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Century Casinos, Inc. Announces Fourth Quarter 2018 Results

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7 years ago

on

Century Casinos, Inc. Announces Fourth Quarter 2018 ResultsReading Time: 14 minutes

 

Century Casinos, Inc. today announced its financial results for the three months and year ended December 31, 2018.

Fourth Quarter 2018 Highlights*

  • Net operating revenue was $45.1 million, an increase of 15% from the three months ended December 31, 2017.
  • Earnings from operations were $2.0 million, an increase of 16% from the three months ended December 31, 2017.
  • Net earnings attributable to Century Casinos, Inc. shareholders were $0.5 million, an increase of 110% from the three months ended December 31, 2017.
  • Adjusted EBITDA** was $5.8 million, an increase of 7% from the three months ended December 31, 2017.
  • Basic and diluted earnings per share were $0.02, an increase of 110% from the three months ended December 31, 2017.

2018 Highlights*

  • Net operating revenue was $168.9 million, an increase of 10% from the year ended December 31, 2017.
  • Earnings from operations were $9.5 million, a decrease of 35% from the year ended December 31, 2017.
  • Net earnings attributable to Century Casinos, Inc. shareholders were $3.4 million, a decrease of 46% from the year ended December 31, 2017.
  • Adjusted EBITDA** was $23.4 million, a decrease of 10% from the year ended December 31, 2017.
  • Basic earnings per share were $0.12, a decrease of 52% from the year ended December 31, 2017.
  • Diluted earnings per share were $0.11, a decrease of 54% from the year ended December 31, 2017.
  • Book value per share*** at December 31, 2018 was $6.00.

The consolidated results for the three months and year ended December 31, 2018 and 2017 are as follows:









































Amounts in thousands, except per share data

For the three months

ended December 31,

For the year

ended December 31,

Consolidated Results:



2018



2017

% Change





2018



2017

% Change

Net Operating Revenue

$

45,106

$

39,293

15%



$

168,938

$

154,069

10%

Earnings from Operations



1,976



1,706

16%





9,459



14,615

(35%)

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

$

506

$

(5,334)

110%



$

3,394

$

6,259

(46%)




































Adjusted EBITDA**

$

5,801

$

5,408

7%



$

23,377

$

26,086

(10%)




































Earnings (Loss) Per Share:

































Basic

$

0.02

$

(0.20)

110%



$

0.12

$

0.25

(52%)

Diluted

$

0.02

$

(0.19)

111%



$

0.11

$

0.24

(54%)

The Tax Cuts and Jobs Act (the “Tax Act”), enacted on December 22, 2017, increased the Company’s income tax expense by $5.4 million during the fourth quarter of 2017 due to the tax law changes that were effective for the 2017 tax year. The increased income tax expense increased net loss attributable to Century Casinos, Inc. shareholders for the fourth quarter of 2017 and decreased net earnings attributable to Century Casinos, Inc. shareholders for the year ended December 31, 2017. See Note 11 to the Company’s Consolidated Financial Statements included in Part II, Item 8, “Financial Statements and Supplementary Data”, of the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 for a discussion of the impact of the Tax Act.

“This quarter we continued to see revenue growth in each of our segments and ended the year growing revenue by 10%. We are pleased with this growth, especially with the longer-than-expected casino closures in Poland due to licensing delays, which we estimate negatively impacted net operating revenue by $9.8 million,” Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos remarked. “We are excited for the upcoming year with the opening of Century Mile Racetrack and Casino on April 1st and a Grand Opening celebration planned for April 28th, the first day of live horse racing,” 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, 2018:

Reportable Segment

Operating Segment

Canada

Century Casino & Hotel – Edmonton

Canada

Century Casino St. Albert

Canada

Century Casino Calgary

Canada

Century Downs Racetrack and Casino

Canada

Century Bets!

