Century Casinos, Inc. Announces Fourth Quarter 2014 Results

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Mar 16, 2015, 08:20 ET

COLORADO SPRINGS, Colo., March 16, 2015 /PRNewswire/ -- Century Casinos, Inc. (NASDAQ Capital Market® : CNTY) today announced its financial results for the three months and year ended December 31, 2014.

2014 Highlights*

Net operating revenue was $120.1 million, a 15% increase from the year ended December 31, 2013.
Adjusted EBITDA** was $12.9 million, a 1% increase from the year ended December 31, 2013.
Net earnings attributable to Century Casinos, Inc. shareholders were $1.2 million, an 80% decrease from the year ended December 31, 2013.
Earnings per share were $0.05.
Book value per share *** at December 31, 2014 was $4.86.

Fourth Quarter 2014 Highlights*

Net operating revenue was $31.3 million, a 6% increase from the three months ended December 31, 2013.
Adjusted EBITDA** was $4.0 million, an 82% increase from the three months ended December 31, 2013.
Net losses attributable to Century Casinos, Inc. shareholders were $0.2 million, a 9% decrease from the three months ended December 31, 2013.
Losses per share were $0.01.

In December 2014, we announced that we will form a new 75%-owned subsidiary, Century Bets! Inc. ("CBS"), to operate the pari-mutuel off-track betting network in Southern Alberta, Canada. Horse Racing Alberta has awarded CBS a license to operate this network, and the Company anticipates that CBS will begin operating this network in the second quarter of 2015.

In October 2014, a subsidiary of the Company invested $1 million in an Argentina company that leases slot machines and provides related services to Mendoza Casino, a casino located in Mendoza, Argentina that is owned by the Province of Mendoza. The Company's subsidiary, which also will receive a fee for providing consulting services to the venture, owns 7.5% of the company and has a three year option to purchase up to 50% of the company.


Amounts in thousands, except per share data	For the Three Months Ended December 31,							For the Year Ended December 31,
Consolidated Results:			2014		2013	% Change				2014		2013	% Change
Net operating revenue		$	31,259	$	29,424		6%		$	120,048	$	104,588		15%
Earnings from operations			639		(16)		4094%			2,657		5,483		(52%)
Net earnings			(230)		(211)		(9%)			1,232		6,181		(77%)

Adjusted EBITDA**		$	3,975	$	2,189		82%		$	12,850	$	12,685		1%

Earnings per share:
Basic		$	(0.01)	$	(0.01)		0%		$	0.05	$	0.26		(81%)
Diluted		$	(0.01)	$	(0.01)		0%		$	0.05	$	0.26		(81%)
Weighted average common shares:
Basic			24,381		24,378					24,381		24,052
Diluted			24,417		24,365					24,419		24,213

"We ended 2014 on a strong note. A combination of a more streamlined cost structure and better overall macro-trends resulted in a 6% increase in net operating revenue and an 82% increase in Adjusted EBITDA in the fourth quarter of 2014 compared to the fourth quarter of 2013. We are happy with our good progress in further improving the operating margins at Casinos Poland as well as at both properties in Canada," Erwin Haitzmann and Peter Hoetzinger, Co Chief Executive Officers of Century Casinos, said. "Construction remains on budget and on schedule on the Century Downs Racetrack and Casino, which is located four-and-a-half miles from Calgary International Airport and next to CrossIrons Mills, a regional shopping center that attracts approximately 12 million visitors annually. The facility is expected to open on April 1, 2015, with a 0.7 mile racetrack, 550 gaming machines, a restaurant, bars and an off-track betting lounge," they continued.

