What are the investment strengths of Century Casinos Inc (CNTY)?

Operating margin 8.5% TTM near industry median (8.2%) shows core ops viable if debt restructured P/S of 0.07x is 95% below industry median (1.48x) - extreme discount if company survives

What are the investment risks for Century Casinos Inc (CNTY)?

Debt/EBITDA of 16.7x (1.08B/64.6M) vs typical 3-4x covenant levels - likely in violation Negative FCF (-28.2M TTM) with 77.7M cash = ~2.7 years runway before insolvency absent action

Century Casinos Inc

CNTY

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Century Casinos Inc AI Insights

Informational only. Not investment advice.

As of 2025-12-10

Snapshot

Negative equity (-78.6M) with debt 27x market cap (1.08B vs 40M) - balance sheet in distress[Total Debt / Market Cap]
Interest expense (104.6M TTM) exceeds EBITDA (64.6M) by 62% - unsustainable debt service[Interest Expense TTM]
EV/Revenue of 1.8x masks 963M net debt on 573M revenue - equity nearly worthless[Enterprise Value]

Watch Triggers

Cash and Equivalents: Falls below 50M — Liquidity crisis imminent; forces restructuring or dilutive raise
Interest Expense TTM: Any refinancing announcement — Rate reduction from 9.7% could restore FCF breakeven
Total Debt: Asset sale proceeds applied — 940M PPE provides collateral for partial deleveraging

Bull Case

Operating margin 8.5% TTM near industry median (8.2%) shows core ops viable if debt restructured

Operating Margin TTMEBITDA TTM

P/S of 0.07x is 95% below industry median (1.48x) - extreme discount if company survives

P/S RatioEnterprise Value

Bear Case

Debt/EBITDA of 16.7x (1.08B/64.6M) vs typical 3-4x covenant levels - likely in violation

Total DebtEBITDA TTM

Negative FCF (-28.2M TTM) with 77.7M cash = ~2.7 years runway before insolvency absent action

Free Cash Flow TTMCash and Equivalents

Bull vs Bear Balance

AI-generated sentiment analysis based on fundamental metrics and market conditions.

20%

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Forward Thesis

Without debt restructuring or asset sales, equity faces high dilution or wipeout risk

3-12mhigh

Interest expense 163% of operating income TTM
Negative FCF (-28.2M TTM) depleting cash
Only 77.7M cash vs 1.08B debt

Net income -108M TTM on 573M revenueBook value per share -$2.62Current debt 8M coming due

Valuation Context

Caveats

Public Strategies Rankings

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CNTY Fundamentals

Arts, Entertainment, and Recreation → Amusement, Gambling, and Recreation Industries

Metric	Value	YoY Growth	Industry Percentile
Market Cap	$0		—
Enterprise Value	$0		—
P/E Ratio	0.00		—
Total Revenue - TTM	$572.98M	-0.5%	—
Earnings Per Share (diluted) - TTM	$0.00		—
Operating Margin - TTM	8.95%	+0.6%	—
Net Margin - TTM	-10.7%	+16.0%	—
Free Cash Flow - TTM	$-15.94M		—
Return on Common Equity - TTM	0%		—
Beta 5Y (Monthly)	unknown		—