Canada

Century Mile Racetrack and Casino

United States

Century Casino & Hotel – Central City

United States

Century Casino & Hotel – Cripple Creek

Poland

Casinos Poland

Corporate and Other

Cruise Ships & Other

Corporate and Other

Century Casino Bath

Corporate and Other

Corporate Other

The Company’s net operating revenue increased by $5.8 million, or 15%, and by $14.9 million, or 10%, for the three months and year ended December 31, 2018, compared to the three months and year ended December 31, 2017. Following is a summary of the changes in net operating revenue by reportable segment for the three months and year ended December 31, 2018, compared to the three months and year ended December 31, 2017:















































Net Operating Revenue




For the three months













For the year













ended December 31,











ended December 31,









Amounts in thousands

2018

2017

$ Change

% Change

2018

2017

$ Change

% Change

Canada

$

15,678

$

15,247

$

431

3%

$

61,361

$

57,732

$

3,629

6%

United States



7,938



7,671



267

4%



33,483



32,154



1,329

4%

Poland



19,514



15,414



4,100

27%



68,209



59,796



8,413

14%

Corporate and Other



1,976



961



1,015

106%



5,885



4,387



1,498

34%

Consolidated



$

45,106

$

39,293

$

5,813

15%

$

168,938

$

154,069

$

14,869

10%

The Company’s earnings from operations increased by $0.3 million, or 16%, and decreased by ($5.2) million, or (35%), for the three months and year ended December 31, 2018, compared to the three months and year ended December 31, 2017.  Following is a summary of the changes in earnings (loss) from operations by reportable segment for the three months and year ended December 31, 2018, compared to the three months and year ended December 31, 2017:















































Earnings (Loss) from Operations




For the three months













For the year













ended December 31,











ended December 31,









Amounts in thousands

2018

2017

$ Change

% Change

2018

2017

$ Change

% Change

Canada

$

3,675

$

4,012

$

(337)

(8%)

$

14,633

$

14,608

$

25

—

United States



1,033



1,041



(8)

(1%)



5,882



5,599



283

5%

Poland



460



(648)



1,108

171%



145



2,587



(2,442)

(94%)

Corporate and Other



(3,192)



(2,699)



(493)

(18%)



(11,201)



(8,179)



(3,022)

(37%)

Consolidated



$

1,976

$

1,706

$

270

16%

$

9,459

$

14,615

$

(5,156)

(35%)

Net earnings (loss) attributable to Century Casinos, Inc. shareholders increased by $5.8 million, or 110%, and decreased by ($2.9) million, or (46%), for the three months and year ended December 31, 2018, compared to the three months and year ended December 31, 2017. 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, 2018, compared to the three months and year ended December 31, 2017:















































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




For the three months













For the year













ended December 31,











ended December 31,









Amounts in thousands

2018

2017

$ Change

% Change

2018

2017

$ Change

% Change

Canada

$

2,077

$

1,751

$

326

19%

$

7,715

$

7,681

$

34

—

United States



767



646



121

19%



4,373



3,469



904

26%

Poland



179



(704)



883

125%



(153)



1,280



(1,433)

(112%)

Corporate and Other



(2,517)



(7,027)



4,510

64%



(8,541)



(6,171)



(2,370)

(38%)

Consolidated



$

506

$

(5,334)

$

5,840

110%

$

3,394

$

6,259

$

(2,865)

(46%)

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 $0.4 million, or 7%, and decreased by ($2.7) million, or (10%), for the three months and year ended December 31, 2018 compared to the three months and year ended December 31, 2017. Following is a summary of the changes in Adjusted EBITDA** by reportable segment for the three months and year ended December 31, 2018 compared to the three months and year ended December 31, 2017:















































Adjusted EBITDA**




For the three months













For the year













ended December 31,











ended December 31,









Amounts in thousands

2018

2017

$ Change

% Change

2018

2017

$ Change

% Change

Canada

$

4,991

$

4,930

$

61

1%

$

19,522

$

18,171

$

1,351

7%

United States



1,582



1,622



(40)

(3%)



8,061



8,005



56

1%

Poland



1,733



987



746

76%



4,890



6,406



(1,516)

(24%)

Corporate and Other



(2,505)



(2,131)



(374)

(18%)



(9,096)



(6,496)



(2,600)

(40%)

Consolidated



$

5,801

$

5,408

$

393

7%

$

23,377

$

26,086

$

(2,709)

(10%)

*

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-GAAP financial measures. See discussion and reconciliation of Non-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.

Balance Sheet and Liquidity

As of December 31, 2018, the Company had $45.6 million in cash and cash equivalents and $59.5 million in outstanding debt on its balance sheet compared to $74.7 million in cash and cash equivalents and $56.7 million in outstanding debt at December 31, 2017. The outstanding debt as of December 31, 2018 included $40.5 million related to the Company’s credit agreement with the Bank of Montreal, $2.6 million of bank debt related to Casinos Poland, $2.4 million of bank debt related to Century Casino Bath, $0.2 million related to capital leases for Century Resorts Alberta, Century Casino Calgary, Century Casino St. Albert, Century Downs Racetrack and Casino (“CDR”) and Century Mile Racetrack and Casino, and $14.3 million related to a long-term land lease for CDR, net of $0.5 million in deferred financing costs.

