Century Casinos Exempted From Benefiting Financially Following Trump's Tax Reduction
Century Casinos, the international gaming company, has reported a mixed bag of results for the second quarter of 2025. While the company experienced growth in several of its properties, it also faced challenges in others and initiated a strategic review process.
In Missouri, Century Casinos' Cape Girardeau property saw a significant increase in revenue and cash flow. The gambling win per comped guest was $556, and the average daily rate at the hotel was $151 per night. Half of the patronage at the property comes from Tennessee, with Missouri and Arkansas making up the rest.
However, the company's Central City, Colorado, property experienced a flat quarterly cash flow due to higher gaming and property taxes. In a surprising move, Century Casinos closed its Warsaw Hilton casino in Poland after not receiving a new license for a second Warsaw casino. Despite this, the company was awarded a second license in Wroclaw, where it plans to open a casino in Q4 2025, partially offsetting the Warsaw closure.
Century Casinos' strategic review aims to optimise the portfolio and enhance shareholder value, which may include consideration of asset sales but does not specifically confirm an exit from Poland. The company is also planning to execute a letter of intent with an Eastern European buyer for their casino in Wroclaw.
Elsewhere in the United States, Century Casinos' Caruthersville property in Missouri had a 26% increase in revenue in the first half of 2025, with a 31% increase in cash flow in the second quarter. Rocky Gap Resort in rural Maryland was challenged by significant weather events but saw a nine percent increase in revenue from slot machines in June.
In West Virginia, the Mountaineer Casino had an excellent quarter with a three percent revenue boost from igaming and a 12 percent increase in cash flow. The Sparks Nugget, on the other hand, experienced a slump in cash flow due to poor ticket sales at outdoor events, but Century is confident in reaching previous convention booking levels.
Century Casinos' small hotel in the location of the Chamonix resort saw full occupancy on weekends. The new hotel at Century's Cape Girardeau property doubled its revenue in the second quarter, with food and beverage jumping 31%.
Century Casinos exited the quarter with a 6.2-times debt-to-cash flow ratio and no debt maturities until 2029. No further capital expenditure investments are planned by the company.
Century Casinos' co-CEO Hoetzinger is cautiously optimistic about the return of lower-value players. The company is also seeing an uptick at their Canadian casinos, with more customers from 75 to 90 miles away and six percent higher coin-in. Century Casinos' customer base in Caruthersville is growing by double digits, with 41% coming from beyond 75 miles from the casino.
In Cripple Creek, Colorado, Century Casinos had an "excellent second quarter" with $1.9 million cash flow, aided by the banishment of live table games and the popularity of electronic table play. Nugget retail rooms were 32 percent higher priced in August, and the marketing department rolled out a new loyalty program and player initiatives.
Despite setting all-time records for revenue and cash flow, Century Casinos posted a loss for the quarter. The company anticipates no cash infusion from corporate tax cuts passed by the U.S. Congress.
In summary, Century Casinos continues to invest in Poland with new developments in Wroclaw while closing one Warsaw location due to licensing issues. The company's strategic review might consider various options, including asset sales, but no definitive plan to exit the Polish market has been disclosed as of Q2 2025.
- Century Casinos' gambling operations in the United States, such as the Caruthersville property in Missouri and the Rocky Gap Resort in Maryland, have shown promising results, with the Caruthersville property achieving a 26% increase in revenue and a 31% increase in cash flow in the first half of 2025.
- Amidst the mixed financial performance, Century Casinos' business expansion in Poland persists, with plans to open a new casino in Wroclaw, offsetting the closure of the Warsaw Hilton casino, despite not receiving a new license for a second Warsaw casino.
