XML 122 R104.htm IDEA: XBRL DOCUMENT v3.20.4
Segment And Geographic Information (Segment Information) (Details) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2020
Sep. 30, 2020
Jun. 30, 2020
[2]
Mar. 31, 2020
[3]
Dec. 31, 2019
Sep. 30, 2019
[4]
Jun. 30, 2019
[5]
Mar. 31, 2019
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Segment Reporting Information [Line Items]                      
Net operating revenue $ 84,801 [1] $ 95,706 $ 36,103 $ 87,656 $ 67,236 [4] $ 52,935 $ 52,445 $ 45,613 $ 304,268 $ 218,227 $ 168,938
Earnings (loss) before income taxes                 (43,288) (11,967) 5,923
Net (loss) earnings attributable to Century Casinos, Inc. shareholders 6,713 [1] $ 3,748 $ (12,607) $ (45,856) (20,140) [4] $ 482 $ (565) $ 1,068 (48,002) (19,155) 3,394
Income taxes (benefit)                 4,848 4,174 1,917
Depreciation and amortization                 26,534 10,843 9,399
Net earning (loss) attributable to non-controlling interests                 (134) 3,014 612
Non-cash stock-based compensation                 (214) 1,303 868
(Gain) loss on foreign currency transactions, cost recovery income and other                 63 (1,482) (578)
Impairment - intangible and tangible assets                 35,121 16,486  
Total assets 680,760       726,900       680,760 726,900  
Cash payments related to lease                 6,355 7,062  
Income related to the sale of the casino operations                 6,575    
Corporate And Other [Member]                      
Segment Reporting Information [Line Items]                      
Net operating revenue                 1,413 5,685 5,885
Impairment - intangible and tangible assets                 0   0
United States [Member]                      
Segment Reporting Information [Line Items]                      
Net operating revenue                 198,344 49,998 33,483
Canada [Member]                      
Segment Reporting Information [Line Items]                      
Net operating revenue                 50,240 80,650 61,361
Canada [Member] | Century Mile [Member]                      
Segment Reporting Information [Line Items]                      
Capital expenditures                   15,000 40,000
Poland [Member]                      
Segment Reporting Information [Line Items]                      
Net operating revenue                 54,271 81,894 68,209
Operating Segments [Member]                      
Segment Reporting Information [Line Items]                      
Net operating revenue                 304,268 [6] 218,227 [6] 168,938 [7]
Earnings (loss) before income taxes                 (43,288) (11,967) 5,923
Net (loss) earnings attributable to Century Casinos, Inc. shareholders                 (48,002) (19,155) 3,394
Interest expense (income), net                 43,098 [8] 8,229 [9] 4,114 [10]
Income taxes (benefit)                 4,848 4,174 1,917
Depreciation and amortization                 26,534 10,843 9,399
Net earning (loss) attributable to non-controlling interests                 (134) 3,014 612
Non-cash stock-based compensation                 (214) 1,303 868
(Gain) loss on foreign currency transactions, cost recovery income and other                 (13,145) [11] (1,312) (661)
Impairment - intangible and tangible assets                 35,121 16,486  
Loss (gain) on disposition of fixed assets                 26 795 1,090
Acquisition costs                 266 5,366  
Pre-opening expenses                   538 2,644
Adjusted EBITDA                 48,398 30,281 23,377
Total assets 680,760       726,900 [12]       680,760 726,900 [12] 278,825
Capital expenditures                 10,705 24,038 [13] 56,774 [14]
Operating Segments [Member] | Corporate And Other [Member]                      
Segment Reporting Information [Line Items]                      
Net operating revenue                 1,413 [6] 5,685 [6] 5,885 [7]
Earnings (loss) before income taxes                 (18,031) (37,866) (11,298)
Net (loss) earnings attributable to Century Casinos, Inc. shareholders                 (18,609) (35,115) (8,541)
Interest expense (income), net                 12,667 [8] 1,085 [9] 12 [10]
Income taxes (benefit)                 578 (2,739) (2,722)
Depreciation and amortization                 566 910 945
Net earning (loss) attributable to non-controlling interests                   (12) (35)
Non-cash stock-based compensation                 (214) 1,303 868
(Gain) loss on foreign currency transactions, cost recovery income and other                 (6,897) [11] 223 2
Impairment - intangible and tangible assets                 1,000 16,486  
Loss (gain) on disposition of fixed assets                 1 345 25
Acquisition costs                 266 5,366  
Pre-opening expenses                     350
Adjusted EBITDA                 (10,642) (12,148) (9,096)
Total assets 32,523       24,703 [12]       32,523 24,703 [12] 37,249
Capital expenditures                 162 837 [13] 8,428 [14]
Operating Segments [Member] | United States [Member]                      
Segment Reporting Information [Line Items]                      
Net operating revenue                 198,344 [6] 49,998 [6] 33,483 [7]
Earnings (loss) before income taxes                 (29,548) 7,843 5,881
Net (loss) earnings attributable to Century Casinos, Inc. shareholders                 (30,571) 5,825 4,373
Interest expense (income), net                 28,357 [8] 1,635 [9] 1 [10]
Income taxes (benefit)                 1,023 2,018 1,508
Depreciation and amortization                 17,580 2,330 2,178
Impairment - intangible and tangible assets                 30,746    
Loss (gain) on disposition of fixed assets                 64 17 1
Adjusted EBITDA                 47,199 11,825 8,061