Conference Call Information

Today the Company will post a copy of its Annual Report on Form 10-K filed with the SEC for the year ended December 31, 2018 on its website at https://www.cnty.com/corporate/investor-relations/sec-filings. The Company will also post a presentation on the year end results on its website at https://www.cnty.com/corporate/investor-relations/presentations-and-interviews.

The Company will host its fourth quarter 2018 earnings conference call today, Monday, March 11th, at 8:00 am MDT; 3:00 pm CET, respectively. 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 https://centurycasinos.adobeconnect.com/earningsrelease or obtain a recording of the call on the Company’s website until March 31, 2019 at https://www.cnty.com/corporate/investor-relations/sec-filings.

CENTURY CASINOS, INC. AND SUBSIDIARIES

FINANCIAL INFORMATION – US GAAP BASIS

Condensed Consolidated Statements of Earnings (Loss)




























For the three months

For the year


ended December 31,

ended December 31,

Amounts in thousands, except for per share information

2018

2017

2018

2017

Operating revenue:























Net operating revenue

$

45,106

$

39,293

$

168,938

$

154,069

Operating costs and expenses:























Total operating costs and expenses



43,152



37,587



159,502



139,454

Earnings from equity investment



22



—



23



—

Earnings from operations



1,976



1,706



9,459



14,615

Non-operating income (expense), net



(1,053)



(122)



(3,536)



(2,164)

Earnings before income taxes





923



1,584



5,923



12,451

Income tax provision



(133)



(6,614)



(1,917)



(4,560)

Net earnings (loss)



790



(5,030)



4,006



7,891

Net earnings attributable to non-controlling interests



(284)



(304)



(612)



(1,632)

Net earnings (loss) attributable to Century Casinos, Inc. shareholders

$

506

$

(5,334)

$

3,394

$

6,259


























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























  Basic



$

0.02

$

(0.20)

$

0.12

$

0.25

  Diluted



$

0.02

$

(0.19)

$

0.11

$

0.24


























Weighted average common shares























  Basic





29,439



26,863



29,401



25,068

  Diluted





29,861



27,479



29,962



25,559

CENTURY CASINOS, INC. AND SUBSIDIARIES

FINANCIAL INFORMATION – US GAAP BASIS

Condensed Consolidated Balance Sheets













(Amounts in thousands)















December 31,



December 31,





2018

2017

Assets











Current assets

$

54,974

$

84,321

Property and equipment, net



187,017



152,778

Other assets



36,834



37,777

Total assets

$

278,825

$

274,876














Liabilities and Equity











Current liabilities

$

50,020

$

34,438

Non-current liabilities



45,422



53,120

Century Casinos, Inc. shareholders’ equity



176,321



179,897

Non-controlling interests



7,062



7,421

Total liabilities and equity

$

278,825

$

274,876

CENTURY CASINOS, INC. AND SUBSIDIARIES

SUPPLEMENTAL INFORMATION

Constant Currency* Results (unaudited)






































For the three months







For the year







ended December 31,





ended December 31,



Amounts in thousands



2018



2017

% Change



2018



2017

% Change

Net operating revenue as reported (GAAP)

$

45,106

$

39,293

15%

$

168,938

$

154,069

10%

Foreign currency impact vs. 2017



1,600













(2,985)









Net operating revenue constant currency (non-GAAP)*

$

46,706

$

39,293

19%

$

165,953

$

154,069

8%


































Earnings from operations (GAAP)

$

1,976

$

1,706

16%

$

9,459

$

14,615

(35%)

Foreign currency impact vs. 2017



151













27









Earnings from operations constant currency (non-GAAP)*

$

2,127

$

1,706

25%

$

9,486

$

14,615

(35%)


































Net earnings (loss) attributable to Century Casinos, Inc. shareholders as reported (GAAP)

$

506

$

(5,334)

110%

$

3,394

$

6,259

(46%)

Foreign currency impact vs. 2017



79













90









Net earnings (loss) attributable to Century Casinos, Inc. shareholders constant currency (non-GAAP)*

$

585

$

(5,334)

111%

$

3,484

$

6,259

(44%)

Gains and losses on foreign currency transactions are added back to net earnings in the Company’s Adjusted EBITDA** calculations. As such, there is no foreign currency impact to Adjusted EBITDA** when calculating Constant Currency* results.

