Century Casinos, Inc. (CNTY): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Sumérgete en el intrincado mundo de Century Casinos, Inc. (CNTY), donde la innovación empresarial estratégica cumple con el reino electrizante del entretenimiento de juegos. Este lienzo completo de modelo de negocio revela cómo CNTY navega magistralmente de la dinámica del mercado compleja, transformando las operaciones de casino tradicionales en un ecosistema de entretenimiento multifacético que abarca propiedades físicas, plataformas digitales y diversas experiencias de clientes. Desde la tecnología de juego de vanguardia hasta las sofisticadas estrategias de participación del cliente, Century Casinos demuestra un enfoque notable para crear valor en el panorama competitivo de hospitalidad y entretenimiento.

Century Casinos, Inc. (CNTY) - Modelo de negocios: asociaciones clave

Proveedores de equipos de juego y fabricantes

Century Casinos se asocia con los siguientes proveedores de equipos de juego:

Proveedor	Tipo de equipo	Número de máquinas/contratos
IGT (Tecnología de Juego Internacional)	Máquinas tragamonedas	237 máquinas de juego
Juegos científicos	Plataformas de juego	156 máquinas de juego

Organismos reguladores del gobierno local y regional

Las asociaciones reguladoras clave incluyen:

• División de juegos de Colorado
• Tablero de control de juegos de Nevada
• Ministerio de Finanzas de Polaco
• Comisiones de juegos provinciales canadienses

Desarrolladores de bienes raíces y propietarios

Ubicación	Socio	Detalles de la asociación
Black Hawk, Colorado	Century Casino Black Hawk	Propiedad de propiedad valorada en $ 24.3 millones
Edmonton, Canadá	Century Downs Racetrack y Casino	Acuerdo de arrendamiento valorado en $ 3.2 millones anuales

Casino estratégico y socios de gestión de hospitalidad

Las colaboraciones de gestión estratégica incluyen:

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

Proveedores de tecnología y software para plataformas de juego

Proveedor de tecnología	Servicio	Inversión anual
Tecnologías aristócratas	Software de juego	$ 1.7 millones
Titular	Plataformas de juego en línea	$ 2.3 millones

Century Casinos, Inc. (CNTY) - Modelo de negocio: actividades clave

Operaciones y gestión del casino

A partir de 2024, Century Casinos opera 9 casinos en múltiples jurisdicciones, que incluyen:

Ubicación	Número de casinos	Espacio de juego total
Estados Unidos	5	87,500 pies cuadrados
Canadá	2	45,200 pies cuadrados
Mercados internacionales	2	36,800 pies cuadrados

Máquina tragamonedas y ofertas de juegos de mesa

Inventario de juegos a partir de 2024:

Tipo de juego	Unidades totales	Porcentaje del piso de juego total
Máquinas tragamonedas	1,850	72%
Juegos de mesa	85	28%

Servicios de hospitalidad y entretenimiento

• Habitaciones de hotel totales asociadas con propiedades del casino: 412
• Tasa promedio de ocupación del hotel: 68.5%
• Tasa promedio de la habitación diaria: $ 129.50

Cumplimiento regulatorio y licencias

Detalles de cumplimiento regulatorio:

• Licencias de juegos activos: 9
• Jurisdicciones con supervisión regulatoria: 5
• Presupuesto de cumplimiento: $ 3.2 millones anuales

Estrategias de marketing y adquisición de clientes

Canal de marketing	Gasto anual	Costo de adquisición de clientes
Marketing digital	$ 1.7 millones	$ 85 por cliente
Publicidad tradicional	$ 1.2 millones	$ 110 por cliente
Programa de fidelización	$850,000	$ 45 por retención de clientes

Century Casinos, Inc. (CNTY) - Modelo de negocios: recursos clave

Propiedades de casino e instalaciones de juego

A partir de 2024, Century Casinos opera las siguientes propiedades:

Ubicación	Número de propiedades	Espacio total en el piso de juego
Estados Unidos	6	45,000 pies cuadrados
Canadá	2	22,000 pies cuadrados
Polonia	3	15,000 pies cuadrados

Licencias de juego y aprobaciones regulatorias

Los casinos del siglo se mantienen 12 licencias de juego activas En múltiples jurisdicciones:

• 7 licencias en Colorado
• 2 licencias en Alberta, Canadá
• 3 licencias en Polonia

Equipos de gestión calificada y operativa

Composición del equipo de gestión:

• Total de empleados: 1.287
• Liderazgo ejecutivo: 7 ejecutivos altos
• Experiencia de gestión promedio: 15.3 años

Infraestructura de tecnología de juegos avanzada

Categoría de tecnología	Inversión en 2023	Número de sistemas
Sistemas de gestión de juegos	$ 3.2 millones	28
Sistemas de seguimiento de jugadores	$ 1.5 millones	45
Infraestructura de ciberseguridad	$ 2.7 millones	12 sistemas dedicados