CNTY Dividend History

No dividends

CNTY Stock Splits

No stock splits

CNTY SEC Filings

Filing Date	Report Date	Report Type	Filing Link
03/18/26	12/31/25	10-K	0000911147-26-000009
11/14/25	09/30/25	10-Q	0000911147-25-000063
11/14/25	06/30/25	10-Q/A	0000911147-25-000061
08/07/25	06/30/25	10-Q	0000911147-25-000033
11/14/25	03/31/25	10-Q/A	0000911147-25-000059
05/12/25	03/31/25	10-Q	0000911147-25-000023
11/14/25	12/31/24	10-K/A	0000911147-25-000056
03/13/25	12/31/24	Unknown	0000911147-25-000010
11/04/24	09/30/24	10-Q	0000911147-24-000059
11/14/25	06/30/24	10-Q/A	0000911147-25-000061
08/08/24	06/30/24	10-Q	0000911147-24-000051
11/14/25	03/31/24	10-Q/A	0000911147-25-000059
05/09/24	03/31/24	10-Q	0000911147-24-000043
11/14/25	12/31/23	10-K/A	0000911147-25-000056
03/14/24	12/31/23	10-K	0000911147-24-000010
11/09/23	09/30/23	10-Q	0000911147-23-000085
08/08/23	06/30/23	10-Q	0000911147-23-000057
05/09/23	03/31/23	10-Q	0000911147-23-000038
03/10/23	12/31/22	10-K	0000911147-23-000008
11/14/25	12/31/22	10-K/A	0000911147-25-000056
11/04/22	09/30/22	10-Q	0000911147-22-000067
08/05/22	06/30/22	10-Q	0000911147-22-000053
05/06/22	03/31/22	10-Q	0000911147-22-000041
03/08/22	12/31/21	10-K	0000911147-22-000008
11/05/21	09/30/21	10-Q	0000911147-21-000051
08/06/21	06/30/21	10-Q	0000911147-21-000036
05/07/21	03/31/21	10-Q	0000911147-21-000024
03/12/21	12/31/20	10-K	0000911147-21-000010
11/06/20	09/30/20	10-Q	0000911147-20-000091
08/07/20	06/30/20	10-Q	0000911147-20-000077
05/20/20	03/31/20	10-Q	0000911147-20-000047
03/13/20	12/31/19	10-K	0000911147-20-000011
11/04/19	09/30/19	10-Q	0000911147-19-000044
08/08/19	06/30/19	10-Q	0000911147-19-000030
05/09/19	03/31/19	10-Q	0000911147-19-000016
03/11/19	12/31/18	10-K	0000911147-19-000008
11/07/18	09/30/18	10-Q	0000911147-18-000053
08/08/18	06/30/18	10-Q	0000911147-18-000042
05/09/18	03/31/18	10-Q	0000911147-18-000022
03/09/18	12/31/17	10-K	0000911147-18-000007
11/06/17	09/30/17	10-Q	0000911147-17-000062
08/07/17	06/30/17	10-Q	0000911147-17-000056
05/05/17	03/31/17	10-Q	0000911147-17-000044
03/10/17	12/31/16	10-K	0000911147-17-000006
11/01/16	09/30/16	10-Q	0000911147-16-000134
08/05/16	06/30/16	10-Q	0000911147-16-000124
05/06/16	03/31/16	10-Q	0000911147-16-000111
03/11/16	12/31/15	10-K	0000911147-16-000101
11/06/15	09/30/15	10-Q	0000911147-15-000054
08/07/15	06/30/15	10-Q	0000911147-15-000034
05/08/15	03/31/15	10-Q	0000911147-15-000021
03/16/15	12/31/14	10-K	0000911147-15-000008
11/14/14	09/30/14	10-Q	0000911147-14-000041
08/14/14	06/30/14	10-Q	0000911147-14-000022
05/15/14	03/31/14	10-Q	0000911147-14-000013
03/31/14	12/31/13	10-K	0000911147-14-000005
11/14/13	09/30/13	10-Q	0000911147-13-000037
08/14/13	06/30/13	10-Q	0000911147-13-000025
05/15/13	03/31/13	10-Q	0000911147-13-000015
03/28/13	12/31/12	10-K	0000911147-13-000004
11/07/12	09/30/12	10-Q	0000911147-12-000023
08/08/12	06/30/12	10-Q	0000911147-12-000017
05/04/12	03/31/12	10-Q	0000911147-12-000011
03/29/12	12/31/11	10-K	0000911147-12-000003
11/08/11	09/30/11	10-Q	0000911147-11-000022
08/12/11	06/30/11	10-Q	0000911147-11-000018
05/13/11	03/31/11	10-Q	0000911147-11-000011
03/31/11	12/31/10	10-K	0000911147-11-000003
11/09/10	09/30/10	10-Q	0000911147-10-000027
08/09/10	06/30/10	10-Q	0000911147-10-000022
05/10/10	03/31/10	10-Q	0000911147-10-000015
03/15/10	12/31/09	10-K	0000911147-10-000005
11/09/09	09/30/09	10-Q	0000911147-09-000025
08/10/09	06/30/09	10-Q	0000911147-09-000019
05/11/09	03/31/09	10-Q	0000911147-09-000010
12/31/08	12/31/08	Unknown	--
09/30/08	09/30/08	Unknown	--
06/30/08	06/30/08	Unknown	--
03/31/08	03/30/08	Unknown	--
12/31/07	12/31/07	ARS	9999999997-08-022068
09/30/07	09/30/07	Unknown	--
06/30/07	06/30/07	Unknown	--
03/31/07	03/30/07	Unknown	--
12/31/06	12/31/06	Unknown	--
09/30/06	09/30/06	Unknown	--
06/30/06	06/30/06	Unknown	--
03/31/06	03/30/06	Unknown	--
03/10/06	12/31/05	10-K	0001140361-06-003640
09/30/05	09/30/05	Unknown	--
06/30/05	06/30/05	Unknown	--
05/10/05	03/31/05	NT 10-K	0000911147-05-000014
04/18/05	12/31/04	10-K	0000911147-05-000024
10/29/04	09/30/04	10-Q	0000911147-04-000034
07/29/04	06/30/04	10-Q	0000911147-04-000018
05/14/04	03/30/04	Unknown	--
03/10/04	12/31/03	10-K	0000911147-04-000003
10/29/03	09/30/03	10-Q	0000911147-03-000031
08/13/03	06/30/03	10-Q	0000911147-03-000025
05/12/03	03/30/03	Unknown	--
03/13/03	12/31/02	10-K	0000911147-03-000003
11/04/02	09/30/02	10-Q	0000911147-02-000015
07/26/02	06/30/02	10-Q	0000911147-02-000011
04/30/02	03/30/02	Unknown	--
12/31/01	12/31/01	10KSB	0000911147-02-000002
09/30/01	09/30/01	4	0001140361-01-500144
06/30/01	06/30/01	10QSB	0000911147-01-500004
03/31/01	03/30/01	Unknown	--
12/31/00	12/31/00	4	0001015402-01-000061
09/30/00	09/30/00	10QSB	0000911147-00-000009
06/30/00	06/30/00	10QSB	0000911147-00-000007
03/31/00	03/30/00	Unknown	--