Adjusted EBITDA Margins *** (unaudited)












For the three months

For the year


ended December 31,

ended December 31,


2018

2017

2018

2017

Canada

32%

32%

32%

31%

United States

20%

21%

24%

25%

Poland

9%

6%

7%

11%

Corporate and Other

(127%)

(222%)

(155%)

(148%)

Consolidated Adjusted EBITDA Margin

13%

14%

14%

17%

CENTURY CASINOS, INC. AND SUBSIDIARIES

SUPPLEMENTAL INFORMATION

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



































For the three months ended December 31, 2018

Amounts in thousands

Canada

United States

Poland

Corporate and Other

Total

Net earnings (loss) attributable to Century Casinos, Inc. shareholders

$

2,077

$

767

$

179

$

(2,517)

$

506

Interest expense (income), net



1,084



—



50



65



1,199

Income taxes (benefit)



435



266



280



(848)



133

Depreciation and amortization



779



548



1,025



402



2,754

Net earnings attributable to non-controlling interests



174



—



89



21



284

Non-cash stock-based compensation



—



—



—



255



255

(Gain) loss on foreign currency transactions, cost recovery income and other



(95)



—



(138)



94



(139)

Loss on disposition of fixed assets



4



1



27



23



55

Pre-opening expenses



533



—



221



—



754

Adjusted EBITDA

$

4,991

$

1,582

$

1,733

$

(2,505)

$

5,801


































For the three months ended December 31, 2017

Amounts in thousands

Canada

United States

Poland

Corporate and Other

Total

Net earnings (loss) attributable to Century Casinos, Inc. shareholders

$

1,751

$

646

$

(704)

$

(7,027)

$

(5,334)

Interest expense (income), net



942



—



34



(4)



972

Income taxes





1,308



395



510



4,401



6,614

Depreciation and amortization



898



581



1,045



91



2,615

Net earnings (loss) attributable to non-controlling interests



655



—



(351)



—



304

Non-cash stock-based compensation



—



—



—



250



250

Gain on foreign currency transactions and cost recovery income



(644)



—



(137)



(26)



(807)

Loss on disposition of fixed assets



4



—



278



—



282

Acquisition costs



—



—



—



6



6

Pre-opening expenses



16



—



312



178



506

Adjusted EBITDA

$

4,930

$

1,622

$

987

$

(2,131)

$

5,408


































For the Year ended December 31, 2018

Amounts in thousands

Canada

United States

Poland

Corporate and Other

Total

Net earnings (loss) attributable to Century Casinos, Inc. shareholders

$

7,715

$

4,373

$

(153)

$

(8,541)

$

3,394

Interest expense (income), net



3,895



1



206



12



4,114

Income taxes (benefit)



2,536



1,508



595



(2,722)



1,917

Depreciation and amortization



3,211



2,178



3,065



945



9,399

Net earnings (loss) attributable to non-controlling interests



722



—



(75)



(35)



612

Non-cash stock-based compensation



—



—



—



868



868

(Gain) loss on foreign currency transactions and cost recovery income



(235)



—



(428)



2



(661)

Loss on disposition of fixed assets



10



1



1,054



25



1,090

Pre-opening expenses



1,668



—



626



350



2,644

Adjusted EBITDA

$

19,522

$

8,061

$

4,890

$

(9,096)

$

23,377


































For the Year ended December 31, 2017

Amounts in thousands

Canada

United States

Poland

Corporate and Other

Total

Net earnings (loss) attributable to Century Casinos, Inc. shareholders

$

7,681

$

3,469

$

1,280

$

(6,171)

$

6,259

Interest expense (income), net



3,487



2



105



(25)



3,569

Income taxes (benefit)



3,008



2,128



1,388



(1,964)



4,560

Depreciation and amortization



3,427



2,405



2,747



366



8,945

Net earnings attributable to non-controlling interests



996



—



636



—



1,632

Non-cash stock-based compensation



—



—



—



669



669

(Gain) loss on foreign currency transactions and cost recovery income



(564)



—



(822)



24



(1,362)

