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Description Of Business And Basis Of Presentation | 12 Months Ended
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Dec. 31, 2018
Description Of Business And Basis Of Presentation [Abstract] |
Description Of Business And Basis Of Presentation | 1. DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION ﻿ Century Casinos, Inc. (the “Company”) is an international casino entertainment company. As of December 31, 2018, the Company owned casino operations in North America and England; was developing a racetrack and entertainment center (“REC”) in Edmonton, Canada; held a majority ownership interest in eight casino licenses throughout Poland; held a majority interest in a REC in Calgary, Canada, and the pari-mutuel off-track betting network in southern Alberta, Canada; managed cruise ship-based casinos on international waters; managed a hotel, entertainment and gaming club in Vietnam through a majority-owned subsidiary, and provided gaming services in Argentina. ﻿ The Company currently owns, operates and manages the following casinos through wholly-owned subsidiaries in North America and England: ﻿
| · |  | The Century Casino & Hotel in Edmonton, Alberta, Canada
| · |  | The Century Casino St. Albert in St. Albert, Alberta, Canada
| · |  | The Century Casino Calgary in Calgary, Alberta, Canada
| · |  | The Century Casino & Hotel in Central City, Colorado
| · |  | The Century Casino & Hotel in Cripple Creek, Colorado; and
| · |  | The Century Casino Bath (formerly Saw Close Casino) in Bath, England (“CCB”)
﻿ In June 2017, the Company, through its subsidiary Century Resorts Management GmbH (formerly Century Casinos Europe GmbH) (“CRM”), acquired licenses held by Saw Close Casino Ltd. in Bath, England. The Company uses those licenses to operate Century Casino Bath, a 20,000 square foot casino that includes 60 slot and electronic roulette machines and 15 table games. The Company opened the casino in May 2018. ﻿ The Company currently has a controlling financial interest through its subsidiary CRM in the following majority-owned subsidiaries: ﻿
| · |  | The Company owns 66.6% of Casinos Poland Ltd. (“CPL” or “Casinos Poland”). As of December 31, 2018, CPL owned eight casino licenses and operated seven casinos throughout Poland. CPL is consolidated as a majority-owned subsidiary for which the Company has a controlling financial interest. Polish Airports Company (“Polish Airports”) owns the remaining 33.3% of CPL, which is reported as a non-controlling financial interest.
﻿
| · |  | The Company owns 75% of United Horsemen of Alberta Inc. dba Century Downs Racetrack and Casino (“CDR” or “Century Downs”). CDR operates Century Downs Racetrack and Casino, a REC in Balzac, a north metropolitan area of Calgary, Alberta, Canada. CDR is consolidated as a majority-owned subsidiary for which the Company has a controlling financial interest. The remaining 25% is owned by unaffiliated shareholders and is reported as a non-controlling financial interest.
﻿
| · |  | The Company owns 75% of Century Bets! Inc. (“CBS” or “Century Bets”). CBS is consolidated as a majority-owned subsidiary for which the Company has a controlling financial interest. Rocky Mountain Turf Club (“RMTC”) owns the remaining 25% of CBS, which is reported as a non-controlling financial interest. CBS operates the pari-mutuel off-track betting network of southern Alberta.
﻿ The Company has the following concession, management and consulting service agreements: ﻿
| · |  | As of December 31, 2018, the Company operated 11 ship-based casinos through concession agreements with three cruise lines. The concession agreements to operate the ship-based casinos onboard the Mein Schiff 1, Marella Discovery and Wind Star ended in April 2018, October 2018 and November 2018, respectively. The concession agreement to operate the ship-based casino onboard the Wind Spirit ended in January 2019.
﻿ In March 2015, the Company mutually agreed with Norwegian Cruise Line Holdings (“Norwegian”) to terminate its concession agreements with Oceania Cruises (“Oceania”) and Regent Seven Seas Cruises (“Regent”). The Company entered into a two-year consulting agreement, which became effective on June 1, 2015, under which the Company provided limited consulting services for the ship-based casinos of Oceania and Regent in exchange for receiving a consulting fee of $2.0 million, which was payable $250,000 per quarter through May 2017. ﻿
| · |  | The Company, through its subsidiary CRM, has a 7.5% ownership interest in Mendoza Central Entretenimientos S.A, an Argentina company (“MCE”). The shares are reported on the consolidated balance sheet using the cost method of accounting. MCE has an exclusive concession agreement with Instituto Provincial de Juegos y Casinos to lease slot machines and provide related services to Casino de Mendoza, a casino located in Mendoza, Argentina and owned by the Province of Mendoza. In addition, CRM and MCE have entered into a consulting services agreement pursuant to which CRM provides advice on casino matters and receives a service fee consisting of a fixed fee plus a percentage of MCE’s earnings before interest, taxes, depreciation and amortization (“EBITDA”). See Note 4 for additional information regarding MCE.
﻿ ﻿
| · |  | The Company had a management agreement to direct the operation of the casino at the Hilton Aruba Caribbean Resort & Casino from which the Company received a monthly management fee. The management agreement ended November 30, 2017.
﻿
| · |  | On April 25, 2018, the Company’s subsidiary CRM entered into a Shareholder’s Agreement with Golden Hospitality Ltd. (“GHL”) and GHL’s shareholders, pursuant to which CRM purchased a 51% ownership interest in GHL. The remaining 49% of GHL is owned by unaffiliated shareholders and is reported by the Company as a non-controlling financial interest. For its ownership interest in GHL, the Company recognized assets of $0.5 million, including $0.2 million in cash, and assumed liabilities of $0.1 million as of the date of acquisition. The Company consolidates GHL as a majority-owned subsidiary for which the Company has a controlling financial interest. GHL is included in the Corporate and Other reportable segment.
﻿ The Company, through its subsidiary GHL, has a 9.21% ownership interest in Minh Chau Ltd. (“MCL”). The investment is reported on the consolidated balance sheet using the equity method of accounting. MCL is the owner of a small hotel and entertainment and gaming club in the Cao Bang province of Vietnam that is 300 feet from the Vietnamese – Chinese border station. GHL and MCL also entered into a management agreement under which GHL is managing the operations at the hotel and entertainment and gaming club in exchange for receiving a portion of MCL’s net profit. See Note 4 for additional information regarding MCL. ﻿ Additional Projects and Other Developments ﻿ The Company is building a horse racing facility in the Edmonton market area, which it is planning to operate as Century Mile Racetrack and Casino (“Century Mile” or “CMR”). Century Mile will be a one-mile horse racetrack and a multi-level REC. The project is located on Edmonton International Airport land close to the city of Leduc, south of Edmonton. The Company began construction on the Century Mile project in July 2017 and the REC will open on April 1, 2019. ﻿ In August 2017, the Company announced that, together with the owner of the Hamilton Princess Hotel & Beach Club in Hamilton, Bermuda, it had submitted a license application to the Bermudan government for a casino at the Hamilton Princess Hotel & Beach Club. The casino will feature approximately 200 slot machines, 17 live table games, one or more electronic table games and a high limit area and salon privé. In September 2017, the Bermuda Casino Gaming Commission granted a provisional casino gaming license, which is subject to certain conditions and approvals including the adoption of certain rules and regulations by the Parliament of Bermuda. CRM entered into a long-term management agreement with the owner of the hotel to manage the operations of the casino and receive a management fee if the license is awarded. CRM will also provide a $5.0 million loan for the purchase of casino equipment if the license is awarded. ﻿ ﻿ ﻿

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