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Segment Information | 9 Months Ended
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Sep. 30, 2021
Segment Information [Abstract] |
Segment Information | 13.SEGMENT INFORMATION The Company reports its financial performance in three reportable segments based on the geographical locations in which its casinos operate: the United States, Canada and Poland. The Company views each market in which it operates as a separate operating segment and each casino or other operation within those markets as a reporting unit. Operating segments are aggregated within reportable segments based on their similar economic characteristics, types of customers, types of services and products provided, the regulatory environments in which they operate, and their management and reporting structure. The Company’s operations related to Century Casino Bath, which the Company deconsolidated in May 2020, its concession, management and consulting agreements and certain other corporate and management operations have not been identified as separate reportable segments; therefore, these operations are included in Corporate and Other in the following segment disclosures to reconcile to consolidated results. All intercompany transactions are eliminated in consolidation. The table below provides information about the aggregation of the Company’s reporting units and operating segments into reportable segments:
Reportable Segment | Operating Segment | Reporting Unit
United States | Colorado | Century Casino & Hotel - Central City
|  | Century Casino & Hotel - Cripple Creek
| West Virginia | Mountaineer Casino, Racetrack & Resort
| Missouri | Century Casino Cape Girardeau
|  | Century Casino Caruthersville
Canada | Edmonton | Century Casino & Hotel - Edmonton
|  | Century Casino St. Albert
|  | Century Mile Racetrack and Casino
| Calgary | Century Downs Racetrack and Casino
|  | Century Sports
|  | Century Bets! Inc.
Poland | Poland | Casinos Poland
Corporate and Other | Corporate and Other | Cruise Ships & Other
|  | Corporate Other
The Company’s chief operating decision maker is a management function comprised of two individuals. These two individuals are the Company’s Co-Chief Executive Officers. The Company’s chief operating decision makers and management utilize Adjusted EBITDA as the primary profit measure for its reportable segments. Adjusted EBITDA is a non-US GAAP measure defined as net earnings (loss) attributable to Century Casinos, Inc. shareholders before interest expense (income), net, income taxes (benefit), depreciation, amortization, non-controlling interest (earnings) losses 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 transactions. Expense related to the Master Lease is included in the interest expense (income), net line item. Intercompany transactions consisting primarily of management and royalty fees and interest, along with their related tax effects, are excluded from the presentation of net earnings (loss) and Adjusted EBITDA reported for each segment. Non-cash stock-based compensation expense is presented under Corporate and Other in the tables below as the expense is not allocated to reportable segments when reviewed by the Company’s chief operating decision makers. Not all of the aforementioned items occur in each reporting period, but have been included in the definition based on historical activity. These adjustments have no effect on the consolidated results as reported under US GAAP. Adjusted EBITDA is not considered a measure of performance recognized under US GAAP. ‎ The following tables provide information regarding the Company’s reportable segments:
| For the three months ended September 30, 2021
Amounts in thousands |  |  | United States |  |  | Canada |  |  | Poland |  |  | Corporate and Other |  |  | Total
Net operating revenue (1) |  | $ | 73,897 |  | $ | 21,368 |  | $ | 21,151 |  | $ | 194 |  | $ | 116,610
Earnings (loss) before income taxes |  | $ | 12,389 |  | $ | 6,242 |  | $ | 2,829 |  | $ | (6,488) |  | $ | 14,972
Net earnings (loss) attributable to Century Casinos, Inc. shareholders |  | $ | 12,389 |  | $ | 5,308 |  | $ | 1,437 |  | $ | (7,908) |  | $ | 11,226
Interest expense (income), net (2) |  |  | 7,121 |  |  | 560 |  |  | (355) |  |  | 3,294 |  |  | 10,620
Income taxes |  |  | — |  |  | 499 |  |  | 674 |  |  | 1,420 |  |  | 2,593
Depreciation and amortization |  |  | 4,699 |  |  | 1,217 |  |  | 760 |  |  | 108 |  |  | 6,784
Net earnings attributable to non-controlling interests |  |  | — |  |  | 435 |  |  | 718 |  |  | — |  |  | 1,153
Non-cash stock-based compensation |  |  | — |  |  | — |  |  | — |  |  | 986 |  |  | 986
Gain on foreign currency transactions, cost recovery income and other |  |  | — |  |  | (57) |  |  | (232) |  |  | (24) |  |  | (313)
Loss on disposition of fixed assets |  |  | — |  |  | 4 |  |  | 3 |  |  | — |  |  | 7
Adjusted EBITDA |  | $ | 24,209 |  | $ | 7,966 |  | $ | 3,005 |  | $ | (2,124) |  | $ | 33,056
(1)Net operating revenue for Corporate and Other primarily related to the Company’s consulting agreements. (2)Expense of $7.1 million related to the Master Lease is included in interest expense (income), net in the United States segment. Expense of $0.5 million related to the CDR land lease is included in interest expense (income), net in the Canada segment. Cash payments related to the Master Lease and CDR land lease were $6.3 million and $0.4 million, respectively, for the period presented.
