Century Casinos Reports Financial Results for Second Quarter 2010


    


    
</pre>
<p><span class="xn-location">COLORADO SPRINGS</span>, Colo., <span class="xn-chron">Aug. 9</span> /CNW/ -- Century Casinos, Inc. (Nasdaq and <span class="xn-location">Vienna</span> Stock Exchange: CNTY) announced today its financial results for the three and six months ended <span class="xn-chron">June 30, 2010</span>.</p>
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<p> </p>
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                                     For the Three Months
    Amounts in thousands,
     except share data                  Ended June 30,
                                                            %
    Consolidated Results:             2010        2009   Change
                                      ----        ----   ------
      Net operating revenue        $14,940     $11,884     25.7%
                                       344        (307)   212.1%
      Operating earnings
       (loss) from continuing
       operations
      Loss from continuing
       operations                     (259)     (1,045)    75.2%
      Earnings from
       discontinued
       operations                        -       1,424       NM
      Net (loss) earnings             (259)     19,732   -101.3%
                                      (259)     18,903   -101.4%
       Net (loss) earnings
        attributable to
        Century  Casinos, Inc.
    
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<p> </p>
<p>  Adjusted EBITDA*              <span class="xn-money">$2,003</span>      <span class="xn-money">$1,563</span>     28.2%</p>
<p> </p>
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    Basic and Diluted
     earnings per share:
       Loss from continuing
        operations                  ($0.01)     ($0.05)
      Net (loss) earnings           ($0.01)      $0.80
    
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<p> </p>
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    Weighted-average
     common shares, basic
     and diluted                23,815,936  23,524,067



    
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<p> </p>
<p> </p>
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                                      For the Six Months
    Amounts in thousands,
     except share data                  Ended June 30,
                                                            %
    Consolidated Results:             2010        2009   Change
                                      ----        ----   ------
      Net operating revenue        $29,077     $23,883     21.7%
                                       694        (131)   640.5%
      Operating earnings
       (loss) from continuing
       operations
      Loss from continuing
       operations                     (129)     (2,504)   -94.8%
      Earnings from
       discontinued
       operations                        -       2,712       NM
      Net (loss) earnings             (129)     20,175   -100.6%
                                      (129)     19,248   -100.7%
       Net (loss) earnings
        attributable to
        Century  Casinos, Inc.
    
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<p> </p>
<p>  Adjusted EBITDA*              <span class="xn-money">$4,088</span>      <span class="xn-money">$3,660</span>     11.7%</p>
<p> </p>
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    Basic and Diluted
     earnings per share:
       Loss from continuing
        operations                  ($0.01)     ($0.10)
      Net (loss) earnings           ($0.01)      $0.82
    
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<p> </p>
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    Weighted-average
     common shares, basic
     and diluted                23,815,936  23,524,067


    Three Months Ended June 30, 2010
    
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<p>Net operating revenue for the three months ended <span class="xn-chron">June 30, 2010</span> was <span class="xn-money">$14.9 million</span> compared to <span class="xn-money">$11.9 million</span> for the three months ended <span class="xn-chron">June 30, 2009</span>. The increase in net operating revenue of <span class="xn-money">$3.0 million</span> is attributable to the following: <span class="xn-money">$2.1 million</span> of net operating revenue due to the acquisition of the Silver Dollar in the first quarter of 2010; <span class="xn-money">$0.7 million</span> due to improved business conditions at our <span class="xn-location">Edmonton</span> property resulting from the completion of road construction; an improvement in the average exchange rate between the U.S. dollar and the Canadian dollar; and <span class="xn-money">$0.2 million</span> due to improved business conditions at our Casino at Cripple Creek from better weather conditions and the impact of Amendment 50 which was effective on <span class="xn-chron">July 2, 2009</span>.</p>
<p/>
<p>For the second quarter of 2010, consolidated Adjusted EBITDA* was <span class="xn-money">$2.0 million</span>. This represents a 28.2% increase in consolidated Adjusted EBITDA* over the same quarter of last year.  All operating segments provided positive EBITDA* totaling <span class="xn-money">$3.1 million</span> which was offset by Corporate operations of <span class="xn-money">$1.1 million</span>. Management attributes the improvement in EBITDA* to improved earnings from operations between the second quarter of 2010 and the second quarter of 2009.</p>
<p/>
<p>The increase in operating earnings from continuing operations of <span class="xn-money">$0.6 million</span> from a loss of <span class="xn-money">$0.3 million</span> for the three months ended <span class="xn-chron">June 30, 2009</span> to an income of <span class="xn-money">$0.3 million</span> for the three months ended <span class="xn-chron">June 30, 2010</span> is due to the following: Century Casino & Hotel at <span class="xn-location">Edmonton</span> improved by <span class="xn-money">$0.2 million</span> resulting from an increase in revenue in the nickel slot denomination, an increase in the number of slot units and improved business volume associated with the completion of road construction and the Century Casinos at Cripple Creek and Central City improved by <span class="xn-money">$0.3 million</span> due to better weather conditions in the second quarter of 2010 compared to the second quarter 2009 and the impact of Amendment 50 which began in July of 2009. Corporate earnings from operations improved by <span class="xn-money">$0.1 million</span> primarily due to a reduction in the amount of stock compensation recognized in the second quarter of 2010 compared to the second quarter of 2009.</p>
<p/>
<p>Adjusted for foreign currency transaction gains and losses, the Company recognized a loss from continuing operations of $0.01 million*, for the second quarter of 2010 compared to a loss from continuing operations of <span class="xn-money">$1.3 million</span> for the second quarter of 2009.</p>
<p/>
<p>Including discontinued operations, in the second quarter of 2009, the Company reported net earnings attributable to Century Casinos, Inc. and subsidiaries of <span class="xn-money">$18.9 million</span>, or <span class="xn-money">$0.85</span> per share. During the second quarter of 2009, the Company recorded a gain of <span class="xn-money">$0.03 million</span> on the sale of its Casino in <span class="xn-location">Prague</span>, Czech Republics.</p>
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    Six Months Ended June 30, 2010
    
