PR Newswire | Mar 12, 2021 06:00AM EST

03/12 05:00 CST

Century Casinos, Inc. Announces Fourth Quarter and Full Year 2020 Results COLORADO SPRINGS, Colo., March 12, 2021

COLORADO SPRINGS, Colo., March 12, 2021 /PRNewswire/ -- Century Casinos, Inc. (Nasdaq Capital Market(r): CNTY) today announced its financial results for the three months and year ended December 31, 2020.

Fourth Quarter 2020 Highlights*

* Net operating revenue was $84.8 million, an increase of 26% from the three months ended December 31, 2019. * Earnings from operations were $18.7 million, an increase of 227% from the three months ended December 31, 2019. * Net earnings attributable to Century Casinos, Inc. shareholders were $6.7 million, a change of 133% from the three months ended December 31, 2019. * Adjusted EBITDA** was $18.3 million, an increase of 87% from the three months ended December 31, 2019. * Basic earnings per share were $0.23, an increase of 134% from the three months ended December 31, 2019. * Diluted earnings per share were $0.22, an increase of 132% from the three months ended December 31, 2019.

2020 Highlights*

* Net operating revenue was $304.3 million, an increase of 39% from the year ended December 31, 2019. * Loss from operations was ($0.1) million, a change of 98% from the year ended December 31, 2019. * Net loss attributable to Century Casinos, Inc. shareholders was ($48.0) million, a decrease of (151%) from the year ended December 31, 2019. * Adjusted EBITDA** was $48.4 million, an increase of 60% from the year ended December 31, 2019. * Basic and diluted loss per share was ($1.62), a decrease of (149%) from the year ended December 31, 2019. * Book value per share*** at December 31, 2020 was $3.99.

The Company's 2020 results were significantly impacted by the acquisition of Mountaineer Casino, Racetrack & Resort, Century Casino Cape Girardeau and Century Casino Caruthersville (the "Acquired Casinos") in December 2019.

Temporary closures of the Company's facilities throughout 2020 due to the worldwide coronavirus ("COVID-19") pandemic negatively impacted results for the three months and year ended December 31, 2020. The Company estimates that the closures during the first and second quarters of 2020 adversely impacted net operating revenue and Adjusted EBITDA by approximately $91.3 million and $34.3 million, respectively, and that the closures in Canada and Poland in December 2020 adversely impacted fourth quarter net operating revenue and Adjusted EBITDA by approximately $9.2 million and $1.7 million, respectively.

On December 1, 2020, the Company sold the casino operations of Century Casino Calgary ("CAL"). The Company recorded a gain on sale of casino operations of $6.5 million in the fourth quarter of 2020. The Company continues to own the underlying real estate, which it leases to the casino operator, and operates Century Sports, a sports bar, bowling and entertainment facility located on the property. The Company intends to sell the real estate in 2021.

COVID-19 UpdateThe COVID-19 pandemic had an adverse effect on the Company's 2020 results of operations and financial condition, and the Company expects this situation will continue to have an adverse impact on its results in 2021. The duration and impact of the COVID-19 pandemic otherwise remains uncertain. The table below provides a summary of the time periods in which the Company closed its casinos, hotels and other facilities to comply with quarantines issued by governments to contain the spread of COVID-19.

Operating Segment Closure Date Reopen Date

Colorado March 17 June 15 and June 17

Missouri March 17 June 1

West Virginia March 17 June 5

Edmonton March 17 June 13

December 13 Currently Closed

Calgary March 17 June 13

December 13 Currently Closed

Poland March 13 May 18

December 29 February 12, 2021

The Company's casinos have varied their operations based on the governmental health and safety requirements in the jurisdictions in which they are located. These include capacity and gaming floor restrictions and limited hours of operation. Such closures have had and will continue to have a material impact on the Company. The Company cannot predict whether future casino closures will be required.

