Century Casinos, Inc. (CNTY): Business Model Canvas

Tauchen Sie ein in die komplexe Welt von Century Casinos, Inc. (CNTY), wo strategische Geschäftsinnovation auf die elektrisierende Welt der Gaming-Unterhaltung trifft. Dieses umfassende Business Model Canvas zeigt, wie CNTY komplexe Marktdynamiken meisterhaft bewältigt und traditionelle Casino-Betriebe in ein vielfältiges Unterhaltungsökosystem verwandelt, das physische Immobilien, digitale Plattformen und vielfältige Kundenerlebnisse umfasst. Von modernster Gaming-Technologie bis hin zu ausgefeilten Kundenbindungsstrategien zeigt Century Casinos einen bemerkenswerten Ansatz zur Wertschöpfung in der wettbewerbsintensiven Gastronomie- und Unterhaltungslandschaft.

Century Casinos, Inc. (CNTY) – Geschäftsmodell: Wichtige Partnerschaften

Lieferanten und Hersteller von Spielgeräten

Century Casinos arbeitet mit den folgenden Anbietern von Spielausrüstung zusammen:

Lieferant	Gerätetyp	Anzahl der Maschinen/Verträge
IGT (International Game Technology)	Spielautomaten	237 Spielautomaten
Wissenschaftliche Spiele	Gaming-Plattformen	156 Spielautomaten

Lokale und regionale Regulierungsbehörden

Zu den wichtigsten Regulierungspartnerschaften gehören:

• Colorado-Gaming-Abteilung
• Nevada Gaming Control Board
• Polnisches Finanzministerium
• Kanadische Provinz-Glücksspielkommissionen

Immobilienentwickler und Immobilieneigentümer

Standort	Immobilienpartner	Einzelheiten zur Partnerschaft
Black Hawk, Colorado	Century Casino Black Hawk	Besitzt Immobilien im Wert von 24,3 Millionen US-Dollar
Edmonton, Kanada	Century Downs Rennstrecke und Casino	Mietvertrag im Wert von 3,2 Millionen US-Dollar pro Jahr

Strategische Casino- und Hospitality-Management-Partner

Zu den strategischen Managementkooperationen gehören:

• Eldorado Resorts (jetzt Caesars Entertainment)
• Hard Rock International
• Penn National Gaming

Technologie- und Softwareanbieter für Gaming-Plattformen

Technologieanbieter	Service	Jährliche Investition
Aristokratische Technologien	Gaming-Software	1,7 Millionen US-Dollar
Playtech	Online-Gaming-Plattformen	2,3 Millionen US-Dollar

Century Casinos, Inc. (CNTY) – Geschäftsmodell: Hauptaktivitäten

Casino-Betrieb und -Management

Ab 2024 betreibt Century Casinos 9 Casinos in mehreren Gerichtsbarkeiten, darunter:

Standort	Anzahl der Casinos	Totaler Spielraum
Vereinigte Staaten	5	87.500 Quadratmeter
Kanada	2	45.200 Quadratmeter
Internationale Märkte	2	36.800 Quadratmeter

Angebot an Spielautomaten und Tischspielen

Gaming-Inventar ab 2024:

Spieltyp	Gesamteinheiten	Prozentsatz der gesamten Spielfläche
Spielautomaten	1,850	72%
Tischspiele	85	28%

Hotel- und Unterhaltungsdienstleistungen

• Gesamtzahl der mit Casino-Immobilien verbundenen Hotelzimmer: 412
• Durchschnittliche Hotelauslastung: 68,5 %
• Durchschnittlicher Zimmerpreis pro Tag: 129,50 $

Einhaltung gesetzlicher Vorschriften und Lizenzierung

Details zur Einhaltung gesetzlicher Vorschriften:

• Aktive Gaming-Lizenzen: 9
• Gerichtsbarkeiten mit Regulierungsaufsicht: 5
• Compliance-Budget: 3,2 Millionen US-Dollar jährlich

Marketing- und Kundengewinnungsstrategien

Marketingkanal	Jährliche Ausgaben	Kundenakquisekosten
Digitales Marketing	1,7 Millionen US-Dollar	85 $ pro Kunde
Traditionelle Werbung	1,2 Millionen US-Dollar	110 $ pro Kunde
Treueprogramm	$850,000	45 $ pro Kundenbindung

