Revenue growth remains inconsistent with a 5.2% increase in 2026Q1, while gross margins have faced structural pressure, declining from 42.8% in 2024Q1 to 34.8% in the most recent quarter.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Sales/Revenue | 579.77M | 572.98M | 575.92M | 550.21M | 430.53M | 388.51M | 304.27M | 218.23M | 168.94M | 154.07M | 139.23M | 134.43M | 120.05M | 104.59M | 71.83M | 70.87M | 60.69M | 49.74M | 53.04M | 91.65M | 56.28M | 37.45M | 40.05M | 36.06M | 29.34M | 29.58M | 29.34M | 23.6M | 19.5M | 19.7M | 11.5M |
| Revenue Growth % | 1.65% | -0.51% | 4.67% | 27.8% | 10.82% | 27.69% | 39.43% | 29.18% | 9.65% | 10.65% | 3.57% | 11.98% | 14.78% | 45.61% | 1.36% | 16.76% | 22.02% | -6.23% | -42.13% | 62.84% | 50.31% | -6.52% | 11.08% | 22.91% | -0.81% | 0.81% | 24.31% | 21.03% | -1.02% | 71.3% | 173.81% |
| Cost of Goods Sold | 392.05M | 377.45M | 330.38M | 307.39M | 232.64M | 201.04M | 168.95M | 126.45M | 159.5M | 139.45M | 123.07M | 117.94M | 117.39M | 98.97M | 40.27M | 39.46M | 33.53M | 25.69M | 27.39M | 45.35M | 28.05M | 17.07M | 16.89M | 14.22M | 11.22M | 11.27M | 11.29M | 9.4M | 8.1M | 10.8M | 4.9M |
| COGS % of Revenue | - | 65.88% | 57.37% | 55.87% | 54.04% | 51.75% | 55.53% | 57.94% | 94.41% | 90.51% | 88.39% | 87.73% | 97.79% | 94.63% | 56.06% | 55.68% | 55.24% | 51.65% | 51.64% | 49.48% | 49.83% | 45.58% | 42.18% | 39.44% | 38.23% | 38.1% | 38.49% | 39.83% | 41.54% | 54.82% | 42.61% |
| Gross Profit | 187.72M | 195.53M | 245.54M | 242.81M | 197.89M | 187.47M | 135.32M | 91.78M | 9.44M | 14.62M | 16.16M | 16.49M | 2.66M | 5.62M | 31.56M | 31.41M | 27.16M | 24.05M | 25.65M | 46.3M | 28.24M | 20.38M | 23.16M | 21.84M | 18.12M | 18.31M | 18.05M | 14.2M | 11.4M | 8.9M | 6.6M |
| Gross Margin % | 32.38% | 34.13% | 42.63% | 44.13% | 45.96% | 48.25% | 44.47% | 42.06% | 5.59% | 9.49% | 11.61% | 12.27% | 2.21% | 5.37% | 43.94% | 44.32% | 44.76% | 48.35% | 48.36% | 50.52% | 50.17% | 54.42% | 57.82% | 60.56% | 61.77% | 61.9% | 61.51% | 60.17% | 58.46% | 45.18% | 57.39% |
| Gross Profit Growth % | - | -20.37% | 1.12% | 22.7% | 5.56% | 38.54% | 47.44% | 872.63% | -35.44% | -9.59% | -1.99% | 520.74% | -52.71% | -82.2% | 0.48% | 15.62% | 12.97% | -6.25% | -44.6% | 63.98% | 38.57% | -12.02% | 6.05% | 20.52% | -1.02% | 1.45% | 27.08% | 24.56% | 28.09% | 34.85% | 175% |
| Operating Expenses | 131.82M | 144.25M | 241.22M | 178.77M | 130.28M | 118.95M | 135.44M | 97M | 159.5M | 139.45M | 123.07M | 117.94M | 117.39M | 98.97M | 26.21M | 27.14M | 26.62M | 23.79M | 34.91M | 35.27M | 24.99M | 14.53M | 16.15M | 15.04M | 10.83M | -5.06M | 11.85M | 10.2M | 9M | 8.1M | 6.3M |
| OpEx % of Revenue | - | 25.18% | 41.88% | 32.49% | 30.26% | 30.62% | 44.51% | 44.45% | 94.41% | 90.51% | 88.39% | 87.73% | 97.79% | 94.63% | 36.49% | 38.29% | 43.86% | 47.83% | 65.81% | 38.49% | 44.39% | 38.81% | 40.33% | 41.7% | 36.91% | -17.09% | 40.38% | 43.22% | 46.15% | 41.12% | 54.78% |