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<p>Net operating revenue for the six months ended <span class="xn-chron">June 30, 2010</span> was <span class="xn-money">$29.1 million</span> compared to <span class="xn-money">$23.9 million</span> for the six months ended <span class="xn-chron">June 30, 2009</span>. The increase in net operating revenue of <span class="xn-money">$5.2 million</span> is attributable to the following: <span class="xn-money">$3.8 million</span> of net operating revenue due to the acquisition of the Silver Dollar in the first quarter of 2010, <span class="xn-money">$1.2 million</span> due to improved business conditions resulting from the completion of road construction and an improvement in the average exchange rate between the U.S. dollar and the Canadian dollar at our casino in <span class="xn-location">Edmonton</span> and <span class="xn-money">$0.2 million</span> from the impact of three new casinos on the cruise ships Wind Surf, Wind Star and Wind Spirit, all beginning service in April of 2010. These increases in net operating revenue were off-set by a <span class="xn-money">$0.1 million</span> decrease in net operating revenue associated with Womacks Casino at Cripple Creek.</p>
<p/>
<p>For the six months ended <span class="xn-chron">June 30, 2010</span>, consolidated Adjusted EBITDA* was <span class="xn-money">$4.1 million</span>. This represents an 11.7% increase in consolidated Adjusted EBITDA* over the same period of last year.  All operating segments provided positive EBITDA* totaling <span class="xn-money">$6.2 million</span> which was offset by Corporate operations of <span class="xn-money">$2.1 million</span>. Management attributes the improvement in EBITDA* to improved earnings from operations between the six months ended <span class="xn-chron">June 30, 2010</span> and the six months ended <span class="xn-chron">June 30, 2009</span>.</p>
<p/>
<p>The increase in earnings from continuing operations of <span class="xn-money">$0.8 million</span> from a loss of <span class="xn-money">$0.1 million</span> for the six months ended <span class="xn-chron">June 30, 2009</span> to a gain of <span class="xn-money">$0.7 million</span> for the six months ended <span class="xn-chron">June 30, 2010</span> is due to the following: a decrease in corporate expenses associated with the amount of stock compensation recognized of <span class="xn-money">$0.3 million</span> and a reduction in professional fees of <span class="xn-money">$0.2 million</span>. The increase in ship casino revenue of <span class="xn-money">$0.2 million</span> is due to the addition of three new ship casinos which began service in April of 2010. The addition of the Silver Dollar in the first quarter of 2010 contributed <span class="xn-money">$0.1 million</span>.</p>
<p/>
<p>Adjusted for foreign currency transaction gains and losses and the insurance revenue from the Wells Nevada property, the Company recognized a loss from continuing operations of $0.2 million*, for the six months ended <span class="xn-chron">June 30, 2010</span> compared to a loss from continuing operations of <span class="xn-money">$2.3 million</span> for the six months ended <span class="xn-chron">June 30, 2009</span>.</p>
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<p>Including discontinued operations, for the six months ended <span class="xn-chron">June 30, 2009</span>, the Company reported net earnings attributable to Century Casinos, Inc. and subsidiaries of <span class="xn-money">$2.7 million</span>. For the six months ended <span class="xn-chron">June 30, 2009</span>, the Company recorded a gain of <span class="xn-money">$0.9 million</span> on the sale of its sale of its Casino in <span class="xn-location">Prague</span>, Czech Republics.</p>
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    Purchase of Silver Dollar Casino
    
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<p>On <span class="xn-chron">January 13, 2010</span>, the Company acquired the Silver Dollar and related land for total consideration of <span class="xn-money">$11.5 million</span>, which consisted of <span class="xn-money">$10.7 million</span> plus a net working capital of <span class="xn-money">$0.8 million</span>. The Company paid a <span class="xn-money">$1.0 million</span> deposit towards the acquisition on <span class="xn-chron">November 6, 2009</span>, with the remainder paid on <span class="xn-chron">January 13, 2010</span>, using cash on hand.</p>
<p/>
<p>The Silver Dollar is a 93,000 square-foot casino facility located on approximately seven acres of land in <span class="xn-location">Calgary</span>. The casino facility includes 504 slot machines, 25 video lottery terminals, 16 table games, two restaurants, a lounge, a 5,000 square-foot showroom, an 18,000 square-foot convention center and a 30-lane bowling alley. The Silver Dollar Casino will change its name to "Century Casino" to be effective by the end of <span class="xn-chron">October 2010</span>.</p>
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    Property Results (Continuing Operations)
    ----------------------------------------
    
