EANS-Adhoc: Century Casinos,Inc. / Century Casinos, Inc. Announces Fourth Quarter 2010 Results (with document)

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.

31.03.2011

Colorado Springs, Colorado - March 31, 2011 - Century Casinos, Inc. (NASDAQ
Capital Market® and Vienna Stock Exchange: CNTY) today announced its financial
results for the three months and year ended December 31, 2010.

Fourth Quarter 2010 Highlights

• Net operating revenue was $15.6 million, a 29% increase from fourth

quarter of 2009. • Basic net earnings per share was $0.04, an increase from a basic net loss per share of $0.32 in the fourth quarter of 2009. |  |For the Three Months|For the Year | | |Ended December 31, |Ended December 31, | |Amounts in thousands, | | | |except share data | | | |Consolidated Results: |2010 |2009 |% |2010 |2009 |% | | | | |Chang| | |Chang| | | | |e | | |e | |Net operating revenue |$15,631|$12,131|29% |$60,692|$49,738|22% | |Operating (loss) |(367) |(9,027)|96% |1,067 |(8,370)|113% | |earnings from continuing| | | | | | | |operations | | | | | | | |Earnings (loss) from |830 |(9,220)|109% |1,022 |(12,903|108% | |continuing operations | | | | |) | | |Earnings from |- |1,582 |(100%|- |24,722 |(100%| |discontinued operations | | |) | | |) | |Net earnings (loss) |830 |(7,638)|111% |1,022 |11,819 |(91%)| |Net earnings (loss) |830 |(7,638)|111% |1,022 |10,883 |(91%)| |attributable to Century | | | | | | | |Casinos, | | | | | | | |Inc. | | | | | | | |  |  |  |  |  |  |  | |Adjusted EBITDA* |$1,367 |$1,725 |(21%)|$7,909 |$7,941 |0% | | |  |  |  |  |  |  | |Basic earnings per |  |  |  |  |  |  | |share: | | | | | | | |Earnings (Loss) from |$0.04 |$(0.39)|110% |$0.04 |$(0.55)|107% | |continuing operations | | | | | | | |Earnings from |- |- |- |- |1.01 |(100%| |discontinued operations | | | | | |) | |Net earnings (loss) |$0.04 |$(0.32)|113% |$0.04 |$0.46 |(91%)| |Weighted-average common |23,701,|23,630,|  |23,613,|23,575,|  | |shares, basic |249 |045 | |612 |709 | | |Diluted earnings per |  |  |  |  |  |  | |share: | | | | | | | |Earnings (Loss) from |$0.03 |$(0.39)|108% |$0.04 |$(0.55)|107% | |continuing operations | | | | | | | |Earnings from |- |- |- |- |1.01 |(100%| |discontinued operations | | | | | |) | |Net earnings (loss) |$0.03 |$(0.32)|109% |$0.04 |$0.46 |(91%)| |Weighted-average common |23,887,|23,630,|  |23,795,|23,575,|  | |shares, diluted |634 |045 | |358 |709 | |

*See discussion and reconciliation of Non-GAAP financial measures in Supplemental Information below.

"With net operating revenue increasing at all of our operations, we are pleased
with our overall performance for the fourth quarter, especially when
considering the North American economic environment," said Erwin Haitzmann and
Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos.

Fourth Quarter 2010 Results

Net operating revenue increased by $3.5 million, or 29%, for the three months
ended December 31, 2010 compared to the three months ended December 31, 2009.
The increase in net operating revenue is mainly attributable to the acquisition
of the Calgary property, additional revenue generated from two new cruise line
agreements, an increase in revenue in Edmonton, Central City and Cripple Creek
and additional revenue earned from our recently acquired management agreement
in Aruba.

Operating loss from continuing operations decreased by $8.7 million, or 96% to
$0.4 million for the three months ended December 31, 2010 compared to the three
months ended December 31, 2009. The improvement is due primarily to the write-
down of our equity investment in Casinos Poland of $9.0 million in 2009. In
addition, operating earnings in 2010 decreased by $0.3 million at the Century
Casino & Hotel in Edmonton. This decrease was offset by a $1.2 million gain
recognized as a bargain purchase on the acquisition of Century Casinos Calgary
and a $0.1 million increase at the Company´s Century Casino & Hotel in Central
City as a result of the increase in revenue during the three months ended
December 31, 2010. Operating earnings in 2010 remained flat at less than $0.1
million at the Company´s Century Casino & Hotel in Cripple Creek for the three
months ended December 31, 2010. Adjusted EBITDA declined $0.4 million or 21%,
to $1.4 million in the three months ended December 31, 2010 compared to the
three months ended December 31, 2009.