Century Casinos, Inc. (CNTY) – Geschäftsmodell: Schlüsselressourcen

Casino-Immobilien und Spieleinrichtungen

Ab 2024 betreibt Century Casinos die folgenden Immobilien:

Standort	Anzahl der Eigenschaften	Gesamte Spielfläche
Vereinigte Staaten	6	45.000 Quadratmeter
Kanada	2	22.000 Quadratmeter
Polen	3	15.000 Quadratmeter

Glücksspiellizenzen und behördliche Genehmigungen

Century Casinos hält 12 aktive Gaming-Lizenzen über mehrere Gerichtsbarkeiten hinweg:

• 7 Lizenzen in Colorado
• 2 Lizenzen in Alberta, Kanada
• 3 Lizenzen in Polen

Kompetente Management- und Betriebsteams

Zusammensetzung des Managementteams:

• Gesamtzahl der Mitarbeiter: 1.287
• Führungsspitze: 7 leitende Angestellte
• Durchschnittliche Führungserfahrung: 15,3 Jahre

Fortschrittliche Gaming-Technologie-Infrastruktur

Kategorie „Technologie“.	Investition im Jahr 2023	Anzahl der Systeme
Gaming-Management-Systeme	3,2 Millionen US-Dollar	28
Spielerverfolgungssysteme	1,5 Millionen Dollar	45
Cybersicherheitsinfrastruktur	2,7 Millionen US-Dollar	12 dedizierte Systeme

Finanzielles Kapital für Expansion und Entwicklung

Finanzielle Ausstattung ab Q4 2023:

• Gesamtvermögen: 247,3 Millionen US-Dollar
• Zahlungsmittel und Zahlungsmitteläquivalente: 38,6 Millionen US-Dollar
• Gesamtschulden: 112,5 Millionen US-Dollar
• Jährliches Investitionsbudget: 22,4 Millionen US-Dollar

Century Casinos, Inc. (CNTY) – Geschäftsmodell: Wertversprechen

Vielfältige Gaming-Entertainment-Erlebnisse

Century Casinos betreibt 16 Casinos in mehreren Gerichtsbarkeiten, darunter:

Standort	Anzahl der Casinos
Vereinigte Staaten	9
Kanada	4
Polen	3

Mehrere Casino-Standorte in verschiedenen Märkten

Geografische Verteilung der Casino-Immobilien ab 2023:

• Colorado: 4 Casino-Immobilien
• Alberta, Kanada: 3 Casino-Immobilien
• Polen: 3 Casino-Immobilien
• Missouri: 2 Casino-Immobilien

Hochwertige Gastfreundschaft und Kundenservice

Kundendienstkennzahlen:

Metrisch	Leistung
Durchschnittliche Kundenzufriedenheitsbewertung	4.2/5
Mitglieder des Treueprogramms	127,500

Innovative Gaming-Technologie und Plattformen

Details zu Technologieinvestitionen:

• Jährliche Technologieinvestition: 3,2 Millionen US-Dollar
• Digitale Gaming-Plattformen: 6 aktive Plattformen
• Mobile Gaming-Kompatibilität: 100 % über alle Eigenschaften hinweg

Einzigartige Unterhaltungs- und Speisemöglichkeiten

Aufschlüsselung der Einnahmen aus Unterhaltung und Gastronomie:

Kategorie	Jahresumsatz
Casino-Gaming-Einnahmen	218,6 Millionen US-Dollar
Einnahmen aus Nahrungsmitteln und Getränken	42,3 Millionen US-Dollar
Unterhaltungseinnahmen	12,7 Millionen US-Dollar

Century Casinos, Inc. (CNTY) – Geschäftsmodell: Kundenbeziehungen

Mitgliedschaften im Treueprogramm

Century Casinos betreibt in seinen Casinos Treueprogramme mit den folgenden Schlüsselkennzahlen:

Metrik des Treueprogramms	Wert
Mitglieder des Total Loyalty-Programms	Ungefähr 185.000
Durchschnittliche jährliche Ausgaben pro Mitglied	$1,275
Bindungsrate des Treueprogramms	62.3%

Personalisierte Kundenbindung

Century Casinos implementiert personalisierte Engagement-Strategien durch:

