CENTURY CASINOS INC /CO/ Revenue Disclosure
The Company derives revenue and other income primarily from contracts with customers. A breakout of the Company’s revenue and other income is presented in the table below.
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| For the year | ||||
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| ended December 31, | ||||
Amounts in thousands |
| 2025 |
| 2024 | ||
Revenue from contracts with customers |
| $ | 572,975 |
| $ | 575,919 |
Cost recovery income |
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| 991 |
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| 1,066 |
Total revenue |
| $ | 573,966 |
| $ | 576,985 |
The Company operates gaming establishments as well as related lodging, restaurant, horse racing (including off-track betting), sports betting, iGaming, and entertainment facilities in the US, Canada and Poland. The Company generates revenue at its properties by providing the following types of products and services: gaming, pari-mutuel and sports betting, iGaming, hotel, food and beverage, and other.
Revenue from external customers is attributed to reportable segments based on the location of the Company’s casino operations. Disaggregation of the Company’s revenue from contracts with customers by type of revenue and reportable segment is presented in the tables below.
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| For the year ended December 31, 2025 | |||||||||||||||||||
Amounts in thousands |
| US |
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| US Midwest |
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| US |
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| Canada |
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| Poland |
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| Other (1) |
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| Total |
Gaming | $ | 123,626 |
| $ | 146,681 |
| $ | 22,179 |
| $ | 47,317 |
| $ | 82,627 |
| $ | — |
| $ | 422,430 |
Pari-mutuel, sports betting and iGaming |
| 9,100 |
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| 1,084 |
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| 75 |
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| 9,576 |
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| — |
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| — |
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| 19,835 |
Hotel |
| 17,054 |
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| 5,641 |
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| 25,787 |
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| 605 |
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| — |
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| — |
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| 49,087 |
Food and beverage |
| 14,069 |
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| 7,407 |
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| 22,031 |
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| 12,666 |
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| 958 |
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| — |
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| 57,131 |
Other |
| 5,647 |
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| 2,997 |
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| 9,489 |
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| 5,765 |
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| 583 |
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| 11 |
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| 24,492 |
Net operating revenue | $ | 169,496 |
| $ | 163,810 |
| $ | 79,561 |
| $ | 75,929 |
| $ | 84,168 |
| $ | 11 |
| $ | 572,975 |
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(1)Represents additional business activities including certain other corporate and management operations that are not included in the Company’s reportable segments. Information is presented for reconciliation purposes.
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| For the year ended December 31, 2024 | |||||||||||||||||||
Amounts in thousands |
| US |
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| US Midwest |
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| US |
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| Canada |
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| Poland |
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| Other (1) |
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| Total |
Gaming | $ | 128,908 |
| $ | 142,305 |
| $ | 22,489 |
| $ | 48,062 |
| $ | 78,184 |
| $ | — |
| $ | 419,948 |
Pari-mutuel, sports betting and iGaming |
| 7,708 |
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| 1,817 |
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| 72 |
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| 9,419 |
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| — |
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| — |
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| 19,016 |
Hotel |
| 15,088 |
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| 4,589 |
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| 27,998 |
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| 578 |
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| — |
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| — |
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| 48,253 |
Food and beverage |
| 14,668 |
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| 7,340 |
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| 23,540 |
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| 12,566 |
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| 833 |
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| — |
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| 58,947 |
Other |
| 5,268 |
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| 4,485 |
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| 13,393 |
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| 5,692 |
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| 883 |
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| 34 |
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| 29,755 |
Net operating revenue | $ | 171,640 |
| $ | 160,536 |
| $ | 87,492 |
| $ | 76,317 |
| $ | 79,900 |
| $ | 34 |
| $ | 575,919 |
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(1)Represents additional business activities including certain other corporate and management operations that are not included in the Company’s reportable segments. Information is presented for reconciliation purposes.
For the majority of the Company’s contracts with customers, payment is made in advance of the services and contracts are settled on the same day the sale occurs with revenue recognized on the date of the sale. For contracts that are not settled, a contract liability is created. The expected duration of the performance obligation is less than one year.
The amount of revenue recognized that was included in the opening contract liability balance was $2.8 million and $4.1 million for the years ended December 31, 2025 and 2024, respectively. This revenue consisted primarily of the Company’s deferred gaming revenue from player points earned through play at the Company’s casinos located in the United States and events at the Nugget. The balance in receivables relates to sports betting and iGaming revenue owed to the Company by its partners. Activity in the Company’s receivables and contract liabilities from contracts with customers is presented in the table below.
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| For the year ended |
| For the year ended | ||||||||
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| December 31, 2025 |
| December 31, 2024 | ||||||||
Amounts in thousands |
| Receivables |
| Contract Liabilities |
| Receivables |
| Contract Liabilities | ||||
Opening |
| $ | 553 |
| $ | 3,644 |
| $ | 1,640 |
| $ | 4,714 |
Closing |
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| 918 |
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| 3,870 |
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| 553 |
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| 3,644 |
Increase (Decrease) |
| $ | 365 |
| $ | 226 |
| $ | (1,087) |
| $ | (1,070) |
Receivables are included in accounts receivable and contract liabilities are included in accrued liabilities on the Company’s consolidated balance sheets.
Substantially all of the Company’s contracts and contract liabilities have an original duration of one year or less. The Company applies the practical expedient for such contracts and does not consider the effects of the time value of money. Further, because of the short duration of these contracts, the Company applied the optional exemption and has not disclosed the transaction price for the remaining performance obligations as of the end of each reporting period or when the Company expects to recognize this revenue.
Pari-mutuel, sports betting and iGaming revenue includes the following for the years ended December 31, 2025 and 2024:
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| For the year ended December 31, | ||||
Amounts in thousands |
| 2025 |
| 2024 | ||
Pari-mutuel revenue |
| $ | 15,816 |
| $ | 15,202 |
Sports betting revenue |
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| 1,423 |
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| 2,058 |
iGaming revenue |
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| 2,596 |
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| 1,756 |
Total |
| $ | 19,835 |
| $ | 19,016 |
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 18, 2026 | Showing above |
| 2024 | Mar 13, 2025 | |
| 2023 | Mar 14, 2024 | |
| 2022 | Mar 10, 2023 | |
| 2021 | Mar 8, 2022 | |
| 2020 | Mar 12, 2021 | |
| 2019 | Mar 13, 2020 | |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.