Century Casinos opened 2025 with a quieter quarter, showing a dip in revenue and earnings, but executives remain optimistic about cost controls, new venues, and international expansion. Despite some early headwinds, the company looks to rebound in the coming months with less spending and improved cash flow.
Good to know
- Century Casinos reported Q1 2025 revenue of $130.4 million, down 4%.
- Adjusted EBITDAR fell 5% year-over-year to $20.2 million.
- A second casino license in Wroclaw, Poland, was secured in March.
Net operating revenue came in at $130.4 million in the first quarter of 2025, marking a 4% decline from the same period in 2024. Earnings from operations dropped even further, down 14% year-over-year to $7.1 million.
The decline was partly due to weather disruptions across North America, the loss of one operating day compared to Q1 2024, and the end of high-margin sports betting revenue in Colorado.
Still, the company held its adjusted EBITDAR margin steady, thanks largely to cost-cutting strategies—especially at the Nugget, which performed better than expected for what is typically a tough quarter.
Co-CEOs Erwin Haitzmann and Peter Hoetzinger addressed the results in a joint statement:
“We were able to maintain the Adjusted EBITDAR margin from the first quarter of 2024 despite decreased revenue from weather impacts throughout North America, one fewer operating day compared to 2024 and the loss of high margin sports betting revenue in Colorado. This is due primarily to successful cost cutting strategies at the Nugget, which generated positive Adjusted EBITDAR in what typically is the most challenging quarter for the property.”
Caruthersville launch and capex outlook
Century Casinos also highlighted early results from its new property in Caruthersville, Missouri. Opened in November 2024, the casino is showing positive traction, according to leadership.
The company expects to cut back on capital spending throughout the rest of 2025. Much of the heavy investment took place in Q1 to wrap up ongoing projects. With fewer expenses planned, the firm anticipates a stronger cash position going forward.
“We expect quarterly capital expenditures to decrease for the remainder of 2025 as we spent proportionally more in the first quarter,” they said.
“With overall capital expenditures substantially lower in 2025 due to the completion of our capital projects and properties such as Caruthersville open and operating, we anticipate cash generation and our cash position to improve during the remainder of 2025 and into 2026.”
Poland expansion still on track
In March, Century Casinos secured a second license for a new casino in Wroclaw, Poland. The company plans to launch the venue in the fourth quarter of 2025. This expansion adds to its existing European footprint and reflects its ongoing focus on international growth.
The post Century Casinos Q1 Revenue Drops to $130.4 Million With Margin Held appeared first on iGaming.org.