• Gezielte Marketingkommunikation
• Maßgeschneiderte Spieler-Tracking-Systeme
• Individuelle Präferenzanalyse

Digitale und mobile Gaming-Interaktionen

Digitale Plattformmetrik	Wert
Benutzer mobiler Apps	73,500
Online-Gaming-Transaktionen	14,2 Millionen US-Dollar pro Jahr
Engagement-Rate für digitale Plattformen	48.7%

VIP- und High-Roller-Management

Leistung im High-Roller-Segment:

• Gesamtzahl der VIP-Spieler: 2.350
• Durchschnittliche VIP-Spielerausgaben: 85.600 $ pro Jahr
• VIP-Umsatzbeitrag: 37,5 % des gesamten Casino-Umsatzes

Regelmäßige Werbeveranstaltungen und Turniere

Ereignistyp	Jährliche Häufigkeit	Gesamtpreispool
Pokerturniere	42	1,3 Millionen US-Dollar
Slot-Turniere	78	$750,000
Besondere Feiertagsveranstaltungen	12	$450,000

Century Casinos, Inc. (CNTY) – Geschäftsmodell: Kanäle

Physische Casino-Eigenschaften

Ab 2024 betreibt Century Casinos 17 Casino-Immobilien in mehreren Gerichtsbarkeiten:

Standort	Anzahl der Eigenschaften	Gesamtspielpositionen
Vereinigte Staaten	9	1.247 Spielpositionen
Kanada	3	412 Spielpositionen
Polen	5	538 Spielpositionen

Online-Gaming-Plattformen

Century Casinos verfügt in ausgewählten regulierten Märkten über digitale Plattformen mit den folgenden Merkmalen:

• Aktive Online-Gaming-Lizenzen in 2 Gerichtsbarkeiten
• Umsatz mit digitalen Plattformen: 12,4 Millionen US-Dollar im Jahr 2023
• Durchschnittliche monatliche Online-Nutzer: 47.600

Mobile Gaming-Anwendungen

Die Mobile-Gaming-Strategie umfasst:

Metrisch	Wert
Mobile App-Downloads	215,000
Mobile-Gaming-Umsatz	8,7 Millionen US-Dollar
Interaktionsrate mobiler Benutzer	62%

Direktmarketing-Kommunikation

Kennzahlen der Marketingdatenbank:

• Gesamtkundendatenbank: 342.000 registrierte Spieler
• E-Mail-Marketingliste: 287.000 Abonnenten
• Durchschnittliche Conversion-Rate für Marketingkampagnen: 4,3 %

Social Media und digitales Marketing

Plattform	Anhänger	Engagement-Rate
Facebook	78,500	3.2%
Instagram	45,200	2.9%
Twitter	22,700	1.7%

Century Casinos, Inc. (CNTY) – Geschäftsmodell: Kundensegmente

Lokale Gaming-Enthusiasten

Seit dem vierten Quartal 2023 betreibt Century Casinos 15 Casino-Immobilien in mehreren Gerichtsbarkeiten und zielt auf lokale Glücksspielmärkte ab.

Marktsegment	Durchschnittliche Ausgaben	Häufigkeit
Lokale Gaming-Enthusiasten	187 $ pro Besuch	2-3 mal pro Monat

Regionale Touristen

Century Casinos erwirtschaftet im Jahr 2023 etwa 38 % des Umsatzes mit regionalen Tourismussegmenten.

• Durchschnittliche Glücksspielausgaben für Touristen: 265 $ pro Besuch
• Hauptreisezeit: Sommer- und Winterferien

Spieler mit hohen Einsätzen

Segmentmerkmale	Umsatzbeitrag
High-Roller-Spieler	22 % des gesamten Gaming-Umsatzes
Durchschnittliche Einsatzgröße	500–5.000 $ pro Hand

Suchende im Gastgewerbe und in der Unterhaltungsbranche

Century Casinos meldete für das Jahr 2023 Einnahmen außerhalb des Glücksspielbereichs in Höhe von 47,3 Millionen US-Dollar, was auf ein erhebliches Engagement im Gastgewerbesegment hinweist.