Loss on disposition of fixed assets



83



1



535



3



622

Acquisition costs



28



—



—



327



355

Pre-opening expenses



25



—



537



275



837

Adjusted EBITDA

$

18,171

$

8,005

$

6,406

$

(6,496)

$

26,086

CENTURY CASINOS, INC. AND SUBSIDIARIES

SUPPLEMENTAL INFORMATION

*  The impact of foreign exchange rates is highly variable and difficult to predict.  The Company uses a Constant Currency basis to show the impact from foreign exchange rates on current period financial information compared to prior period financial information using the prior period’s foreign exchange rates. In order to properly understand the underlying business trends and performance of the Company’s ongoing operations, management believes that investors may find it useful to consider the impact of excluding changes in foreign exchange rates from the Company’s net operating revenue, earnings from operations and net earnings (loss) attributable to Century Casinos, Inc. shareholders. Constant currency results are calculated by dividing the current quarter or year to date local currency segment results, excluding the local currency impact of foreign currency gains and losses, by the prior year’s average exchange rate for the quarter or year to date and comparing them to actual U.S. dollar results for the prior quarter or year to date. The average exchange rates for the current and prior year are reported in Note 2 to the Consolidated Financial Statements included in Part II, Item 8, “Financial Statements and Supplementary Data” of the Company’s Annual Report on Form 10-K. The average exchange rates for the three months ended December 31, 2018 and 2017 are presented below.

















For the three months











ended December 31,







Average Rates

2018

2017

% Change

Canadian dollar (CAD)

1.3218

1.2708

(4.0%)

Euros (EUR)

0.8763

0.8491

(3.2%)

Polish zloty (PLN)

3.7668

3.5922

(4.9%)

British pound (GBP)

0.7773

0.7534

(3.2%)

Source: Pacific Exchange Rate Service





























Constant currency information is not a measure of financial performance under generally accepted accounting principles in the United States of America (GAAP) and should not be considered a substitute for net operating revenue, earnings from operations or net earnings (loss) attributable to Century Casinos, Inc. shareholders as determined in accordance with GAAP.

**  The Company defines Adjusted EBITDA as net earnings (loss) 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, (gain) loss 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 items, such as acquisition and disposition costs and gain or loss. 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) 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 GAAP. Adjusted EBITDA is not considered a measure of performance recognized under 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.

CENTURY CASINOS, INC. AND SUBSIDIARIES

SUPPLEMENTAL INFORMATION

About Century Casinos, Inc.:

Century Casinos, Inc. is an international casino entertainment company that operates worldwide. The Company owns and operates Century Casino & Hotels in Cripple Creek and Central City, Colorado, and in Edmonton, Alberta, Canada and the Century Casino in Calgary and St. Albert, Alberta, Canada and in Bath, England. Through its Austrian subsidiary, Century Resorts Management GmbH (“CRM”), formerly Century Casinos Europe GmbH, the Company holds a 66.6% ownership interest in Casinos Poland Ltd., the owner of eight casino licenses throughout Poland, seven of which are operating. The Company, through CRM, also holds a 75% ownership interests in CDR, which operates in the north metropolitan area of Calgary, Alberta, Canada; a 75% ownership interest in Century Bets! Inc., which operates the pari-mutuel off-track horse betting network in southern Alberta, Canada; and a 51% ownership interest in Golden Hospitality Ltd., a company that manages a hotel and entertainment and gaming club in Vietnam. The Company operates 10 ship-based casinos under agreements with three cruise ship owners. The Company, through CRM, also owns a 7.5% interest in, and provides consulting services to, Mendoza Central Entretenimientos S.A., a company that provides gaming-related services to Casino de Mendoza in Mendoza, Argentina. The Company is also developing Century Mile Racetrack and Casino in Edmonton, Alberta, Canada. The Company continues to pursue other international projects in various stages of development.

Century Casinos’ common stock trades on The Nasdaq Capital Market® under the symbol CNTY.

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

CENTURY CASINOS, INC. AND SUBSIDIARIES

SUPPLEMENTAL 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, operating efficiencies, synergies and operational performance, the prospects for and timing and costs of new projects, projects in development and other opportunities, including the Century Mile, Bermuda and Vietnam projects, 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, 2018 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.

SOURCE Century Casinos, Inc.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Century Casinos, Inc. Announces Fourth Quarter 2018 Results

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George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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N1 Partners launches a promo for N1 Bet: earn extra payouts for your FTDs!