Basic net earnings per share ("EPS") for the three months ended December 31,
2010 was $0.04, an increase from a net loss per share of $0.32 for the three
months ended December 31, 2009. EPS from continuing operations for the three
months ended December 31, 2010 was $0.04 compared to a loss per share from
continuing operations for the three months ended December 31, 2009 of $0.39.

Year Ended 2010 Results

Net operating revenue increased by $11.0 million, or 22%, for the year ended
December 31, 2010 compared to the year ended December 31, 2009. The increase
in net operating revenue is mainly attributable to the acquisition of the
Calgary property, additional revenue generated from the two new cruise line
agreements and an increase in revenue in Edmonton, slightly offset by a
decrease in Cripple Creek.

Operating earnings from continuing operations increased by $9.4 million or
113%, for the year ended December 31, 2010 compared to the year ended December
31, 2009. The increase is due to the write-down of our equity investment in
Casinos Poland of $9.0 million in 2009and overall increases in earnings from
continuing operations in 2010. Adjusted EBITDA for the year ended December 31,
2010 remained flat at $7.9 million compared to the year ended December 31,
2009.

Basic EPS for the year ended December 31, 2010 was $0.04, compared to basic EPS
of $0.46 for the year ended December 31, 2009. EPS from continuing operations
for the year ended December 31, 2010 was $0.04 compared to a loss per share
from continuing operations for the year ended December 31, 2009 of $0.55.

Property Results (Continuing Operations)
(in thousands)

| |Net |Adjusted | | |Operating |EBITDA* | | |Revenue | | | |For the |For the | | |Three Months|Three Months| | |Ended |Ended | | |December 31,|December 31,| | |2010 |2009 |2010 |2009 | |Century Casino & |5,696 |5,635 |1,775 |2,023 | |Hotel, Edmonton | | | | | |Century Casino, |2,286 |- |(255) |- | |Calgary | | | | | |Century Casino & |4,138 |3,604 |883 |775 | |Hotel, Central | | | | | |City | | | | | |Century Casino & |2,458 |2,385 |249 |286 | |Hotel, Cripple | | | | | |Creek | | | | | |Cruise Ships |1,001 |507 |61 |102 | |Corporate |52 |- |(1,346|(1,461| | | | |) |) | |Consolidated |15,631|12,131|1,367 |1,725 | Balance Sheet and Liquidity

As of December 31, 2010, the Company had $21.5 million in cash and cash
equivalents, and $9.3 million in long-term debt obligations on its balance
sheet compared to $37.0 million in cash and cash equivalents, and $14.7 million
in long-term debt obligations at December 31, 2009.

Conference Call Information

The Company has posted the Form 10-K filed with the SEC for the year ended
December 31, 2010 on its website at www.cnty.com/corporate/investor/sec-
filings/.