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                     Net Operating             Adjusted
                        Revenue                EBITDA*
                     -------------             --------
                           For the Three Months
                           --------------------
                                              Ended June
                    Ended June 30,                          30,
                     2010     2009          2010      2009
                     ----     ----          ----      ----
    Century
     Casino &
     Hotel,
     Edmonton      $5,497   $4,843        $1,759    $1,554
    Silver
     Dollar
     Casino,
     Calgary        2,099        -           (26)        -
    Womacks
     Casino &
     Hotel,
     Cripple
     Creek          2,617    2,441        490       351
    Century
     Casino &
     Hotel,
     Central
     City           4,209    4,178        947       980
    Cruise Ships      518      422            79        52
    Corporate           -        -        (1,246)   (1,374)
                      ---      ---        ------    ------
    Consolidated
     net
     operating
     revenue      $14,940  $11,884        $2,003    $1,563
                  =======  =======        ======    ======



    
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                     Net Operating               Adjusted
                        Revenue                  EBITDA*
                     -------------              --------
                            For the Six Months
                            ------------------
                                                Ended June
                    Ended June 30,                           30,
                     2010     2009           2010       2009
                     ----     ----           ----       ----
    Century
     Casino &
     Hotel,
     Edmonton     $10,857   $9,639         $3,400     $3,329
    Silver
     Dollar
     Casino,
     Calgary        3,841        -           $153         $0
    Womacks
     Casino &
     Hotel,
     Cripple
     Creek          4,882    5,013        $682       $845
    Century
     Casino &
     Hotel,
     Central
     City           8,381    8,341      $1,868     $2,043
    Cruise Ships    1,116      890           $236       $110
    Corporate           -        -        ($2,251)   ($2,667)
                      ---      ---        -------    -------
    Consolidated
     net
     operating
     revenue      $29,077  $23,883         $4,088     $3,660
                  =======  =======         ======     ======



    Three Months Ended June 30, 2010
    
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<p>Century Casino & Hotel (<span class="xn-location">Edmonton</span>, Alberta, <span class="xn-location">Canada</span>) - Net operating revenue at the Century Casino & Hotel in <span class="xn-location">Edmonton</span> increased by 14.6% to <span class="xn-money">$5.5 million</span> for the second quarter of 2010 compared to <span class="xn-money">$4.8 million</span> for the second quarter of 2009. This increase is primarily due to an increase in table games and slot revenue and the improved exchange rate between the U.S. dollar and Canadian dollar. Management believes that an increase in the size of player wagers was the primary reason for the increase in table games revenue and improvements to the floor by the Alberta Gaming and Liquor Commission (AGLC) with slot machine movements and conversions the reason for increase in slot revenue.  In Canadian dollars, Adjusted EBITDA* remained constant at CAD 1.8 million for the three months ended <span class="xn-chron">June 30</span> 2010 and 2009.</p>
<p/>
<p>Womacks Casino (Cripple Creek, Colorado, USA) - Net operating revenue at Womacks Casino in Cripple Creek, Colorado increased <span class="xn-money">$0.2 million</span>, or 8.3%, from <span class="xn-money">$2.4 million</span> for the second quarter of 2009 to <span class="xn-money">$2.6 million</span> for the second quarter of 2010. Management believes that Womacks has regained market share due to positive customer service, food product improvements and improved weather conditions. Adjusted EBITDA* increased 39.6% from <span class="xn-money">$0.3 million</span> for the second quarter of 2009 to <span class="xn-money">$0.5 million</span> for the second quarter of 2010 primarily due to improved earnings from operations between the second quarter of 2010 and the second quarter of 2009.</p>
<p/>
<p>Century Casino and Hotel (Central City, Colorado, USA) - Net operating revenue at the Century Casino and Hotel in Central City remained flat at <span class="xn-money">$4.2 million</span> when comparing the second quarter of 2010 to the second quarter of 2009, primarily due to poor overall economic conditions impacting revenues.  Coin-in remained flat and the slot hold percentage is down due to a change in slot play from video to video poker, which has a lower hold percentage.  Table revenue increased by 77% due to changes implemented from Amendment 50.  Century Casino's market share for the three months ended <span class="xn-chron">June 30, 2010</span> increased compared to the three months ended <span class="xn-chron">June 30, 2009</span> to 29.1% from 28.9%.  Management believes that weekend promotions have worked to maintain business with emphasis on cash and point multiplier promotions. Adjusted EBITDA* for the Century Casino and Hotel in Central City for the second quarter of 2010 decreased by 3.4% to <span class="xn-money">$0.9 million</span> compared to <span class="xn-money">$1.0 million</span> in the second quarter of 2010. The decrease is primarily due to poor overall economic conditions.</p>
<p/>
<p>Cruise Ships - The Company's ship-based casinos contributed net operating revenue of <span class="xn-money">$0.5 million</span> for the second quarter of 2010 compared to <span class="xn-money">$0.4 million</span> in the second quarter of 2009. Adjusted EBITDA* increased from <span class="xn-money">$0.05 million</span> for the second quarter of 2009 to <span class="xn-money">$0.07 million</span> for the second quarter of 2010. The increase in net operating revenue and adjusted EBITDA is primarily due to increases in gaming revenue from three new cruise ships, Wind Star, Wind Surf and Wind Spirit which all began service in <span class="xn-chron">April 2010</span> and a <span class="xn-money">$36,000</span> increase in revenue from Mein Schiff.</p>
<p/>
<p>Corporate - Corporate operations reported negative Adjusted EBITDA* of <span class="xn-money">$1.1 million</span> for the second quarter of 2010 compared to negative Adjusted EBITDA* of <span class="xn-money">$1.4 million</span> for the second quarter of 2009. The lower negative Adjusted EBITDA* is primarily due to a reduction in the amount of stock compensation recognized in the second quarter of 2010 compared to the second quarter of 2009.</p>
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    Six Months Ended June 30, 2010
    