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2 days ago

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October 17, 2025

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N1 Partners has just launched a new campaign for its flagship brand – N1 Bet. Until the end of November partners can boost their payouts by up to +7% when driving traffic to two key Tier-1 GEOs: Australia and Germany.

Promo period: October 16 – November 30
Promo GEOs: Australia (AU), Germany (DE)
Traffic sources: FB, In-App, UAC, Email, SMS, SEO, PPC, ASO, and more.

* How it works: the more FTDs your players bring, the higher your bonus to your CPA.

  • 500–899 FTDs → +5% payout on CPA
  • 900+ FTDs → +7% payout on CPA

* Results for Australia and Germany are combined, as well as all accounts of one participating team within the affiliate network.

Why is it worth focusing on Australia and Germany with N1 Partners?

  • 🇩🇪 Germany (DE) brings steady, high-quality traffic with strong evening activity and players who prefer dynamic slot mechanics.
  • 🇦🇺 Australia (AU) delivers solid conversion on slot-focused content and a loyal base of engaged users.

Joining this promo also boosts your progress in the N1 Puzzle Promo, the massive campaign featuring luxury prizes and the ultimate reward: a Robinson R22 Beta II helicopter. The more traffic you send to N1 Bet, the closer you are to the leaderboard’s top!

N1 Bet is a part of a top iGaming affiliate program and one of N1 Partners strongest and most consistent brands, that offers solid conversion, flexible promos, and smart analytics to help affiliates earn more. With an updated design and an optimized retention funnel, the brand performs equally well across online affiliate programs (slots & live) and sports betting segments.

Work with a brand that delivers – and get the most out of every lead!

For questions or personal assistance, reach out to your Affiliate Manager or our LeadGen Manager Christina via the contacts below:
[email protected]
LinkedIn
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Be number one with N1!

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SOFTSWISS Deepens Safer Play as Platinum Partner of Responsible Gambling Summit 2025

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2 days ago

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October 17, 2025

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SOFTSWISS, an international technology provider with over 15 years in the iGaming sector, has partnered with South African entities for the Responsible Gambling Summit 2025, reinforcing its commitment to safe, sustainable play in one of its key growth regions. The two-day summit, organised by the South African Responsible Gambling Foundation, brings together regulators, operators, and experts to advance harm minimisation and industry collaboration.

The Responsible Gambling Summit 2025 will take place from 13 to 14 November in Johannesburg, South Africa, and will include an awards gala dinner recognising initiatives in safer gambling. The programme spans policy, compliance, innovation, and public education, with sessions on illegal market impacts, regulatory development, and technology’s role in prevention and intervention. A SOFTSWISS representative will join the panel discussion ‘Innovation, Technology, and Responsible Gambling’, which explores emerging risks and mitigation strategies in digital environments.

“Industry partnership is essential to keep responsible gambling and player protection visible, effective, and evidence-based across channels. We greatly value the commitment and partnership of prominent international companies, such as SOFTSWISS, whose support brings expertise and resources to these important initiatives in South Africa,” said Sibongile Simelane-Quntana, Executive Director at the South African Responsible Gambling Foundation.

“South Africa is a priority market for SOFTSWISS, and we are proud to support this summit’s mission to advance safer play through collaboration and technology,” said Miranda Guliashvili, Head of Regional Growth at SOFTSWISS. “We continuously apply responsible gambling best practices in our products to help operators build sustainable, compliant growth.”

Building on this commitment, the SOFTSWISS Anti-Fraud team has delivered measurable results: from January to August 2025, it prevented over 15 million euro in fraudulent transactions, resolved more than 56,000 tasks, and processed 70 player complaints submitted to gaming regulators and forums. As fraud tactics evolve – including attempts to use AI-generated deepfakes during verification – SOFTSWISS is strengthening its tools and processes to help operators maintain a secure, transparent environment.

 

About SOFTSWISS

SOFTSWISS is an international technology company with over 15 years of experience in developing innovative solutions for the iGaming industry. SOFTSWISS provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Casino Platform, the Game Aggregator with over 35,000 casino games, Affilka Affiliate Platform, the Sportsbook Software and the Jackpot Aggregator. The expert team, based in Malta, Poland, and Georgia, counts over 2,000 employees.

The post SOFTSWISS Deepens Safer Play as Platinum Partner of Responsible Gambling Summit 2025 appeared first on European Gaming Industry News.