| For the three months ended September 30, 2020
Amounts in thousands |  |  | United States |  |  | Canada |  |  | Poland |  |  | Corporate and Other |  |  | Total
Net operating revenue (1) |  | $ | 62,647 |  | $ | 16,577 |  | $ | 16,339 |  | $ | 143 |  | $ | 95,706
Earnings (loss) before income taxes |  | $ | 7,656 |  | $ | 2,514 |  | $ | 252 |  | $ | (6,038) |  | $ | 4,384
Net earnings (loss) attributable to Century Casinos, Inc. shareholders |  | $ | 7,656 |  | $ | 1,880 |  | $ | 86 |  | $ | (5,874) |  | $ | 3,748
Interest expense (income), net (2) |  |  | 7,051 |  |  | 525 |  |  | 6 |  |  | 3,005 |  |  | 10,587
Income taxes (benefit) |  |  | — |  |  | 469 |  |  | 123 |  |  | (164) |  |  | 428
Depreciation and amortization |  |  | 4,506 |  |  | 1,345 |  |  | 777 |  |  | 196 |  |  | 6,824
Net earnings attributable to non-controlling interests |  |  | — |  |  | 165 |  |  | 43 |  |  | — |  |  | 208
Non-cash stock-based compensation |  |  | — |  |  | — |  |  | — |  |  | 354 |  |  | 354
Loss (gain) on foreign currency transactions and cost recovery income |  |  | — |  |  | 30 |  |  | (56) |  |  | 69 |  |  | 43
Loss on disposition of fixed assets |  |  | 9 |  |  | 11 |  |  | 2 |  |  | — |  |  | 22
Adjusted EBITDA |  | $ | 19,222 |  | $ | 4,425 |  | $ | 981 |  | $ | (2,414) |  | $ | 22,214
(1)Net operating revenue for Corporate and Other primarily related to the Company’s cruise ship operations and consulting agreements. (2)Expense of $7.1 million related to the Master Lease is included in interest expense (income), net in the United States segment. Expense of $0.4 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 $6.2 million and $0.4 million, respectively, for the period presented. ‎
| For the nine months ended September 30, 2021
Amounts in thousands |  |  | United States |  |  | Canada |  |  | Poland |  |  | Corporate and Other |  |  | Total
Net operating revenue (1) |  | $ | 214,969 |  | $ | 30,031 |  | $ | 35,751 |  | $ | 456 |  | $ | 281,207
Earnings (loss) before income taxes |  | $ | 39,486 |  | $ | 1,728 |  | $ | (2,364) |  | $ | (18,289) |  | $ | 20,561
Net earnings (loss) attributable to Century Casinos, Inc. shareholders |  | $ | 39,486 |  | $ | 265 |  | $ | (1,432) |  | $ | (21,657) |  | $ | 16,662
Interest expense (income), net (2) |  |  | 21,083 |  |  | 1,263 |  |  | (341) |  |  | 9,825 |  |  | 31,830
Income taxes (benefit) |  |  | — |  |  | 661 |  |  | (216) |  |  | 3,368 |  |  | 3,813
Depreciation and amortization |  |  | 13,734 |  |  | 3,689 |  |  | 2,320 |  |  | 317 |  |  | 20,060
Net earnings (loss) attributable to non-controlling interests |  |  | — |  |  | 802 |  |  | (716) |  |  | — |  |  | 86
Non-cash stock-based compensation |  |  | — |  |  | — |  |  | — |  |  | 1,568 |  |  | 1,568
Gain on foreign currency transactions, cost recovery income and other |  |  | — |  |  | (604) |  |  | (221) |  |  | (436) |  |  | (1,261)