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<p>Century Casino & Hotel (<span class="xn-location">Edmonton</span>, Alberta, <span class="xn-location">Canada</span>) - Net operating revenue at the Century Casino & Hotel in <span class="xn-location">Edmonton</span> increased by 13.5% to <span class="xn-money">$10.9 million</span> for the six months ended <span class="xn-chron">June 30, 2010</span> compared to <span class="xn-money">$9.6 million</span> for the six months ended <span class="xn-chron">June 30, 2009</span>. This increase is primarily due to an increase in table games and slot revenue and the improved exchange rate between the U.S. dollar and Canadian dollar. Management believes that an increase in the size of player wagers was the primary reason for the increase in table games revenue and improvements to the floor by the AGLC with slot machine movements and conversions the reason for increase in slot revenue.  In Canadian dollars, Adjusted EBITDA* decreased from CAD 4.0 million to CAD 3.5 for the six months ended <span class="xn-chron">June 30, 2010</span> and 2009 primarily due to a decrease in table games hold in the first quarter.</p>
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<p>Womacks Casino (Cripple Creek, Colorado, USA) - Net operating revenue at Womacks Casino in Cripple Creek, Colorado decreased <span class="xn-money">$0.1 million</span>, or 2.0%, from <span class="xn-money">$4.9 million</span> for the six months ending <span class="xn-chron">June 30, 2010</span> compared to <span class="xn-money">$5.0 million</span> for the same period in 2009, primarily due to a decline in the gaming market. Adjusted EBITDA* decreased 12.5% from <span class="xn-money">$0.8 million to $0.7 million</span> primarily due a decrease in net operating revenue between the six months ended <span class="xn-chron">June 30, 2010</span> and the six months ended <span class="xn-chron">June 30, 2009</span>.</p>
<p/>
<p>Century Casino and Hotel (Central City, Colorado, USA) - Net operating revenue at the Century Casino and Hotel in Central City remained flat at <span class="xn-money">$8.3 million</span> when comparing the six months ending <span class="xn-chron">June 30, 2010</span> to the same period of 2009.  Management attributes the flat operating revenue to poor overall economic conditions.  Coin-in remains flat and the slot hold percentage is down due to a change in slot play from video to video poker which has a lower hold percentage. Table revenue increased due to Amendment 50.  Management believes that weekend promotions have worked to maintain business with emphasis on cash and point multiplier promotions.  Adjusted EBITDA* for the Century Casino and Hotel in Central City for the six months ending <span class="xn-chron">June 30, 2010</span> decreased 5.0% to <span class="xn-money">$1.9 million</span> from <span class="xn-money">$2.0 million</span> for the six months ending <span class="xn-chron">June 30, 2009</span>. This decrease is primarily due an increase in operating expenses between the six months ended <span class="xn-chron">June 30, 2010</span> and the six months ended <span class="xn-chron">June 30, 2009</span>.</p>
<p/>
<p>Cruise Ships - The Company's ship-based casinos contributed net operating revenue of <span class="xn-money">$1.1 million</span> for the six months ended <span class="xn-chron">June 30, 2010</span> compared to <span class="xn-money">$0.9 million</span> for the six months ended <span class="xn-chron">June 30, 2009</span> as the result of the impact of  three new cruise ships, Wind Star, Wind Surf and Wind Spirit which all beginning service in April of 2010. Adjusted EBITDA* increased <span class="xn-money">$0.1 to $0.2 million</span> for the six months ended <span class="xn-chron">June 30</span> 2010 compared to <span class="xn-money">$0.1 million</span> for the six months ended <span class="xn-chron">June 30, 2009</span>. The increase in adjusted EBITDA is also attributable to the impact of the three new ship casinos.</p>
<p/>
<p>Corporate - Corporate operations reported negative Adjusted EBITDA* of <span class="xn-money">$2.1 million</span> for six months ended <span class="xn-chron">June 30, 2010</span> compared to negative Adjusted EBITDA* of <span class="xn-money">$2.7 million</span> for the six months ended <span class="xn-chron">June 30, 2009</span>. The lower negative Adjusted EBITDA* is primarily due to a decrease reduction the amount of stock compensation recognized and a reduction in professional fees for six months ended <span class="xn-chron">June 30, 2010</span> as compared to the same period of 2009.</p>
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    Liquidity
    
