Century Casinos, Inc. (CNTY): Business Model Canvas [Jan-2025 Mis à jour]

Plongez dans le monde complexe de Century Casinos, Inc. (CNTY), où l'innovation commerciale stratégique rencontre le domaine électrisant du divertissement de jeu. Cette toile complète du modèle commercial révèle comment CNTY navigue magistralement sur la dynamique du marché complexe, transformant les opérations traditionnelles de casino en un écosystème de divertissement à multiples facettes qui couvre les propriétés physiques, les plateformes numériques et diverses expériences clients. De la technologie de jeu de pointe aux stratégies sophistiquées d'engagement client, Century Casinos démontre une approche remarquable pour créer de la valeur dans le paysage compétitif de l'hospitalité et du divertissement.

Century Casinos, Inc. (CNTY) - Modèle commercial: partenariats clés

Fournisseurs et fabricants d'équipements de jeu

Century Casinos s'associe aux fournisseurs d'équipements de jeu suivants:

Fournisseur	Type d'équipement	Nombre de machines / contrats
IGT (International Game Technology)	Machines à sous	237 machines de jeu
Jeux scientifiques	Plates-formes de jeu	156 machines de jeu

Organes de réglementation du gouvernement local et régional

Les principaux partenariats réglementaires comprennent:

• Division du jeu du Colorado
• NEVADA Gaming Control Board
• Ministère polonais des finances
• Commissions des jeux provinciaux canadiens

Promoteurs immobiliers et propriétaires

Emplacement	Partenaire immobilier	Détails du partenariat
Black Hawk, Colorado	Century Casino Black Hawk	Propriété possédée d'une valeur de 24,3 millions de dollars
Edmonton, Canada	Century Downs Racetrack et Casino	Contrat de location évalué à 3,2 millions de dollars par an

Casino stratégique et partenaires de gestion de l'hôtellerie

Les collaborations de gestion stratégique comprennent:

• Eldorado Resorts (maintenant Césars Entertainment)
• Hard Rock International
• Penn National Gaming

Technologie et fournisseurs de logiciels pour les plateformes de jeu

Fournisseur de technologie	Service	Investissement annuel
Technologies aristocrate	Logiciel de jeu	1,7 million de dollars
Playtech	Plateformes de jeu en ligne	2,3 millions de dollars

Century Casinos, Inc. (CNTY) - Modèle d'entreprise: Activités clés

Opérations et gestion des casino

En 2024, Century Casinos exploite 9 casinos dans plusieurs juridictions, notamment:

Emplacement	Nombre de casinos	Espace de jeu total
États-Unis	5	87 500 pieds carrés
Canada	2	45 200 pieds carrés
Marchés internationaux	2	36 800 pieds carrés

Offres de machines à sous et de table de table

Inventaire de jeu à partir de 2024:

Type de jeu	Total des unités	Pourcentage du sol de jeu total
Machines à sous	1,850	72%
Jeux de table	85	28%

Services d'accueil et de divertissement

• Total des chambres d'hôtel associées aux propriétés du casino: 412
• Taux d'occupation moyenne des hôtels: 68,5%
• Tarif quotidien moyen: 129,50 $

Conformité réglementaire et licence

Détails de la conformité réglementaire:

• Licences de jeu actives: 9
• Juridictions avec surveillance réglementaire: 5
• Budget de conformité: 3,2 millions de dollars par an

Stratégies de marketing et d'acquisition des clients

Canal de marketing	Dépenses annuelles	Coût d'acquisition des clients
Marketing numérique	1,7 million de dollars	85 $ par client
Publicité traditionnelle	1,2 million de dollars	110 $ par client
Programme de fidélité	$850,000	45 $ par fidélisation

Century Casinos, Inc. (CNTY) - Modèle d'entreprise: Ressources clés

Propriétés du casino et installations de jeux

En 2024, Century Casinos exploite les propriétés suivantes:

Emplacement	Nombre de propriétés	Espace de plancher de jeu total
États-Unis	6	45 000 pieds carrés
Canada	2	22 000 pieds carrés
Pologne	3	15 000 pieds carrés

Licences de jeu et approbations réglementaires

Century Casinos tient 12 Licences de jeu actives dans plusieurs juridictions:

• 7 licences au Colorado
• 2 licences en Alberta, Canada
• 3 licences en Pologne

Gestion qualifiée et équipes opérationnelles

Composition de l'équipe de gestion:

• Total des employés: 1 287
• Leadership exécutif: 7 cadres supérieurs
• Expérience de gestion moyenne: 15,3 ans

Infrastructure de technologie de jeu avancée

Catégorie de technologie	Investissement en 2023	Nombre de systèmes
Systèmes de gestion des jeux	3,2 millions de dollars	28
Systèmes de suivi des joueurs	1,5 million de dollars	45
Infrastructure de cybersécurité	2,7 millions de dollars	12 systèmes dédiés