| Selling, General & Admin | 144.21M | 144.25M | 147.91M | 136.09M | 104.26M | 92.19M | 80.25M | 69.67M | 60.19M | 50.53M | 44.31M | 42.75M | 38.93M | 32.55M | 21.45M | 21.58M | 20.49M | 17.65M | 19.59M | 27.18M | 19.34M | 11.07M | 9.1M | 7.75M | 7.38M | 7.53M | 8M | 6.7M | 5.9M | 5.2M | 4.3M |
| SG&A % of Revenue | - | 25.18% | 25.68% | 24.73% | 24.22% | 23.73% | 26.37% | 31.92% | 35.63% | 32.79% | 31.82% | 31.8% | 32.43% | 31.13% | 29.87% | 30.45% | 33.77% | 35.49% | 36.93% | 29.65% | 34.37% | 29.57% | 22.73% | 21.48% | 25.16% | 25.46% | 27.28% | 28.39% | 30.26% | 26.4% | 37.39% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | -1000K | 0 | 93.31M | 42.67M | 26.01M | 26.76M | 55.2M | 27.33M | -3.54M | 8.95M | 8.35M | 8M | 7.83M | 6.6M | 4.76M | 5.55M | 6.13M | 6.14M | 34.91M | 8.1M | 24.99M | 14.53M | 7.05M | 7.29M | 3.45M | -12.59M | 3.84M | 3.5M | 3.1M | 2.9M | 2M |
| Operating Income | 55.9M | 51.28M | 4.32M | 64.05M | 67.61M | 68.52M | -127K | -5.22M | 9.46M | 14.62M | 16.16M | 16.49M | 2.66M | 5.48M | 5.78M | 4.26M | 1.07M | -8.73M | -9.26M | 11.03M | 3.25M | 5.84M | 7.01M | 6.8M | 7.29M | 23.36M | 6.2M | 4M | 2.4M | 800K | 300K |
| Operating Margin % | 9.64% | 8.95% | 0.75% | 11.64% | 15.7% | 17.64% | -0.04% | -2.39% | 5.6% | 9.49% | 11.61% | 12.27% | 2.21% | 5.24% | 8.04% | 6.02% | 1.76% | -17.55% | -17.45% | 12.03% | 5.77% | 15.61% | 17.5% | 18.87% | 24.85% | 78.99% | 21.14% | 16.95% | 12.31% | 4.06% | 2.61% |
| Operating Income Growth % | - | 1088.11% | -93.26% | -5.27% | -1.32% | 54051.18% | 97.57% | -155.19% | -35.28% | -9.59% | -1.99% | 520.74% | -51.54% | -5.07% | 35.43% | 299.72% | 112.22% | 5.7% | -183.95% | 239.29% | -44.4% | -16.6% | 3% | -6.68% | -68.79% | 276.76% | 55.02% | 66.67% | 200% | 166.67% | 111.11% |
| EBITDA | 95.36M | 53.56M | 60.2M | 109.31M | 98.72M | 99.32M | 30.07M | 11.53M | 18.86M | 23.56M | 24.51M | 24.49M | 10.49M | 12.08M | 10.53M | 10.41M | 7.19M | -2.59M | -175K | 21.02M | 8.57M | 9.64M | 10.08M | 9.59M | 9.69M | 28.01M | 10.04M | 7.5M | 5.5M | 3.7M | 2.3M |
| EBITDA Margin % | 16.45% | 9.35% | 10.45% | 19.87% | 22.93% | 25.56% | 9.88% | 5.28% | 11.16% | 15.29% | 17.61% | 18.22% | 8.74% | 11.55% | 14.66% | 14.69% | 11.85% | -5.21% | -0.33% | 22.93% | 15.23% | 25.75% | 25.16% | 26.58% | 33.03% | 94.7% | 34.23% | 31.78% | 28.21% | 18.78% | 20% |
| EBITDA Growth % | 53.34% | -11.02% | -44.93% | 10.73% | -0.6% | 230.31% | 160.85% | -38.87% | -19.96% | -3.89% | 0.09% | 133.44% | -13.16% | 14.71% | 1.19% | 44.73% | 377.58% | -1380.57% | -100.83% | 145.23% | -11.12% | -4.31% | 5.12% | -1.07% | -65.41% | 178.91% | 33.89% | 36.36% | 48.65% | 60.87% | 264.29% |
| D&A (Non-Cash Add-back) | 39.46M | 2.29M | 55.88M | 45.27M | 31.11M | 30.8M | 30.2M | 16.75M | 9.4M | 8.95M | 8.35M | 8M | 7.83M | 6.6M | 4.76M | 6.14M | 6.13M | 6.14M | 9.08M | 9.99M | 5.32M | 3.8M | 3.07M | 2.78M | 2.4M | 4.64M | 3.84M | 3.5M | 3.1M | 2.9M | 2M |
| EBIT | 83.37M | 51.28M | 9.96M | 70.09M | 71.84M | 70.98M | -184K | -3.72M | 10.14M | 16.11M | 18.76M | 17.96M | 3.25M | 5.62M | 5.79M | 4.49M | 2.47M | -8.3M | -9.67M | 2.21M | 3.25M | 5.84M | 7.01M | 6.83M | 7.29M | 23.3M | 5.87M | 3.98M | 2.26M | 600K | 300K |