Loss (gain) on disposition of fixed assets |  |  | 282 |  |  | 36 |  |  | 3 |  |  | (39) |  |  | 282
Adjusted EBITDA |  | $ | 74,585 |  | $ | 6,112 |  | $ | (603) |  | $ | (7,054) |  | $ | 73,040
(1)Net operating revenue for Corporate and Other primarily related to the Company’s cruise ship operations and consulting agreements. (2)Expense of $21.1 million related to the Master Lease is included in interest expense (income), net in the United States segment. Expense of $1.2 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 $16.8 million and $1.3 million, respectively, for the period presented. ‎
| For the nine months ended September 30, 2020
Amounts in thousands |  |  | United States |  |  | Canada |  |  | Poland |  |  | Corporate and Other |  |  | Total
Net operating revenue (1) |  | $ | 139,908 |  | $ | 37,479 |  | $ | 40,793 |  | $ | 1,286 |  | $ | 219,466
Loss before income taxes |  | $ | (34,976) |  | $ | (1,444) |  | $ | (1,822) |  | $ | (13,126) |  | $ | (51,368)
Net loss attributable to Century Casinos, Inc. shareholders |  | $ | (35,999) |  | $ | (4,102) |  | $ | (1,134) |  | $ | (13,480) |  | $ | (54,715)
Interest expense (income), net (2) |  |  | 21,286 |  |  | 1,504 |  |  | 23 |  |  | 9,719 |  |  | 32,532
Income taxes (benefit) |  |  | 1,023 |  |  | 2,281 |  |  | (123) |  |  | 354 |  |  | 3,535
Depreciation and amortization |  |  | 13,008 |  |  | 3,973 |  |  | 2,279 |  |  | 463 |  |  | 19,723
Net earnings (loss) attributable to non-controlling interests |  |  | — |  |  | 377 |  |  | (565) |  |  | — |  |  | (188)
Non-cash stock-based compensation |  |  | — |  |  | — |  |  | — |  |  | 589 |  |  | 589
Loss (gain) on foreign currency transactions and cost recovery income |  |  | — |  |  | 101 |  |  | 91 |  |  | (6,976) |  |  | (6,784)
Impairment - intangible and tangible assets (3) |  |  | 30,746 |  |  | 3,375 |  |  | — |  |  | 1,000 |  |  | 35,121
Loss (gain) on disposition of fixed assets |  |  | 9 |  |  | (58) |  |  | 4 |  |  | 2 |  |  | (43)
Acquisition costs |  |  | — |  |  | — |  |  | — |  |  | 266 |  |  | 266
Adjusted EBITDA |  | $ | 30,073 |  | $ | 7,451 |  | $ | 575 |  | $ | (8,063) |  | $ | 30,036
(1)Net operating revenue for Corporate and Other primarily related to CCB, the Company’s cruise ship operations and consulting agreements. (2)Expense of $21.3 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 $16.7 million and $1.3 million, respectively, for the period presented. (3)Expense of $30.7 million and $3.4 million is included in the United States and Canada segments, respectively, related to the impairment of goodwill and intangible assets (see Note 4). Expense of $1.0 million is included in the Corporate and Other segment related to the impairment of the MCE investment (see Note 3).

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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