Century Casinos, Inc. · NASDAQ:CNTY
Century Casinos — Investor Presentation (May 2022)
30 slides from Century Casinos's investor presentation, May 2022
Slide 1: Investor Presentation
INVESTOR PRESENTATION Peter Hoetzinger, Co CEO & President May 2022
Slide 2: Key Investment Highlights
Key Investment Highlights § Founded in 1992, Century Casinos is a multi-channel gaming company with focus on drive-to U.S. markets § Casinos located in attractive markets with limited new competition risk § Regional and local customer base. Majority of revenue comes from guests who live within a one
Slide 3: Multi-Channel North American Gaming Company
Multi-Channel North American Gaming Company Land-based Casinos (USA and Canada) Reno, Nevada Use land-based casinos to get more online customers. The online world and the land- based casino world co-exist successfully. Racinos and On/Off-Track Betting Give online customers a better experience and so
Slide 4: Century's Property Footprint
Century’s Property Footprint Diversified Local Gaming Footprint in Drive-to Markets 3
Slide 5: Overview of Century Properties
Overview of Century Properties Century Century Mountaineer 2 Casinos and Century Century 8 Properties Casino & Casino & Casino, 2 Racing Nugget Property Casino Cape Casino throughout Hotel Central Hotel Cripple Racetrack & Entertainment Casino Resort Girardeau Caruthersville Poland City Creek Resort
Slide 6: Diversified Gaming Company with Focus on Local and Regional U.S. Markets
Diversified Gaming Company with Focus on Local and Regional U.S. Markets Pending acquisition in Pro Forma Reno/Sparks, Nevada # of Properties 17 Properties 1 Property 18 Properties # of Slot Machines 6,282 859 7,141 # of Table Games 233 29 262 # of Hotel Rooms 430 1,382 1,812 Canada Canada 9% 7% Pol
Slide 7: Diverse Regional Exposure in Stable, Mature Gaming Markets in the U.S.
Diverse Regional Exposure in Stable, Mature Gaming Markets in the U.S. § Exposure to attractive regional markets proven to be Colorado GGR resilient throughout the pandemic – 2021 GGR levels materially up versus 2019 $811 $828 $842 $834 $976 across all markets served in the U.S. $560 – Sustainable f
Slide 8: Stable Historical Performance of Regional GGR in the U.S.
Stable Historical Performance of Regional GGR in the U.S. Stable growth since 2001 and resilient to macroeconomic changes including oil prices and CPI U.S. Regional GGR ($bn) $50.0 $ 47 $ 39 $ 40 $ 35 $ 37 $40.0 $ 32 $ 34 $ 34 $ 31 $ 30 $ 29 $ 30 $ 31 $ 31 $ 27 $ 29 $ 29 $30.0 $ 24 $ 24 $ 26 $ 22 $2
Slide 9: U.S. Operations Overview
U.S. OPERATIONS OVERVIEW
Slide 10: Colorado Region Market Overview and Asset Summary
Colorado Region Market Overview and Asset Summary Central City and Cripple Creek Asset Property Highlights Key Stats1 § Central City is located just 45 minutes west of Denver, Casino Sq. Footage 22,640 Colorado § Easily accessible from highway I-70 Slot Machines 441 § Voted Denver’s Best Casino sinc
Slide 11: Colorado Region Results
Colorado Region Results Central City and Cripple Creek Net Operating Revenue 14 ,0 12,1 12,4 12 ,0 11,3 10,3 10,4 9,4 9,5 10 ,0 8,0 6,7 6,0 4,0 2,0 2,0 0,0 Q1 Q2 Q3 Q4 20 20 20 21 20 22 Adjusted EBITDA 6,0 4,8 4,8 5,0 5,0 3,9 4,0 3,4 3,1 3,3 3,0 2,0 0,8 1,0 0,3 0,0 Q1 Q2 Q3 Q4 20 20 20 21 20 22 10
Slide 12: Missouri Region Market Overview and Asset Summary
Missouri Region Market Overview and Asset Summary Cape Girardeau and Caruthersville Asset Property Highlights Key Stats1 § Cape Girardeau is situated in downtown Cape Girardeau Casino Sq. Footage 41,530 § The property opened in October 2012 with the 13th and final gaming license in Missouri Slot Mac
Slide 13: Missouri Region Results
Missouri Region Results Cape Girardeau and Caruthersville Net Operating Revenue 40 ,0 34,1 35 ,0 31,0 28,7 29,7 28,3 30 ,0 23,9 24,5 25 ,0 21,6 20 ,0 15 ,0 9,6 10 ,0 5,0 0,0 Q1 Q2 Q3 Q4 20 20 20 21 20 22 Adjusted EBITDA 20 ,0 18 ,0 17,2 15,4 16 ,0 12,8 13,4 12,8 14 ,0 12 ,0 10,4 9,7 10 ,0 8,0 6,1 6,
Slide 14: West Virginia Region Market Overview and Asset Summary
West Virginia Region Market Overview and Asset Summary Mountaineer Casino Asset Property Highlights Key Stats1 § Mountaineer Casino is the area’s only full-service resort Casino Sq. Footage 72,380 and casino featuring world-class thoroughbred racing, an 18-hole golf course and 5,000-seat convention