Century Casinos will host its fourth quarter 2010 earnings conference call on March 31, 2011 at 10:00 am MDT; 6:00 pm CET, respectively. U.S. domestic participants should dial 1-800-894-5910. For all other international participants please use +1-785-424-1052 to dial in. Participants may also listen to the call live or obtain a recording of the call on the Company´s website at www.cnty.com/corporate/investor/financial-results/. (continued) CENTURY CASINOS, INC. AND SUBSIDIARIES FINANCIAL INFORMATION - US GAAP BASIS |  |For the three |For the year | | |months ended |ended | | |December 31, |December 31, | |Amounts in thousands, except for |2010 |2009 |2010 |2009 | |share and per share information | | | | | |Operating revenue: | | | | | | Gaming |$13,467 |$11,082 |$53,635 |$46,496 | | Hotel, bowling, food and beverage|3,193 |2,202 |11,505 |8,417 | | Other |792 |519 |2,914 |1,914 | |           Gross revenue |17,452 |13,803 |68,054 |56,827 | |Less: Promotional allowances |(1,821) |(1,672) |(7,362) |(7,089) | |Net operating revenue |15,631 |12,131 |60,692 |49,738 | |Operating costs and expenses: | | | | | | Gaming |6,573 |4,814 |24,150 |19,068 | | Hotel, bowling, food and beverage|2,632 |1,618 |9,378 |6,624 | | General and administrative |5,428 |4,336 |20,493 |17,652 | | Impairments and other write-offs,|- |8,983 |13 |8,985 | |net of recoveries | | | | | | Depreciation |1,583 |1,490 |6,125 |6,138 | |Total operating costs and expenses |16,216 |21,241 |60,159 |58,467 | |Earnings from equity investment |218 |83 |534 |359 | |Operating (loss) earnings from | | | | | |continuing operations |(367) |(9,027) |1,067 |(8,370) | |Non-operating income (expense): | | | | | | Gain on bargain purchase | |- | |- | | |1,180 | |1,180 | | | Interest income |11 |7 |50 |50 | | Interest expense | | | | | | |(313) |(340) |(1,174) |(3,773) | | Gains (losses) on foreign | |446 | |15 | |currency transactions and other |143 | |169 | | |Non-operating income (expense), net| | | | | | |1,021 |113 |225 |(3,708) | |Earnings (loss) from continuing | | | | | |operations before income taxes |654 |(8,914) |1,292 |(12,078)| |Income tax provision |(176) |306 |270 |825 | |Earnings (loss) from continuing | | | | | |operations |830 |(9,220) |1,022 |(12,903)| |Discontinued operations: | | | | | | Earnings from discontinued | |- | |2,674 | |operations |- | |- | | | Gain on disposition of Century | |- | |915 | |Casino Millennium |- | |- | | | Gain on disposition of Century | |1,582 | |21,859 | |Casinos Africa |- | |- | | | Income tax provision | |- | |726 | | |- | |- | | |Earnings from discontinued | |1,582 | |24,722 | |operations |- | |- | | |Net earnings (loss) | |(7,638) | |11,819 | | |830 | |1,022 | | |Less:    | | | | | |Net (loss) attributable to the | | | | | |noncontrolling | | | | | | interests (continuing | |- | |(42) | |operations) |- | |- | | |Net earnings attributable to the | | | | | |noncontrolling | | | | | | interests (discontinued | |- | |978 | |operations) |- | |- | | |Net earnings (loss) attributable to|$830 |($7,638)|$1,022 |$10,883 | |Century Casinos, Inc. and | | | | | |subsidiaries | | | | | CENTURY CASINOS, INC. AND SUBSIDIARIES FINANCIAL INFORMATION - US GAAP BASIS |  |For the three |For the year | | |months ended |ended | | |December 31, 2010|December 31, | |  |2010 |2009 |2010 |2009 | |Basic and diluted earnings (loss) | | | | | |per share: | | | | | | Earnings (loss) from continuing|$0.04 |($0.39) |$0.04 |($0.55) | |operations | | | | | | Earnings from discontinued | - |0.07 | - |1.01 | |operations | | | | | | Net earnings (loss) |$0.04 |($0.32) |$0.04 |$0.46 | |  | | | | | |Diluted earnings (loss) per share:| | | | | | Earnings (loss) from continuing|$0.03 |($0.39) |$0.04 |($0.55) | |operations | | | | | | Earnings from discontinued | - |0.07 | - |1.01 | |operations | | | | | | Net earnings (loss) |$0.03 |($0.32) |$0.04 |$0.46 | |  | | | | | |Earnings (loss) from continuing |$830 |($9,220)|$1,022 |($12,861| |operations | | | |) | |Earnings from discontinued | - |1,582 | - |23,744 | |operations | | | | | |Net earnings (loss) attributable |$830 |($7,638)|$1,022 |$10,883 | |to Century Casinos, Inc. and | | | | | |subsidiaries common shareholders | | | | | | | | | | | |Weighted Average Shares | | | | | |Outstanding: | | | | | |Weighted average shares basic |23,701,2|23,630,0|23,613,6|23,575,7| | |49 |45 |12 |09 | |Weighted average shares diluted |23,887,6|23,630,0|23,795,3|23,575,7| | |34 |45 |58 |09 |