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<p>Cash and cash equivalents totaled <span class="xn-money">$24.5 million</span> at <span class="xn-chron">June 30, 2010</span> and the Company had working capital (current assets minus current liabilities) of <span class="xn-money">$15.7 million</span>. During 2010, the Company paid <span class="xn-money">$9.3 million</span> for its acquisition of the Silver Dollar. In <span class="xn-chron">April 2010</span>, the Company paid <span class="xn-money">$2.2 million</span> for land in Cripple Creek, Colorado. The Company expects to pay approximately <span class="xn-money">$3.0 million</span> in capital expenditures at all its casinos over the next twelve months.</p>
<p/>
<p>The Company will post the 10-Q filed with the SEC for the second quarter of 2010 on its website at <a href="http://www.cnty.com/corporate/investor/sec-filings/">www.cnty.com/corporate/investor/sec-filings/</a> today.</p>
<p/>
<p>Century Casinos will host its Q2 2010 Earnings Conference Call today at <span class="xn-chron">8:00 am MDT</span>; <span class="xn-chron">4:00 pm CEST</span>, respectively. U.S. domestic participants please dial +1-800-862-9098; all other international participants please use +1-785-424-1051 to dial in. Participants may also listen to the call live or obtain a recording of the call on our website at <a href="http://www.cnty.com/corporate/investor/financial-results/">www.cnty.com/corporate/investor/financial-results/</a>.</p>
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    (continued)

    
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<p> </p>
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    CENTURY CASINOS, INC. AND SUBSIDIARIES
    FINANCIAL INFORMATION - US GAAP BASIS
    -------------------------------------
    
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<p> </p>
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                                                         For the six months
                                  For the three
                                     months
                                 ended June 30,            ended June 30,
                                 --------------            --------------
    Amounts in
     thousands, except
     for share and per
     share information          2010         2009        2010        2009
                                ----         ----        ----        ----
    Operating revenue:
      Gaming                 $13,239      $11,138     $25,821     $22,610
      Hotel, food and
       beverage                2,756        2,037       5,521       3,936
      Other                      770          463       1,349         872
                                 ---          ---       -----         ---
               Gross revenue  16,765       13,638      32,691      27,418
    Less: Promotional
     allowances                1,825        1,754       3,614       3,535
    Net operating
     revenue                  14,940       11,884      29,077      23,883
                              ------       ------      ------      ------
    Operating costs
     and expenses:
      Gaming                   5,854        4,589      11,287       9,058
      Hotel, food and
       beverage                2,228        1,659       4,338       3,199
      General and
       administrative          5,150        4,547      10,093       8,878
      Depreciation             1,524        1,550       3,013       3,122
                               -----        -----       -----       -----
    Total operating
     costs and
     expenses                 14,756       12,345      28,731      24,257
    Earnings from
     equity investment           160          154         348         243
    
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<p> </p>
<pre>
    
    Operating earnings
     (loss)  from
     continuing
     operations                  344         (307)        694        (131)
    Non-operating
     income (expense):
      Interest income             14            1          22          10
      Interest expense          (281)        (915)       (572)    (1,815)
      (Losses) gains on
       foreign currency
       transactions and
       other                    (244)         276          (1)       (249)
    Non-operating
     (expense), net             (511)        (638)       (551)    (2,054)
                                ----         ----        ----      ------
    (Loss) income from
     continuing
     operations before
     income taxes               (167)        (945)        143     (2,185)
    
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<p> </p>
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    Income tax
     provision                    92          100         272         319
    Loss from
     continuing
     operations                 (259)     (1,045)        (129)    (2,504)
                                ----       ------        ----      ------
    
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<p> </p>
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    Discontinued
     operations:
      Earnings from
       discontinued
       operations                  -        1,424           -       2,712
      Gain on
       disposition of
       Century Casino
       Millennium                  -           38           -         915
      Gain on
       disposition of
       Century Casinos
       Africa                      -       19,848           -      19,848
      Income tax
       provision                   -          533           -         796
    Earnings from
     discontinued
     operations                    -       20,777           -      22,679
                                 ---       ------         ---      ------
    Net (loss)
     earnings                   (259)      19,732        (129)     20,175
    
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<p> </p>
<pre>
    
    Less:
    Net earnings
     attributable to
     the
     noncontrolling
            interests
             (continuing
             operations)           -          (19)          -         (37)
    Net earnings
     attributable to
     the
     noncontrolling
            interests
             (discontinued
             operations)           -          848           -         964
    Net (loss)
     earnings
     attributable to
     Century Casinos,
     Inc. and
     subsidiaries              ($259)  $18,903     ($129)  $19,248
                               =====      =======       =====     =======


    
</pre>
<p> </p>
<pre>
    
    CENTURY CASINOS, INC. AND SUBSIDIARIES
    FINANCIAL INFORMATION - US GAAP BASIS
    -------------------------------------
    
</pre>
<p> </p>
<pre>
    
    Century Casinos, Inc.
    Earnings per Share
    
</pre>
<p> </p>
<pre>
    
                             For the three
                                 months             For the six months
                            ended June 30,            ended June 30,
                            --------------            --------------
                             2010            2009        2010            2009
                             ----            ----        ----            ----
    Basic earnings per
     share:
       Loss from
        continuing
        operations         ($0.01)         ($0.05)     ($0.01)         ($0.10)
       Earnings
        from
        discontinued
        operations              -            0.85           -            0.92
       Net (loss)
        earnings           ($0.01)          $0.80      ($0.01)          $0.82
                           ======           =====      ======           =====
    