Three Months and Year Ended December 31, 2014 Results*

Net operating revenue increased by $1.8 million, or 6%, and increased by $15.5 million, or 15%, for the three months and year ended December 31, 2014 compared to the three months and year ended December 31, 2013. Following is a summary of the changes in net operating revenue by property or category for the three months and year ended December 31, 2014 compared to the three months and year ended December 31, 2013:


	Net Operating Revenue
	For the Three Months					For the Year
	Ended December 31,					Ended December 31,
	2014/2013					2014/2013
Amounts in millions		Change		% Change			Change		% Change
Century Casino & Hotel, Edmonton		$	0.2		3%		$	(0.1)		(0%)
Century Casino, Calgary			0.3		14%			0.5		5%
Century Downs Racetrack and Casino			0.0		(8%)			0.5		1920%
Century Casino & Hotel, Central City			(0.3)		(7%)			(1.6)		(9%)
Century Casino & Hotel, Cripple Creek			0.1		5%			(0.9)		(7%)
Casinos Poland			1.3		10%			16.4		47%
Cruise Ships & Other			0.3		16%			0.7		11%
Total		$	1.8		6%		$	15.5		15%

Earnings from operations increased by $0.7 million, or 4094%, and decreased by ($2.8) million, or (52%), for the three months and year ended December 31, 2014 compared to the three months and year ended December 31, 2013. Following is a summary of changes in earnings from operations by property or category for the three months and year ended December 31, 2014 compared to the three months and year ended December 31, 2013:


	Earnings from Operations
	For the Three Months					For the Year
	Ended December 31,					Ended December 31,
	2014/2013					2014/2013
Amounts in millions		Change		% Change			Change		% Change
Century Casino & Hotel, Edmonton		$	0.3		15%		$	0.3		4%
Century Casino, Calgary			0.4		319%			0.6		267%
Century Downs Racetrack and Casino			(0.1)		(181%)			(0.2)		(291%)
Century Casino & Hotel, Central City			(0.1)		(31%)			(0.8)		(41%)
Century Casino & Hotel, Cripple Creek			0.1		1189%			(0.7)		(44%)
Casinos Poland			1.1		701%			(0.5)		(149%)
Cruise Ships & Other			(0.1)		(112%)			(0.2)		(28%)
Corporate Other			(1.0)		(49%)			(1.3)		(20%)
Total		$	0.7		4094%		$	(2.8)		(52%)

Net earnings decreased by less than $0.1 million, or (9%), and decreased by ($5.0) million, or (80%), for the three months and year ended December 31, 2014 compared to the three months and year ended December 31, 2013. Following is a summary of the changes in net earnings (loss) by property or category for the three months and year ended December 31, 2014 compared to the three months and year ended December 31, 2013:


	Net Earnings (Loss)
	For the Three Months					For the Year
	Ended December 31,					Ended December 31,
	2014/2013					2014/2013
Amounts in millions		Change		% Change			Change		% Change
Century Casino & Hotel, Edmonton		$	0.2		14%		$	0.2		4%
Century Casino, Calgary			0.3		1128%			0.5		1532%
Century Downs Racetrack and Casino			0.1		5700%			0.1		4450%
Century Casino & Hotel, Central City			(0.1)		(31%)			(0.5)		(41%)
Century Casino & Hotel, Cripple Creek			0.1		1320%			(0.4)		(44%)
Casinos Poland			0.8		217%			(0.1)		(1033%)
Cruise Ships & Other			(0.1)		(162%)			(0.2)		(36%)
Corporate Other			(1.4)		(98%)			(4.5)		(200%)
Total		$	0.0		(9%)		$	(5.0)		(80%)

Items deducted from or added to earnings from operations to arrive at net earnings (loss) include interest income, interest expense, gains on foreign currency transactions, gain on business combination, income tax expense and non-controlling interests.

The period over period increase in net operating revenue and decrease in net earnings for the year ended December 31, 2014 compared to the year ended December 31, 2013 primarily relate to the inclusion of operating results from Casinos Poland Ltd. ("Casinos Poland" or "CPL") in the second quarter of 2013 as a result of the Company's purchase of an additional 33.3% ownership interest in CPL in April 2013. Prior to the acquisition of this additional interest in CPL, the Company owned 33.3% of CPL and accounted for the CPL ownership interest as an equity investment. CPL contributed $51.2 million in net operating revenue and $0.1 million in net losses from January 1, 2014 through December 31, 2014. In addition, the consolidation of United Horsemen of Alberta, Inc. dba Century Downs Racetrack and Casino ("CDR") as of November 29, 2013 as a minority owned subsidiary for which we have a controlling financial interest affects the comparability of 2014 and 2013 financial results. CDR contributed $0.5 million in net operating revenue and less than $0.1 million in net earnings from January 1, 2014 through December 31, 2014.

