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14.08.2014, 30935 Zeichen

ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.

Financial Figures/Balance Sheet/Company Information 14.08.2014
Colorado Springs, Colorado - August 14, 2014 - Century Casinos, Inc. (NASDAQ Capital Market® and Vienna Stock Exchange: CNTY) today announced its financial results for the three and six months ended June 30, 2014.
Second Quarter 2014 Highlights*
Net operating revenue was $31.6 million, an 11% increase from the three months ended June 30, 2013.\nAdjusted EBITDA** was $3.2 million, an 18% decrease from the three months ended June 30, 2013.\nNet earnings attributable to Century Casinos, Inc. shareholders were $0.2 million, a 96% decrease from the three months ended June 30, 2013.\nEarnings per share were $0.01.\nBook value per share *** at June 30, 2014 was $5.02.\n Array
| |For the Three Months |For the Six Months | |Amounts in thousands, |Ended June 30 , |Ended June 30, | |except per share data | | | |Consolidated Results: |2014 |2013 |% |2014 |2013 |% | | | | |Change| | |Change| |Net operating revenue |$31,555|$28,348|11% |$60,665|46,337|31% | |Earnings from operations|322 |2,083 |(85%) |1,305 |4,129 |(68%) | |Net earnings |156 |3,657 |(96%) |667 |5,319 |(88%) | | | | | | | | | |Adjusted EBITDA** |$3,154 |$3,863 |(18%) |5,925 |7,101 |(17%) | | | | | | | | | |Earnings per share: | | | | | | | |Basic |$0.01 |$0.15 |(93%) |$0.03 |$0.22 |(86%) | |Diluted |$0.01 |$0.15 |(93%) |$0.03 |$0.22 |(86%) | |Weighted average common | | | | | | | |shares: | | | | | | | |Basic |24,381 |24,128 | |24,380 |24,128| | |Diluted |24,420 |24,209 | |24,389 |24,183| |
"The 11% increase in net operating revenue was mostly driven by Casinos Poland. Net cash provided by operating activities remained flat, but Adjusted EBITDA

fluctuated significantly from month to month during the quarter. Construction for the Century Downs Racetrack and Casino in Calgary is progressing on-budget and the project is on schedule for a March 2015 opening," said Erwin Haitzmann and Peter Hoetzinger, Co Chief Executive Officers of Century Casinos.
Three and Six Months Ended June 30, 2014 Results*
Net operating revenue increased by $3.2 million, or 11%, and increased by $14.3 million, or 31%, for the three and six months ended June 30, 2014 compared to the three and six months ended June 30, 2013. Following is a summary of the changes in net operating revenue by property or category for the three and six
months ended June 30, 2014 compared to the three and six months ended June 30, 2013:
| | | | | Net Operating Revenue | | |For the Three Months |For the Six Months | | |Ended June 30, |Ended June 30, | | |2014/2013 |2014/2013 | |Amounts in millions|Change |% Change |Change |% Change | |Century Casino & |$0.1 |1% |$(0.3) |(2%) | |Hotel, Edmonton | | | | | |Century Casino, |0.2 |11% |0.0 |1% | |Calgary | | | | | |Century Casino & |(0.3) |(7%) |(0.8) |(9%) | |Hotel, Central City| | | | | |Century Casino & |(0.5) |(16%) |(0.9) |(15%) | |Hotel, Cripple | | | | | |Creek | | | | | |Casinos Poland |3.4 |31% |15.8 |145% | |Cruise Ships & | | | | | |Other |0.3 |18% |0.1 |3% | |United Horsemen of | | | | | |Alberta |0.1 |100% |0.4 |100% | |Total |$3.2 |11% |14.3 |31% |
Earnings from operations decreased by ($1.8) million, or (85%), and decreased by

($2.8) million, or (68%), for the three and six months ended June 30, 2014 compared to the three and six months ended June 30, 2013. Following is a summary of changes in earnings from operations by property or category for the three and six months ended June 30, 2014 compared to the three and six months ended June 30, 2013:
| | | | | Earnings from Operations | | |For the Three Months |For the Six Months | | |Ended June 30, |Ended June 30, | | |2014/2013 |2014/2013 | |Amounts in millions|Change |% Change |Change |% Change | |Century Casino & |$0.1 |4% |$(0.1) |(3%) | |Hotel, Edmonton | | | | | |Century Casino, |0.1 |964% |0.0 |(6%) | |Calgary | | | | | |Century Casino & |(0.1) |(12%) |(0.4) |(35%) | |Hotel, Central City| | | | | |Century Casino & |(0.4) |(69%) |(0.8) |(74%) | |Hotel, Cripple | | | | | |Creek | | | | | |Casinos Poland |(1.1) |(208%) |(1.1) |(203%) | |Cruise Ships & | | | | | |Other |(0.1) |(44%) |(0.1) |(41%) | |United Horsemen of | | | | | |Alberta |(0.2) |(100%) |0.0 |0% | |Corporate |(0.1) |(5%) |(0.3) |(9%) | |Total |$(1.8) |(85%) |(2.8) |(68%) |
Net earnings decreased by ($3.5) million, or (96%), and decreased by ($4.7)

