Century Casinos has reported a slight increase in its net operating revenue for the second quarter of 2026, reaching $152.0 million. This 1% growth was driven by robust performances in its operations located in the U.S. West and Midwest, which helped to counterbalance a significant downturn in Poland.
Operational earnings rose by 4%, totaling $17.2 million, while Adjusted EBITDAR saw a 5% increase, amounting to $31.7 million. The net loss attributable to shareholders decreased by 11%, narrowing to $10.9 million from $12.3 million a year prior, resulting in a loss per share of $0.39 compared to $0.40.
The U.S. West segment experienced the highest revenue growth, climbing 16% to $23.4 million, with Adjusted EBITDAR soaring by 93% to $4.5 million. The segment's net loss also improved significantly, reducing by 75% to $0.7 million, largely credited to the performance of the Nugget casino in Sparks, Nevada.
In the U.S. Midwest, which includes properties in Missouri and Colorado, revenue increased by 8% to $44.7 million, with Adjusted EBITDAR also rising by 8% to $16.7 million. Meanwhile, revenue from Canada grew by 2% to $20.4 million, whereas revenue from the U.S. East fell by 2% to $43.6 million.
Poland remained a significant challenge, with revenues plummeting by 19% to $19.9 million and Adjusted EBITDAR dropping 97% to just $52,000. Century attributed these declines partly to low table-game hold in June and the closure of its Warsaw casino in June 2025.
“Poland spoiled the party a bit,” commented Century Casinos President Peter Hoetzinger during the earnings call, although he characterized the overall quarter as “a strong solid quarter.”
Management noted that North America contributed to 90% of the company’s total results, with Hoetzinger emphasizing the “tremendous performance” at the Nugget and improvements in Missouri and Colorado. “We benefited from growth across all retail customers,” he added, “despite higher gas prices.”
For the first half of 2026, consolidated revenue rose by 3% to $289.2 million, while operational earnings surged by 22% to $28.9 million. Adjusted EBITDAR increased by 12% to $56.6 million, and the net loss attributable to shareholders decreased by 17% to $27.4 million.
At the end of June, Century had $60.2 million in cash and cash equivalents, down from $68.9 million at the close of 2025. The company’s outstanding debt was recorded at $336.5 million, a slight reduction from $337.7 million as of December 31.
In Alberta, Chairman Erwin Haitzmann noted that all four Century casinos showed improved results. Hoetzinger also mentioned the potential sale of the Alberta properties, either collectively or as separate casino and racino groups, with a possible announcement by the end of 2026.
Despite ongoing challenges, management observed signs of stabilization in Poland. “This is a year of harvesting for us,” Hoetzinger stated. “We’re actually feeling really good about the rest of the year,” including prospects in Poland. He anticipates that Century’s debt will decrease to six times cash flow by year-end, with no debt maturities due for the next three years.