Capital financiero para la expansión y el desarrollo

Recursos financieros a partir del cuarto trimestre 2023:

• Activos totales: $ 247.3 millones
• Equivalentes en efectivo y efectivo: $ 38.6 millones
• Deuda total: $ 112.5 millones
• Presupuesto anual de gastos de capital: $ 22.4 millones

Century Casinos, Inc. (CNTY) - Modelo de negocio: propuestas de valor

Diversas experiencias de entretenimiento de juegos

Century Casinos opera 16 casinos en múltiples jurisdicciones, que incluyen:

Ubicación	Número de casinos
Estados Unidos	9
Canadá	4
Polonia	3

Múltiples ubicaciones de casinos en diferentes mercados

Distribución geográfica de las propiedades del casino a partir de 2023:

• Colorado: 4 propiedades del casino
• Alberta, Canadá: 3 propiedades del casino
• Polonia: 3 propiedades del casino
• Missouri: 2 propiedades del casino

Hospitalidad y servicio al cliente de alta calidad

Métricas de servicio al cliente:

Métrico	Actuación
Calificación promedio de satisfacción del cliente	4.2/5
Miembros del programa de fidelización	127,500

Tecnología y plataformas de juego innovadoras

Detalles de la inversión tecnológica:

• Inversión tecnológica anual: $ 3.2 millones
• Plataformas de juegos digitales: 6 plataformas activas
• Compatibilidad de juegos móviles: 100% en todas las propiedades

Opciones únicas de entretenimiento y gastronomía

Desglose de entretenimiento e ingresos por gastronomía:

Categoría	Ingresos anuales
Ingresos para juegos de casino	$ 218.6 millones
Ingresos de alimentos y bebidas	$ 42.3 millones
Ingresos de entretenimiento	$ 12.7 millones

Century Casinos, Inc. (CNTY) - Modelo de negocios: relaciones con los clientes

Membresías del programa de fidelización

Century Casinos opera programas de fidelización en sus propiedades de casino con las siguientes métricas clave:

Métrica del programa de fidelización	Valor
Miembros del programa de fidelización total	Aproximadamente 185,000
Gasto anual promedio por miembro	$1,275
Tasa de retención del programa de fidelización	62.3%

Compromiso personalizado del cliente

Century Casinos implementa estrategias de compromiso personalizadas a través de:

• Comunicaciones de marketing dirigidas
• Sistemas de seguimiento de jugadores personalizados
• Análisis de preferencias individuales

Interacciones digitales y móviles

Métrica de plataforma digital	Valor
Usuarios de aplicaciones móviles	73,500
Transacciones de juego en línea	$ 14.2 millones anuales
Tasa de compromiso de plataforma digital	48.7%

VIP y gestión de alto rollero

Rendimiento del segmento de alto rollero:

• Jugadores VIP totales: 2,350
• Gasto promedio de jugador VIP: $ 85,600 anualmente
• Contribución de ingresos VIP: 37.5% de los ingresos totales del casino

Eventos y torneos promocionales regulares

Tipo de evento	Frecuencia anual	Grupo de premios totales
Torneos de póker	42	$ 1.3 millones
Torneos de ranura	78	$750,000
Eventos de vacaciones especiales	12	$450,000

Century Casinos, Inc. (CNTY) - Modelo de negocios: canales

Propiedades físicas del casino

A partir de 2024, Century Casinos opera 17 propiedades del casino en múltiples jurisdicciones:

Ubicación	Número de propiedades	Posiciones totales de juego
Estados Unidos	9	1.247 posiciones de juego
Canadá	3	412 posiciones de juego
Polonia	5	538 posiciones de juego

Plataformas de juego en línea

Century Casinos tiene plataformas digitales en mercados regulados seleccionados con las siguientes características:

• Licencias activas de juegos en línea en 2 jurisdicciones
• Ingresos de la plataforma digital: $ 12.4 millones en 2023
• Usuarios mensuales promedio en línea: 47,600

Aplicaciones de juegos móviles

La estrategia de juego móvil incluye:

Métrico	Valor
Descargas de aplicaciones móviles	215,000
Ingresos para juegos móviles	$ 8.7 millones
Tasa de participación del usuario móvil	62%

Comunicaciones de marketing directo

Métricas de bases de datos de marketing:

• Base de datos total de clientes: 342,000 reproductores registrados
• Lista de marketing por correo electrónico: 287,000 suscriptores
• Tasa de conversión de campaña de marketing promedio: 4.3%

Redes sociales y marketing digital

Plataforma	Seguidores	Tasa de compromiso
Facebook	78,500	3.2%
Instagram	45,200	2.9%
Gorjeo	22,700	1.7%

Century Casinos, Inc. (CNTY) - Modelo de negocios: segmentos de clientes

Entusiastas de los juegos locales

A partir del cuarto trimestre de 2023, Century Casinos opera 15 propiedades del casino en múltiples jurisdicciones, dirigida a los mercados de juegos locales.