Slide 15: West Virginia Region Results
West Virginia Region Results Mountaineer Casino Net Operating Revenue 35 ,0 31,7 30,6 28,4 28,7 30 ,0 26,3 25,1 23,9 24,5 25 ,0 20 ,0 15 ,0 12,2 10 ,0 5,0 0,0 Q1 Q2 Q3 Q4 20 20 20 21 20 22 Adjusted EBITDA 7,0 6,2 5,9 6,0 4,8 4,5 5,0 4,3 4,0 3,6 3,3 3,0 1,8 2,0 1,0 0,0 -1,0 -0,5 Q1 Q2 Q3 Q4 20 20 20
Slide 16: The Nugget Casino Resort, NV (Pending Acquisition)
THE NUGGET CASINO RESORT, NV (PENDING ACQUISITION)
Slide 17: Transaction Overview
Transaction Overview § On February 23, 2022, Century announced a definitive agreement with Marnell Gaming, LLC to acquire 100% of Nugget OpCo and 50% of Nugget PropCo for a total of $195mm – Represents a blended purchase price multiple of ~7.8x LTM 12/31/2021 Adj. EBITDA and is expected to close wit
Slide 18: Nugget Casino Resort Property Overview
Nugget Casino Resort Property Overview Key Highlights Property Stats § The newly remodeled Nugget Casino is conveniently Owned Land Acreage Casino Sq. Ft. located on route I-80 with easy access from the airport § The full-service resort boasts a large gaming floor, two 29 50,200 hotel towers, a conv
Slide 19: Reno-Sparks, NV Competitive Landscape
Reno-Sparks, NV Competitive Landscape 18
Slide 20: Top Reasons Why We Love the Nugget
Top 10 Reasons Why We Love the Nugget 1 EXISTING OPERATION 2 GREAT LOCATION ON I-80 Long operating history Unparalleled exposure to No development risk, no construction delays 260,000 cars daily at nearby intersection 3 CONVENTION FACILITY 4 CAPITAL IMPROVEMENTS 2nd largest facility of any Reno casi
Slide 21: Reno-Sparks Developments Driving Significant Untapped Potential in the Current Market
Reno-Sparks Developments Driving Significant Untapped Potential in the Current Market Area Highlights Reno-Sparks Average Per Room Per Day Statistics § Reno, known as the “Biggest Little City in the World” is famous for its casinos, but is also known as a $215 $222 destination for outdoor recreation
Slide 22: Continued Growth of Reno-Sparks Economy
Continued Growth of Reno-Sparks Economy Reno-Sparks Unemployment Rate 25.0 % 20.0 % 15.0 % 10.0 % 5.0 % 2.9 % 0.0 % 2016 2017 2018 2019 2020 2021 Washoe County Population Forecast Washoe County Personal Income Per Capita .94% CA GR: 3 G R : 1.04% ’21-’26 $ 87,751 ’21-’26 C A $ 84,352 559,373 $ 81,08
Slide 23: Further Growth Drivers
FURTHER GROWTH DRIVERS
Slide 24: Century is Well-Positioned for the Next Stage of Growth
Century is Well-Positioned for the Next Stage of Growth Century’s operating expertise has provided opportunities to make small yet meaningful changes that have long-term impact Recently Completed or in-Process Organic Growth Projects § Partnerships with established iGaming and sports betting operato
Slide 25: Century is Well-Positioned for the Next Stage of Growth
Century is Well-Positioned for the Next Stage of Growth Missouri Projects Caruthersville § Century purchased the neighboring two-story hotel and plans extensive renovations Caruthersville Non-Floating – The new Century hotel will be the only hotel in Facility downtown Caruthersville Rendering § Caru
Slide 26: Key Financials
KEY FINANCIALS
Slide 27: CNTY Consolidated Results
CNTY Consolidated Results 2018 – 2022 Quarterly Net Operating Revenue 140,0 116,6 120,0 107,3 103,1 100,0 92,2 95,7 87,7 84,8 80,0 72,4 67,2 60,0 52,4 52,9 40,6 45,6 39,6 36,1 43,6 45,1 40,0 20,0 0,0 Q1 Q2 Q3 Q4 2018 2019 2020 2021 2022 Adjusted EBITDA 35,0 33,1 30,0 23,8 25,2 24,9 25,0 22,2 20,0 18
Slide 28: Summary of Pro Forma Historical Financial Performance
Summary of Pro Forma Historical Financial Performance in millions Key Highlights Revenue § Stable revenue growth across Century and the Nugget with $489,1 strong recovery post-COVID $100,4 $361,2 § Consistent Adj. EBITDA growth combined with margin $307,3 expansion $56,9 $254,4 $234,8 $89,1 $85,5 $8
Slide 29: Broad Geographic and Asset Diversification
Broad Geographic and Asset Diversification No single property accounts for more than 25% of Property Adj. EBITDA § Acquisition of the Nugget significantly increases Century’s scale § 25% increase in revenue § 33% increase in Adj. EBITDA § Further diversifies earnings on geographic and property-level
Slide 30: Thank You!
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