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Century Casinos

#9597

Rank

$42.68M

Marketcap

US United States

Country

Century Casinos
Leadership team

Dr. Erwin Haitzmann (Chairman & Co-CEO)

Mr. Peter Hoetzinger (Vice Chairman, Co-CEO & Pres)

Ms. Margaret Stapleton (CFO & Corp. Sec.)

Products/ Services
Gaming
Number of Employees
1,000 - 20,000
Headquarters
Colorado Springs, Colorado, United States
Established
1992
Company Registration
SEC CIK number: 0000911147
Net Income
20M - 100M
Revenue
100M - 500M
Traded as
CNTY
Overview
Location
Summary
Century Casinos, Inc. operates as a casino entertainment company in the United States, Canada, and Poland. The company develops and operates gaming establishments, as well as related lodging, restaurant, horse racing, and entertainment facilities. As of March 8, 2022, it operated two ship-based casinos. The company was founded in 1992 and is based in Colorado Springs, Colorado.
History

Century Casinos was formed in 1992 by several executives of Casinos Austria.In early 1993, the company signed on to manage a proposed riverboat casino in St. Charles Parish, Louisiana. The proposal was blocked, however, by parish officials. The casino's developer bought out Century's management agreement in 1995 for $4 million, and relocated the project, which eventually opened as Isle of Capri Casino Lake Charles.In Indiana, which had recently legalized riverboat casinos, Century revealed two proposals in September 1993: one casino to be built in Gary in partnership with local investors, and another to be built in Vevay. Within months, the company dropped its plans for Gary, to focus on the Vevay project. Hospitality Franchise Systems joined the project as a joint venture partner in 1994. In 1995, with the license application, still pending, Century and HFS sold the Vevay project to a partnership between Boomtown and Hilton. The project ultimately opened in 2000 as Belterra Casino, and Century received a total of $2.9 million for the sale.Century merged in March 1994 with Alpine Gaming, parent company of the Long Branch Saloon & Casino in Cripple Creek, Colorado. The casino was then renamed as Legends. Century then purchased the adjacent Womack's Saloon & Gaming Parlor in 1996 for $13.5 million. The combined property would take on the Century Casino name in 2010.Century's cruise ship casino business began in April 1994, when it began operating the casino on the Silver Cloud under a concession agreement with Silversea Cruises.In November 1994, the company submitted an application to build a casino in Portage des Sioux, Missouri. The application languished amid an informal moratorium on the issuance of new gaming licenses by the Missouri Gaming Commission. Century's development agreement with the city eventually expired.In January 1995, Century opened the Legends Casino at the Soboba Reservation, a tribal-owned bingo parlor and cardroom in Southern California. The company pulled out of its management agreement for the facility seven months later.In August 1995, the company proposed to build a casino in Alexandria, Louisiana. The Louisiana Riverboat Gaming Commission, however, did not award the one available casino license to Century, instead selecting the application for Horseshoe Bossier City.In November 1995, Century signed a $1.1-million deal to manage a casino planned for the Greek island of Rhodes, being developed by a consortium including Playboy Enterprises. The company turned over its duties to Playboy before the casino opened.Century moved its headquarters from Denver to Colorado Springs in 1996, to be closer to its casino properties in Cripple Creek.The company announced an agreement in 1998 to manage and co-own a casino to be built in a Marriott hotel in Prague. The Millennium Casino opened the following year.In 2000, Century was awarded a license for a casino in Caledon, South Africa, which it would manage and co-own. The Caledon Casino, Hotel & Spa opened later that year. In 2001, Century agreed to co-develop another casino in South Africa, to be built in the province of Gauteng.In 2006, the company opened a Century Casino & Hotel in Central City, Colorado and another property by the same name in Edmonton, Alberta. Century also shuffled its holdings in South Africa, acquiring a majority stake in the Monte Vista Casino in Newcastle and selling its interest in the Gauteng casino project.In 2007, the company paid $8.7 million to acquire a 33 percent stake in Casinos Poland. Century increased its stake to 67 percent in April 2013.In 2009, Century sold its casinos in Prague and South Africa.Century assumed the management of a casino at a Radisson hotel in Aruba in 2010. The management agreement ended in 2017.Century purchased the Silver Dollar Casino in Calgary, Alberta in 2010 for $10.5 million, and then rebranded it as Century Casino Calgary. Next, the company financed the development of the Century Downs Racetrack and Casino near Calgary, which it also managed from its opening in 2015. In October 2016, Century acquired the Apex Casino in St. Albert for $12.3 million, and then renamed it as Century Casino St. Albert. The expansion in Alberta continued in April 2019, when the company opened the Century Mile Racetrack and Casino in the Edmonton area.The company made moves to expand into two new markets in 2017. In England, it purchased a small casino being developed in the city of Bath. In Bermuda, it signed on to manage a planned casino at the Hamilton Princess hotel. The Bath casino opened in May 2018. It closed in 2020 because of poor financial results and changes in British casino regulations.In 2019, Century bought the operating businesses of three casinos in Missouri and West Virginia from Eldorado Resorts for $107 million. Vici Properties acquired the real estate of the casinos at the same time, and leased them to Century for $25 million per year. The acquisition more than doubled Century's annual revenue. The Isle and Lady Luck casinos were then rebranded under the Century name.

In 2021, Century announced that the company will partner with British online Sports gambling company Bet365 to launch sports betting operations in the state of Colorado.In 2022, Century agreed to purchase a controlling stake in the Nugget Casino Resort in Northern Nevada from Marnell Gaming for $195 million.

Mission
In order to achieve this goal, we strive to grow our business world-wide and look to continue our financial success by: Offering our guests excellent customer service and the latest exciting casino entertainment, Focusing on employee development and creating a positive work environment, Adding value to the local communities through responsible operations, employment and development of business associate relationships, And actively pursuing the development of new gaming opportunities and reinvesting in the success of our existing operations.
Vision
Century Casinos‘ goal and vision is to become the leading company in the mid-size casino market world-wide.
Key Team

Mr. Geoffrey Donald-Cumming Smith (Sr. VP of Operations - Alberta)

Mr. Timothy Wright (Chief Accounting Officer & Corp. Controller)

Mr. Andreas Terler (Exec. VP of Operations ? United States)

Mr. Nikolaus Strohriegel (Exec. VP of Operations - Canada & Europe)

Nicholas Muscari (Chief Information Officer)

William Beaumont (VP of HR)

Recognition and Awards
Century Casinos has been an annual recipient of the Forbes 'America's Best Small Companies' Award since 2004 and its stock is listed on the Nasdaq Exchange and the Toronto Stock Exchange.
References

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Century Casinos
Leadership team

Dr. Erwin Haitzmann (Chairman & Co-CEO)

Mr. Peter Hoetzinger (Vice Chairman, Co-CEO & Pres)

Ms. Margaret Stapleton (CFO & Corp. Sec.)

Products/ Services
Gaming
Number of Employees
1,000 - 20,000
Headquarters
Colorado Springs, Colorado, United States
Established
1992
Company Registration
SEC CIK number: 0000911147
Net Income
20M - 100M
Revenue
100M - 500M
Traded as
CNTY