million, or (88%), for the three and six months ended June 30, 2014 compared to the three and six months ended June 30, 2013. Following is a summary of the changes in net earnings (loss) by property or category for the three and six
months ended June 30, 2014 compared to the three and six months ended June 30, 2013:
| | | | | Net Earnings | | |For the Three Months |For the Six Months | | |Ended June 30, |Ended June 30, | | |2014/2013 |2014/2013 | |Amounts in millions|Change |% Change |Change |% Change | |Century Casino & |$0.0 |2% |$(0.2) |(5%) | |Hotel, Edmonton | | | | | |Century Casino, |0.0 |(35%) |(0.1) |(49%) | |Calgary | | | | | |Century Casino & |0.0 |(12%) |(0.2) |(35%) | |Hotel, Central City| | | | | |Century Casino & |(0.3) |(67%) |(0.5) |(74%) | |Hotel, Cripple | | | | | |Creek | | | | | |Casinos Poland |(0.7) |(205%) |(0.7) |(195%) | |Cruise Ships & | | | | | |Other |0.0 |(44%) |(0.1) |(45%) | |United Horsemen of | | | | | |Alberta |0.0 |(100%) |0.0 |(100%) | |Corporate |(2.5) |(229%) |(2.9) |(1817%) | |Total |$(3.5) |(96%) |(4.7) |(88%) |
Items deducted from or added to earnings from operations to arrive at net

earnings 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 six months ended June 30, 2014 compared to the six months ended June 30, 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 $26.7 million in net operating revenue and $0.3 million in net losses from January 1, 2014 through June 30, 2014. In addition, the consolidation of United Horsemen of Alberta, Inc. ("UHA") 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. UHA contributed $0.4 million in net operating revenue and less than $0.1 million in net losses from January 1, 2014 through June 30, 2014.
For the three months ended June 30, 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 earnings of $1.1 million and $0.2 million for the three and six months ended June 30, 2013, respectively.
Property and Category Results (in thousands)* The following are property and category results for net operating revenue and Adjusted EBITDA**.
{ Table with details in attached pdf }
Balance Sheet and Liquidity As of June 30, 2014, the Company had $26.5 million in cash and cash equivalents and $35.7 million in outstanding debt on its balance sheet compared to $27.4 million in cash and cash equivalents and $34.1 million in debt obligations at December 31, 2013. The $35.7 million in outstanding debt includes $7.3 million related to CPL, $18.3 million related to a long-term land lease by UHA and $10.1 million related to the Company's Bank of Montreal credit agreement ("BMO Credit Agreement").
The Company has a committed term sheet from the Bank of Montreal for an additional CAD 11.0 million to finance Century Downs Racetrack and Casino, which the Company will exclusively manage upon completion. The Company has pledged its 15% ownership interest in UHA as collateral for the loan.
Conference Call Information
Today the Company will post a copy of the quarterly report on Form 10-Q filed with the SEC for the quarter ended June 30, 2014 on its website at http://corporate.cnty.com/investor-relations/sec-filings...
Century Casinos will host its second quarter 2014 earnings conference call today at 8:00 am MDT; 4:00 pm CET, respectively. U.S. domestic participants should dial 1-888-523-1225. For all international participants, please use 719-457-2664 to dial-in. Participants may listen to the call live or obtain a recording of the call on the Company's website until August 30, 2014 at http://corporate.cnty.com/investor-relations/sec-filings...
(continued) CENTURY CASINOS, INC. AND SUBSIDIARIES FINANCIAL INFORMATION - US GAAP BASIS (unaudited)
Century Casinos, Inc. Condensed Consolidated Statements of Earnings (unaudited)
| |For the Three |For the Six | | |Months Ended |Months Ended | | |June 30, |June 30, | |Amounts in thousands, except for |2014 |2013 |2014 |2013 | |per share information | | | | | |Operating revenue: | | | | | |Net operating revenue |$31,555 |$28,348 |$60,665 |$46,337 | |Operating costs and expenses: | | | | | |Total operating costs and expenses |31,233 |26,233 |59,360 |42,080 | |(Loss) form equity investment |0 |(32) |0 |(128) | |Earnings from operations |322 | 2,083 |1,305 |4,129 | |Non-operating (expense) income, net|(605) |1,976 |(1,146) |1,909 | |(Loss) earnings before income taxes|(283) |4,059 |159 |6,038 | |Income tax provision |433 |236 |648 | 553 | |Net (loss) earnings |(716) |3,823 |(489) | 5,485 | |Net loss (earnings) attributable to|872 |(166) |1,156 |(166) | |non-controlling interest | | | | | |Net earnings attributable to |$156 |$3,657 |$667 |$5,319 | |Century Casinos, Inc. shareholders | | | | | | | | | | | |Earnings per share attributable to | | | | | |Century Casinos, Inc. - basic and | | | | | |diluted: | | | | | | Basic |$0.01 |$0.15 |$0.03 |$0.22 | | Diluted |$0.01 |$0.15 |$0.03 |$0.22 |

Century Casinos, Inc.
Condensed Consolidated Balance Sheets (Amounts in thousands)
| | | | |Century Casinos, Inc. | | | |Condensed Consolidated Balance Sheets | | | |(Amounts in thousands) | | | | |June |December | | |30, |31, | | |2014 |2013 | |Assets | | | |Current assets |$31,149 |$32,360 | |Property and equipment, net |134,680 |132,639 | |Other assets |24,656 |25,625 | |Total assets |$190,485 |$190,624 | | | | | |Liabilities and Shareholders' Equity | | | |Current liabilities |$27,802 |$26,801 | |Non-current liabilities |34,286 |34,373 | |Shareholders' equity |128,397 |129,450 | |Total liabilities and shareholders' equity |$190,485 |$190,624 |