The Company continues to monitor its liquidity in light of the uncertainty resulting from COVID-19. The Company plans to continue to reduce marketing and operating expenditures where possible. The Company's 2021 planned capital expenditure projects will be evaluated throughout the year and postponed to 2022 if necessary and permitted under its agreements. In March 2020, as a proactive measure to increase its cash position and preserve financial flexibility, the Company borrowed an additional $9.95 million on its revolving credit facility (the "Revolving Facility") under its credit facility ("Macquarie Credit Agreement") with Macquarie Capital ("Macquarie") and $7.4 million on its credit agreement with UniCredit Bank Austria AG ("UniCredit"). The Revolving Facility was repaid in July 2020 except for a $50,000 letter of credit that the Company cash collateralized.

The consolidated results for the three months and year ended December 31, 2020 and 2019 are as follows:

For the three months For the year

Amounts in thousands, except per share data ended December 31, ended December 31,

Consolidated Results: 2020 2019 % 2020 2019 % Change Change

Net Operating Revenue $ 84,801 $ 67,236 26% $ 304,268 $ 218,227 39%

Earnings (Loss) from Operations 18,747 (14,745) 227% (127) (5,220) 98%

Net Earnings (Loss) Attributable to Century $ 6,713 $ (20,140) 133% $ (48,002) $ (19,155) (151%)Casinos, Inc. Shareholders

Adjusted EBITDA** $ 18,306 $ 9,776 87% $ 48,398 $ 30,281 60%

Earnings (Loss) Per Share Attributable to Century Casinos, Inc. Shareholders:

Basic $ 0.23 $ (0.68) 134% $ (1.62) $ (0.65) (149%)

Diluted $ 0.22 $ (0.68) 132% $ (1.62) $ (0.65) (149%)

"We are pleased with the strong Adjusted EBITDA for the fourth quarter even though our casinos in Canada and Poland were closed in December over the busy holiday season. These results were driven primarily by our properties in the US, which generated 82% of our Adjusted EBITDA in the fourth quarter," Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos remarked. "We have been able to achieve operating margins that we believe will continue to be attainable. We look forward to our casinos and racetracks reopening in Canada and to a busy summer season in North America if the pandemic subsides," Messrs. Haitzmann and Hoetzinger concluded.

Reportable Segment Results*The table below shows the Company's operating segments that are included in each of the Company's reportable segments as of December 31, 2020:

Reportable Segment Operating Segment Reporting Unit

United States Colorado Century Casino & Hotel - Central City

Century Casino & Hotel - Cripple Creek

West Virginia Mountaineer Casino, Racetrack & Resort

Missouri Century Casino Cape Girardeau

Century Casino Caruthersville

Canada Edmonton Century Casino & Hotel - Edmonton

Century Casino St. Albert

Century Mile Racetrack and Casino

Calgary Century Downs Racetrack and Casino

Century Sports

Century Bets! Inc.

Poland Poland Casinos Poland

Corporate and Other Corporate and Other Cruise Ships & Other

Corporate Other

The Company's net operating revenue increased by $17.6 million, or 26%, and by $86.0 million, or 39%, for the three months and year ended December 31, 2020, compared to the three months and year ended December 31, 2019. Following is a summary of the changes in net operating revenue by reportable segment for the three months and year ended December 31, 2020, compared to the three months and year ended December 31, 2019:

Net Operating Revenue

For the three For the year months

ended December 31, ended December 31,

Amounts in 2020 2019 $ Change % 2020 2019 $ Change %thousands Change Change

United States $ 58,440 $ 23,926 $ 34,514 144% $ 198,344 $ 49,998 $ 148,346 297%

Canada 12,757 20,291 (7,534) (37%) 50,240 80,650 (30,410) (38%)

Poland 13,477 21,675 (8,198) (38%) 54,271 81,894 (27,623) (34%)