</pre>
<p> </p>
<pre>
    
    Diluted earnings
     per share:
       Loss from
        continuing
        operations         ($0.01)         ($0.05)     ($0.01)         ($0.10)
       Earnings
        from
        discontinued
        operations              -            0.85           -            0.92
       Net (loss)
        earnings           ($0.01)          $0.80      ($0.01)          $0.82
                           ======           =====      ======           =====
    
</pre>
<p> </p>
<pre>
    
    Amounts
     attributable to
     Century Casinos,
     Inc. and
     subsidiaries
      common
       shareholders:
       Loss from
        continuing
        operations          ($259)        ($1,026)      ($129)        ($2,467)
       Earnings
        from
        discontinued
        operations              -          19,929           -          21,715
       Net (loss)
        earnings            ($259)        $18,903       ($129)        $19,248
                            =====         =======       =====         =======
    
</pre>
<p> </p>
<pre>
    
    Weighted
     average
     common
     shares            23,529,368      23,524,067  23,535,936      23,524,067


    CENTURY CASINOS, INC. AND SUBSIDIARIES
    FINANCIAL INFORMATION - US GAAP BASIS

    
</pre>
<p> </p>
<p> </p>
<p> </p>
<pre>
    
    Century Casinos, Inc.
    Condensed Consolidated Balance Sheets (Unaudited)
    (Amounts in thousands)
    
</pre>
<p> </p>
<pre>
    
                                         June 30,   December 31,
                                               2010          2009
                                               ----          ----
    Assets
    Current Assets                          $26,171       $39,627
    Property and equipment, net              99,710        88,241
    Other Assets                              8,498         7,442
    Total Assets                           $134,379      $135,310
                                           ========      ========
    
</pre>
<p> </p>
<pre>
    
    Liabilities and Shareholders' Equity
    Current Liabilities                     $10,356       $10,984
    Non-Current Liabilities                  16,636        16,037
    Shareholders' Equity                    107,387       108,289
    Total Liabilities and Shareholders'
     Equity                                $134,379      $135,310
                                           ========      ========



    
</pre>
<p> </p>
<p> </p>
<pre>
    
    Century Casinos, Inc.
    Adjusted Net Loss (Unaudited)
    (Amounts in thousands)
    
</pre>
<p> </p>
<pre>
    
                                        For the Three
                                           Months          For the Six Months
                                       Ended June 30,        Ended June 30,
                                       --------------        --------------
                                     2010          2009   2010          2009
                                     ----          ----   ----          ----
    Loss from continuing operations ($259)     ($1,045)  ($129)     ($2,504)
    Foreign currency loss (gains)     244          (276)     1           249
    Other income - insurance
     reimbursement                      -             -   (108)            -
        Adjusted Net Loss            ($15)     ($1,321)  ($236)     ($2,255)
                                     ====       =======  =====       =======


    CENTURY CASINOS, INC. AND SUBSIDIARIES
    SUPPLEMENTAL INFORMATION

    
</pre>
<p> </p>
<p> </p>
<p> </p>
<pre>
    
    Century Casinos, Inc.
    Adjusted EBITDA Margins ** by Property (Unaudited)
    
</pre>
<p> </p>
<pre>
    
                                        For the Three        For the Six
                                           Months              Months
                                       Ended June 30,      Ended June 30,
                                       --------------      --------------
                                      2010        2009  2010          2009
                                      ----        ----  ----          ----
    Century Casino & Hotel (Edmonton)   32%         32%   31%           34%
    Silver Dollar Casino (Calgary)      -1%          0%    4%            0%
    Womacks Casino & Hotel (Cripple
     Creek)                             19%         14%   14%           17%
    Century Casino & Hotel (Central
     City)                              22%         23%   22%           24%
    Cruise Ships                        15%         12%   21%           12%
    Consolidated Adjusted EBITDA
     Margin                             13%         13%   14%           15%


    
</pre>
<p> </p>
<p> </p>
<pre>
    
    Century Casinos, Inc.
    Reconciliation of Adjusted EBITDA * to Earnings (Loss) from
    Continuing Operations by Property (Unaudited)
    For the Three Months Ended June 30, 2010
    
</pre>
<p> </p>
<pre>
    
                             Three Months Ended June 30, 2010
                                     Cripple
                       Edmonton       Creek        Central      Cruise
                                                    City        Ships
                                                    ----        -----
    Earnings (loss)
     from continuing
     operations            $855         $121          $176         ($3)
    Interest income         (10)           -             -           -
    Interest expense        281            -             -           -
    Income taxes            280           74            97           -
    Depreciation            353          294           674          82
    Stock
     compensation             -                          -           -
    Foreign currency         (3)           -             -           -
    Disposition of
     fixed assets             3            1             -           -
                            ---          ---           ---         ---
    Adjusted EBITDA*     $1,759         $490          $947         $79
                         ======         ====          ====         ===



    
</pre>
<p> </p>
<p> </p>
<pre>
    
                       Three Months Ended June 30, 2010
                        Silver      Corporate     Total
                        Dollar
                        ------
    Earnings (loss)
     from continuing
     operations           ($63)       ($1,345)    ($259)
    Interest income         (1)            (3)       (14)
    Interest expense         0              -        281
    Income taxes           (26)          (333)        92
    Depreciation            67             54      1,524
    Stock
     compensation            -            145        145
    Foreign currency        (4)           238        231
    Disposition of
     fixed assets            -             (1)         3
                           ---            ---        ---
    Adjusted EBITDA*      ($26)       ($1,246)    $2,003
                          ====        =======     ======


