ROI slot deployments, hotel refreshes, and non-gaming amenities, with specific milestones for room and slot reconfigurations, new restaurants, and loyalty integration at properties like Nugget and Missouri sites.
- In Q4 2025, approximately $4.5 million was spent on capital expenditures, primarily for a new retail sportsbook at Cape Girardeau, gaming equipment and exterior upgrades at Mountaineer and Rocky Gap, and the new casino in Poland.
Peer Outperformance in Casinos & Gaming
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| CNTY | Century Casinos | 8.7% | -0.6x | -56.3% | -78.8% | -91.2% | — |
| RRR | Red Rock Resorts | 5.9% | 19.6x | -5.2% | 52.1% | 53.1% | +144pp |
| MGM | MGM Resorts International | 6.4% | 24.6x | 12.4% | -5.0% | -5.1% | +86pp |
| CHDN | Churchill Downs | 11.1% | 14.7x | -14.6% | -26.5% | -20.3% | +71pp |
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Education Services | 14 | -15.4% | 95.2% | 70.9% | LINC 307% · CVSA 244% · PRDO 230% |
| Homebuilding | 18 | -11.3% | 20.3% | 42.7% | GRBK 192% · PHM 148% · TOL 135% |
| Automotive Retail | 18 | -15.9% | 16.0% | 19.1% | MUSA 241% · PAG 187% · ORLY 127% |
| Hotels, Resorts & Cruise Lines | 22 | 14.7% | 54.0% | 10.4% | RCL 235% · MAR 162% · HLT 156% |
| Home Improvement Retail | 5 | -22.7% | -7.1% | 9.8% | HVT 12% · HD 11% · LOW 10% |
| Specialty Stores | 7 | -7.6% | 34.6% | 8.9% | FIVE 37% · SIG 17% · DKS 16% |
| Distributors | 4 | -7.5% | -21.7% | -4.7% | ARMK 144% · GPC 33% · LKQ -42% |
| Home Furnishings | 4 | -6.4% | 26.5% | -11.6% | SGI 62% · LZB 7% · MHK -30% |
| Restaurants | 34 | -10.5% | -11.2% | -12.0% | EAT 342% · CAKE 169% · RAVE 138% |
| Specialized Consumer Services | 10 | -11.7% | 38.2% | -12.3% | HRB 128% · FTDR 85% · SCI 42% |
| Footwear | 9 | 47.3% | 38.0% | -13.8% | WEYS 164% · DECK 26% · SHOO 24% |
| Apparel Retail | 25 | -4.5% | 15.0% | -24.2% | ANF 335% · DXLG 213% · URBN 154% |
| Leisure Products | 13 | -17.2% | -16.3% | -31.4% | GOLF 88% · HAS 13% · MCFT -6% |
| Automotive Parts & Equipment | 38 | -10.1% | -1.2% | -33.9% | MOD 1530% · GTX 293% · STRT 99% |
| Leisure Facilities | 11 | 2.9% | -9.5% | -34.5% | OSW 122% · JAKK 97% · ESCA 17% |
| Casinos & Gaming ← | 20 | -11.8% | -23.0% | -35.7% | MCRI 107% · RSI 61% · RRR 53% |
| Apparel, Accessories & Luxury Goods | 27 | -2.7% | 2.6% | -37.9% | RL 244% · TPR 240% · ELA 227% |
| Household Appliances | 18 | 14.4% | 38.0% | -42.4% | KEQU 174% · FLXS 161% · HBB 119% |
| Broadline Retail | 14 | -10.4% | 20.7% | -52.5% | DDS 318% · EBAY 51% · AMZN 47% |
| Computer & Electronics Retail | 3 | -15.3% | 1.4% | -59.6% | BBY 2% · UPBD -60% · GME -61% |
| Automobile Manufacturers | 8 | -63.7% | -45.0% | -70.0% | GM 88% · F 54% · TSLA 41% |
| Other Specialty Retail | 18 | -26.6% | -43.9% | -75.8% | TLF 109% · BBW 97% · WINA 76% |
| Consumer Electronics | 11 | 1.8% | -7.7% | -80.4% | AXIL 2336% · GRMN 76% · MSN -57% |
Latest Trefis Analyses
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 23.38 |
| Mkt Cap | 4.1 |
| Rev LTM | 5,629 |
| Op Inc LTM | 566 |
| FCF LTM | 58 |
| FCF 3Y Avg | 249 |
| CFO LTM | 651 |
| CFO 3Y Avg | 832 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 2.8% |
| Rev Chg 3Y Avg | 5.0% |
| Rev Chg Q | 2.0% |
| QoQ Delta Rev Chg LTM | 0.5% |
| Op Inc Chg LTM | 4.3% |
| Op Inc Chg 3Y Avg | 15.1% |
| Op Mgn LTM | 8.1% |
| Op Mgn 3Y Avg | 8.7% |
