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v3.23.3

Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2023
Segment Information [Abstract] |
Schedule Of Information By Reportable Segment |
| For the three months ended September 30, 2023
Amounts in thousands |  |  | United States |  |  | Canada |  |  | Poland |  |  | Corporate and Other |  |  | Total
Net operating revenue |  | $ | 116,861 |  | $ | 20,921 |  | $ | 23,397 |  | $ | — |  | $ | 161,179
Earnings (loss) before income taxes |  |  | 7,861 |  |  | (6,586) |  |  | 1,558 |  |  | (19,367) |  |  | (16,534)
Net earnings (loss) attributable to Century Casinos, Inc. shareholders |  | $ | 5,273 |  | $ | (1,730) |  | $ | 788 |  | $ | (18,506) |  | $ | (14,175)
Interest expense (income), net (1) |  |  | 11,951 |  |  | 8,706 |  |  | (74) |  |  | 10,785 |  |  | 31,368
Income taxes (benefit) |  |  | 818 |  |  | (3,403) |  |  | 378 |  |  | (861) |  |  | (3,068)
Depreciation and amortization |  |  | 10,706 |  |  | 1,102 |  |  | 653 |  |  | 57 |  |  | 12,518
Net earnings (loss) attributable to non-controlling interests |  |  | 1,770 |  |  | (1,453) |  |  | 392 |  |  | — |  |  | 709
Non-cash stock-based compensation |  |  | — |  |  | — |  |  | — |  |  | 1,082 |  |  | 1,082
(Gain) loss on foreign currency transactions, cost recovery income and other (2) |  |  | (85) |  |  | 1,484 |  |  | (213) |  |  | (46) |  |  | 1,140
Loss on disposition of fixed assets |  |  | 56 |  |  | — |  |  | 24 |  |  | — |  |  | 80
Acquisition costs |  |  | — |  |  | — |  |  | — |  |  | 3,693 |  |  | 3,693
Adjusted EBITDA |  | $ | 30,489 |  | $ | 4,706 |  | $ | 1,948 |  | $ | (3,796) |  | $ | 33,347
(1)Included in interest expense (income), net is interest expense of $12.0 million and $0.9 million related to the Master Lease in the United States and Canada segments, respectively, and interest expense of $0.4 million related to the CDR land lease and $7.3 million related to the debt extinguishment of the CDR land lease in the Canada segment. Cash payments related to the Master Lease and CDR land lease were $11.9 million and $0.3 million, respectively, for the period presented. The CDR land lease ended on September 6, 2023 in conjunction with the Canada Real Estate Sale. (2)Included in the Canada segment is $0.3 million related to the earn out from the sale of casino operations in Calgary in 2020.
| For the three months ended September 30, 2022
Amounts in thousands |  |  | United States |  |  | Canada |  |  | Poland |  |  | Corporate and Other |  |  | Total
Net operating revenue (1) |  | $ | 70,718 |  | $ | 20,065 |  | $ | 21,733 |  | $ | 36 |  | $ | 112,552
Earnings from equity investment |  |  | — |  |  | — |  |  | — |  |  | 1,071 |  |  | 1,071
Earnings (loss) before income taxes |  |  | 9,139 |  |  | 3,395 |  |  | 3,513 |  |  | (10,982) |  |  | 5,065
Net earnings (loss) attributable to Century Casinos, Inc. shareholders |  | $ | 2,372 |  | $ | 2,623 |  | $ | 2,032 |  | $ | (4,083) |  | $ | 2,944
Interest expense (income), net (2) |  |  | 7,201 |  |  | 581 |  |  | (519) |  |  | 8,087 |  |  | 15,350
Income taxes (benefit) |  |  | 6,767 |  |  | 522 |  |  | 465 |  |  | (6,899) |  |  | 855
Depreciation and amortization |  |  | 4,892 |  |  | 1,180 |  |  | 623 |  |  | 81 |  |  | 6,776
Net earnings attributable to non-controlling interests |  |  | — |  |  | 250 |  |  | 1,016 |  |  | — |  |  | 1,266
Non-cash stock-based compensation |  |  | — |  |  | — |  |  | — |  |  | 953 |  |  | 953
Gain on foreign currency transactions and cost recovery income |  |  | — |  |  | (71) |  |  | (333) |  |  | (5) |  |  | (409)
Loss on disposition of fixed assets |  |  | 11 |  |  | — |  |  | 27 |  |  | — |  |  | 38
Acquisition costs |  |  | — |  |  | — |  |  | — |  |  | 295 |  |  | 295
Adjusted EBITDA |  | $ | 21,243 |  | $ | 5,085 |  | $ | 3,311 |  | $ | (1,571) |  | $ | 28,068
(1)Net operating revenue for Corporate and Other primarily related to the Company’s cruise ship operations, which ceased in April 2023. (2)Included in interest expense (income), net is interest expense of $7.2 million related to the Master Lease in the United States segment and interest expense of $0.6 million related to the CDR land lease in the Canada segment. Cash payments related to the Master Lease and CDR land lease were $8.5 million and $0.5 million, respectively, for the period presented. The CDR land lease ended on September 6, 2023 in conjunction with the Canada Real Estate Sale.