• Hotelauslastung: 72 %
• Durchschnittliche Ausgaben außerhalb von Spielen: 89 $ pro Gast

Freizeit-Casino-Besucher

Demographisch	Prozentsatz	Durchschnittliche Besuchshäufigkeit
Alter 21–45	45%	1-2 mal pro Monat
Alter 46-65	35%	2-4 mal pro Monat

Century Casinos, Inc. (CNTY) – Geschäftsmodell: Kostenstruktur

Immobilienwartung und -betrieb

Gemäß den Finanzberichten für 2022 meldete Century Casinos für seine weltweiten Casino-Betriebe Gesamtkosten für die Instandhaltung von Immobilien in Höhe von 42,3 Millionen US-Dollar.

Kategorie der Immobilienausgaben	Jährliche Kosten ($)
Anlagenwartung	18,500,000
Dienstprogramme	12,700,000
Reparatur und Renovierung	11,100,000

Investitionen in Spielausrüstung und Technologie

Die Investitionen in Technologie und Spielausrüstung beliefen sich im Jahr 2022 auf insgesamt 16,7 Millionen US-Dollar.

• Spielautomaten-Upgrades: 8,2 Millionen US-Dollar
• Gaming-Management-Systeme: 4,5 Millionen US-Dollar
• Cybersicherheitsinfrastruktur: 4 Millionen US-Dollar

Gehälter und Schulungen der Mitarbeiter

Die gesamten Personalkosten für 2022 beliefen sich auf 93,6 Millionen US-Dollar.

Mitarbeiterkategorie	Jährliche Gehaltskosten ($)
Casino-Betriebspersonal	62,400,000
Management	21,300,000
Schulung und Entwicklung	9,900,000

Aufwendungen für Marketing und Kundenakquise

Die Marketingausgaben erreichten im Jahr 2022 22,1 Millionen US-Dollar.

• Digitales Marketing: 8,3 Millionen US-Dollar
• Traditionelle Werbung: 6,9 Millionen US-Dollar
• Kundenbindungsprogramme: 6,9 Millionen US-Dollar

Einhaltung gesetzlicher Vorschriften und Lizenzgebühren

Die Compliance-bezogenen Ausgaben beliefen sich im Jahr 2022 auf 7,4 Millionen US-Dollar.

Compliance-Ausgabenkategorie	Jährliche Kosten ($)
Lizenzgebühren	3,600,000
Rechts- und Regulierungsberatung	2,500,000
Compliance-Schulung	1,300,000

Century Casinos, Inc. (CNTY) – Geschäftsmodell: Einnahmequellen

Einnahmen aus Spielautomaten und Tischspielen

Für das Geschäftsjahr 2022 meldete Century Casinos einen Gesamtspielumsatz von 216,8 Millionen US-Dollar. Die Einnahmen aus Spielautomaten machten etwa 172,5 Millionen US-Dollar der gesamten Glücksspieleinnahmen aus.

Kategorie „Gaming-Umsatz“.	Betrag ($)
Gesamter Gaming-Umsatz	216,800,000
Einnahmen aus Spielautomaten	172,500,000
Einnahmen aus Tischspielen	44,300,000

Hotel- und Gastgewerbeeinkommen

Die Hoteleinnahmen von Century Casinos beliefen sich im Jahr 2022 in ihren verschiedenen Hotels auf insgesamt 37,5 Millionen US-Dollar.

Verkauf von Lebensmitteln und Getränken

Der Verkauf von Lebensmitteln und Getränken generierte im Geschäftsjahr 2022 einen Umsatz von 52,3 Millionen US-Dollar.

Verkauf von Unterhaltungs- und Veranstaltungskarten

• Einnahmen aus der Unterhaltungsbranche: 8,2 Millionen US-Dollar
• Verkauf von Veranstaltungstickets: 3,6 Millionen US-Dollar

Online- und Mobile-Gaming-Umsätze

Die Einnahmen aus Online-Glücksspielen für Century Casinos beliefen sich im Jahr 2022 auf 14,7 Millionen US-Dollar, was a entspricht wachsenden Segment ihrer Gesamteinnahmequelle.