During the second quarter of 2013, the Company recognized a gain of $2.1 million as a result of measuring at fair value its initial 33.3% ownership interest in CPL held prior to the acquisition date. As a result, the Corporate Other category reported net losses of ($2.2) million for the year ended December 31, 2013.

Property and Category Results (in thousands)*

The following are property and category results for net operating revenue and Adjusted EBITDA**.

The Company has amended the definition of Adjusted EBITDA** to include one-time acquisition costs. Prior year numbers have been updated for comparability.


	Net Operating Revenue						Adjusted EBITDA**						Net Operating Revenue						Adjusted EBITDA**
	For the Three Months						For the Three Months						For the Year						For the Year
	Ended December 31,						Ended December 31,						Ended December 31,						Ended December 31,
	2014		2013		% Change		2014		2013		% Change		2014		2013		% Change		2014		2013		% Change
Century Casino & Hotel, Edmonton	$	6,627	$	6,462		3%	$	2,450	$	2,161		13%	$	25,127	$	25,217		(0%)	$	9,188	$	8,926		3%
Century Casino, Calgary		2,418		2,115		14%		518		96		440%		8,967		8,507		5%		1,274		706		81%
Century Downs Racetrack and Casino		23		25		(8%)		(51)		6		(950%)		505		25		1920%		(108)		6		(1900%)
Century Casino & Hotel, Central City		3,678		3,957		(7%)		572		571		0%		15,753		17,374		(9%)		2,481		3,239		(23%)
Century Casino & Hotel, Cripple Creek		2,573		2,446		5%		401		260		54%		10,954		11,819		(7%)		2,047		2,604		(21%)
Casinos Poland		14,103		12,831		10%		1,781		872		104%		51,191		34,817		47%		3,683		2,749		34%
Cruise Ships & Other		1,837		1,587		16%		139		200		(31%)		7,551		6,827		11%		926		997		(7%)
Corporate		0		1		0%		(1,835)		(1,977)		7%		0		2		0%		(6,641)		(6,542)		(2%)
Consolidated	$	31,259	$	29,424		6%	$	3,975	$	2,189		82%	$	120,048	$	104,588		15%	$	12,850	$	12,685		1%

Balance Sheet and Liquidity

As of December 31, 2014, the Company had $24.7 million in cash and cash equivalents and $38.3 million in outstanding debt on its balance sheet compared to $27.4 million in cash and cash equivalents and $34.1 million in outstanding debt at December 31, 2013. The $38.3 million in outstanding debt as of December 31, 2014 includes $5.1 million related to CPL, $16.8 million related to a long-term land lease by CDR and $16.4 million related to the Company's Bank of Montreal credit agreement.

Conference Call Information

Today the Company will post a copy of the annual report on Form 10-K filed with the SEC for the year ended December 31, 2014 on its website at http://corporate.cnty.com/investor-relations/sec-filings.

Century Casinos will host its fourth quarter 2014 earnings conference call today at 8:00 am MDT; 3:00 pm CET, respectively. U.S. domestic participants should dial 1-844-244-9160. For all international participants, please use 330-931-4670 to dial-in. Participants may listen to the call live at https://centurycasinos.adobeconnect.com/earningsrelease or obtain a recording of the call on the Company's website until March 31, 2015 at http://corporate.cnty.com/investor-relations/sec-filings.

CENTURY CASINOS, INC. AND SUBSIDIARIES
FINANCIAL INFORMATION – US GAAP BASIS

Century Casinos, Inc.
Condensed Consolidated Statements of Earnings

	For the Three Months Ended December 31,					For the Year Ended December 31,
Amounts in thousands, except for per share information		2014		2013			2014		2013
Operating revenue:
Net operating revenue		$	31,259	$	29,424		$	120,048	$	104,588
Operating costs and expenses:
Total operating costs and expenses			30,620		29,433			117,391		98,970
Loss from equity investment			0		(7)			0		(135)
Earnings (loss) from operations			639		(16)			2,657		5,483
Non-operating income (expense):
Gain on business combination			0		404			0		2,478
Interest income			9		55			81		73
Interest expense			(748)		(433)			(2,837)		(983)
Gains on foreign currency transactions and other			142		84			517		318
Non-operating income (expense), net			(597)		110			(2,239)		1,886
Earnings before income taxes			42		94			418		7,369
Income tax provision			721		609			1,507		1,294
Net (loss) earnings			(679)		(515)			(1,089)		6,075
Net loss attributable to non-controlling interest			449		304			2,321		106
Net earnings (loss) attributable to Century Casinos, Inc. shareholders		$	(230)	$	(211)		$	1,232	$	6,181