| Net Interest Income | -103.62M | -103.47M | -100.72M | -91.81M | -64.98M | -42.66M | -43.1M | -8.23M | -4.11M | -3.57M | -3.09M | -3.28M | -2.76M | -910K | -633K | -764K | -1.12M | -3.72M | -4.1M | -6.05M | -2.51M | -1.63M | -1.59M | -2.01M | 0 | 0 | 0 | 0 | -1M | 0 | 0 |
| Interest Income | 1.07M | 1.32M | 2.64M | 2.11M | 851K | 174K | 6K | 21K | 103K | 92K | 72K | 38K | 81K | 73K | 37K | 38K | 50K | 50K | 31K | 975K | 896K | 476K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 104.69M | 104.78M | 103.37M | 93.92M | 65.83M | 42.83M | 43.1M | 8.25M | 4.22M | 3.66M | 3.16M | 3.31M | 2.84M | 983K | 670K | 802K | 1.17M | 3.77M | 4.13M | 7.03M | 3.41M | 2.11M | 1.59M | 2.01M | 0 | 0 | 0 | 0 | 1M | 0 | 0 |
| Other Income/Expense | -102.53M | -102.43M | -97.73M | -87.88M | -61.6M | -40.37M | -43.16M | -6.75M | -3.54M | -2.16M | -565K | -1.15M | -2.24M | 1.89M | -657K | -577K | 225K | -3.71M | -4.54M | 3.65M | 3.19M | -1.8M | -1.42M | -1.81M | -1.76M | -19.08M | -78K | -84K | -259K | -900K | -1.5M |
| Pretax Income | -46.63M | -51.15M | -93.41M | -23.83M | 6.01M | 28.15M | -43.29M | -11.97M | 5.92M | 12.45M | 15.6M | 15.34M | 418K | 7.37M | 5.12M | 3.69M | 1.29M | -12.08M | -13.8M | 5.85M | 6.44M | 4.04M | 5.58M | 5.02M | 5.53M | 4.22M | 5.79M | 3.9M | 2M | -300K | -1.2M |
| Pretax Margin % | -8.04% | -8.93% | -16.22% | -4.33% | 1.4% | 7.25% | -14.23% | -5.48% | 3.51% | 8.08% | 11.2% | 11.41% | 0.35% | 7.05% | 7.13% | 5.2% | 2.13% | -24.28% | -26.01% | 6.39% | 11.44% | 10.79% | 13.94% | 13.93% | 18.86% | 14.26% | 19.75% | 16.53% | 10.26% | -1.52% | -10.43% |
| Income Tax | 3.17M | 2.75M | 27.67M | -5.34M | -7.66M | 6.37M | 4.85M | 4.17M | 1.92M | 4.56M | 1.79M | 1.83M | 1.51M | 1.29M | 1.03M | 667K | 270K | 825K | 4.06M | 273K | 134K | 347K | 749K | 1.78M | 2.45M | 1.79M | 2.54M | 1.7M | 100K | 100K | 1.6M |
| Effective Tax Rate % | -6.81% | -5.37% | -29.62% | 22.42% | -127.45% | 22.63% | -11.2% | -34.88% | 32.37% | 36.62% | 11.46% | 11.96% | 360.53% | 17.56% | 20.08% | 18.09% | 20.9% | -6.83% | -29.43% | 4.66% | 2.08% | 8.59% | 13.41% | 35.38% | 44.35% | 42.54% | 43.87% | 43.59% | 5% | -33.33% | -133.33% |
| Net Income | -57.31M | -61.42M | -128.17M | -28.2M | 7.98M | 20.62M | -48M | -19.16M | 3.39M | 6.26M | 9.21M | 11.91M | 1.23M | 6.18M | 4.09M | 3.02M | 1.02M | 10.88M | -13.47M | 5.33M | 7.77M | 4.48M | 4.74M | 3.25M | 3.08M | 2.46M | 3.25M | 2.2M | 1.9M | -600K | -1.3M |
| Net Margin % | -9.88% | -10.72% | -22.25% | -5.13% | 1.85% | 5.31% | -15.78% | -8.78% | 2.01% | 4.06% | 6.62% | 8.86% | 1.03% | 5.91% | 5.7% | 4.26% | 1.68% | 21.88% | -25.4% | 5.81% | 13.8% | 11.97% | 11.83% | 9% | 10.5% | 8.3% | 11.09% | 9.32% | 9.74% | -3.05% | -11.3% |
| Net Income Growth % | 57.63% | 52.08% | -354.54% | -453.54% | -61.32% | 142.96% | -150.6% | -664.38% | -45.77% | -32.08% | -22.61% | 866.48% | -80.07% | 51.09% | 35.42% | 195.6% | -90.61% | 180.78% | -352.92% | -31.41% | 73.33% | -5.42% | 45.96% | 5.42% | 25.42% | -24.53% | 47.86% | 15.79% | 416.67% | 53.85% | -316.67% |