Corporate and 127 1,344 (1,217) (91%) 1,413 5,685 (4,272) (75%)Other

Consolidated $ 84,801 $ 67,236 $ 17,565 26% $ 304,268 $ 218,227 $ 86,041 39%

The Company's earnings (loss) from operations increased by $33.5 million, or 227%, and by $5.1 million, or 98%, for the three months and year ended December 31, 2020, compared to the three months and year ended December 31, 2019. Following is a summary of the changes in earnings (loss) from operations by reportable segment for the three months and year ended December 31, 2020, compared to the three months and year ended December 31, 2019:

Earnings (Loss) from Operations

For the three months For the year

ended December 31, ended December 31,

Amounts in 2020 2019 $ Change % 2020 2019 $ Change %thousands Change Change

United States $ 12,507 $ 4,685 $ 7,822 167% $ (1,191) $ 9,478 $ (10,669) (113%)

Canada 9,195 4,000 5,195 130% 9,350 16,115 (6,765) (42%)

Poland (1,077) 1,627 (2,704) (166%) (2,783) 5,915 (8,698) (147%)

Corporate and (1,878) (25,057) 23,179 93% (5,503) (36,728) 31,225 85%Other

Consolidated $ 18,747 $ (14,745) $ 33,492 227% $ (127) $ (5,220) $ 5,093 98%

Net earnings (loss) attributable to Century Casinos, Inc. shareholders increased by $26.9 million, or 133%, and decreased by ($28.8) million, or (151%), for the three months and year ended December 31, 2020, compared to the three months and year ended December 31, 2019. Following is a summary of the changes in net earnings (loss) attributable to Century Casinos, Inc. shareholders by reportable segment for the three months and year ended December 31, 2020, compared to the three months and year ended December 31, 2019:

Net Earnings (Loss) Attributable to Century Casinos, Inc. Shareholders

For the three months For the year

ended December 31, ended December 31,

Amounts in 2020 2019 $ Change % 2020 2019 $ Change %thousands Change Change

United States $ 5,437 $ 2,261 $ 3,176 141% $ (30,571) $ 5,825 $ (36,396) (625%)

Canada 6,652 948 5,704 602% 2,551 6,669 (4,118) (62%)

Poland (244) 1,352 (1,596) (118%) (1,373) 3,466 (4,839) (140%)

Corporate and (5,132) (24,701) 19,569 79% (18,609) (35,115) 16,506 47%Other

Consolidated $ 6,713 $ (20,140) $ 26,853 133% $ (48,002) $ (19,155) $ (28,847) (151%)

Items deducted from or added to earnings from operations to arrive at net earnings (loss) attributable to Century Casinos, Inc. shareholders include interest income, interest expense, gains (losses) on foreign currency transactions and other, income tax expense and non-controlling interests.

The Company's Adjusted EBITDA** increased by $8.5 million, or 87%, and by $18.1 million, or 60%, for the three months and year ended December 31, 2020 compared to the three months and year ended December 31, 2019. Following is a summary of the changes in Adjusted EBITDA** by reportable segment for the three months and year ended December 31, 2020 compared to the three months and year ended December 31, 2019:

Adjusted EBITDA**

For the three months For the year

ended December 31, ended December 31,

Amounts in 2020 2019 $ Change % 2020 2019 $ Change %thousands Change Change

United States $ 17,133 $ 5,441 $ 11,692 215% $ 47,199 $ 11,825 $ 35,374 299%

Canada 3,981 5,378 (1,397) (26%) 11,497 21,212 (9,715) (46%)

Poland (234) 2,484 (2,718) (109%) 344 9,392 (9,048) (96%)

Corporate and (2,574) (3,527) 953 27% (10,642) (12,148) 1,506 12%Other

Consolidated $ 18,306 $ 9,776 $ 8,530 87% $ 48,398 $ 30,281 $ 18,117 60%

BALANCE SHEET AND LIQUIDITYAs of December 31, 2020, the Company had $63.4 million in cash and cash equivalents and $184.6 million in outstanding debt on its balance sheet compared to $54.8 million in cash and cash equivalents and $179.0 million in outstanding debt at December 31, 2019. The outstanding debt as of December 31, 2020 included the following: $168.3 million related to the Macquarie Credit Agreement; $1.3 million of bank debt related to Casinos Poland; $8.9 million of bank debt related to Century Resorts Management GmbH ("CRM"); and $15.3 million related to a long-term land lease for Century Downs Racetrack and Casino ("CDR"), net of $9.3 million in deferred financing costs.

