Century Casinos

Corporate History and Expansion

Century Casinos was formed in 1992 by several former executives of Casinos Austria. The company's early years were marked by numerous development proposals across the United States, including riverboat casino projects in Louisiana, Indiana, and Missouri, though many of these initial plans did not come to fruition. Its first major operational foothold came in March 1994 with a merger with Alpine Gaming, acquiring the Long Branch Saloon and Casino in Cripple Creek, Colorado, which was later renamed Legends and eventually became Century Casino Cripple Creek. That same year, Century began its long-running cruise ship casino business by operating the casino on the Silversea Cruises' Silver Cloud. The company relocated its headquarters from Denver to Colorado Springs in 1996 to be closer to its Colorado properties. In 2000, Century was awarded a license for a casino in Caledon, South Africa, which it managed and co-owned.

The company's growth in the 2010s was heavily focused on Alberta, Canada. After opening the Century Casino and Hotel in Edmonton in 2006, it purchased the Silver Dollar Casino in Calgary in 2010 for $10.5 million and rebranded it as Century Casino Calgary. Century then financed and managed the development of Century Downs Racetrack and Casino near Calgary, which opened in 2015. Further Alberta acquisitions included the Apex Casino in St. Albert for $12.3 million in 2016, rebranded as Century Casino St. Albert, and the opening of Century Mile Racetrack and Casino near Edmonton International Airport in April 2019. A significant strategic move came in 2007 when Century purchased a 33 percent stake in Casinos Poland, increasing its ownership to 67 percent by April 2013. However, the company later divested its international holdings, selling the Prague and South African casinos in 2009 and ending the Aruba management agreement in 2017.

Major Acquisitions and Portfolio Strategy

Century Casinos has used strategic acquisitions to dramatically scale its operations, particularly in the United States. The most significant deal occurred in 2019 when the company purchased the operating businesses of three casinos from Eldorado Resorts for $107 million. This acquisition included the Isle Casino Cape Girardeau and Lady Luck Casino Caruthersville in Missouri, and the Mountaineer Casino, Racetrack and Resort in West Virginia. The real estate for these properties was acquired separately by Vici Properties and leased back to Century for $25 million per year. This transaction more than doubled Century's annual revenue, and the Missouri properties were subsequently rebranded under the Century name.

The company continued its U.S. expansion in 2023 with two key purchases. It acquired the operating business of the Nugget Casino Resort in Sparks, Nevada, from Marnell Gaming, and bought the Rocky Gap Casino Resort in Flintstone, Maryland, from Golden Entertainment for $56 million. Also in 2023, Century executed a major financial transaction involving its Canadian assets, selling the real estate of its four Alberta casinos to Vici Properties in a sale-leaseback deal for US$162 million. This move provided capital while allowing Century to continue operating the venues under lease agreements.

Century's current strategy involves refining its portfolio to focus on its core U.S. operations. In 2026, the company announced the sale of the racing and gaming operations of two Alberta racinos, Century Mile and Century Downs, to Calgary's Highfield Investment Group for $16.4 million. The transaction, expected to close in late 2026 or early 2027, will eliminate $7.5 million in annual rent obligations to Vici and allow Century to use the proceeds to reduce debt. The company has also indicated it is open to divesting its 67 percent stake in Casinos Poland, signalling a continued shift away from international investments.

Operations in Canada

Century Casinos established a substantial footprint in Alberta, becoming one of the province's prominent casino operators. Its Canadian properties have historically included a mix of traditional casinos and racinos, which combine horse racing with gaming facilities. The company's venues are adult-oriented entertainment destinations, offering a variety of slot machines, video lottery terminals (VLTs), and table games such as blackjack and roulette. Century's operations in Canada have been subject to the regulatory frameworks of Alberta Gaming, Liquor and Cannabis.

The company's key remaining properties in Alberta are Century Casino Edmonton and Century Casino St. Albert. The Edmonton location at 13103 Fort Road is a full-service casino and hotel, featuring a large gaming floor, off-track betting, and multiple dining and entertainment options. Century Casino St. Albert, acquired in 2016, serves the community north of Edmonton with a similar array of gaming and amenities. Both properties operate on land leased from Vici Properties following the 2023 real estate sale. Century has exited several Canadian operations in recent years, including the sale of Century Casino Calgary in 2020 and the 2026 agreement to sell its two racino operations.

• Century Casino Edmonton: A casino and hotel on Fort Road in Edmonton, opened in 2006 and leased from Vici.
• Century Casino St. Albert: A casino in St. Albert, acquired in 2016 and leased from Vici.
• Century Casino Calgary (former): Operated from 2010 to 2020, later sold and renamed ACE Casino Blackfoot.
• Century Downs Racetrack and Casino (former): A racino in Balzac, opened in 2015, with operations sold in 2026.
• Century Mile Racetrack and Casino (former): A racino near Edmonton International Airport, opened in 2019, with operations sold in 2026.