|Century Casinos, Inc. | |Condensed Consolidated Balance Sheets | |(Amounts in thousands) | | |December 31,|December 31,| | |2010 |2009 | |Assets | | | |Current Assets |$23,467 |$39,627 | |Property and equipment, net |103,956 |88,241 | |Other Assets |9,303 |7,442 | |Total Assets |$136,726 |$135,310 | | | | | |Liabilities and Shareholders´ Equity | | | |Current Liabilities |$14,057 |$10,984 | |Non-Current Liabilities |11,171 |16,037 | |Shareholders´ Equity |111,498 |108,289 | |Total Liabilities and Shareholders´ |$136,726 |$135,310 | |Equity | | | CENTURY CASINOS, INC. AND SUBSIDIARIES SUPPLEMENTAL INFORMATION Century Casinos, Inc. Adjusted EBITDA Margins ** by Property (Unaudited) | |For the Three |For the Year | | |Months | | | |Ended December |Ended December | | |31, |31, | | |2010 |2009 |2010 |2009 | |Century Casino & |31% |36% |32% |35% | |Hotel, Edmonton | | | | | |Century Casino, |(11%) |- |(2%) |- | |Calgary | | | | | |Century Casino & |21% |22% |23% |24% | |Hotel, Central | | | | | |City | | | | | |Century Casino & |10% |12% |15% |18% | |Hotel, Cripple | | | | | |Creek | | | | | |Cruise Ships |6% |20% |14% |18% | |Consolidated |9% |14% |13% |16% | |Adjusted EBITDA | | | | | |Margin | | | | |

Century Casinos, Inc.
Reconciliation of Adjusted EBITDA * to Earnings (Loss) from Continuing Operations by Property (Unaudited)
For the Three Months Ended December 31, 2010

Amounts in thousands

| |Three Months Ended December 31, 2010 | | |Edmonto|Calga|Centra|Crippl|Cruise|Corpor|Total| | |n |ry |l City|e |Ships |ate | | | | | | |Creek | | | | |Earnings (loss) from |$1,067 |$871 |$106 |($19) |($42) |($1,15|$830 | |continuing operations| | | | | |3) | | |Interest income |(2) |- |- |- |- |(9) |(11) | |Interest expense |309 |- |- |- |- |4 |313 | |Income taxes |28 |(43) |52 |(11) |(2) |(200) |(176)| |Depreciation |360 |87 |675 |278 |105 |78 |1,583| |Stock compensation |- |- |- |- |- |96 |96 | |Foreign currency |13 |10 |- |- |- |(166) |(143)| |Gain on bargain |- |(1,18|- |- |- |- |(1,18| |purchase | |0) | | | | |0) | |Disposition of fixed |- |- |50 |1 |- |4 |55 | |assets | | | | | | | | |Adjusted EBITDA* |$1,775 |($255|$883 |$249 |$61 |($1,34|$1,36| | | |) | | | |6) |7 | | |  | | |Three Months Ended December 31, 2009 | | |Edmonto|Calga|Centra|Crippl|Cruise|Corpor|Total| | |n |ry |l City|e |Ships |ate | | | | | | |Creek | | | | |Earnings (loss) from |$958 |- |$58 |$(21) |$11 |($10,2|($9,2| |continuing operations| | | | | |26) |20) | |Interest income |(6) |- |- |- |- |(1) |(7) | |Interest expense |298 |- |21 |1 |- |20 |340 | |Income taxes |411 |- |25 |(14) |- |(116) |306 | |Depreciation |345 |- |671 |315 |91 |68 |1,490| |Stock compensation |- |- |- |- |- |238 |238 | |Foreign currency |17 |- |- |- |- |(423) |(406)| |Impairments and other|- |- |- |5 |- |8,978 |8,983| |write-offs | | | | | | | | |Disposition of fixed |- |- |- |- |- |1 |1 | |assets | | | | | | | | |Adjusted EBITDA* |$2,023 |- |$775 |$286 |$102 |($1,46|$1,72| | | | | | | |1) |5 |

CENTURY CASINOS, INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION
Century Casinos, Inc.
Reconciliation of Adjusted EBITDA * to Earnings (Loss) from Continuing Operations by Property (Unaudited)
For the Year Ended December 31, 2010