CONFERENCE CALL INFORMATIONToday the Company will post a copy of its Annual Report on Form 10-K filed with the SEC for the year ended December 31, 2020 on its website at www.cnty.com/investor/financials/sec-filings. The Company will also post a presentation on the year end results on its website at www.cnty.com/investor/presentations.

The Company will host its fourth quarter 2020 earnings conference call today, Friday, March 12, 2021, at 8:00 am MST. U.S. domestic participants should dial 1-844-244-9160. For all international participants, please use 330-931-4670 to dial-in. Participants may listen to the call live at www.centurycasinos.adobeconnect.com/earningsrelease or obtain a recording of the call on the Company's website until March 31, 2021 at www.cnty.com/investor/financials/sec-filings.

* Amounts presented are rounded. As such, rounding differences could occur in period over period changes and percentages reported.

Adjusted EBITDA and Adjusted EBITDA margin are Non-US GAAP financial** measures. See discussion and reconciliation of Non-US GAAP financial measures in Supplemental Information below.

*** The Company defines book value per share as total Century Casinos, Inc. shareholders' equity divided by outstanding common shares.

CENTURY CASINOS, INC. AND SUBSIDIARIESFINANCIAL INFORMATION - US GAAP BASIS

Condensed Consolidated Statements of (Loss) Earnings

For the three months For the year

ended December 31, ended December 31,

Amounts in thousands, except 2020 2019 2020 2019for per share information

Operating revenue:

Net operating revenue $ 84,801 $ 67,236 $ 304,268 $ 218,227

Operating costs and expenses:

Total operating costs and 66,054 81,981 304,395 223,446expenses

Loss from equity investment - - - (1)

Earnings (loss) from operations 18,747 (14,745) (127) (5,220)

Non-operating income (expense), (10,666) (3,569) (43,161) (6,747)net

Earnings (loss) before income 8,081 (18,314) (43,288) (11,967)taxes

Income tax provision (1,314) (955) (4,848) (4,174)

Net earnings (loss) 6,767 (19,269) (48,136) (16,141)

Net (earnings) lossattributable to non-controlling (54) (871) 134 (3,014)interests

Net earnings (loss)attributable to Century $ 6,713 $ (20,140) $ (48,002) $ (19,155)Casinos, Inc. shareholders

Earnings (loss) per share attributable to Century Casinos, Inc. shareholders:

Basic $ 0.23 $ (0.68) $ (1.62) $ (0.65)

Diluted $ 0.22 $ (0.68) $ (1.62) $ (0.65)

Weighted average common shares

Basic 29,576 29,474 29,559 29,452

Diluted 29,990 29,474 29,559 29,452

Condensed Consolidated Balance Sheets

December 31, December 31,

Amounts in thousands 2020 2019

Assets

Current assets $ 94,622 $ 79,366

Property and equipment, net 485,248 503,933

Other assets 100,890 143,601

Total assets $ 680,760 $ 726,900

Liabilities and Equity

Current liabilities $ 60,163 $ 56,570

Non-current liabilities 493,614 498,255

Century Casinos, Inc. shareholders' equity 118,154 163,306

Non-controlling interests 8,829 8,769

Total liabilities and equity $ 680,760 $ 726,900

CENTURY CASINOS, INC. AND SUBSIDIARIESSUPPLEMENTAL INFORMATION

Adjusted EBITDA Margins** (unaudited)

For the three months For the year

ended December 31, ended December 31,

2020 2019 2020 2019

United States 29% 23% 24% 24%

Canada 31% 27% 23% 26%

Poland (2%) 11% 1% 11%

Corporate and Other (2027%) (262%) (753%) (214%)

Consolidated Adjusted EBITDA Margin 22% 15% 16% 14%

Reconciliation of Adjusted EBITDA* to Net Earnings (Loss) Attributable toCentury Casinos, Inc. Shareholders by Reportable Segment.