Century Casinos, Inc. Adjusted EBITDA Margins ** by Property or Category (unaudited)
*** The Company began consolidating UHA as a minority owned subsidiary for which it has a controlling financial interest on November 29, 2013.
Reconciliation of Adjusted EBITDA * to Net Earnings (Loss) by Property or Category For the three months ended June 30, 2014
Amounts in thousands
| |Three Months Ended June 30, 2014 | | |Edmon-|Cal- |Cent-|Crip-|Casinos|Cruise|United|Corpor |Total | | |ton |gary |ral |ple |Poland |Ships&|Horse-|ate | | | | | |City |Creek| |Other |men of| | | | | | | | | | |Albert| | | |Net | | | | | | | | | | |earnings | | | | | | | | | | |(loss) |$1,443|$30 |$269 |$123 |$(348) |$60 |($43) |($1,378)|$156 | |Interest | | | | | | | | | | |income |0 |0 |0 |0 |(31) |0 |0 |(16) |(47) | |Interest | | | | | | | | | | |expense |102 |0 |0 |0 |98 |0 |494 |3 |697 | |Income | | | | | | | | | | |taxes | | | | | | | | | | |(benefit) |518 |88 |165 |68 |(71) |13 |26 |(374) |433 | |Depreciation| | | | | | | | | | |and | | | | | | | | | | |amortization|247 |243 |307 |287 |723 |111 |0 |42 |1,960 | |Non- | | | | | | | | | | |controlling | | | | | | | | | | |interest |0 |0 |0 |0 |(174) |0 |(698) |0 |(872) | |Non-cash | | | | | | | | | | |stock based | | | | | | | | | | |compensation|0 |0 |0 |0 |0 |0 |0 |21 |21 | |Foreign | | | | | | | | | | |currency | | | | | | | | | | |losses | | | | | | | | | | |(gains) |6 |3 |0 |0 |(68) |1 |17 |(4) |(45) | |(Gain) loss | | | | | | | | | | |on | | | | | | | | | | |disposition | | | | | | | | | | |of fixed | | | | | | | | | | |assets |0 |0 |1 |0 |737 |3 |0 |0 |741 | |Impairments | | | | | | | | | | |and other | | | | | | | | | | |write-offs |0 |0 |0 |0 |110 |0 |0 |0 |110 | |Adjusted | | | | | | | | | | |EBITDA* |$2,316|$364 |$742 |$478 |$976 |$188 |$(204)|($1,706)|$3,154|

Century Casinos, Inc. Reconciliation of Adjusted EBITDA * to Net Earnings (Loss) by Property or Category For the three months ended June 30, 2013
Amounts in thousands
| |Three Months Ended June 30, 2013 | |Edmon-|Cal-|Central|Cripple|Casinos|Cruise|Corp. |Total | |ton |gary|City |Creek |Poland |ships | | | | | | | | |&Other| | |Net earnings (loss)|$1,421|$46 |$305 |$376 |$333 |$108 |$1,068 |$3,657 | | | | | | | | | | | | | | | | | | |Interest income |0 |0 |0 |0 |(1) |0 |(4) |(5) |Interest expense |121 |0 |0 |0 |138 |4 |1 |264 |Income taxes | | | | | | | | |(benefit) |452 |(59)|188 |231 |(12) |20 |(584) |236 |Depreciation |257 |230 |333 |236 |607 |101 |31 |1,795 |Non-controlling | | | | | | | | |interest |0 |0 |0 |0 |166 |0 |0 |166 |Non-cash stock | | | | | | | | |based compensation |0 |0 |0 |0 |0 |0 |1 |1 |Foreign currency | | | | | | | | |losses (gains) |2 |(1) |0 |0 |(74) |0 |(88) |(161) |(Gain) loss on | | | | | | | | |disposition of | | | | | | | | |fixed assets |0 |0 |0 |0 |(16) |0 |0 |(16) |Gain on business | | | | | | | | |combination |0 |0 |0 |0 |0 |0 |(2,074)|(2,074) |Adjusted EBITDA* |$2,253|$216|$826 |$843 |$1,141 |$233 |(1,649)|$3,863
Reconciliation of Adjusted EBITDA * to Net Earnings (Loss) by Property or Category For the six months ended June 30, 2014