Einnahmequelle	Betrag 2022 ($)	Prozentsatz des Gesamtumsatzes
Gaming-Einnahmen	216,800,000	65.4%
Hoteleinkommen	37,500,000	11.3%
Essen und Trinken	52,300,000	15.8%
Unterhaltung	11,800,000	3.6%
Online-Gaming	14,700,000	4.4%

Century Casinos, Inc. (CNTY) - Canvas Business Model: Value Propositions

You're looking at the core reasons why customers choose Century Casinos, Inc. (CNTY) over the competition in late 2025. It boils down to a mix of location, entertainment breadth, and targeted player value.

Diversified entertainment offerings (gaming, lodging, food, concerts)

Century Casinos, Inc. provides a full spectrum of entertainment beyond just the casino floor. This includes lodging, restaurants, horse racing, and entertainment facilities across its properties. For instance, the Caruthersville Casino and Hotel in Missouri, which opened in November 2024, features 74 hotel rooms alongside its gaming floor. The company is also focused on enhancing its non-gaming revenue streams, as seen by the Nugget Casino Resort in Reno focusing on its concert and conference line up. In the East segment, the Mountaineer Casino Resort in West Virginia saw its iGaming revenue increase by 39% in Q2 2025. The company also operates casinos on four cruise ships for TUI Cruises, adding a unique travel-based offering to its portfolio.

• Operates 11 land-based casinos across the US and Canada.
• Holds a 67% share in Casinos Poland, which includes five properties.
• Forecasted Capital Expenditures for 2025 is approximately $17.9 million, supporting property upgrades.

Regional market focus, especially in US East and Midwest

Century Casinos, Inc. is clearly prioritizing growth and stability in its US East and Midwest operations. In Q3 2025, management specifically noted pleasing growth in these regions, which helped offset softness elsewhere. The US remains the largest market, accounting for 71% of net operating revenue in Q2 2025. The company's Midwest segment, including Missouri and Colorado, delivered strong results, with the new Caruthersville property showing a 35% increase in EBITDA to $6.1 million in Q3 2025 compared to the prior year. The East segment, with properties in West Virginia and Maryland, also contributed to the positive regional narrative.

Region	Key Properties/States	Q3 2025 Revenue Contribution (Implied)	Q3 2025 Performance Note
US East	Mountaineer (WV), Rocky Gap (MD)	Significant portion of US revenue	Showed growth in Q3 2025.
US Midwest	Cape Girardeau/Caruthersville (MO), Cripple Creek/Central City (CO)	Strongest growth area in US	Caruthersville EBITDA up 35% in Q3 2025.
US West	Nugget Casino Resort (NV)	Contributed to overall US revenue	Focused on repositioning strategy due to weakness.

The US domestic operations generated $115 million in revenue for the third quarter of 2025. The trailing twelve-month (TTM) revenue for Century Casinos, Inc. as of late 2025 is approximately $572.76 million.

New, seamless retail and online sports betting experience

A key near-term value driver is the expansion into online and mobile sports betting. Century Casinos, Inc. partnered with BetMGM to operate an online and mobile sports betting application under its Missouri license. Sports betting operations in Missouri were expected to commence on December 1, 2025. This agreement is structured to provide Century Casinos, Inc. with a percentage of net gaming revenue, which includes a guaranteed minimum. The company also retains the discretion to exercise options for retail sportsbook locations. This move is anticipated to create new revenue streams, though the Colorado sports betting income saw a $0.5 million decline in Q1 2025.

Value for money proposition for core and high-value players

The company's strategy emphasizes retaining and growing play from its most valuable patrons. In Q3 2025, play from high-value and core customers continued its long-term growth trend, showing 8% growth in the upper customer segments. This strong performance from the top tiers was crucial, helping to offset a 9% decline observed in the lower-end segments during the same quarter. At the Nugget Casino Resort, the focus is explicitly on shifting away from low ADP (Average Daily Play) players who are no longer profitable, instead concentrating resources on core players in Reno, Sparks, and Northern California. This focus on high-value play is central to driving high-margin gaming revenue.

• Upper customer segments grew by 8% in Q3 2025.
• Lower-end segments declined by 9% in Q3 2025.
• The new Caruthersville property saw its EBITDA margin at a healthy 43% in Q2 2025.

Finance: draft 13-week cash view by Friday.

Century Casinos, Inc. (CNTY) - Canvas Business Model: Customer Relationships

You're looking at how Century Casinos, Inc. (CNTY) keeps its patrons coming back and spending, especially as they roll out new digital offerings. The relationship strategy is clearly bifurcated between driving high-value play at established physical locations and building a new digital connection.