Capital financier pour l'expansion et le développement

Ressources financières au quatrième trimestre 2023:

• Actif total: 247,3 millions de dollars
• Equivalents en espèces et en espèces: 38,6 millions de dollars
• Dette totale: 112,5 millions de dollars
• Budget annuel des dépenses en capital: 22,4 millions de dollars

Century Casinos, Inc. (CNTY) - Modèle d'entreprise: propositions de valeur

Diverses expériences de divertissement de jeu

Century Casinos exploite 16 casinos dans plusieurs juridictions, notamment:

Emplacement	Nombre de casinos
États-Unis	9
Canada	4
Pologne	3

Plusieurs emplacements de casino sur différents marchés

Distribution géographique des propriétés du casino à partir de 2023:

• Colorado: 4 propriétés de casino
• Alberta, Canada: 3 propriétés du casino
• Pologne: 3 propriétés de casino
• Missouri: 2 propriétés de casino

Hospitalité et service client de haute qualité

Métriques du service client:

Métrique	Performance
Évaluation moyenne de satisfaction du client	4.2/5
Membres du programme de fidélité	127,500

Technologie et plateformes de jeu innovantes

Détails de l'investissement technologique:

• Investissement technologique annuel: 3,2 millions de dollars
• Plateformes de jeux numériques: 6 plateformes actives
• Compatibilité des jeux mobiles: 100% entre les propriétés

Options de divertissement et de restauration uniques

Répartition des revenus de divertissement et de restauration:

Catégorie	Revenus annuels
Revenus de jeux de casino	218,6 millions de dollars
Revenus de nourriture et de boissons	42,3 millions de dollars
Revenus de divertissement	12,7 millions de dollars

Century Casinos, Inc. (CNTY) - Modèle d'entreprise: relations avec les clients

Adhésions au programme de fidélité

Century Casinos exploite des programmes de fidélité dans ses propriétés de casino avec les mesures clés suivantes:

Métrique du programme de fidélité	Valeur
Membres du programme de fidélité totale	Environ 185 000
Dépenses annuelles moyennes par membre	$1,275
Taux de rétention du programme de fidélité	62.3%

Engagement client personnalisé

Century Casinos met en œuvre des stratégies d'engagement personnalisées à travers:

• Communications marketing ciblées
• Systèmes de suivi des joueurs personnalisés
• Analyse des préférences individuelles

Interactions de jeux numériques et mobiles

Métrique de la plate-forme numérique	Valeur
Utilisateurs d'applications mobiles	73,500
Transactions de jeu en ligne	14,2 millions de dollars par an
Taux d'engagement de la plate-forme numérique	48.7%

Gestion VIP et à haut rouleau

Performance du segment à haut rouleau:

• Players VIP total: 2 350
• Dépenses moyennes du joueur VIP: 85 600 $ par an
• Contribution des revenus VIP: 37,5% du total des revenus du casino

Événements promotionnels réguliers et tournois

Type d'événement	Fréquence annuelle	Pri sur total
Tournois de poker	42	1,3 million de dollars
Tournois sur les créneaux	78	$750,000
Événements spéciaux de vacances	12	$450,000

Century Casinos, Inc. (CNTY) - Modèle d'entreprise: canaux

Propriétés du casino physique

En 2024, Century Casinos exploite 17 propriétés de casino dans plusieurs juridictions:

Emplacement	Nombre de propriétés	Positions totales de jeu
États-Unis	9	1 247 positions de jeu
Canada	3	412 positions de jeu
Pologne	5	538 positions de jeu

Plateformes de jeu en ligne

Century Casinos a des plateformes numériques sur certains marchés réglementés avec les caractéristiques suivantes:

• Licences de jeu en ligne actives dans 2 juridictions
• Revenus de plate-forme numérique: 12,4 millions de dollars en 2023
• Utilisateurs mensuels moyens en ligne: 47 600

Applications de jeux mobiles

La stratégie de jeu mobile comprend:

Métrique	Valeur
Téléchargements d'applications mobiles	215,000
Revenus de jeux mobiles	8,7 millions de dollars
Taux d'engagement des utilisateurs mobiles	62%

Communications marketing directes

Métriques de la base de données marketing:

• Base de données totale des clients: 342 000 joueurs enregistrés
• Liste de marketing par e-mail: 287 000 abonnés
• Taux de conversion de campagne de marketing moyenne: 4,3%

Médias sociaux et marketing numérique

Plate-forme	Abonnés	Taux d'engagement
Facebook	78,500	3.2%
Instagram	45,200	2.9%
Gazouillement	22,700	1.7%

Century Casinos, Inc. (CNTY) - Modèle d'entreprise: segments de clients

Passionnés de jeu locaux

Depuis le quatrième trimestre 2023, Century Casinos exploite 15 propriétés de casino dans plusieurs juridictions, ciblant les marchés de jeu locaux.