| Net Income (Continuing) | -49.8M | -53.9M | -121.08M | -18.49M | 13.67M | 21.78M | -48.14M | -16.14M | 4.01M | 7.89M | 13.81M | 12.99M | -1.09M | 6.08M | 4.09M | 3.02M | 1.02M | -12.9M | -17.86M | 5.58M | 7.77M | 3.69M | 4.74M | 3.25M | 3.08M | 2.46M | 3.25M | 2.2M | 1.9M | -400K | -1.3M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 23.74M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 90.45M | 90.92M | 91.3M | 93.05M | 10.17M | 8.73M | 8.83M | 8.77M | 7.06M | 7.42M | 6.39M | 4.86M | 4M | 7.64M | 0 | 0 | 0 | 0 | 897K | 5.81M | 5.41M | 4.44M | 4.35M | 14K | 903K | 605K | 1.03M | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -2.00 | -2.04 | -4.19 | -0.93 | 0.43 | 0.66 | -1.63 | -0.55 | 0.11 | 0.24 | 0.37 | 0.49 | 0.05 | 0.26 | 0.17 | 0.13 | 0.04 | 0.46 | -0.57 | 0.21 | 0.32 | 0.25 | 0.30 | 0.22 | 0.20 | 0.16 | 0.22 | 0.15 | 0.13 | -0.03 | -0.09 |
| EPS Growth % | 55.91% | 51.31% | -350.54% | -316.28% | -34.85% | 140.49% | -196.36% | -600% | -54.17% | -35.14% | -24.49% | 880% | -80.77% | 52.94% | 30.77% | 225% | -91.3% | 180.7% | -371.43% | -34.38% | 28% | -16.67% | 36.36% | 10% | 25% | -27.27% | 46.67% | 15.38% | 533.33% | 67.91% | -255.83% |
| EPS (Basic) | - | -2.04 | -4.19 | -0.93 | 0.46 | 0.70 | -1.63 | -0.55 | 0.12 | 0.25 | 0.38 | 0.49 | 0.05 | 0.26 | 0.17 | 0.13 | 0.04 | 0.46 | -0.57 | 0.21 | 0.33 | 0.28 | 0.35 | 0.24 | 0.23 | 0.18 | 0.23 | 0.15 | 0.13 | -0.03 | -0.09 |
| Diluted Shares Outstanding | 28.63M | 30.12M | 30.62M | 30.27M | 31.48M | 31.39M | 29.56M | 29.45M | 29.96M | 25.56M | 24.67M | 24.47M | 24.42M | 24.21M | 24.11M | 24.07M | 23.8M | 23.58M | 23.46M | 23.89M | 23.84M | 17.92M | 15.79M | 14.75M | 15.39M | 15.34M | 14.79M | 14.67M | 14.62M | 20M | 13.9M |
| Basic Shares Outstanding | 28.63M | 30.12M | 30.62M | 30.27M | 29.81M | 29.59M | 29.56M | 29.45M | 29.4M | 25.07M | 24.43M | 24.43M | 24.38M | 24.05M | 24M | 23.89M | 23.61M | 23.58M | 23.46M | 23.09M | 23.12M | 16M | 13.54M | 13.53M | 13.39M | 13.64M | 14.14M | 14.67M | 14.62M | 20M | 13.9M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Persistent negative net margins
According to recent quarterly filings, Century Casinos' revenue growth has fluctuated significantly, with the most recent period showing a modest 5.2% increase, yet the overall trend remains inconsistent as the company navigates integration challenges across its diverse US, Canadian, and Polish regional gaming property portfolio.
The revenue trajectory appears hampered by the cyclical nature of regional gaming demand and the integration of recent large-scale acquisitions. Investors should monitor whether the company can achieve sustainable organic growth or if revenue remains tethered to the volatile performance of its secondary and tertiary market hubs.
Based on reported financial statements, gross margins have experienced notable volatility, dropping from 42.8% in early 2024 to 34.8% in 2026Q1, suggesting that the company's OpCo business model faces significant pressure from rising lease obligations and inflationary costs within its regional gaming operations.