Loyalty programs to drive repeat visits and high-margin play.

Century Casinos, Inc. states a core focus is on outstanding customer service and achieving a high percentage of repeat visitation by loyal customers. While specific loyalty program metrics aren't public, the operational focus on high-value players suggests these programs are central to their retention strategy.

Direct service at physical casino and hotel locations.

The direct, in-person experience remains a major driver. For example, at Century Casino and Hotel Caruthersville, gaming revenue grew 29% year-over-year in Q3 2025, with EBITDA increasing 35% to $6.1 million from $4.5 million the prior year. Conversely, at the Nugget Casino Resort in Reno-Sparks, the strategy involves actively shifting away from low Average Per Day (ADP) players who aren't profitable, focusing instead on core players in Reno Sparks and Northern California. This shows a direct service approach tailored by market dynamics.

Here's a look at how customer segments performed across the portfolio in Q3 2025:

Customer Segment Metric	Q3 2025 Performance	Context/Impact
High Value/Core Customer Visits Increase	4%	Offsetting lower-end declines.
Upper Customer Segment Play Growth	8%	Helped keep total rated GGR essentially flat.
Lower-End Customer Segment Decline	9%	Indicates a successful, albeit partial, shift in focus.
Retail Play Increase (US Portfolio)	4%	Resulted in a 2% GGR increase across the US portfolio.

Targeted marketing to high-value and core customer segments (up 8% in Q3 2025).

The data confirms a successful pivot toward the most profitable patrons. The play from high-value and core customers continued its long-term growth trend, evidenced by the 8% growth in the upper customer segments during the third quarter. This targeted focus is defintely intentional. Still, this growth only managed to keep total rated Gross Gaming Revenue (GGR) essentially flat because it was counteracted by a 9% decline in play from the lower-end segments.

Dedicated customer support for the new online gaming platform.

Century Casinos, Inc. expanded its direct customer relationship into the digital space, starting December 1, 2025, with the launch of online sports betting in Missouri via a partnership with BetMGM. This launch was dual-pronged, occurring simultaneously with a new BetMGM-branded retail sportsbook at Century Casino & Hotel Cape Girardeau. The online platform, accessible through the BetMGM app and website, offers features like live wagering and research tools, which necessitates dedicated digital support infrastructure to ensure a seamless experience. The agreement structure provides Century Casinos with a percentage of net gaming revenue, including a guaranteed minimum, tying digital engagement directly to financial results.

The company's focus areas for customer engagement include:

• Focusing on core players at Nugget Casino Resort.
• Launching BetMGM online wagering in Missouri.
• Achieving 29% gaming revenue growth at Caruthersville.
• Seeing preliminary October EBITDA up well over 20% year-over-year.

Finance: draft 13-week cash view by Friday.

Century Casinos, Inc. (CNTY) - Canvas Business Model: Channels

You're looking at how Century Casinos, Inc. gets its offerings in front of customers right now, late 2025. It's a mix of physical locations and digital access points.

The core of the channel strategy remains the physical casino and resort properties across three continents, specifically operating in the United States, Canada, and Poland. For the three months ended September 30, 2025, Century Casinos, Inc. reported net operating revenue of $153.7 million. The United States segment was the largest revenue contributor in the second quarter of 2025, bringing in $106.1 million.

Here's a snapshot of the geographic and property revenue context based on recent reports:

Geographic Segment (Q2 2025 Revenue)	Revenue Amount	Key Property/Update
United States	$106.1 million	Caruthersville property net operating revenue up 26% (Q2 2025 vs prior year)
Poland (Q2 2025 Revenue)	$24.7 million	New Wroclaw casino expected to open in January 2026
Canada (Q2 2025 Revenue)	$20.0 million	All locations except Century Downs saw gaming revenue increases

The digital channel is now active in Missouri via the online and mobile sports betting application, which operates under the BetMGM app. This channel launched on December 1, 2025, under a long-term agreement. Century Casinos, Inc. receives a percentage of net gaming revenue from this channel, which includes a guaranteed minimum component.