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Week 42/2025 slot games releases

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2 days ago

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October 17, 2025

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Reading Time: 4 minutes

Here are this weeks latest slots releases compiled by European Gaming

PG Soft, a world-class digital mobile games company, has released its powerful new title, Kraken Gold Rush. PG Soft’s game invites players to embark on the perilous high seas and navigate past The Kraken’s monstrous tentacles, desperate to drag ships into the abyss. Sticky Wilds and multipliers reaching x100 help players hunt down a legendary haul of 10 million gold coins.

Evoplay has launched Velvet Gems, a glamorous slot filled with sparkling stones, seamless gameplay, and high reward potential. The game immerses players in a luxurious realm of shimmering rubies, emeralds, and sapphires, where each spin radiates opulence. Striking visuals and a refined soundtrack create a premium atmosphere, making it a perfect choice for players seeking an elegant, feature-rich experience.

The authorities thought they’d finally locked away The Syndicate, the most notorious crew of fugitives in history. But in Nolimit City’s latest release, Breakout, not even a maximum security prison can hold them. This jailbreak-themed slot adds to the list of this year’s releases; Dead Men Walking, Tsar Wars and Kill Em All.

Think you are brave enough to return to the Castle of Terror? This lab experiment-horror sequel from Big Time Gaming is a bone-chilling adventure packed with electrifying features designed to give you the fright of your life. This is a slot where players find themselves in a spooky lab where they must brace themselves for Bonus Respins that are triggered by landing Scatters.

BGaming brings the party to the reels with the release of its latest slot, Fiesta Clusters. This vibrant, highly volatile slice of action combines the celebratory spirit of Cinco de Mayo with the expressive artistry of Día de los Muertos, delivering vibrant thrills for players and a seasonal spike potential for operators around Halloween.

Push Gaming is set to deliver twice the thrills this Halloween with the release of two new seasonal titles, Tarot Treasures and Tricky Treats. Both games highlight the recent launch of Push Gaming’s new product segmentation. Push Action delivers titles with enhanced layers of mechanics and player interaction, a category which Tarot Treasures proudly joins.

Spinomenal has launched Buffalo Rampage – Hold & Hit 3×3, a 3×3 reel, 5 lines video slot. Buffalo Rampage – Hold & Hit 3×3 unfolds across a sun-scorched desert at dusk, framed by towering cacti and brought to life with a slow-paced and Western-inspired soundtrack that immerses players in the action.

TaDa Gaming, has added some dark magic to its TriLuck slots series with its five reels, three rows and 50 fixed paylines new game, 3 Witch’s Lamp. Green, Purple and Blue Potion Pot Scatters can trigger the bonus game’s free spins, five fixed jackpots, ignite coins for wins and increase the bonus prizes.

Blueprint Gaming has introduced a new four pots mechanic and enlarged 5×3 grid to its latest release, Cash Strike Power Force 5, marking an innovative double debut for the internationally recognised series. With various iterations from the Cash Strike family consistently ranking in the supplier’s top 10 revenue-generating markets, the new title builds on the impressive momentum from its predecessors.

Play’n GO invites players underwater in Bubblin’ Riches, a 6×4 slot where golden coins and greedy fish collide for submerged surprises. Set in a playful underwater reef, Bubblin’ Riches brings a burst of colour and charm to the reels. At the heart of the action is a bloated Goldfish with a hoarding habit – every Coin Scatter that lands could feed its fortune, or set off a surprise payout.

Playson turns up the heat in its scorching new release Flaming Bells: Hold and Win, where nostalgic gameplay is reinspired with a 5,000x Grand Jackpot, Extra Bonus Game and valuable Multipliers. Collect symbols gather all visible cash values from the reels, including other Collect icons and the three in-game Jackpot symbol values.

ELA Games beckons players to step into a shadowy realm of sorcery and mystery with its newest release: Witches’ Book. Bathe in the magic as a powerful coven of three witches conjures their spells across the reels, revealing mysterious rewards and surprises. Each spin is a step toward ultimate strength, where massive riches and bubbling magic await.

Amusnet has released its latest online video slot, 27 Wild Shots. This vibrant slot game blends the style of classic fruit games with the charm of a fairytale twist, led by none other than the Little Red Riding Hood herself. The three reels burst with familiar symbols of juicy fruits, reimagined in a lively forest theme.

The post Week 42/2025 slot games releases appeared first on European Gaming Industry News.

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