CENTURY CASINOS INC /CO/ Q1 FY2025 earnings call

• Q1 revenues $130.4M, EBITDAR $20.2M. Managed weather impacts, leap year, lower sports betting income. Monthly results: Jan $3M, Feb $6.5M, Mar $10.5M (up 8% vs last year Mar). • Missouri: Caruthersville first full quarter good, Cape Girardeau visitation up. • Colorado: Sports betting impact, Central City and Cripple Creek results. • East: Rocky Gap and Mountaineer performance. • West: Nugget EBITDAR positive, new rewards program. • Canada and Poland: Updates on operations.

Revenues for Q1 were $130.4 million, EBITDAR was $20.2 million. Missouri: Caruthersville property had carded gaming revenue up 12%, uncarded up 23%, total gaming revenue up 17% ($2.1 million increase vs Q1 last year); Cape Girardeau property saw 5% increase in patrons, 2% increase in trips, EBITDAR margin 36%. Colorado: Lost two-thirds of sports betting income. Central City carded revenue up 7%, uncarded down 36%; Cripple Creek uncarded play declined but upper-end patrons up 24%. East: Rocky Gap revenue declined due to lower slot volume, Mountaineer gaming revenue up 1%, carded up 3%, uncarded down 3%. West: Nugget Casino Resort EBITDAR turned positive $700,000, lower-end customers performed better, locals visits up 6%. Canada: Slot coin-in and table drop flat, revenue down 10% due to lower hold and FX headwinds. Poland: Opened second casino in Wroclaw, still committed to divesting, new interested parties.

• Expect net debt to EBITDA ratios to go below 6 times by year-end. • Plan to spend $4M on growth projects and $14M on maintenance CapEx. • Intend to buy back stock, starting with single-digit million dollar volume between now and early August earnings release.

• Weather impacts. • Lower sports betting income. • FX headwinds. • Economic uncertainty. • Competitive supply.

Q: Inquire about softening in Canadian assets and growth initiatives at Rocky Gap A: Erwin Haitzmann said Canadian lower revenue not due to trade war/energy, Rocky Gap has F&B renovations and beach access.

Q: Ask about year-end leverage targets and Poland sale process A: Erwin Haitzmann said year-end ratios expected to improve, Poland sale likely this year but was wrong before.

Q: Inquire about stock buyback and Poland iGaming rules A: Peter Hoetzinger said start stock buyback with single-digit million volume, Poland iGaming changes not leading to new significant interest.

Q: Ask about cost optimization in East properties (Rocky Gap and Mountaineer) A: Erwin Haitzmann said constantly working on cost optimization in those properties