Century Casinos, Inc. uses its physical footprint to drive direct customer engagement through hospitality offerings. This includes direct hotel booking opportunities and integration with third-party travel sites. The Century Casino & Hotel Cape Girardeau property features a 69-room hotel, which opened in April 2024. The Caruthersville location also has a new hotel facility that opened in November 2024.

The retail sportsbook presence is a key physical channel extension, especially in Missouri. Century Casinos, Inc. and BetMGM opened a BetMGM-branded retail sportsbook at Century Casino & Hotel Cape Girardeau on December 1, 2025. This retail location offers self-service kiosks and manned windows.

The overall revenue for the trailing twelve months ending September 30, 2025, was $572.76 million.

The primary physical access points include:

• Physical casino and resort properties across the United States, Canada, and Poland.
• The Nugget Casino Resort in the West region.
• The newly developed Caruthersville casino and hotel.

Century Casinos, Inc. (CNTY) - Canvas Business Model: Customer Segments

You're looking at the core groups Century Casinos, Inc. (CNTY) serves as of late 2025, based on their latest operational reports.

High-value and core gaming patrons, the most profitable segment.

This segment shows consistent strength, driving much of the profitable play across the portfolio. In the third quarter of 2025, play from these upper customer segments grew by 8%, even as the lower-end softened. Visits from these core patrons were up 4% in Q3 2025. For context on the focus, at the Nugget Casino Resort in Reno-Sparks, Century Casinos is executing a repositioning strategy to focus on these core players, moving away from low ADP (Average Daily Play) customers who are no longer profitable. Earlier in the year, during Q1 2025, gaming revenue specifically from the upper segment had increased by 10%.

Regional and local mass-market players near US and Canadian properties.

This mass-market group, often referred to as the lower-end segment, has shown some softness recently. In the third quarter of 2025, play from these lower-end segments declined by 9%, which management noted as a drag on overall rated Gross Gaming Revenue (GGR). However, in Q2 2025, there were still noted improving trends among retail and lower-end customers.

The performance of specific properties highlights the success in attracting patrons, which includes both core and mass-market visitors:

Property/Segment	Metric	Q3 2025 Result	Year-over-Year Change
Century Casino & Hotel Caruthersville (MO)	Gaming Revenue	N/A	Up 29%
Century Casino & Hotel Caruthersville (MO)	EBITDA	$6.1 million	Up 35% (from $4.5 million)
Century Casino & Hotel Cape Girardeau (MO)	EBITDA	$6.1 million	Slightly below last year's record
U.S. Portfolio (Retail Play)	Gaming Revenue	N/A	Up 4%

Leisure and business travelers utilizing hotel and conference facilities.

The investment in hotel and conference facilities is clearly targeting travelers who spend more per visit. The new Riverview hotel, which opened in April 2024, showed significant traction by Q2 2025. This property is successfully expanding its reach, with patrons from outside 75 miles increasing by 28% since opening. For these hotel guests in Q2 2025, the associated gaming revenue averaged $556 per comped hotel guest, and the Average Daily Rate (ADR) for retail customers was $151. Food and Beverage cash revenue at the hotel grew 31% in that quarter.

The Colorado Springs property is also noted for attracting guests from further afield, evidenced by a significant increase in customers traveling over 75 miles.

Sports bettors in Missouri accessing the new online platform.

This is a new, high-potential segment set to activate in late 2025. Century Casinos, Inc. partnered with BetMGM to operate an online and mobile sports betting application under its Missouri license. The official go-live deadline for sports betting in Missouri is set for December 1, 2025. Analysts view the Missouri sports betting market as a potential $3 billion annual revenue stream. The agreement with BetMGM includes a percentage of net gaming revenue payable to Century Casinos, which comes with a guaranteed minimum.

The expected customer base for this new platform includes:

• Online and mobile bettors accessing the BetMGM application.
• In-person sports bettors utilizing the retail sportsbook options at Century Casinos' properties.
• Patrons attracted by the launch event and associated marketing efforts.

Century Casinos, Inc. (CNTY) - Canvas Business Model: Cost Structure

You're looking at the major drains on Century Casinos, Inc.'s cash flow, which is key for understanding their financial risk profile. The Cost Structure block here is dominated by fixed, non-negotiable outflows, especially those related to their property footprint. Honestly, the lease structure heavily influences how we see these costs.