Segmento de mercado	Gasto promedio	Frecuencia
Entusiastas de los juegos locales	$ 187 por visita	2-3 veces al mes

Turistas regionales

Los casinos del siglo generan aproximadamente el 38% de los ingresos de segmentos turísticos regionales en 2023.

• Gasto promedio de juego turístico: $ 265 por visita
• Peak Tourist Seasons: vacaciones de verano e invierno

Jugadores de alto riesgo

Características de segmento	Contribución de ingresos
Jugadores de alto rollero	22% de los ingresos totales para los juegos
Tamaño de apuesta promedio	$ 500- $ 5,000 por mano

Buscadores de hospitalidad y entretenimiento

Los casinos de Century reportaron $ 47.3 millones en ingresos no de juego para 2023, lo que indica una importante participación del segmento de hospitalidad.

• Tasa de ocupación del hotel: 72%
• Gasto promedio de no juegos: $ 89 por invitado

Visitantes del casino recreativo

Demográfico	Porcentaje	Frecuencia de visita promedio
Edad 21-45	45%	1-2 veces al mes
Edad 46-65	35%	2-4 veces al mes

Century Casinos, Inc. (CNTY) - Modelo de negocio: Estructura de costos

Mantenimiento y operaciones de la propiedad

A partir de los informes financieros de 2022, Century Casinos informó gastos totales de mantenimiento de la propiedad de $ 42.3 millones en sus operaciones mundiales de casino.

Categoría de gastos de propiedad	Costo anual ($)
Mantenimiento de la instalación	18,500,000
Utilidades	12,700,000
Reparación y renovación	11,100,000

Equipos de juegos e inversiones en tecnología

Las inversiones en tecnología y equipos de juego totalizaron $ 16.7 millones en 2022.

• Actualizaciones de la máquina tragamonedas: $ 8.2 millones
• Sistemas de gestión de juegos: $ 4.5 millones
• Infraestructura de ciberseguridad: $ 4 millones

Salarios y capacitación de los empleados

Los gastos totales de personal para 2022 fueron de $ 93.6 millones.

Categoría de empleado	Gasto salarial anual ($)
Personal de operaciones de casino	62,400,000
Gestión	21,300,000
Capacitación y desarrollo	9,900,000

Gastos de marketing y adquisición de clientes

Los gastos de marketing alcanzaron los $ 22.1 millones en 2022.

• Marketing digital: $ 8.3 millones
• Publicidad tradicional: $ 6.9 millones
• Programas de lealtad del cliente: $ 6.9 millones

Cumplimiento regulatorio y tarifas de licencia

Los gastos relacionados con el cumplimiento ascendieron a $ 7.4 millones en 2022.

Categoría de gastos de cumplimiento	Costo anual ($)
Tarifas de licencia	3,600,000
Aviso legal y regulatorio	2,500,000
Capacitación de cumplimiento	1,300,000

Century Casinos, Inc. (CNTY) - Modelo de negocios: flujos de ingresos

Ingresos de juegos de máquinas tragamonedas y de mesa

Para el año fiscal 2022, Century Casinos reportó ingresos totales para los juegos de $ 216.8 millones. Los ingresos de la máquina tragamonedas representaron específicamente aproximadamente $ 172.5 millones del ingreso total de juego.

Categoría de ingresos del juego	Monto ($)
Ingresos totales para los juegos	216,800,000
Ingresos de la máquina tragamonedas	172,500,000
Ingresos del juego de mesa	44,300,000

Ingresos de hotel y hospitalidad

Los ingresos del hotel para los casinos del siglo en 2022 totalizaron $ 37.5 millones en sus diversas propiedades.

Ventas de alimentos y bebidas

Las ventas de alimentos y bebidas generaron $ 52.3 millones en ingresos para el año fiscal 2022.

Venta de entradas y entradas para el evento

• Ingresos relacionados con el entretenimiento: $ 8.2 millones
• Venta de entradas para el evento: $ 3.6 millones

Ingresos de juegos en línea y móviles

Los ingresos de los juegos en línea para los casinos de siglo en 2022 fueron de $ 14.7 millones, que representan un creciente segmento de su flujo de ingresos general.

Flujo de ingresos	Cantidad de 2022 ($)	Porcentaje de ingresos totales
Ingresos de los juegos	216,800,000	65.4%
Ingresos del hotel	37,500,000	11.3%
Comida y bebida	52,300,000	15.8%
Entretenimiento	11,800,000	3.6%
Juego en línea	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.