| |Six Months Ended June 30, 2014 | | |Edmon-|Cal- |Cent-|Crip-|Casinos|Cruise|United|Corpor |Total | | |ton |gary |ral |ple |Poland |Ships&|Horse-|ate | | | | | |City |Creek| |Other |men of| | | | | | | | | | |Albert| | | |Net | | | | | | | | | | |earnings | | | | | | | | | | |(loss) |$2,866|$87 |$427 |$174 |$(317) |$170 |($45) |($2,695)|$667 | |Interest | | | | | | | | | | |income |0 |0 |0 |0 |(32) |0 |0 |(29) |(61) | |Interest | | | | | | | | | | |expense |204 |0 |0 |0 |194 |0 |982 |2 |1,382 | |Income | | | | | | | | | | |taxes | | | | | | | | | | |(benefit) |949 |19 |262 |107 |(91) |34 |44 |(676) |648 | |Depreciation| | | | | | | | | | |and | | | | | | | | | | |amortization|485 |460 |600 |528 |1,416 |209 |0 |72 |3,770 | |Non- | | | | | | | | | | |controlling | | | | | | | | | | |interest |0 |0 |0 |0 |(158) |0 |(998) |0 |(1,156)| |Non-cash | | | | | | | | | | |stock based | | | | | | | | | | |compensation|0 |0 |0 |0 |0 |0 |0 |43 |43 | |Foreign | | | | | | | | | | |currency | | | | | | | | | | |losses | | | | | | | | | | |(gains) |(28) |(11) |0 |0 |(164) |1 |17 |10 |(175) | |(Gain) loss | | | | | | | | | | |on | | | | | | | | | | |disposition | | | | | | | | | | |of fixed | | | | | | | | | | |assets |0 |0 |1 |0 |769 |3 |0 |0 |800 | |Impairments | | | | | | | | | | |and other | | | | | | | | | | |write-offs |0 |0 |0 |0 |110 |0 |(103) |0 |7 | |Adjusted | | | | | | | | | | |EBITDA* |$4,476|$555 |$1,290|$809|$1,754 |$417 |$(103)|($3,273)|$5,925 |

Century Casinos, Inc. Reconciliation of Adjusted EBITDA * to Net Earnings (Loss) by Property or Category For the six months ended June 30, 2013
| |Six Months Ended June 30, 2013 | |Edmon-|Cal-|Central|Cripple|Casinos|Cruise|Corp. |Total | |ton |gary|City |Creek |Poland |ships | | | | | | | | |&Other| | |Net earnings (loss)|$3,019|$171|$660 |$672 |$333 |$307 |$157 |$5,319 | | | | | | | | | | | | | | | | | | |Interest income |0 |0 |0 |0 |(1) |0 |(10) |(11) |Interest expense |211 |0 |0 |0 |138 |(3) |(2) |344 |Income taxes | | | | | | | | |(benefit) |899 |(65)|405 |412 |(12) |41 |(1,127)|553 |Depreciation |517 |463 |663 |475 |607 |202 |59 |2,986 |Non-controlling | | | | | | | | |interest |0 |0 |0 |0 |166 |0 |0 |166 |Non-cash stock | | | | | | | | |based compensation |0 |0 |0 |0 |0 |0 |3 |3 |Foreign currency | | | | | | | | |losses (gains) |(22) |(5) |0 |0 |(74) |0 |(67) |(168) |(Gain) loss on | | | | | | | | |disposition of | | | | | | | | |fixed assets |0 |0 |(5) |0 |(16) |4 |0 |(17) |Gain on business | | | | | | | | |combination |0 |0 |0 |0 |0 |0 |(2,074)|(2,074) |Adjusted EBITDA* |$4,624|$564|$1,723 |$1,559 |$1,141 |$551 |(3,061)|$7,101

* The Company defines Adjusted EBITDA as net earnings (loss) before interest, income taxes (benefit), depreciation, amortization, non-controlling interest, pre-opening expenses, non-cash stock based compensation charges, asset impairment costs, (gain) loss on disposition of fixed assets, discontinued operations, realized foreign currency (gains) losses, 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, Seven Seas Navigator) and the casino on the cruise ferry Nova Star. Through its Austrian subsidiary, Century Casinos Europe GmbH, the Company holds a 66.6% ownership interest in Casinos Poland Ltd., the owner and operator of nine casinos in Poland. The Company also manages the operations of the casino at the Radisson Aruba Resort, Casino & Spa in Aruba, Caribbean. The Company 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. Century Casinos, Inc. 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® and the Vienna Stock Exchange 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 (including results for Casinos Poland, Ltd.), operating efficiencies, synergies and operational performance, development of and the prospects for the Century Downs Racetrack and Casino project, debt repayment 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, 2013. 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.
end of announcement euro adhoc
Attachments with Announcement: ---------------------------------------------- http://resources.euroadhoc.com/us/1e7RzKIX
issuer: Century Casinos,Inc. c/o Century Casinos Europe GmbH, Untere Viaduktgasse 2 A-1030 Wien phone: +43/664/3553935 FAX: +43/1/5336363 mail: peter.hoetzinger@cnty.com WWW: www.cnty.com sector: Casinos & Gambling ISIN: AT0000499900 indexes: WBI, ATX Prime

stockmarkets: official market: Wien language: English
Digital press kit: http://www.ots.at/pressemappe/2906/aom

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Century
Akt. Indikation:  3.64 / 3.70
Uhrzeit:  14:41:07
Veränderung zu letztem SK:  0.82%
Letzter SK:  3.64 ( -2.30%)



 

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    Century Casinos, Inc. Announces Second Quarter 2014 Results (with document)


    14.08.2014, 30935 Zeichen

    ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.