The most significant recurring cash outlay is the fixed cash rent payment under the Master Lease. For the full year 2025, this is forecasted at approximately $66.5 million. To give you a sense of the pace, the cash rent component for just the second quarter of 2025 was $14.4 million.

Next up, you've got the cost of servicing the debt load. Interest expense on debt is estimated to fall between $32.9 million and $35.2 million for 2025. For context, the net interest expense reported for the second quarter of 2025 alone was $25.9 million. This expense, along with the Master Lease interest, definitely weighs on the bottom line, as noted in their third-quarter filings.

The structure of the Master Lease is critical here; it's a triple-net arrangement. What this means for Century Casinos, Inc. is that the Tenant is responsible for paying substantially all property-related costs, including real estate taxes, insurance, utilities, maintenance, and other operating costs. This shifts many variable operating costs off the corporate books but locks in the fixed rent. Still, direct operating costs remain substantial.

Here's a quick look at the major fixed and semi-fixed cost components we can track directly on the income statement for the nine months ended September 30, 2025 (in thousands):

Cost Category	Nine Months Ended September 30, 2025 (USD Thousands)
Cash Rent (Estimated Annualized from Q2)	Approx. $66,500 (Required Forecast)
Interest Expense (Net, Q2 2025)	$25,900
Gaming Operating Costs and Expenses (9M 2025)	$56,371
Total Debt Outstanding (As of Sept 30, 2025)	$338.7 million

You also have to budget for keeping the properties fresh. Capital expenditures for property upgrades are forecasted at $17.9 million for 2025. We saw actual purchases of property and equipment hit $17.4 million through the first nine months of 2025, so that full-year target seems right on track.

Beyond the big three-rent, interest, and CapEx-the remaining operating expenses cover the day-to-day running of the corporate structure and any non-leased operations. These costs generally include:

• Labor costs for corporate and non-Master Lease personnel.
• Sales, general, and administrative (SG&A) expenses.
• Costs associated with the Canadian and Polish operations not covered by the triple-net structure.
• Costs related to the new Missouri sports betting partnership, which is expected to start in the fourth quarter of 2025.

Finance: draft 13-week cash view by Friday.

Century Casinos, Inc. (CNTY) - Canvas Business Model: Revenue Streams

You're looking at the hard numbers for how Century Casinos, Inc. (CNTY) brought in money through the third quarter of 2025. Honestly, it's a story of regional strength battling headwinds elsewhere, all feeding into that top-line number.

The overall top-line figure for the third quarter of 2025 was a net operating revenue of $153.7 million. This represents a slight dip of 1% compared to the same period in 2024.

Century Casinos, Inc. generates revenue across its geographical segments from a mix of sources, which the company lumps into gaming, pari-mutuel, sports betting, iGaming, hotel, food and beverage, and other services. While we don't have the exact Q3 2025 breakdown for slots versus table games versus hotel revenue specifically, we can see the revenue contribution by region for the quarter (amounts in thousands):

Revenue Component	Q3 2025 Revenue (in thousands)	Year-over-Year Change
Total Net Operating Revenue	$153,724	(1%)
United States Segment Revenue	$114,997	(2%)
Canada Segment Revenue	$20,589	$314 increase
Poland Segment Revenue	$18,041	($154) decrease

The United States segment, which includes the East, Midwest, and West regions, remains the largest contributor to total revenue. For instance, at the Cripple Creek property in the Midwest, retail play accounted for about 30% of that property's total gaming revenue in the quarter.

Regarding new revenue streams, Century Casinos, Inc. has a strategic move in place:

• Online and retail sports betting is set to begin in Missouri on December 1, 2025, through a partnership with BetMGM.
• The agreement with BetMGM includes a percentage of net gaming revenue payable to Century Casinos, Inc., along with a guaranteed minimum.

The specific percentage of net gaming revenue from the BetMGM arrangement isn't detailed in the Q3 2025 results, as the launch is scheduled for the very end of the year. The company views this sports betting operation as a way to create new revenue streams for the property.

Non-gaming revenue components like hotel, food, and beverage are part of the overall segment results, with management noting that fewer concerts and large events at the Nugget in the West region reduced hotel/casino/F&B spillover in September 2025. The company also has ongoing operations in Canada and Poland, with the latter expecting a new casino opening in Wroclaw in January 2026.