| QoQ Delta Op Mgn LTM | -0.2% |
| CFO/Rev LTM | 11.1% |
| CFO/Rev 3Y Avg | 11.4% |
| FCF/Rev LTM | 0.8% |
| FCF/Rev 3Y Avg | 2.1% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Gaming | 422 | 420 | 412 | 366 | 332 |
| Food and beverage | 57 | 59 | 50 | 24 | 18 |
| Hotel | 49 | 48 | 42 | 10 | 8 |
| Other | 24 | 30 | 25 | 11 | 12 |
| Pari-mutuel, sports betting and iGaming | 20 | 19 | 20 | 20 | 19 |
| Total | 573 | 576 | 550 | 431 | 389 |
| $ Mil | 2005 | 2004 | 2003 |
|---|---|---|---|
| South Africa | 5 | 3 | 3 |
| Cripple Creek | 4 | 5 | |
| Cruise Ships | 1 | 1 | 0 |
| Edmonton | -0 | ||
| Central City | -1 | ||
| Corporate & Other | -4 | -2 | -2 |
| Colorado | -0 | 6 | |
| Total | 6 | 7 | 7 |
| $ Mil | 2006 | 2005 | 2004 |
|---|---|---|---|
| Central City | 49 | 23 | |
| South Africa | 44 | 26 | 25 |
| Edmonton | 39 | 10 | |
| Cripple Creek | 31 | 33 | 33 |
| Corporate & Other | 31 | 30 | 3 |
| Cruise Ships | 2 | 2 | 1 |
| Colorado | 9 | ||
| Total | 196 | 124 | 71 |
Price Behavior
| Market Price | $1.21 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 11/10/1993 | |
| Distance from 52W High | -56.3% | |
| 50 Days | 200 Days | |
| DMA Price | $1.26 | $1.41 |
| DMA Trend | down | down |
| Distance from DMA | -4.2% | -13.9% |
| 3M | 1YR | |
| Volatility | 38.4% | 49.9% |
| Downside Capture | 91.36 | 194.84 |
| Upside Capture | 6.45 | 57.55 |
| Correlation (SPY) | 14.9% | 26.0% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.47 | 0.42 | 0.44 | 0.77 | 1.02 | 1.03 |
| Up Beta | 0.62 | 0.88 | -0.33 | 0.32 | 0.22 | 0.69 |
| Down Beta | -3.16 | 0.32 | 0.90 | 1.37 | 1.22 | 1.36 |
| Up Capture | -34% | 11% | 31% | 28% | 50% | 31% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 9 | 15 | 23 | 48 | 95 | 310 |
| Down Capture | -179% | 40% | 76% | 117% | 146% | 109% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 8 | 21 | 33 | 62 | 127 | 394 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CNTY | |
|---|---|---|---|---|
| CNTY | -56.6% | 49.8% | -1.51 | - |
| Sector ETF (XLY) | -1.7% | 19.4% | -0.21 | 29.4% |
| Equity (SPY) | 19.7% | 12.8% | 1.13 | 26.5% |
| Gold (GLD) | 24.6% | 29.2% | 0.75 | 7.8% |
| Commodities (DBC) | 43.8% | 20.3% | 1.67 | -6.7% |
| Real Estate (VNQ) | 9.1% | 13.6% | 0.39 | 16.1% |
| Bitcoin (BTCUSD) | -28.1% | 43.8% | -0.63 | 16.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CNTY | |
|---|---|---|---|---|
| CNTY | -38.9% | 58.4% | -0.61 | - |
| Sector ETF (XLY) | 5.6% | 24.1% | 0.19 | 39.7% |
| Equity (SPY) | 12.8% | 17.2% | 0.57 | 36.7% |
| Gold (GLD) | 19.1% | 18.8% | 0.82 | 5.1% |
| Commodities (DBC) | 10.7% | 19.5% | 0.43 | 9.6% |
| Real Estate (VNQ) | 1.7% | 18.9% | -0.01 | 34.4% |
| Bitcoin (BTCUSD) | 10.2% | 52.6% | 0.38 | 21.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CNTY | |
|---|---|---|---|---|
| CNTY | -15.9% | 64.0% | -0.00 | - |
| Sector ETF (XLY) | 12.1% | 22.2% | 0.50 | 42.5% |
| Equity (SPY) | 15.3% | 17.9% | 0.72 | 40.6% |
| Gold (GLD) | 12.4% | 16.3% | 0.62 | 8.6% |
| Commodities (DBC) | 7.9% | 18.1% | 0.35 | 17.5% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.19 | 39.4% |
| Bitcoin (BTCUSD) | 63.7% | 66.2% | 1.03 | 14.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 8/18/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/7/2026 | -0.8% | 5.8% | |
| 5/8/2026 | -6.0% | -8.0% | -5.3% |
| 3/13/2026 | 1.5% | 3.1% | 11.5% |