    Financial Figures/Balance Sheet/Company Information 14.08.2014
    Colorado Springs, Colorado - August 14, 2014 - Century Casinos, Inc. (NASDAQ Capital Market® and Vienna Stock Exchange: CNTY) today announced its financial results for the three and six months ended June 30, 2014.
    Second Quarter 2014 Highlights*
    Net operating revenue was $31.6 million, an 11% increase from the three months ended June 30, 2013.\nAdjusted EBITDA** was $3.2 million, an 18% decrease from the three months ended June 30, 2013.\nNet earnings attributable to Century Casinos, Inc. shareholders were $0.2 million, a 96% decrease from the three months ended June 30, 2013.\nEarnings per share were $0.01.\nBook value per share *** at June 30, 2014 was $5.02.\n Array
    | |For the Three Months |For the Six Months | |Amounts in thousands, |Ended June 30 , |Ended June 30, | |except per share data | | | |Consolidated Results: |2014 |2013 |% |2014 |2013 |% | | | | |Change| | |Change| |Net operating revenue |$31,555|$28,348|11% |$60,665|46,337|31% | |Earnings from operations|322 |2,083 |(85%) |1,305 |4,129 |(68%) | |Net earnings |156 |3,657 |(96%) |667 |5,319 |(88%) | | | | | | | | | |Adjusted EBITDA** |$3,154 |$3,863 |(18%) |5,925 |7,101 |(17%) | | | | | | | | | |Earnings per share: | | | | | | | |Basic |$0.01 |$0.15 |(93%) |$0.03 |$0.22 |(86%) | |Diluted |$0.01 |$0.15 |(93%) |$0.03 |$0.22 |(86%) | |Weighted average common | | | | | | | |shares: | | | | | | | |Basic |24,381 |24,128 | |24,380 |24,128| | |Diluted |24,420 |24,209 | |24,389 |24,183| |
    "The 11% increase in net operating revenue was mostly driven by Casinos Poland. Net cash provided by operating activities remained flat, but Adjusted EBITDA

    fluctuated significantly from month to month during the quarter. Construction for the Century Downs Racetrack and Casino in Calgary is progressing on-budget and the project is on schedule for a March 2015 opening," said Erwin Haitzmann and Peter Hoetzinger, Co Chief Executive Officers of Century Casinos.
    Three and Six Months Ended June 30, 2014 Results*
    Net operating revenue increased by $3.2 million, or 11%, and increased by $14.3 million, or 31%, for the three and six months ended June 30, 2014 compared to the three and six months ended June 30, 2013. Following is a summary of the changes in net operating revenue by property or category for the three and six
    months ended June 30, 2014 compared to the three and six months ended June 30, 2013:
    | | | | | Net Operating Revenue | | |For the Three Months |For the Six Months | | |Ended June 30, |Ended June 30, | | |2014/2013 |2014/2013 | |Amounts in millions|Change |% Change |Change |% Change | |Century Casino & |$0.1 |1% |$(0.3) |(2%) | |Hotel, Edmonton | | | | | |Century Casino, |0.2 |11% |0.0 |1% | |Calgary | | | | | |Century Casino & |(0.3) |(7%) |(0.8) |(9%) | |Hotel, Central City| | | | | |Century Casino & |(0.5) |(16%) |(0.9) |(15%) | |Hotel, Cripple | | | | | |Creek | | | | | |Casinos Poland |3.4 |31% |15.8 |145% | |Cruise Ships & | | | | | |Other |0.3 |18% |0.1 |3% | |United Horsemen of | | | | | |Alberta |0.1 |100% |0.4 |100% | |Total |$3.2 |11% |14.3 |31% |
    Earnings from operations decreased by ($1.8) million, or (85%), and decreased by

    ($2.8) million, or (68%), for the three and six months ended June 30, 2014 compared to the three and six months ended June 30, 2013. Following is a summary of changes in earnings from operations by property or category for the three and six months ended June 30, 2014 compared to the three and six months ended June 30, 2013:
    | | | | | Earnings from Operations | | |For the Three Months |For the Six Months | | |Ended June 30, |Ended June 30, | | |2014/2013 |2014/2013 | |Amounts in millions|Change |% Change |Change |% Change | |Century Casino & |$0.1 |4% |$(0.1) |(3%) | |Hotel, Edmonton | | | | | |Century Casino, |0.1 |964% |0.0 |(6%) | |Calgary | | | | | |Century Casino & |(0.1) |(12%) |(0.4) |(35%) | |Hotel, Central City| | | | | |Century Casino & |(0.4) |(69%) |(0.8) |(74%) | |Hotel, Cripple | | | | | |Creek | | | | | |Casinos Poland |(1.1) |(208%) |(1.1) |(203%) | |Cruise Ships & | | | | | |Other |(0.1) |(44%) |(0.1) |(41%) | |United Horsemen of | | | | | |Alberta |(0.2) |(100%) |0.0 |0% | |Corporate |(0.1) |(5%) |(0.3) |(9%) | |Total |$(1.8) |(85%) |(2.8) |(68%) |
    Net earnings decreased by ($3.5) million, or (96%), and decreased by ($4.7)

    million, or (88%), for the three and six months ended June 30, 2014 compared to the three and six months ended June 30, 2013. Following is a summary of the changes in net earnings (loss) by property or category for the three and six
    months ended June 30, 2014 compared to the three and six months ended June 30, 2013:
    | | | | | Net Earnings | | |For the Three Months |For the Six Months | | |Ended June 30, |Ended June 30, | | |2014/2013 |2014/2013 | |Amounts in millions|Change |% Change |Change |% Change | |Century Casino & |$0.0 |2% |$(0.2) |(5%) | |Hotel, Edmonton | | | | | |Century Casino, |0.0 |(35%) |(0.1) |(49%) | |Calgary | | | | | |Century Casino & |0.0 |(12%) |(0.2) |(35%) | |Hotel, Central City| | | | | |Century Casino & |(0.3) |(67%) |(0.5) |(74%) | |Hotel, Cripple | | | | | |Creek | | | | | |Casinos Poland |(0.7) |(205%) |(0.7) |(195%) | |Cruise Ships & | | | | | |Other |0.0 |(44%) |(0.1) |(45%) | |United Horsemen of | | | | | |Alberta |0.0 |(100%) |0.0 |(100%) | |Corporate |(2.5) |(229%) |(2.9) |(1817%) | |Total |$(3.5) |(96%) |(4.7) |(88%) |
    Items deducted from or added to earnings from operations to arrive at net