Segment de marché	Dépenses moyennes	Fréquence
Passionnés de jeu locaux	187 $ par visite	2-3 fois par mois

Touristes régionaux

Century Casinos génère environ 38% des revenus des segments touristiques régionaux en 2023.

• Dépenses moyennes de jeu touristique: 265 $ par visite
• Préceau des saisons touristiques: vacances d'été et d'hiver

Joueurs à enjeux élevés

Caractéristiques du segment	Contribution des revenus
Players à haut rouleau	22% du total des revenus de jeu
Taille de pari moyenne	500 $ - 5 000 $ la main

Hospitalités et chercheurs de divertissement

Century Casinos a rapporté 47,3 millions de dollars de revenus de non-adhésion pour 2023, indiquant un engagement important du segment de l'hôtellerie.

• Taux d'occupation de l'hôtel: 72%
• Dépenses moyennes de non-gardes: 89 $ par invité

Visiteurs de casino récréatif

Démographique	Pourcentage	Fréquence de visite moyenne
21 à 45 ans	45%	1-2 fois par mois
46 à 65 ans	35%	2 à 4 fois par mois

Century Casinos, Inc. (CNTY) - Modèle d'entreprise: Structure des coûts

Entretien et opérations des biens

En 2022 rapports financiers, Century Casinos a déclaré des frais de maintenance des biens totaux de 42,3 millions de dollars dans ses opérations mondiales de casino.

Catégorie de dépenses de propriété	Coût annuel ($)
Entretien d'installation	18,500,000
Services publics	12,700,000
Réparation et rénovation	11,100,000

Équipement de jeu et investissements technologiques

Les investissements de technologie et d'équipement de jeu ont totalisé 16,7 millions de dollars en 2022.

• Mises à niveau des machines à sous: 8,2 millions de dollars
• Systèmes de gestion des jeux: 4,5 millions de dollars
• Infrastructure de cybersécurité: 4 millions de dollars

Salaires et formation des employés

Les dépenses totales du personnel pour 2022 étaient de 93,6 millions de dollars.

Catégorie des employés	Dépenses salariales annuelles ($)
Personnel des opérations de casino	62,400,000
Gestion	21,300,000
Formation et développement	9,900,000

Frais de marketing et d'acquisition des clients

Les dépenses de marketing ont atteint 22,1 millions de dollars en 2022.

• Marketing numérique: 8,3 millions de dollars
• Publicité traditionnelle: 6,9 millions de dollars
• Programmes de fidélisation de la clientèle: 6,9 millions de dollars

Frais de conformité réglementaire et de licence

Les dépenses liées à la conformité s'élevaient à 7,4 millions de dollars en 2022.

Catégorie de dépenses de conformité	Coût annuel ($)
Frais de licence	3,600,000
Avis juridique et réglementaire	2,500,000
Formation de la conformité	1,300,000

Century Casinos, Inc. (CNTY) - Modèle d'entreprise: Strots de revenus

Machine à sous et revenus de jeu de table

Pour l'exercice 2022, Century Casinos a déclaré des revenus totaux de jeu de 216,8 millions de dollars. Les revenus des machines à sous ont spécifiquement représenté environ 172,5 millions de dollars du total des revenus de jeu.

Catégorie de revenus de jeu	Montant ($)
Revenus totaux de jeu	216,800,000
Revenus de machines à sous	172,500,000
Revenus de jeu de table	44,300,000

Revenu de l'hôtel et de l'hôtellerie

Les revenus de l'hôtel pour Century Casinos en 2022 ont totalisé 37,5 millions de dollars dans leurs différentes propriétés.

Ventes de nourriture et de boissons

Les ventes de nourriture et de boissons ont généré 52,3 millions de dollars de revenus pour l'exercice 2022.

Ventes de billets de divertissement et d'événements

• Revenus liés au divertissement: 8,2 millions de dollars
• Ventes de billets d'événements: 3,6 millions de dollars

Revenus de jeu en ligne et mobiles

Les revenus de jeu en ligne pour les casinos du siècle en 2022 étaient de 14,7 millions de dollars, représentant un Segment croissant de leur source de revenus globale.

Flux de revenus	2022 Montant ($)	Pourcentage du total des revenus
Revenus de jeu	216,800,000	65.4%
Revenu de l'hôtel	37,500,000	11.3%
Nourriture et boisson	52,300,000	15.8%
Divertissement	11,800,000	3.6%
Jeux en ligne	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.