Earnings (loss) per share attributable to Century Casinos, Inc.:
Basic		$	(0.01)	$	(0.01)		$	0.05	$	0.26
Diluted		$	(0.01)	$	(0.01)		$	0.05	$	0.26

CENTURY CASINOS, INC. AND SUBSIDIARIES
FINANCIAL INFORMATION – US GAAP BASIS

Century Casinos, Inc.
Condensed Consolidated Balance Sheets
(Amounts in thousands)
	December 31,		December 31,
	2014		2013
Assets
Current assets	$	30,163	$	32,360
Property and equipment, net		134,627		132,639
Other assets		22,677		25,625
Total assets	$	187,467	$	190,624

Liabilities and Equity
Current liabilities	$	29,989	$	26,801
Non-current liabilities		35,052		34,373
Century Casinos, Inc. shareholders' equity		118,428		121,809
Non-controlling interest		3,998		7,641
Total liabilities and equity	$	187,467	$	190,624


CENTURY CASINOS, INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION

Century Casinos, Inc.
Adjusted EBITDA Margins ** by Property or Category (unaudited)

	For the Three Months		For the Year
	Ended December 31,		Ended December 31,
	2014	2013	2014	2013
Century Casino & Hotel, Edmonton	37%	33%	37%	35%
Century Casino, Calgary	21%	5%	14%	8%
Century Downs Racetrack and Casino	(222%)	24%	(21%)	24%
Century Casino & Hotel, Central City	16%	14%	16%	19%
Century Casino & Hotel, Cripple Creek	16%	11%	19%	22%
Casinos Poland	13%	7%	7%	8%
Cruise Ships & Other	8%	13%	12%	15%
Consolidated Adjusted EBITDA Margin	13%	7%	11%	12%

Century Casinos, Inc.
Reconciliation of Adjusted EBITDA * to Net Earnings (Loss) by Property or Category
For the three months ended December 31, 2014

Amounts in thousands

	Three Months Ended December 31, 2014
	Edmonton		Calgary		Century Downs		Central City		Cripple Creek		Casinos Poland		Cruise Ships & Other		Corporate		Total
Net earnings (loss)	$	1,581	$	298	$	112	$	119	$	61	$	450	$	(44)	$	(2,807)	$	(230)
Interest income		0		0		0		0		0		(2)		0		(7)		(9)
Interest expense		155		0		521		0		0		70		0		2		748
Income taxes (benefit)		483		11		77		73		37		251		33		(244)		721
Depreciation and amortization		252		225		0		348		296		697		150		46		2,014
Non-controlling interest		0		0		(675)		0		0		226		0		0		(449)
Non-cash stock-based compensation		0		0		0		0		0		0		0		972		972
Foreign currency losses (gains)		(21)		(18)		(86)		0		0		(22)		0		5		(142)
(Gain) loss on disposition of fixed assets		0		2		0		32		7		0		0		0		41
Acquisition costs		0		0		0		0		0		0		0		198		198
Other one-time expenses		0		0		0		0		0		111		0		0		111
Adjusted EBITDA*	$	2,450	$	518	$	(51)	$	572	$	401	$	1,781	$	139	$	(1,835)	$	3,975


CENTURY CASINOS, INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION

Century Casinos, Inc.
Reconciliation of Adjusted EBITDA * to Net Earnings (Loss) by Property or Category
For the three months ended December 31, 2013