The decline in gross margin indicates that the company's fixed-cost structure, particularly rent payments to REITs, is consuming a larger share of revenue. This trend warrants further investigation into whether management can optimize property-level efficiencies to offset the inherent rigidity of their current lease-heavy operating model.
As reported in recent income statements, operating margins have struggled to scale, frequently hovering in the single digits, which implies that Century Casinos' high fixed-cost base and corporate overhead are effectively neutralizing the potential benefits of revenue gains across its multi-jurisdictional gaming floor footprint.
The inability to consistently expand operating margins suggests that the company lacks the necessary scale to absorb its current SG&A and lease burdens. This operational inefficiency may indicate that the recent expansion strategy has yet to yield the expected synergies required to drive meaningful bottom-line profitability.
Based on the provided data, Century Casinos has reported consistent net losses, with a net margin of -12.0% in 2026Q1, highlighting that non-operating items and heavy depreciation related to its OpCo structure continue to weigh heavily on the company's bottom-line earnings quality for shareholders.
The recurring net losses suggest that the company's reported earnings are significantly impacted by capital structure choices rather than just operational performance. Analysts should focus on rent-adjusted EBITDA to better understand the underlying cash-generating capability of the assets, as headline net income appears distorted by accounting conventions.
As indicated by the financial data, the company's reliance on debt-financed acquisitions and the resulting negative net margins suggest a precarious financial position, where any further downturn in regional discretionary spending could severely limit the company's ability to service its substantial lease and debt obligations.
Short-term observers may focus on the risk that the company's aggressive acquisition strategy has outpaced its operational cash flow generation. The potential for margin compression in the Polish segment, combined with US regional demand plateaus, suggests that the current valuation may not fully account for these integration-related risks.
Quick answers to the most common questions about buying CNTY stock.
For fiscal year 2025, Century Casinos, Inc. (CNTY) reported total revenue of $573.0M. This represents a 4882.4% increase compared to $11.5M in 1996.
Century Casinos, Inc. (CNTY) reported a net loss of $61.4M for the fiscal year ending 2025.
Century Casinos, Inc. (CNTY) reported an operating income of $51.3M, resulting in an operating profit margin of 8.9%. This margin reflects the operational efficiency of the business before interest and taxes.
Century Casinos, Inc. (CNTY) generated $195.5M in gross profit for the year, representing a gross profit margin of 34.1%. This demonstrates the company's core pricing power and production efficiency.