    
</pre>
<p> </p>
<pre>
    
                             Three Months Ended June 30, 2009
                                     Cripple
                       Edmonton        Creek       Central      Cruise
                                                      City       Ships
                                                      ----       -----
    Earnings (loss)
     from continuing
     operations            $653         ($41)        ($171)       ($17)
    Interest income           -            -             -           -
    Interest expense        281           74           515           -
    Income taxes            253          (25)         (117)         (2)
    Depreciation            320          343           751          71
    Stock
     compensation             -            -             -           -
    Foreign currency         47            -             -           -
    Disposition of
     fixed assets             -            -             2           -
                            ---          ---           ---         ---
    Adjusted EBITDA*     $1,554         $351          $980         $52
                         ======         ====          ====         ===



    
</pre>
<p> </p>
<p> </p>
<pre>
    
                       Three Months Ended June 30, 2009
                        Silver      Corporate         Total
                        Dollar
                        ------
    Earnings (loss)
     from continuing
     operations              -        ($1,469)      ($1,045)
    Interest income          -             (1)           (1)
    Interest expense         -             45           915
    Income taxes             -             (9)          100
    Depreciation             -             65         1,550
    Stock
     compensation            -            275           275
    Foreign currency         -           (293)         (246)
    Disposition of
     fixed assets            -             13            15
                           ---            ---           ---
    Adjusted EBITDA*         -        ($1,374)       $1,563
                           ===        =======        ======



    CENTURY CASINOS, INC. AND SUBSIDIARIES
    SUPPLEMENTAL INFORMATION

    
</pre>
<p> </p>
<p> </p>
<p> </p>
<pre>
    
    Century Casinos, Inc.
    Reconciliation of Adjusted EBITDA* to Earnings (Loss) from Continuing
    Operations by Property (Unaudited)
    For the Six Months Ended June 30, 2010
    (Amounts in Thousands)
    
</pre>
<p> </p>
<pre>
    
                                Six Months Ended June 30, 2010
                                ------------------------------
                                       Cripple
                         Edmonton       Creek        Central     Cruise
                                                      City       Ships
                                                      ----       -----
    Earnings from
     continuing
     operations            $1,574          $61          $338        $64
    Interest income           (18)           -             -          -
    Interest expense          562            -             -          -
    Income taxes              561           37           183          2
    Depreciation              696          583         1,346        170
    Stock compensation          -            -             -          -
    Foreign currency           22            -             -          -
    Disposition of
     fixed assets               3            1             1          -
                              ---          ---           ---        ---
    Adjusted EBITDA*       $3,400         $682        $1,868       $236



    
</pre>
<p> </p>
<p> </p>
<pre>
    
                         Six Months Ended June 30, 2010
                         ------------------------------
                         Silver      Corporate     Total
                         Dollar
                         ------
    Earnings from
     continuing
     operations             $31        ($2,197)    ($129)
    Interest income          (1)            (3)       (22)
    Interest expense          2              -        564
    Income taxes             12           (525)       271
    Depreciation            108            110      3,013
    Stock compensation        -            288        288
    Foreign currency          1             73         96
    Disposition of
     fixed assets             -              2          7
                            ---            ---        ---
    Adjusted EBITDA*       $153        ($2,251)    $4,088


    
</pre>
<p> </p>
<pre>
    
                                Six Months Ended June 30, 2009
                                ------------------------------
                                       Cripple
                         Edmonton        Creek        Central     Cruise
                         --------      --------
                                                       City       Ships
                                                       ----       -----
    Earnings from
     continuing
     operations            $1,534          ($20)        ($302)      ($17)
    Interest income            (2)            -            (1)         -
    Interest expense          530           138         1,052          -
    Income taxes              602           (12)         (210)        (2)
    Depreciation              619           739         1,502        129
    Stock compensation          -             -             -          -
    Foreign currency           46             -             -          -
    Disposition of
     fixed assets               -             -             2          -
                              ---           ---           ---        ---
    Adjusted EBITDA*       $3,329          $845        $2,043       $110
                           ======          ====        ======       ====



    
</pre>
<p> </p>
<p> </p>
<pre>
    
                         Six Months Ended June 30, 2009
                         ------------------------------
                         Silver      Corporate       Total
                                     ---------       -----
                         Dollar
                         ------
    Earnings from
     continuing
     operations             -          ($3,699)      ($2,504)
    Interest income         -               (7)          (10)
    Interest expense        -               95         1,815
    Income taxes            -              (59)          319
    Depreciation            -              133         3,122
    Stock compensation      -              624           624
    Foreign currency        -              233           279
    Disposition of
     fixed assets           -               13            15
                           ---             ---           ---
    Adjusted EBITDA*        -          ($2,667)       $3,660
                           ===         =======        ======




    CENTURY CASINOS, INC. AND SUBSIDIARIES
    SUPPLEMENTAL INFORMATION

    
</pre>
<p> </p>
<p> </p>
<pre>
    
                            Century Resorts Alberta
        Reconciliation of Adjusted EBITDA to Net Earnings (Unaudited) in
                                Canadian Dollars
                             (Amounts in thousands)
    