For the three months ended December 31, 2020

Amounts in thousands United Canada Poland Corporate Total States and Other

Net earnings (loss)attributable to Century $ 5,437 $ 6,652 $ (244) $ (5,132) $ 6,713Casinos, Inc.shareholders

Interest expense 7,070 543 5 2,949 10,567(income), net ^(1)

Income taxes (benefit) - 1,483 (394) 225 1,314

Depreciation and 4,571 1,291 845 105 6,812amortization

Net earnings (loss)attributable to - 175 (121) - 54non-controllinginterests

Non-cash stock-based - - - (804) (804)compensation

(Gain) loss on foreigncurrency transactions, - (6,176) (326) 83 (6,419)cost recovery income andother ^(2)

Loss on disposition of 55 13 1 - 69fixed assets

Adjusted EBITDA $ 17,133 $ 3,981 $ (234) $ (2,574) $ 18,306

Expense of $7.1 million related to a master lease with subsidiaries of VICI Properties Inc. ("Master Lease") is included in interest expense (income),(1) net in the United States segment. Expense of $0.5 million related to the CDR land lease is included in interest expense (income), net in the Canada segment. Cash payments related to the Master Lease and CDR land lease were $8.4 million and $0.6 million, respectively, for the period presented.

(2) Income of $6.5 million is included in the Canada segment related to the sale of the casino operations at CAL.

CENTURY CASINOS, INC. AND SUBSIDIARIESSUPPLEMENTAL INFORMATION

Reconciliation of Adjusted EBITDA* to Net Earnings (Loss) Attributable toCentury Casinos, Inc. Shareholders by Reportable Segment.

For the three months ended December 31, 2019

Amounts in thousands United Canada Poland Corporate Total States and Other

Net earnings (loss)attributable to Century $ 2,261 $ 948 $ 1,352 $ (24,701) $ (20,140)Casinos, Inc.shareholders

Interest expense 1,635 1,456 55 1,020 4,166(income), net ^(1)

Income taxes (benefit) 789 1,375 222 (1,431) 955

Depreciation and 756 1,356 781 254 3,147amortization

Net earningsattributable to - 195 676 - 871non-controllinginterests

Non-cash stock-based - - - 324 324compensation

Loss (gain) on foreigncurrency transactions - 26 (678) 218 (434)and cost recovery income

Impairment - intangible - - - 16,486 16,486and tangible assets

Loss on disposition of - 22 76 1 99fixed assets

Acquisition costs - - - 4,302 4,302

Adjusted EBITDA $ 5,441 $ 5,378 $ 2,484 $ (3,527) $ 9,776

Expense of $1.6 million related to the Master Lease is included in interest expense (income), net in the United States segment. Expense of $0.5 million(1) related to the CDR land lease is included in interest expense (income), net in the Canada segment. Cash payments related to the Master Lease and CDR land lease were $3.8 million and $0.5 million for the period presented.

CENTURY CASINOS, INC. AND SUBSIDIARIESSUPPLEMENTAL INFORMATION

Reconciliation of Adjusted EBITDA* to Net Earnings (Loss) Attributable toCentury Casinos, Inc. Shareholders by Reportable Segment.