    earnings 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 six months ended June 30, 2014 compared to the six months ended June 30, 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 $26.7 million in net operating revenue and $0.3 million in net losses from January 1, 2014 through June 30, 2014. In addition, the consolidation of United Horsemen of Alberta, Inc. ("UHA") 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. UHA contributed $0.4 million in net operating revenue and less than $0.1 million in net losses from January 1, 2014 through June 30, 2014.
    For the three months ended June 30, 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 earnings of $1.1 million and $0.2 million for the three and six months ended June 30, 2013, respectively.
    Property and Category Results (in thousands)* The following are property and category results for net operating revenue and Adjusted EBITDA**.
    { Table with details in attached pdf }
    Balance Sheet and Liquidity As of June 30, 2014, the Company had $26.5 million in cash and cash equivalents and $35.7 million in outstanding debt on its balance sheet compared to $27.4 million in cash and cash equivalents and $34.1 million in debt obligations at December 31, 2013. The $35.7 million in outstanding debt includes $7.3 million related to CPL, $18.3 million related to a long-term land lease by UHA and $10.1 million related to the Company's Bank of Montreal credit agreement ("BMO Credit Agreement").
    The Company has a committed term sheet from the Bank of Montreal for an additional CAD 11.0 million to finance Century Downs Racetrack and Casino, which the Company will exclusively manage upon completion. The Company has pledged its 15% ownership interest in UHA as collateral for the loan.
    Conference Call Information
    Today the Company will post a copy of the quarterly report on Form 10-Q filed with the SEC for the quarter ended June 30, 2014 on its website at http://corporate.cnty.com/investor-relations/sec-filings...
    Century Casinos will host its second quarter 2014 earnings conference call today at 8:00 am MDT; 4:00 pm CET, respectively. U.S. domestic participants should dial 1-888-523-1225. For all international participants, please use 719-457-2664 to dial-in. Participants may listen to the call live or obtain a recording of the call on the Company's website until August 30, 2014 at http://corporate.cnty.com/investor-relations/sec-filings...
    (continued) CENTURY CASINOS, INC. AND SUBSIDIARIES FINANCIAL INFORMATION - US GAAP BASIS (unaudited)
    Century Casinos, Inc. Condensed Consolidated Statements of Earnings (unaudited)
    | |For the Three |For the Six | | |Months Ended |Months Ended | | |June 30, |June 30, | |Amounts in thousands, except for |2014 |2013 |2014 |2013 | |per share information | | | | | |Operating revenue: | | | | | |Net operating revenue |$31,555 |$28,348 |$60,665 |$46,337 | |Operating costs and expenses: | | | | | |Total operating costs and expenses |31,233 |26,233 |59,360 |42,080 | |(Loss) form equity investment |0 |(32) |0 |(128) | |Earnings from operations |322 | 2,083 |1,305 |4,129 | |Non-operating (expense) income, net|(605) |1,976 |(1,146) |1,909 | |(Loss) earnings before income taxes|(283) |4,059 |159 |6,038 | |Income tax provision |433 |236 |648 | 553 | |Net (loss) earnings |(716) |3,823 |(489) | 5,485 | |Net loss (earnings) attributable to|872 |(166) |1,156 |(166) | |non-controlling interest | | | | | |Net earnings attributable to |$156 |$3,657 |$667 |$5,319 | |Century Casinos, Inc. shareholders | | | | | | | | | | | |Earnings per share attributable to | | | | | |Century Casinos, Inc. - basic and | | | | | |diluted: | | | | | | Basic |$0.01 |$0.15 |$0.03 |$0.22 | | Diluted |$0.01 |$0.15 |$0.03 |$0.22 |

    Century Casinos, Inc.
    Condensed Consolidated Balance Sheets (Amounts in thousands)
    | | | | |Century Casinos, Inc. | | | |Condensed Consolidated Balance Sheets | | | |(Amounts in thousands) | | | | |June |December | | |30, |31, | | |2014 |2013 | |Assets | | | |Current assets |$31,149 |$32,360 | |Property and equipment, net |134,680 |132,639 | |Other assets |24,656 |25,625 | |Total assets |$190,485 |$190,624 | | | | | |Liabilities and Shareholders' Equity | | | |Current liabilities |$27,802 |$26,801 | |Non-current liabilities |34,286 |34,373 | |Shareholders' equity |128,397 |129,450 | |Total liabilities and shareholders' equity |$190,485 |$190,624 |