</pre>
<p> </p>
<p> </p>
<pre>
    
                        For the       For the
                         three         three     For the six  For the six
                                                    months       months
                     months ended  months ended      ended        ended
                        June 30,      June 30,     June 30,     June 30,
                          2010          2009         2010         2009
                       ---------     ---------    ---------    ---------
    Net earnings -
     CAD                    $$835          $823       $1,639       $1,920
    Interest income           (11)           (1)         (19)          (3)
    Interest expense          296           327          597          637
    Income taxes              286           296          578          728
    Depreciation              363           373          720          745
    Foreign currency
     (gains)                   41            (1)           6           (1)
    Loss on
     disposition of
     fixed assets               2             -            3            -
    Adjusted EBITDA*
     -CAD                 $$1,812        $1,817       $3,524       $4,026
                          =======        ======       ======       ======




    
</pre>
<p> </p>
<p> </p>
<pre>
    
                              Silver Dollar Casino
       Reconciliation of Adjusted EBITDA* to Net Earnings (Unaudited) in
                                Canadian Dollars
                             (Amounts in thousands)
    
</pre>
<p> </p>
<pre>
    
                            April 1,    January 13,
                           to June 30    to June 30
                                  2010          2010
                                  ----          ----
    Net earnings - CAD            $(80)           29
    Interest income                 (1)           (1)
    Interest expense                 0             0
    Income taxes                   (29)           12
    Depreciation                    69           112
    Foreign currency                10             7
    Adjusted EBITDA* - CAD        $(31)          159
                                  ====           ===


    
</pre>
<p>*  The Company defines Adjusted EBITDA as earnings (loss) from continuing operations before interest, income taxes, depreciation, amortization, pre-opening expenses, non-cash stock based compensation charges, asset impairment costs, gains (losses) on disposition of fixed assets, discontinued operations, realized foreign currency gains (losses) and certain other one-time items. For the first quarter of 2010, the Company recognized revenue of <span class="xn-money">$0.1 million</span> for insurance proceeds received on damages to a property, in Wells Nevada, that the Company no longer owns. Intercompany transactions consisting primarily of management fees and interest, along with their related tax effects, are excluded from the presentation of net earnings and Adjusted EBITDA reported for each property. These adjustments have no effect on the consolidated results. Adjusted EBITDA is not considered a measure of performance recognized under accounting principles generally accepted in the <span class="xn-location">United States</span> of America. Management believes that Adjusted EBITDA is a valuable measure of the relative performance among its operating segments. 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. EBITDA (Earnings before interest, taxes, depreciation and amortization) 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. Please see the reconciliation of Adjusted EBITDA to earnings from continuing operations below. Not all of the aforementioned items occur in each reporting period, but have been included in the definition based on historical activity.</p>
<p/>
<p>**  The Company defines Adjusted EBITDA margin as Adjusted EBITDA divided by net operating revenue. Management uses this margin as one of several measures to evaluate the efficiency of the Company's casino operations.</p>
<pre>
    



    CENTURY CASINOS, INC. AND SUBSIDIARIES
    SUPPLEMENTAL INFORMATION

    About Century Casinos, Inc.:
    
</pre>
<p>Century Casinos, Inc. is an international casino entertainment company that owns and operates the Womacks Casino & Hotel in Cripple Creek, Colorado, the Century Casino & Hotel in Central City, Colorado, the Century Casino & Hotel in <span class="xn-location">Edmonton</span>, <span class="xn-location">Canada</span> and the Silver Dollar Casino in <span class="xn-location">Calgary</span>, <span class="xn-location">Canada</span>. The Company also operates casinos aboard eight luxury cruise vessels (Silver Cloud, Regatta, Insignia, Nautica, Mein Schiff, Wind Surf, Wind Star, Wind Spirit) and signed contracts for casinos on six additional ships (Seven Seas Voyager, Seven Seas Mariner, Seven Seas Navigator, Marina, Riviera and TUI Mein Schiff II) that are expected to start operations soon. Through its Austrian subsidiary, Century Casinos <span class="xn-location">Europe</span> GmbH, the Company holds a 33.3% ownership interest in Casinos <span class="xn-location">Poland</span> Ltd., the owner and operator of seven full casinos and one slot casino in <span class="xn-location">Poland</span>. Century Casinos, Inc. continues to pursue other international projects in various stages of development.</p>
<p/>
<p>For more information about Century Casinos, visit our website at <a href="http://www.centurycasinos.com">www.centurycasinos.com</a>. Century Casinos' common stock trades on The NASDAQ Capital Market® and the <span class="xn-location">Vienna</span> Stock Exchange under the symbol CNTY.</p>
<p/>
<p>This release may contain "forward-looking statements" within the meaning of 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, expected competition, the impact of new gaming laws, plans for our casinos and the impact of the economic downturn. 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 sections entitled "Risk Factors" under Item 1A in our Annual Report on Form 10-K filed on <span class="xn-chron">March 15, 2010</span>. 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.</p>
<pre>
    






    

For further information: For further information: Peter Hoetzinger, Co CEO & President, +1-719-689-5813, +43 664 355 3935, peter.hoetzinger@cnty.com Web Site: http://www.centurycasinos.com


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