For the year ended December 31, 2020

Amounts in thousands United Canada Poland Corporate Total States and Other

Net (loss) earningsattributable to $ (30,571) $ 2,551 $ (1,373) $ (18,609) $ (48,002)Century Casinos, Inc.shareholders

Interest expense 28,357 2,047 27 12,667 43,098(income), net ^(1)

Income taxes (benefit) 1,023 3,765 (518) 578 4,848

Depreciation and 17,580 5,264 3,124 566 26,534amortization

Net earnings (loss)attributable to - 553 (687) - (134)non-controllinginterests

Non-cash stock-based - - - (214) (214)compensation

Gain on foreigncurrency transactions, - (6,015) (233) (6,897) (13,145)cost recovery incomeand other ^(2)

Impairment -intangible and 30,746 3,375 - 1,000 35,121tangible assets

Loss (gain) ondisposition of fixed 64 (43) 4 1 26assets

Acquisition costs - - - 266 266

Adjusted EBITDA $ 47,199 $ 11,497 $ 344 $ (10,642) $ 48,398

Expense of $28.4 million related to the Master Lease is included in interest expense (income), net in the United States segment. Expense of(1) $1.5 million related to the CDR land lease is included in interest expense (income), net in the Canada segment. Cash payments related to the Master Lease and CDR land lease were $25.0 million and $1.3 million for the period presented.

(2) Income of $6.5 million is included in the Canada segment related to the sale of the casino operations at CAL.

CENTURY CASINOS, INC. AND SUBSIDIARIESSUPPLEMENTAL INFORMATION

Reconciliation of Adjusted EBITDA* to Net Earnings (Loss) Attributable toCentury Casinos, Inc. Shareholders by Reportable Segment.

For the year ended December 31, 2019

Amounts in thousands United Canada Poland Corporate Total States and Other

Net earnings (loss)attributable to Century $ 5,825 $ 6,669 $ 3,466 $ (35,115) $ (19,155)Casinos, Inc.shareholders

Interest expense 1,635 5,312 197 1,085 8,229(income), net ^(1)

Income taxes (benefit) 2,018 3,278 1,617 (2,739) 4,174

Depreciation and 2,330 4,539 3,064 910 10,843amortization

Net earnings (loss)attributable to - 1,295 1,731 (12) 3,014non-controllinginterests

Non-cash stock-based - - - 1,303 1,303compensation

(Gain) loss on foreigncurrency transactions - (439) (1,096) 223 (1,312)and cost recoveryincome

Impairment - intangible - - - 16,486 16,486and tangible assets

Loss on disposition of 17 20 413 345 795fixed assets

Acquisition costs - - - 5,366 5,366

Pre-opening expenses - 538 - - 538

Adjusted EBITDA $ 11,825 $ 21,212 $ 9,392 $ (12,148) $ 30,281

Expense of $1.6 million related to the Master Lease is included in interest expense (income), net in the United States segment. Expense of $2.2 million(1) related to the CDR land lease is included in interest expense (income), net in the Canada segment. Cash payments related to the Master Lease and CDR land lease were $3.8 million and $2.0 million for the period presented.