    Century Casinos, Inc. Adjusted EBITDA Margins ** by Property or Category (unaudited)
    *** The Company began consolidating UHA as a minority owned subsidiary for which it has a controlling financial interest on November 29, 2013.
    Reconciliation of Adjusted EBITDA * to Net Earnings (Loss) by Property or Category For the three months ended June 30, 2014
    Amounts in thousands
    | |Three Months Ended June 30, 2014 | | |Edmon-|Cal- |Cent-|Crip-|Casinos|Cruise|United|Corpor |Total | | |ton |gary |ral |ple |Poland |Ships&|Horse-|ate | | | | | |City |Creek| |Other |men of| | | | | | | | | | |Albert| | | |Net | | | | | | | | | | |earnings | | | | | | | | | | |(loss) |$1,443|$30 |$269 |$123 |$(348) |$60 |($43) |($1,378)|$156 | |Interest | | | | | | | | | | |income |0 |0 |0 |0 |(31) |0 |0 |(16) |(47) | |Interest | | | | | | | | | | |expense |102 |0 |0 |0 |98 |0 |494 |3 |697 | |Income | | | | | | | | | | |taxes | | | | | | | | | | |(benefit) |518 |88 |165 |68 |(71) |13 |26 |(374) |433 | |Depreciation| | | | | | | | | | |and | | | | | | | | | | |amortization|247 |243 |307 |287 |723 |111 |0 |42 |1,960 | |Non- | | | | | | | | | | |controlling | | | | | | | | | | |interest |0 |0 |0 |0 |(174) |0 |(698) |0 |(872) | |Non-cash | | | | | | | | | | |stock based | | | | | | | | | | |compensation|0 |0 |0 |0 |0 |0 |0 |21 |21 | |Foreign | | | | | | | | | | |currency | | | | | | | | | | |losses | | | | | | | | | | |(gains) |6 |3 |0 |0 |(68) |1 |17 |(4) |(45) | |(Gain) loss | | | | | | | | | | |on | | | | | | | | | | |disposition | | | | | | | | | | |of fixed | | | | | | | | | | |assets |0 |0 |1 |0 |737 |3 |0 |0 |741 | |Impairments | | | | | | | | | | |and other | | | | | | | | | | |write-offs |0 |0 |0 |0 |110 |0 |0 |0 |110 | |Adjusted | | | | | | | | | | |EBITDA* |$2,316|$364 |$742 |$478 |$976 |$188 |$(204)|($1,706)|$3,154|

    Century Casinos, Inc. Reconciliation of Adjusted EBITDA * to Net Earnings (Loss) by Property or Category For the three months ended June 30, 2013
    Amounts in thousands
    | |Three Months Ended June 30, 2013 | |Edmon-|Cal-|Central|Cripple|Casinos|Cruise|Corp. |Total | |ton |gary|City |Creek |Poland |ships | | | | | | | | |&Other| | |Net earnings (loss)|$1,421|$46 |$305 |$376 |$333 |$108 |$1,068 |$3,657 | | | | | | | | | | | | | | | | | | |Interest income |0 |0 |0 |0 |(1) |0 |(4) |(5) |Interest expense |121 |0 |0 |0 |138 |4 |1 |264 |Income taxes | | | | | | | | |(benefit) |452 |(59)|188 |231 |(12) |20 |(584) |236 |Depreciation |257 |230 |333 |236 |607 |101 |31 |1,795 |Non-controlling | | | | | | | | |interest |0 |0 |0 |0 |166 |0 |0 |166 |Non-cash stock | | | | | | | | |based compensation |0 |0 |0 |0 |0 |0 |1 |1 |Foreign currency | | | | | | | | |losses (gains) |2 |(1) |0 |0 |(74) |0 |(88) |(161) |(Gain) loss on | | | | | | | | |disposition of | | | | | | | | |fixed assets |0 |0 |0 |0 |(16) |0 |0 |(16) |Gain on business | | | | | | | | |combination |0 |0 |0 |0 |0 |0 |(2,074)|(2,074) |Adjusted EBITDA* |$2,253|$216|$826 |$843 |$1,141 |$233 |(1,649)|$3,863
    Reconciliation of Adjusted EBITDA * to Net Earnings (Loss) by Property or Category For the six months ended June 30, 2014

    | |Six Months Ended June 30, 2014 | | |Edmon-|Cal- |Cent-|Crip-|Casinos|Cruise|United|Corpor |Total | | |ton |gary |ral |ple |Poland |Ships&|Horse-|ate | | | | | |City |Creek| |Other |men of| | | | | | | | | | |Albert| | | |Net | | | | | | | | | | |earnings | | | | | | | | | | |(loss) |$2,866|$87 |$427 |$174 |$(317) |$170 |($45) |($2,695)|$667 | |Interest | | | | | | | | | | |income |0 |0 |0 |0 |(32) |0 |0 |(29) |(61) | |Interest | | | | | | | | | | |expense |204 |0 |0 |0 |194 |0 |982 |2 |1,382 | |Income | | | | | | | | | | |taxes | | | | | | | | | | |(benefit) |949 |19 |262 |107 |(91) |34 |44 |(676) |648 | |Depreciation| | | | | | | | | | |and | | | | | | | | | | |amortization|485 |460 |600 |528 |1,416 |209 |0 |72 |3,770 | |Non- | | | | | | | | | | |controlling | | | | | | | | | | |interest |0 |0 |0 |0 |(158) |0 |(998) |0 |(1,156)| |Non-cash | | | | | | | | | | |stock based | | | | | | | | | | |compensation|0 |0 |0 |0 |0 |0 |0 |43 |43 | |Foreign | | | | | | | | | | |currency | | | | | | | | | | |losses | | | | | | | | | | |(gains) |(28) |(11) |0 |0 |(164) |1 |17 |10 |(175) | |(Gain) loss | | | | | | | | | | |on | | | | | | | | | | |disposition | | | | | | | | | | |of fixed | | | | | | | | | | |assets |0 |0 |1 |0 |769 |3 |0 |0 |800 | |Impairments | | | | | | | | | | |and other | | | | | | | | | | |write-offs |0 |0 |0 |0 |110 |0 |(103) |0 |7 | |Adjusted | | | | | | | | | | |EBITDA* |$4,476|$555 |$1,290|$809|$1,754 |$417 |$(103)|($3,273)|$5,925 |