| 11/10/2025 | 7.5% | -9.3% | -16.8% |
| 8/7/2025 | -8.3% | -1.2% | 12.4% |
| 5/12/2025 | 21.8% | 14.3% | 51.7% |
| 3/13/2025 | -0.5% | -3.7% | -26.7% |
| 11/4/2024 | 7.3% | 17.6% | 10.5% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 12 | 15 |
| # Negative | 12 | 13 | 9 |
| Median Positive | 7.5% | 8.2% | 10.5% |
| Median Negative | -2.0% | -4.9% | -12.2% |
| Max Positive | 21.8% | 27.1% | 51.7% |
| Max Negative | -14.9% | -13.1% | -26.7% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/7/2026 | -0.8% | 5.8% | |
| 5/8/2026 | -6.0% | -8.0% | -5.3% |
| 3/13/2026 | 1.5% | 3.1% | 11.5% |
| 11/10/2025 | 7.5% | -9.3% | -16.8% |
| 8/7/2025 | -8.3% | -1.2% | 12.4% |
| 5/12/2025 | 21.8% | 14.3% | 51.7% |
| 3/13/2025 | -0.5% | -3.7% | -26.7% |
| 11/4/2024 | 7.3% | 17.6% | 10.5% |
| 8/8/2024 | -0.4% | -6.8% | 2.6% |
| 5/9/2024 | 1.3% | -1.0% | -11.5% |
| 3/14/2024 | 2.0% | -10.4% | 4.6% |
| 11/9/2023 | -1.8% | 0.7% | -6.1% |
| 8/8/2023 | -2.1% | -4.9% | -24.1% |
| 5/9/2023 | -2.9% | -6.7% | 5.6% |
| 3/10/2023 | 3.1% | 3.3% | 5.8% |
| 11/4/2022 | 1.4% | 13.0% | 0.9% |
| 8/5/2022 | -2.1% | 0.7% | -12.2% |
| 5/6/2022 | -14.9% | -13.1% | -14.0% |
| 3/8/2022 | 12.3% | 12.5% | 14.1% |
| 11/5/2021 | -2.0% | -4.8% | -11.9% |
| 8/6/2021 | -1.4% | -3.3% | 0.5% |
| 5/7/2021 | 10.1% | 10.6% | 20.0% |
| 3/12/2021 | 21.3% | 4.7% | 5.6% |
| 11/6/2020 | 9.0% | -0.9% | 24.5% |
| 8/7/2020 | 11.1% | 27.1% | 30.9% |
| SUMMARY STATS | |||
| # Positive | 13 | 12 | 15 |
| # Negative | 12 | 13 | 9 |
| Median Positive | 7.5% | 8.2% | 10.5% |
| Median Negative | -2.0% | -4.9% | -12.2% |
| Max Positive | 21.8% | 27.1% | 51.7% |
| Max Negative | -14.9% | -13.1% | -26.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/07/2026 | 10-Q |
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 03/18/2026 | 10-K |
| 09/30/2025 | 11/14/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/12/2025 | 10-Q |
| 12/31/2024 | 03/13/2025 | 10-K |
| 09/30/2024 | 11/04/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 03/14/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/10/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/07/2026 | 10-Q |
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 03/18/2026 | 10-K |
| 09/30/2025 | 11/14/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/12/2025 | 10-Q |
| 12/31/2024 | 03/13/2025 | 10-K |
| 09/30/2024 | 11/04/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 03/14/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/10/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| 06/30/2022 | 08/05/2022 | 10-Q |
| 03/31/2022 | 05/06/2022 | 10-Q |
| 12/31/2021 | 03/08/2022 | 10-K |
| 09/30/2021 | 11/05/2021 | 10-Q |
| 06/30/2021 | 08/06/2021 | 10-Q |
| 03/31/2021 | 05/07/2021 | 10-Q |
| 12/31/2020 | 03/12/2021 | 10-K |
| 09/30/2020 | 11/06/2020 | 10-Q |
| 06/30/2020 | 08/07/2020 | 10-Q |
| 03/31/2020 | 05/20/2020 | 10-Q |
| 12/31/2019 | 03/13/2020 | 10-K |
| 09/30/2019 | 11/04/2019 | 10-Q |
Industry Resources
| Consumer Discretionary Resources |
| Retail Dive |
| Business of Fashion (BoF) |
| WWD (Women's Wear Daily) |
| National Retail Federation (NRF) |
| McKinsey & Company - Consumer |
| Mintel Consumer Trends |
| Casinos & Gaming Resources |
| Casino.org News |
| Global Gaming Business |
| CDC Gaming Reports |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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