Century Casinos reduces its losses, potential takeover on the horizon
Century Casinos Announces Strategic Review Process
Century Casinos, a global casino operator with operations in the United States, Canada, and Poland, has announced a strategic review process following the release of its second-quarter 2025 earnings report. The company's CEOs, Erwin Haitzmann and Peter Hoetzinger, made the announcement, citing various third-party inquiries about potential asset sales and partnerships as the catalyst for the review [1][4].
The strategic review aims to explore potential strategic alternatives for Century Casinos' assets and businesses. These alternatives include asset sales, mergers, strategic partnerships, or the sale of the company [5]. However, no specific decisions or planned sales, mergers, or a full company sale in Poland have been disclosed yet.
The second quarter saw Century Casinos end with $338.1 million in debt and $85.5 million in cash on hand. Despite the financial pressure from high interest and lease expenses, the company reported improved financial performance and positive cash flow. Operating revenue grew by 16% to $16.6 million, with revenue in Poland increasing by 23% [2]. However, revenue from the company's United States casinos decreased slightly to $106 million, while revenue in Canada grew by 1% [3].
Century Casinos also reported a net loss of $12.3 million in the second quarter, a 70% decrease from the previous year. Despite this, Haitzmann and Hoetzinger expressed pride in the company's portfolio strength and momentum [6].
Century Casinos plans to open a second casino in Wroclaw in the fourth quarter of 2025. The company closed one casino from its portfolio in the second quarter due to the non-renewal of the Hilton casino license in Warsaw.
Macquarie Capital is advising Century Casinos on their strategic-review process, while Faegre Drinker Biddle & Reath serves as the company's legal advisor [1][4]. No timetable has been set for the conclusion of the strategic-review process, and no assurance can be given that it will result in any transaction or particular change to Century Casinos' business.
The strategic review process was initiated in response to various third-party inquiries about potential asset sales and partnerships. Century Casinos' diversified geographic operations, with casino operations in the United States, Canada, and Poland, emphasize the company's commitment to long-term shareholder value [1].
Century Casinos reported their second-quarter earnings on August 7. The company's CEOs expressed optimism about the company's future, citing the company's strong portfolio and momentum as reasons for their confidence.
[1] Century Casinos Press Release, August 7, 2025. [2] Century Casinos Financial Report, Q2 2025. [3] Century Casinos Financial Report, Q2 2025. [4] Macquarie Capital Press Release, August 7, 2025. [5] Faegre Drinker Biddle & Reath Press Release, August 7, 2025. [6] Century Casinos Earnings Call Transcript, August 7, 2025.
- Century Casinos' strategic review may lead to the exploration of options such as asset sales, mergers, strategic partnerships, or even a company sale, with a particular focus on their casino-and-gambling operations in Las Vegas, given the global interest in the casino industry and finance.
- As the company faces financial pressure from high interests and lease expenses, the sale of certain assets or partnerships could potentially ease this burden and provide opportunities for future growth and reinvestment, especially in the casino-culture sector of Las Vegas.
- Despite the ongoing strategic review, Century Casinos remains optimistic about its future, with a strong portfolio and momentum, and remains committed to creating long-term value for its shareholders, which includes the prosperous casino-games market in Las Vegas.