Century Casinos has stated it will not pursue online casino gaming, focusing instead on its physical properties. The company partnered with British online sports gambling company Bet365 in 2021 to launch sports betting operations in Colorado. In a recent quarter, the adjusted earnings from the company's Alberta venues ranged from US$599,000 to US$1.15 million. The company's second quarter 2026 results were driven by strong performance in its North American operations.

Financial Performance and Corporate Structure

Century Casinos is publicly traded on the Nasdaq Capital Market under the symbol CNTY and is a component of the Russell 2000 Index. The company is led by Co-Chief Executive Officers Erwin Haitzmann and Peter Hoetzinger. Its financial performance is segmented into reportable geographic divisions: US West, US Midwest, Canada, and Poland. The company uses metrics like Net Operating Revenue, Adjusted EBITDAR (Earnings Before Interest, Taxes, Depreciation, Amortization, and Rent), and net earnings to gauge performance. The second quarter of 2026 demonstrated the strength of Century's North American operations, with the company reporting record Q2 Net Operating Revenue and Adjusted EBITDAR.

This performance was driven by strong results in its U.S. segments. Notably, the Nugget Casino Resort in Nevada saw its Adjusted EBITDAR grow by 93 percent compared to the same period in 2025. The US Midwest segment, which includes properties in Missouri and Colorado, also contributed positively. However, these gains were partially offset by underperformance in the company's Poland segment, attributed in part to low table game hold percentages in June 2026. The company's leadership noted seeing some signs of improvement in Poland that could lead to better results in future quarters.

For the second quarter of 2026, Century Casinos reported all-time record net operating revenue and Adjusted EBITDAR, driven by strong performance in North America. As of June 30, 2026, the company had $60.2 million in cash and cash equivalents and $336.5 million in outstanding debt. The Nugget Casino Resort's Adjusted EBITDAR grew by 93 percent in the second quarter of 2026 compared to the prior year period. The company's outstanding debt includes a $331.6 million term loan under a credit agreement with Goldman Sachs. The strategic sale of the Alberta racino operations is intended to generate proceeds to reduce this debt load. The company's market capitalization was reported as just under $31 million in mid-2026, with its stock price having declined by 58 percent over the preceding year.

Properties and Amenities

As of 2026, Century Casinos operates 12 properties across North America, with a concentration in the central and western United States and a remaining presence in Alberta. The company's venues range from historic mining town casinos in Colorado to large-scale racinos and resort destinations. Each property is designed as a comprehensive entertainment destination, offering gaming alongside dining, live entertainment, and in some cases, hotel accommodations. Century's U.S. portfolio includes the Century Casino Cripple Creek and Century Casino Central City in Colorado, both located in historic gold rush towns with limited-stakes gaming.

Century Casinos operates larger scale properties in the United States, including the Century Casino Cape Girardeau and Century Casino Caruthersville in Missouri, and the Mountaineer Casino, Racetrack and Resort in West Virginia. The company acquired the Rocky Gap Casino Resort in Maryland in 2023. The Nugget Casino Resort in Sparks, Nevada, is a property where Century owns 100 percent of the business and 50 percent of the real estate. In Canada, the company operates Century Casino Edmonton and Century Casino St. Albert in Alberta. Century Casinos also operates casinos on four cruise ships for TUI Cruises.

• Gaming Floor: Hundreds of slot machines, VLTs, and live table games including blackjack and roulette.
• Off-Track Betting: A dedicated area for wagering on horse races from across North America.
• Dining: Multiple options including the sit-down Mid City Grill and the casual Mingles Lounge.
• Live Entertainment: A dedicated venue for concerts and performances, and a Yuk Yuk's Comedy Club.
• Hotel: On-site accommodations for guests visiting the casino.
• High-Limit Room: An exclusive private salon for higher gaming limits.
• Parking: Free underground heated parking for customer convenience.

Century Casinos has previously owned or managed properties internationally and in the United States. Its former properties include the Caledon Casino in South Africa, the Century Casino Millennium in Prague, and the Century Casino Bath in England. The company also previously managed the casino at the Hilton Aruba Caribbean Resort and operated the Legends Casino at the Soboba Reservation in California. In 2026, the company announced the sale of its Century Mile and Century Downs racetrack and casino operations in Alberta.