Amounts in thousands

| |Year Ended December 31, 2010 | | |Edmonto|Calga|Centra|Crippl|Cruise|Corpor|Total | | |n |ry |l City|e |Ships |ate | | | | | | |Creek | | | | |Earnings (loss) from |$4,148 |$266 |$821 |$257 |$53 |($4,52|$1,022| |continuing operations| | | | | |3) | | |Interest income |(22) |(1) |- |- |- |(27) |(50) | |Interest expense |1,166 |- |- |- |- |8 |1,174 | |Income taxes |133 |441 |454 |158 |2 |(918) |270 | |Depreciation |1,406 |272 |2,698 |1,150 |357 |242 |6,125 | |Stock compensation |- |- |- |- |- |482 |482 | |Foreign currency |31 |9 |- |- |- |(110) |(70) | |Gain on bargain |- |(1,18|- |- |- |- |(1,180| |purchase | |0) | | | | |) | |Impairments and other|10 |- |- |4 |- |(1) |13 | |write-offs | | | | | | | | |Disposition of fixed |9 |- |51 |2 |- |61 |123 | |assets | | | | | | | | |Adjusted EBITDA* |$6,881 |($193|$4,024|$1,571|$412 |($4,78|$7,909| | | |) | | | |6) | | | |  | | |Year Ended December 31, 2009 | | |Edmonto|Calga|Centra|Crippl|Cruise|Corpor|Total | | |n |ry |l City|e |Ships |ate | | | | | | |Creek | | | | |Earnings (loss) from |$3,311 |- |($734)|$241 |$56 |($15,7|($12,9| |continuing operations| | | | | |77) |03) | |Interest income |(10) |- |(1) |- |- |(39) |(50) | |Interest expense |1,121 |- |2,329 |144 |- |179 |3,773 | |Income taxes |1,327 |- |(498) |147 |1 |(152) |825 | |Depreciation |1,304 |- |2,894 |1,361 |311 |268 |6,138 | |Stock compensation |- |- |- |- |- |1,101 |1,101 | |Foreign currency |75 |- |- |- |- |(20) |55 | |Impairments and other|- |- |- |5 |- |8,980 |8,985 | |write-offs | | | | | | | | |Disposition of fixed |- |- |3 |- |- |14 |17 | |assets | | | | | | | | |Adjusted EBITDA* |$7,128 |0 |$3,993|$1,898|$368 |($5,44|$7,941| | | | | | | |6) | |

CENTURY CASINOS, INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION

* The Company defines Adjusted EBITDA as earnings (loss) from continuing
operations before interest, income taxes, depreciation, amortization, pre-
opening expenses, non-cash stock based compensation charges, asset impairment
costs, gains (losses) on disposition of fixed assets, discontinued operations,
realized foreign currency gains (losses) and certain other one-time items.
Intercompany transactions consisting primarily of management fees and interest,
along with their related tax effects, are excluded from the presentation of net
earnings and Adjusted EBITDA reported for each property. These adjustments have
no effect on the consolidated results. Adjusted EBITDA is not considered a
measure of performance recognized under accounting principles generally
accepted in the United States of America. Management believes that Adjusted
EBITDA is a valuable measure of the relative performance among its operating
segments. 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. EBITDA (Earnings
before interest, taxes, depreciation and amortization) 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. Please see the reconciliation of
Adjusted EBITDA to earnings (loss) from continuing operations above. Not all of
the aforementioned items occur in each reporting period, but have been included
in the definition based on historical activity.

** 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
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 eleven luxury cruise
vessels (Regatta, Insignia, Nautica, Marina, Mein Schiff 1, Wind Surf, Wind
Star, Wind Spirit, Seven Seas Voyager, Seven Seas Mariner and Seven Seas
Navigator) and signed contracts for casinos on two additional ships (Oceania
Cruises´ Riviera and TUI Cruises´ Mein Schiff 2) that are expected to start
operations in the coming months. Through its Austrian subsidiary, Century
Casinos Europe GmbH, the Company holds a 33.3% ownership interest in Casinos
Poland Ltd., the owner and operator of seven full casinos in Poland. The
Company also manages the casino at the Radisson Aruba Resort, Casino & Spa in
Aruba, Caribbean. 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 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, expected competition, the impact of new gaming
laws, plans for our casinos and the impact of the economic downturn. 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 sections
entitled "Risk Factors" under Item 1A in our Annual Report on Form 10-K filed
on March 31, 2011. 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:
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http://resources.euroadhoc.com/us/b9BXLi3F

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

Rückfragen & Kontakt:

Century Casinos Europe GmbH
Mag. Peter Hötzinger, CO-CEO
Tel.:0664/3553935
peter.hoetzinger@cnty.com
http://www.cnty.com

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