CENTURY CASINOS, INC. AND SUBSIDIARIESSUPPLEMENTAL INFORMATION

* The Company definesAdjusted EBITDAas net (loss) earnings attributable to Century Casinos, Inc. shareholders before interest expense (income), net, income taxes (benefit), depreciation and amortization, non-controlling interests net earnings (loss) and transactions, pre-opening expenses, acquisition costs, non-cash stock-based compensation charges, asset impairment costs, loss (gain) on disposition of fixed assets, discontinued operations, (gain) loss on foreign currency transactions, cost recovery income and other, gain on business combination and certain other one-time transactions. Expense related to the Master Lease and CDR land lease is included in the interest expense (income), net line item. Intercompany transactions consisting primarily of management and royalty fees and interest, along with their related tax effects, are excluded from the presentation of net earnings (loss) attributable to Century Casinos, Inc. shareholders and Adjusted EBITDA reported for each segment. Not all of the aforementioned items occur in each reporting period, but have been included in the definition based on historical activity. These adjustments have no effect on the consolidated results as reported under US GAAP. Adjusted EBITDA is not considered a measure of performance recognized under US GAAP. Management believes that Adjusted EBITDA is a valuable measure of the relative performance of the Company and its properties. The gaming industry commonly uses Adjusted EBITDA as a method of arriving at the economic value of a casino operation. Management uses Adjusted EBITDA to compare the relative operating performance of separate operating units by eliminating the above-mentioned items associated with the varying levels of capital expenditures for infrastructure required to generate revenue and the often high cost of acquiring existing operations. Adjusted EBITDA is used by the Company's lending institution to gauge operating performance. The Company's computation of Adjusted EBITDA may be different from, and therefore may not be comparable to, similar measures used by other companies within the gaming industry. Please see the reconciliation of Adjusted EBITDA to net earnings (loss) attributable to Century Casinos, Inc. shareholders above.

** The Company defines Adjusted EBITDA margin as Adjusted EBITDA divided by net operating revenue. Adjusted EBITDA margin is a non-GAAP measure. Management uses this margin as one of several measures to evaluate the efficiency of the Company's casino operations.

ABOUT CENTURY CASINOS, INC.:Century Casinos, Inc. is a casino entertainment company. The Company owns and operates Century Casino & Hotels in Cripple Creek and Central City, Colorado, and in Edmonton, Alberta, Canada; the Century Casino in Cape Girardeau and Caruthersville, Missouri, and in St. Albert, Alberta, Canada; Mountaineer Casino, Racetrack & Resort in New Cumberland, West Virginia; the Century Mile Racetrack and Casino ("CMR") in Edmonton, Alberta, Canada; and Century Bets! Inc. ("CBS"). CBS and CMR operate the pari-mutuel off-track horse betting networks in southern and northern Alberta, respectively. The Company also operates Century Sports in Calgary, Alberta, Canada. Through its Austrian subsidiary, CRM, the Company holds a 66.6% ownership interest in Casinos Poland Ltd., the owner and operator of eight casinos throughout Poland; and a 75% ownership interest in CDR in Calgary, Alberta, Canada. The Company operates four ship-based casinos. The Company, through CRM, also owns a 7.5% interest in, and provides consulting services to, MCE, a company that provides gaming-related services to Casino de Mendoza in Mendoza, Argentina. The Company continues to pursue other projects in various stages of development.

Century Casinos' common stock trades on The Nasdaq Capital Market(r) under the symbol CNTY.

For more information about Century Casinos, visit our website at www.cnty.com.

CENTURY CASINOS, INC. AND SUBSIDIARIESSUPPLEMENTAL INFORMATION

This release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and assumptions of the management of Century Casinos based on information currently available to management. Such forward-looking statements include, but are not limited to, statements regarding future results of operations, including the impact of the acquisition of the Acquired Casinos on the Company's results, the impact of the current coronavirus (COVID-19) pandemic, the adequacy of cash flows from operations and available cash to meet our future liquidity needs, particularly if we cannot operate our casinos due to COVID-19 or their operations are restricted, operating margins, operating efficiencies, synergies and operational performance, the integration of the Acquired Casinos into our business, the prospects for and timing and costs of new projects, projects in development and other opportunities, our credit agreement with Macquarie Capital, our obligations under the Master Lease, debt repayment, investments in joint ventures, outcomes of legal proceedings, changes in our tax provisions or exposure to additional income tax liabilities, and plans for our casinos and our Company. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from the forward-looking statements include, among others, the risks described in the section entitled "Risk Factors" under Item 1A in our Annual Report on Form 10-K for the year ended December 31, 2020 and in subsequent periodic and current SEC filings we may make. Century Casinos disclaims any obligation to revise or update any forward-looking statement that may be made from time to time by it or on its behalf.

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SOURCE Century Casinos, Inc.