Amounts in thousands

	Three Months Ended December 31, 2013
	Edmonton		Calgary		Century Downs		Central City		Cripple Creek		Casinos Poland		Cruise Ships & Other		Corporate			Total
Net earnings (loss)	$	1,385	$	(29)	$	(2)	$	173	$	(5)	$	(386)	$	71	$	(1,418)	$	(211)
Interest income		(16)		0		0		0		0		(8)		0		(31)		(55)
Interest expense		104		0		171		0		(1)		158		0		1		433
Income taxes (benefit)		445		(98)		6		106		(3)		332		23		(202)		609
Depreciation and amortization		253		229		0		292		240		784		100		30		1,928
Non-controlling interest		0		0		(112)		0		0		(192)		0		0		(304)
Non-cash stock-based compensation		0		0		0		0		0		0		0		22		22
Foreign currency losses (gains)		(13)		(6)		0		0		0		(66)		0		1		(84)
(Gain) loss on disposition of fixed assets		3		0		0		0		29		242		6		24		304
(Gain) on business combination		0		0		0		0		0		0		0		(404)		(404)
Other one-time expenses (income)		0		0		(57)		0		0		8		0		0		(49)
Adjusted EBITDA*	$	2,161	$	96	$	6	$	571	$	260	$	872	$	200	$	(1,977)	$	2,189


CENTURY CASINOS, INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION

Century Casinos, Inc.
Reconciliation of Adjusted EBITDA * to Net Earnings (Loss) by Property or Category
For the year ended December 31, 2014

Amounts in thousands

	Year Ended December 31, 2014
	Edmonton		Calgary		Century Downs		Central City		Cripple Creek		Casinos Poland		Cruise Ships & Other		Corporate		Total
Net earnings (loss)	$	5,915	$	444	$	87	$	720	$	563	$	(112)	$	325	$	(6,710)	$	1,232
Interest income		0		0		0		0		0		(39)		0		(42)		(81)
Interest expense		479		0		1,994		0		1		358		0		5		2,837
Income taxes (benefit)		1,865		(57)		163		440		346		25		91		(1,366)		1,507
Depreciation and amortization		995		915		0		1,288		1,131		2,839		506		161		7,835
Non-controlling interest		0		0		(2,267)		0		0		(54)		0		0		(2,321)
Non-cash stock-based compensation		0		0		0		0		0		0		0		1,028		1,028
Foreign currency (gains) losses		(66)		(30)		(97)		0		0		(342)		1		17		(517)
(Gain) loss on disposition of fixed assets		0		2		0		33		6		587		3		0		631
Acquisition costs		0		0		115		0		0		0		0		266		381
Other one-time expenses (income)		0		0		(103)		0		0		421		0		0		318
Adjusted EBITDA*	$	9,188	$	1,274	$	(108)	$	2,481	$	2,047	$	3,683	$	926	$	(6,641)	$	12,850


CENTURY CASINOS, INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION

Century Casinos, Inc.
Reconciliation of Adjusted EBITDA * to Net Earnings (Loss) by Property or Category
For the year ended December 31, 2013

Amounts in thousands

	Year Ended December 31, 2013
	Edmonton		Calgary		Century Downs		Central City		Cripple Creek		Casinos Poland		Cruise Ships & Other		Corporate			Total
Net earnings (loss)	$	5,703	$	(31)	$	(2)	$	1,225	$	1,004	$	12	$	504	$	(2,234)	$	6,181
Interest income		(16)		0		0		0		0		(10)		0		(47)		(73)
Interest expense		429		0		171		0		0		384		(3)		2		983
Income taxes (benefit)		1,809		(172)		6		750		615		145		81		(1,940)		1,294
Depreciation and amortization		1,028		920		0		1,269		956		1,903		402		121		6,599
Non-controlling interest		0		0		(112)		0		0		6		0		0		(106)
Non-cash stock-based compensation		0		0		0		0		0		0		0		33		33
Foreign currency losses (gains)		(30)		(11)		0		0		0		(204)		(1)		(72)		(318)
(Gain) loss on disposition of fixed assets		3		0		0		(5)		29		505		14		24		570
(Gain) on business combination		0		0		0		0		0		0		0		(2,478)		(2,478)
Acquisition costs		0		0		0		0		0		0		0		49		49
Other one-time expenses (income)		0		0		(57)		0		0		8		0		0		(49)
Adjusted EBITDA*	$	8,926	$	706	$	6	$	3,239	$	2,604	$	2,749	$	997	$	(6,542)	$	12,685