Total assets 417,388       458,351 [12]       417,388 458,351 [12] 56,302
Capital expenditures                 7,767 1,148 [13] 1,183 [14]
Operating Segments [Member] | Canada [Member]                      
Segment Reporting Information [Line Items]                      
Net operating revenue                 50,240 [6] 80,650 [6] 61,361 [7]
Earnings (loss) before income taxes                 6,869 11,242 10,973
Net (loss) earnings attributable to Century Casinos, Inc. shareholders                 2,551 6,669 7,715
Interest expense (income), net                 2,047 [8] 5,312 [9] 3,895 [10]
Income taxes (benefit)                 3,765 3,278 2,536
Depreciation and amortization                 5,264 4,539 3,211
Net earning (loss) attributable to non-controlling interests                 553 1,295 722
(Gain) loss on foreign currency transactions, cost recovery income and other                 (6,015) [11] (439) (235)
Impairment - intangible and tangible assets                 3,375    
Loss (gain) on disposition of fixed assets                 (43) 20 10
Pre-opening expenses                   538 1,668
Adjusted EBITDA                 11,497 21,212 19,522
Total assets 181,477       191,925 [12]       181,477 191,925 [12] 155,666
Capital expenditures                 2,057 17,865 [13] 42,029 [14]
Operating Segments [Member] | Poland [Member]                      
Segment Reporting Information [Line Items]                      
Net operating revenue                 54,271 [6] 81,894 [6] 68,209 [7]
Earnings (loss) before income taxes                 (2,578) 6,814 367
Net (loss) earnings attributable to Century Casinos, Inc. shareholders                 (1,373) 3,466 (153)
Interest expense (income), net                 27 [8] 197 [9] 206 [10]
Income taxes (benefit)                 (518) 1,617 595
Depreciation and amortization                 3,124 3,064 3,065
Net earning (loss) attributable to non-controlling interests                 (687) 1,731 (75)
(Gain) loss on foreign currency transactions, cost recovery income and other                 (233) [11] (1,096) (428)
Loss (gain) on disposition of fixed assets                 4 413 1,054
Pre-opening expenses                     626
Adjusted EBITDA                 344 9,392 4,890
Total assets $ 49,372       51,921 [12]       49,372 51,921 [12] 29,608
Capital expenditures                 719 4,188 [13] 5,134 [14]
Master Lease [Member] | United States [Member]                      
Segment Reporting Information [Line Items]                      
Interest expense (income), net                 28,400 1,600  
Cash payments related to lease                 25,000 3,800  
CDR Land Lease [Member] | Canada [Member]                      
Segment Reporting Information [Line Items]                      
Interest expense (income), net                 1,500 2,200 2,100
Cash payments related to lease                 1,300 2,000 $ 2,100
Acquired Casinos [Member] | United States [Member]                      
Segment Reporting Information [Line Items]                      
Total assets         $ 404,500         $ 404,500  
Century Casino Calgary [Member] | Canada [Member]                      
Segment Reporting Information [Line Items]                      
Income related to the sale of the casino operations                 $ 6,500    
[1] The Company sold the casino operations of CAL. See Note 1. Casinos in Canada and Poland were temporarily closed in December 2020 to comply with quarantines issued by governments to contain the spread of COVID-19.
[2] The Company’s casinos were temporarily closed during the quarter and the Company permanently closed CCB and deconsolidated CCB. See Note 1.
[3] The Company impaired assets related to goodwill and intangible assets due to triggering events caused by COVID-19. See Notes 4 and 6.
[4] The Company completed the Acquisition in December 2019. See Note 3. In addition, the Company impaired assets related to CCB in December 2019. See Notes 5, 6 and 10.
[5] CMR began operating in April 2019.
[6] Net operating revenue for the Corporate and Other segment primarily relates to CCB and the Company’s cruise ship operations.
[7] Net operating revenue for the Corporate and Other segment primarily relates to the Company’s cruise ship operations.
[8] Expense of $28.4 million related to the Master Lease is included in interest expense (income), net in the United States segment. Expense of $1.5 million related to the CDR land lease is included in interest expense (income), net in the Canada segment. Cash payments related to the Master Lease and CDR land lease were $25.0 million and $1.3 million, respectively, for the period presented.
[9] Expense of $1.6 million related to the Master Lease is included in interest expense (income), net in the United States segment. Expense of $2.2 million related to the CDR land lease is included in interest expense (income), net in the Canada segment. Cash payments related to the Master Lease and CDR land lease were $3.8 million and $2.0 million, respectively, for the period presented.
[10] Expense of $2.1 million related to the CDR land lease is included in interest expense (income), net in the Canada segment. Cash payments related to the CDR land lease were $2.1 million for the period presented.
[11] Income of $6.5 million is included in the Canada segment related to the sale of the casino operations of Century Casino Calgary.
[12] Total assets in the United States segment include $404.5 million related to the Acquired Casinos.
[13] Capital expenditures in 2019 included construction costs of $15.0 million related to Century Mile in the Canada segment.
[14] Capital expenditures in 2018 included construction costs of $40.0 million related to Century Mile in the Canada segment.