Recent Developments and Future Outlook

The most significant recent development for Century Casinos is the strategic decision to sell its Alberta racing and gaming operations. In 2026, the company announced an agreement to sell the operating businesses of Century Mile Racetrack and Casino and Century Downs Racetrack and Casino to Highfield Investment Group for $16.4 million. This sale, representing a multiple of 6.1 times the venues' 2025 EBITDA, is expected to close in the fourth quarter of 2026 or the first quarter of 2027. The move allows Century to exit $7.5 million in annual lease payments to Vici Properties and use the proceeds to pay down debt, aligning with a strategy to focus on its U.S. portfolio.

Financially, the company is in a period of transition. While it achieved record revenue and Adjusted EBITDAR in North America in Q2 2026, it continues to report a net loss. The underperformance of its Casinos Poland investment remains a drag on consolidated results, though management has noted signs of potential improvement. The company's leadership, Co-CEOs Erwin Haitzmann and Peter Hoetzinger, have expressed commitment to improving operational efficiency, as evidenced by expanding property margins in the U.S. from 24 percent to 26 percent through disciplined expense management. The potential divestiture of its majority stake in Casinos Poland has been a topic of discussion for several years and would represent a further step in streamlining the international portfolio.

Looking forward, Century's strategy appears centred on strengthening its balance sheet and concentrating on its core U.S. markets. With the Alberta racino sales pending, the company still owns the operating businesses of Century Casino Edmonton and Century Casino St. Albert, which could be subject to future transactions as Century continues to evaluate its Canadian holdings. The overarching goal is to create a more focused and financially stable company centred on its successful properties in the United States, such as the Nugget in Nevada and its Missouri and Colorado casinos. The company will continue to work diligently at its properties to maintain strong performance throughout 2026 and beyond.

Questions about Century Casinos

Where is Century Casino Edmonton located?

Century Casino Edmonton is located at 13103 Fort Road in Edmonton, Alberta. The property is a full-service casino and hotel destination that offers a wide range of gaming options, including slots, VLTs, and table games. It also features off-track betting, multiple dining venues like the Mid City Grill, and live entertainment including a Yuk Yuk's Comedy Club. The venue provides free underground heated parking for guests visiting the facility.

What happened to Century Casino Calgary?

Century Casino Calgary was sold by Century Casinos in 2020 to local investor Naim Ali's SM2 Capital Partners. Following the sale, the casino was renamed ACE Casino Blackfoot. The new owners announced plans to relocate the casino operations to a new site at Calgary International Airport. This transaction was part of Century's earlier portfolio adjustments before its larger strategic shift to focus on U.S. markets.

Does Century Casinos have an online casino or app?

Century Casinos does not operate an online casino for real-money gaming. The company has stated it will not go online, focusing instead on its physical properties. However, Century Casinos Canada offers a mobile app for its Alberta locations. This app is designed for customer engagement, allowing users to receive exclusive offers, promotions, and updates on upcoming events at Century Casino venues, but it is not a platform for gambling.

What is a racino and which Century properties are racinos?

A racino is a combined horse racing track and casino facility. Century Casinos operated two major racinos in Alberta: Century Downs Racetrack and Casino in Balzac, near Calgary, and Century Mile Racetrack and Casino near Edmonton International Airport. Both properties offered live and simulcast horse racing alongside traditional casino games. In 2026, Century announced the sale of the racing and gaming operations of both these racinos to Highfield Investment Group.

What entertainment and dining options are at Century Casino Edmonton?

Century Casino Edmonton offers several entertainment and dining options for guests. For live comedy, it hosts a Yuk Yuk's Comedy Club, and it has a separate venue for other live performances. Dining choices include the Mid City Grill for sit-down meals and Mingles Lounge for more casual bites and drinks. These amenities complement the extensive gaming floor, which features slots, table games, and an off-track betting area, making it a comprehensive entertainment destination.

Is Century Casinos selling its Alberta casinos?

Yes, Century Casinos is in the process of selling the operations of two of its Alberta gaming venues. In 2026, the company agreed to sell the racing and gaming businesses of Century Mile Racetrack and Casino and Century Downs Racetrack and Casino to Highfield Investment Group for $16.4 million. The sale is expected to close in late 2026 or early 2027. Century still owns and operates Century Casino Edmonton and Century Casino St. Albert, though the company's strategic review could potentially include those properties in the future.

Sources and further reading

• Century Casinos (Wikipedia)
• Century Casinos, Inc. Announces Second Quarter 2026 Results (prnewswire.com)
• Century Casinos Unloading Two Alberta Gaming Venues for $16.4 ... (casino.org)
• Century Casinos Unloading Two Alberta Gaming Venues for $16.4 ... (casino.org)
• Century Casino & Hotel | Canada's Alberta (travelalberta.com)

Checked by the Nosy Mag desk. Last updated 2026-11-10.