* The Company defines Adjusted EBITDA as net earnings (loss) before interest, income taxes (benefit), depreciation, amortization, non-controlling interest, pre-opening expenses, acquisition costs, non-cash stock based compensation charges, asset impairment costs, (gain) loss on disposition of fixed assets, discontinued operations, realized foreign currency losses (gains), (gain) on business combination and certain other one-time items. Intercompany transactions consisting primarily of management and royalty fees and interest, along with their related tax effects, are excluded from the presentation of net earnings (loss) and Adjusted EBITDA reported for each property. Not all of the aforementioned items occur in each reporting period, but have been included in the definition based on historical activity. These adjustments have no effect on the consolidated results as reported under accounting principles generally accepted in the United States of America ("US GAAP"). Adjusted EBITDA is not considered a measure of performance recognized under US GAAP. Management believes that Adjusted EBITDA is a valuable measure of the relative performance of the Company and its properties. The gaming industry commonly uses Adjusted EBITDA as a method of arriving at the economic value of a casino operation. Management uses Adjusted EBITDA to compare the relative operating performance of separate operating units by eliminating the above mentioned items associated with the varying levels of capital expenditures for infrastructure required to generate revenue, and the often high cost of acquiring existing operations. Adjusted EBITDA is used by the Company's lending institution to gauge operating performance. The Company's computation of Adjusted EBITDA may be different from, and therefore may not be comparable to, similar measures used by other companies within the gaming industry. Please see the reconciliation of Adjusted EBITDA to net earnings (loss) above.

** The Company defines Adjusted EBITDA margin as Adjusted EBITDA divided by net operating revenue. Management uses this margin as one of several measures to evaluate the efficiency of the Company's casino operations.

About Century Casinos, Inc.:

Century Casinos, Inc. is an international casino entertainment company that operates 30 casinos worldwide. The Company owns and operates Century Casino & Hotels in Cripple Creek and Central City, Colorado, and in Edmonton, Alberta, Canada and the Century Casino in Calgary, Alberta, Canada. The Company also operates casinos aboard 15 luxury cruise vessels (Regatta, Nautica, Insignia, Marina, Riviera, Mein Schiff 1, Mein Schiff 2, Mein Schiff 3, Wind Surf, Wind Star, Wind Spirit, Star Pride, Seven Seas Voyager, Seven Seas Mariner, and Seven Seas Navigator) and the casino on the cruise ferry Nova Star. Through its Austrian subsidiary, CCE, the Company holds a 66.6% ownership interest in Casinos Poland Ltd., the owner and operator of nine casinos in Poland. The Company manages the operations of the casino at the Radisson Aruba Resort, Casino & Spa in Aruba, Caribbean. The Company, through CCE, also owns a 7.5% interest in, and provides consulting services to, Mendoza Central Entretenimientos S.A., a company that provides gaming-related services to Mendoza Casino in Mendoza, Argentina. The Company, through CCE, is currently developing the Century Downs Racetrack and Casino in the north metropolitan area of Calgary, Alberta, Canada that will include a horse race track and other gaming, restaurant and entertainment facilities. The Company, through CCE, also owns a 75% interest in CBS, which is expected to begin operating a pari-mutuel off-track betting network in Southern Alberta, Canada, in the second quarter of 2015.The Company continues to pursue other international projects in various stages of development.

For more information about Century Casinos, visit our website at www.centurycasinos.com. Century Casinos' common stock trades on The NASDAQ Capital Market® under the symbol CNTY.

This release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and assumptions of the management of Century Casinos based on information currently available to management. Such forward-looking statements include, but are not limited to, statements regarding future results of operations, operating efficiencies, synergies and operational performance, development of and the prospects for the Century Downs Racetrack and Casino project, debt repayment, investments in joint ventures, outcomes of legal proceedings and plans for our casinos and our Company. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from the forward-looking statements include, among others, the risks described in the section entitled "Risk Factors" under Item 1A in our Annual Report on Form 10-K for the year ended December 31, 2014. Century Casinos disclaims any obligation to revise or update any forward-looking statement that may be made from time to time by it or on its behalf.

SOURCE Century Casinos, Inc.