    Century Casinos, Inc. Reconciliation of Adjusted EBITDA * to Net Earnings (Loss) by Property or Category For the six months ended June 30, 2013
    | |Six Months Ended June 30, 2013 | |Edmon-|Cal-|Central|Cripple|Casinos|Cruise|Corp. |Total | |ton |gary|City |Creek |Poland |ships | | | | | | | | |&Other| | |Net earnings (loss)|$3,019|$171|$660 |$672 |$333 |$307 |$157 |$5,319 | | | | | | | | | | | | | | | | | | |Interest income |0 |0 |0 |0 |(1) |0 |(10) |(11) |Interest expense |211 |0 |0 |0 |138 |(3) |(2) |344 |Income taxes | | | | | | | | |(benefit) |899 |(65)|405 |412 |(12) |41 |(1,127)|553 |Depreciation |517 |463 |663 |475 |607 |202 |59 |2,986 |Non-controlling | | | | | | | | |interest |0 |0 |0 |0 |166 |0 |0 |166 |Non-cash stock | | | | | | | | |based compensation |0 |0 |0 |0 |0 |0 |3 |3 |Foreign currency | | | | | | | | |losses (gains) |(22) |(5) |0 |0 |(74) |0 |(67) |(168) |(Gain) loss on | | | | | | | | |disposition of | | | | | | | | |fixed assets |0 |0 |(5) |0 |(16) |4 |0 |(17) |Gain on business | | | | | | | | |combination |0 |0 |0 |0 |0 |0 |(2,074)|(2,074) |Adjusted EBITDA* |$4,624|$564|$1,723 |$1,559 |$1,141 |$551 |(3,061)|$7,101

    * The Company defines Adjusted EBITDA as net earnings (loss) before interest, income taxes (benefit), depreciation, amortization, non-controlling interest, pre-opening expenses, non-cash stock based compensation charges, asset impairment costs, (gain) loss on disposition of fixed assets, discontinued operations, realized foreign currency (gains) losses, 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, Seven Seas Navigator) and the casino on the cruise ferry Nova Star. Through its Austrian subsidiary, Century Casinos Europe GmbH, the Company holds a 66.6% ownership interest in Casinos Poland Ltd., the owner and operator of nine casinos in Poland. The Company also manages the operations of the casino at the Radisson Aruba Resort, Casino & Spa in Aruba, Caribbean. The Company 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. Century Casinos, Inc. 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® and the Vienna Stock Exchange 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 (including results for Casinos Poland, Ltd.), operating efficiencies, synergies and operational performance, development of and the prospects for the Century Downs Racetrack and Casino project, debt repayment 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, 2013. 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.
    end of announcement euro adhoc
    Attachments with Announcement: ---------------------------------------------- http://resources.euroadhoc.com/us/1e7RzKIX
    issuer: Century Casinos,Inc. c/o Century Casinos Europe GmbH, Untere Viaduktgasse 2 A-1030 Wien phone: +43/664/3553935 FAX: +43/1/5336363 mail: peter.hoetzinger@cnty.com WWW: www.cnty.com sector: Casinos & Gambling ISIN: AT0000499900 indexes: WBI, ATX Prime

    stockmarkets: official market: Wien language: English
    Digital press kit: http://www.ots.at/pressemappe/2906/aom

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    Century
    Akt. Indikation:  3.64 / 3.70
    Uhrzeit:  14:41:07
    Veränderung zu letztem SK:  0.82%
    Letzter SK:  3.64 ( -2.30%)



     

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    1. Peter Hötzinger (Century Casinos) beim 5. Small Cap Day - Wiener Börse / C.I.R.A. , (© finanzmarktfoto.at/Martina Draper)   >> Öffnen auf photaq.com

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    Die Uniqa Group ist eine führende Versicherungsgruppe, die in Österreich und Zentral- und Osteuropa tätig ist. Die Gruppe ist mit ihren mehr als 20.000 Mitarbeitern und rund 40 Gesellschaften in 18 Ländern vor Ort und hat mehr als 10 Millionen Kunden.

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      Star der Stunde: UBM 3.53%, Rutsch der Stunde: FACC -1.39%
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      Star der Stunde: Warimpex 4%, Rutsch der Stunde: voestalpine -2.1%
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      Star der Stunde: UBM 4.1%, Rutsch der Stunde: FACC -1.39%
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      Die Wiener Börse Party ist ein Podcastprojekt für Audio-CD.at von Christian Drastil Comm..Unter dem Motto „Market & Me“ berichtet Christian Drastil über das Tagesgeschehen an der Wiener Börse. Inha...

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