| For the nine months ended September 30, 2023
Amounts in thousands |  |  | United States |  |  | Canada |  |  | Poland |  |  | Corporate and Other |  |  | Total
Net operating revenue (1) |  | $ | 277,636 |  | $ | 56,262 |  | $ | 72,489 |  | $ | 61 |  | $ | 406,448
Earnings from equity investment |  |  | — |  |  | — |  |  | — |  |  | 1,121 |  |  | 1,121
Earnings (loss) before income taxes |  |  | 25,244 |  |  | 4,453 |  |  | 5,995 |  |  | (47,113) |  |  | (11,421)
Net earnings (loss) attributable to Century Casinos, Inc. shareholders |  | $ | 17,026 |  | $ | 2,865 |  | $ | 3,066 |  | $ | (40,334) |  | $ | (17,377)
Interest expense (income), net (2) |  |  | 26,370 |  |  | 9,776 |  |  | (285) |  |  | 31,238 |  |  | 67,099
Income taxes (benefit) |  |  | 4,656 |  |  | (624) |  |  | 1,398 |  |  | (6,779) |  |  | (1,349)
Depreciation and amortization |  |  | 24,065 |  |  | 3,374 |  |  | 1,948 |  |  | 175 |  |  | 29,562
Net earnings attributable to non-controlling interests |  |  | 3,562 |  |  | 2,212 |  |  | 1,531 |  |  | — |  |  | 7,305
Non-cash stock-based compensation |  |  | — |  |  | — |  |  | — |  |  | 2,746 |  |  | 2,746
Gain on foreign currency transactions, cost recovery income and other (3) |  |  | (85) |  |  | (3,228) |  |  | (572) |  |  | (42) |  |  | (3,927)
Loss on disposition of fixed assets |  |  | 492 |  |  | 5 |  |  | 25 |  |  | 4 |  |  | 526
Acquisition costs |  |  | — |  |  | — |  |  | — |  |  | 4,101 |  |  | 4,101
Adjusted EBITDA |  | $ | 76,086 |  | $ | 14,380 |  | $ | 7,111 |  | $ | (8,891) |  | $ | 88,686
(1)Net operating revenue for Corporate and Other primarily related to the Company’s cruise ship operations, which ceased in April 2023. (2)Included in interest expense (income), net is interest expense of $26.4 million and $0.9 million related to the Master Lease in the United States and Canada segments, respectively, and interest expense of $1.4 million related to the CDR land lease and $7.3 million related to the debt extinguishment of the CDR land lease in the Canada segment. Cash payments related to the Master Lease and CDR land lease were $25.7 million and $1.3 million, respectively, for the period presented. The CDR land lease ended on September 6, 2023 in conjunction with the Canada Real Estate Sale. (3)Included in the Canada segment is $1.6 million related to the earn out from the sale of casino operations in Calgary in 2020 and cost recovery income for CDR. ‎
| For the nine months ended September 30, 2022
Amounts in thousands |  |  | United States |  |  | Canada |  |  | Poland |  |  | Corporate and Other |  |  | Total
Net operating revenue (1) |  | $ | 206,275 |  | $ | 55,105 |  | $ | 65,265 |  | $ | 131 |  | $ | 326,776
Earnings from equity investment |  |  | — |  |  | — |  |  | — |  |  | 2,134 |  |  | 2,134
Earnings (loss) before income taxes |  |  | 28,176 |  |  | 9,123 |  |  | 7,967 |  |  | (36,626) |  |  | 8,640
Net earnings (loss) attributable to Century Casinos, Inc. shareholders |  | $ | 21,409 |  | $ | 4,797 |  | $ | 4,285 |  | $ | (18,473) |  | $ | 12,018
Interest expense (income), net (2) |  |  | 21,310 |  |  | 1,733 |  |  | (586) |  |  | 25,482 |  |  | 47,939
Income taxes (benefit) |  |  | 6,767 |  |  | 1,718 |  |  | 1,538 |  |  | (18,153) |  |  | (8,130)
Depreciation and amortization |  |  | 14,418 |  |  | 3,632 |  |  | 1,979 |  |  | 321 |  |  | 20,350
Net earnings attributable to non-controlling interests |  |  | — |  |  | 2,608 |  |  | 2,144 |  |  | — |  |  | 4,752
Non-cash stock-based compensation |  |  | — |  |  | — |  |  | — |  |  | 2,638 |  |  | 2,638
(Gain) loss on foreign currency transactions, cost recovery income and other (3) |  |  | (1) |  |  | 138 |  |  | (712) |  |  | (8) |  |  | (583)
Loss (gain) on disposition of fixed assets |  |  | 33 |  |  | 23 |  |  | 31 |  |  | (124) |  |  | (37)
Acquisition costs |  |  | — |  |  | — |  |  | — |  |  | 2,724 |  |  | 2,724
Adjusted EBITDA |  | $ | 63,936 |  | $ | 14,649 |  | $ | 8,679 |  | $ | (5,593) |  | $ | 81,671
(1)Net operating revenue for Corporate and Other primarily related to the Company’s cruise ship operations and consulting agreements, which ceased in April 2023. (2)Included in interest expense (income), net is interest expense of $21.3 million related to the Master Lease in the United States segment, interest expense of $1.7 million related to the CDR land lease in the Canada segment, and interest expense of $7.3 million related to the write-off of deferred financing costs in connection with the prepayment of the Macquarie Term Loan in the Corporate and Other segment. Cash payments related to the Master Lease and CDR land lease were $19.1 million and $1.6 million, respectively, for the period presented. The CDR land lease ended on September 6, 2023 in conjunction with the Canada Real Estate Sale. (3)Loss of $2.2 million related to the sale of the land and building in Calgary is included in the Canada segment.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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