Century Casinos, Inc. · NASDAQ:CNTY
Century Casinos — Investor Presentation (March 2020)
25 slides from Century Casinos's investor presentation, March 2020
Slide 1: Century Casinos, Inc. Investor Presentation
Century Casinos, Inc. (NASDAQ: CNTY) Investor Presentation Peter Hoetzinger – Co CEO & President, Co Founder, Vice Chairman March 2020
Slide 2: Company Overview
Company Overview Property Statistics Market Central City, CO • Founded in 1992, Century Casinos is a developer and operator of Year Built / Acquired 2006 mid-market, mid-size casinos Gaming Square Feet 22,350 Gaming Machines 465 • Focus on entertainment with gaming and attractive non-gaming faciliti
Slide 3: Century Casinos Key Milestones
Century Casinos Key Milestones Century Casinos, Inc. founded Acquired St. Raised equity Acquired Womack’s Albert Casino capital in follow-on Opened Acquired Century Increased ownership in Edmonton, Saloon and Gaming offering, in part to Century Mile Parlor in Cripple Creek, Casino in Calgary, of Cas
Slide 4: Investment Highlights
Investment Highlights Developer, owner and operator of mid-size regional casinos with focus on North America Existing and new casinos located in attractive markets with limited new competition risk Successful track record of accretive casino developments and acquisitions Longstanding management team
Slide 5: Update – Coronavirus COVID-19
Update – Coronavirus COVID-19 No significant impact to date in the US and Canada, some impact in Poland Following recommendations from US Centers for Disease Control and Prevention Prepared to control what we can control Operational considerations (realistic guest messaging, stepped-up training, str
Slide 6: Gaming Markets
Gaming Markets Colorado, Missouri, West Virginia (USA) Edmonton and Calgary (CAN), Poland (EUR) Note: EBITDA figures include adjustments for stock based compensation and corporate overhead allocation. Financial lease expenses (rent to VICI and rent at Century Downs) not included.
Slide 7: Colorado – Competitive Landscape
Colorado Competitive Landscape Pop. per sq. mile 1 Central City > 1,000 Boulder 500 – 1,000 2 Black Hawk 200 – 500 50 – 200 3 Cripple Creek Cripple Creek < 50 1 2 Denver 3 Colorado Springs Source: ArcGIS. PAGE 6
Slide 8: Colorado
Colorado Century Casino & Hotel – Central City Century Casino & Hotel – Cripple Creek Statistics Revenue ($MM) Number of Properties 2 $33.5 $33.9 Gaming Square Feet 41,950 $32.2 $30.1 Gaming Machines 908 Table / Poker Games 13 Hotel Rooms 47 Restaurants 3 restaurants, 3 bars A A A A 16 17 18 19 20 2
Slide 9: Colorado Sports Betting
Colorado Sports Betting voted in November 5, 2019 • Retail sports books at casinos • Online / mobile licenses • 10% tax on revenue • We have three casino licenses in Colorado, allowing us to operate three retail sports books and three online / mobile applications • Agreements with experienced partne
Slide 10: Missouri – Competitive Landscape
Missouri Competitive Landscape Pop. per sq. mile ST. LOUIS 1 > 1,000 ILLINOIS 500 – 1,000 2 200 – 500 4 3 50 – 200 5 JOHNSTON CITY EVANSVILLE 3 2 < 50 ive dr 4 hr .3 (1) MISSOURI ~1 5 1 CAPE GIRARDEAU 3 BOWLING GREEN KENTUCKY 50 miles 100 miles CLARKVILLE CARUTHERSVILLE NASHVILLE 2 ARKANSAS JONESBOR
Slide 11: Missouri
Missouri Century Casino Cape Girardeau Century Casino Caruthersville Statistics Revenue ($MM) Number of Properties 2 Gaming Square Feet 62,500 $96.1 $97.3 $95.9 $94.3 Gaming Machines 1,364 Table / Poker Games 33 Hotel Rooms NA Restaurants 5 restaurants, 2 bars A A A A 16 17 18 19 20 20 20 20 e reven
Slide 12: West Virginia – Competitive Landscape
West Virginia Competitive Landscape Pop. per sq. mile > 1,000 500 – 1,000 200 – 500 50 – 200 2 < 50 10 Source: ArcGIS. PAGE 11
Slide 13: West Virginia
West Virginia Mountaineer Resort, Casino, Racetrack Revenue ($MM) Statistics Earlier decline driven by smoking ban (2015), which was reversed in October 2018 Number of Properties 1 Gaming Square Feet 75,500 $136.6 $128.4 $123.3 $126.3 Gaming Machines 1,132 Table / Poker Games 42 Hotel Rooms 357 Rest
Slide 14: Edmonton (Canada) – Competitive Landscape
Edmonton (Canada) Competitive Landscape 1 Century Casino & Hotel 2 Century Casino St. Albert 3 Century Mile 15 miles 4 Casino Yellowhead 2 5 Grand Villa Casino 6 Starlight Casino 7 River Cree Resort 1 8 Pure Casino Edmonton 4 5 Edmonton 6 7 8 3 PAGE 13
Slide 15: Edmonton (Canada)
Edmonton (Canada) Century Casino & Hotel Edmonton Century Casino St. Albert Century Mile Racetrack & Casino Statistics Revenue (MM) Number of Properties 3 C$64.8 Gaming Square Feet 89,700 $48.8 Gaming Machines 1,864 C$38.9 C$39.3 C$31.3 $30.0 $30.3 Table / Poker Games 46 $23.6 Hotel Rooms 26 Restaur
Slide 16: Calgary (Canada) – Competitive Landscape
Calgary (Canada) Competitive Landscape 50 miles 1 Century Downs 2 Century Casino Calgary 3 Pure Casino Calgary 4 Cowboys Casino 5 Elbow River Casino 1 6 Cash Casino 10 miles 7 Grey Eagle 8 Deerfoot Inn & Casino Calgary 3 5 4 6 2 7 8 PAGE 15
Slide 17: Calgary (Canada)
Calgary (Canada) Century Downs Racetrack & Casino Century Casino Calgary Statistics Revenue (MM) Number of Properties 2 Gaming Square Feet 51,000 C$40.3 C$42.2 C$35.3 C$35.9 Gaming Machines 1,122 $31.1 $31.8 $26.6 $27.8 Table / Poker Games 16 Hotel Rooms NA Restaurants 2 restaurants, 2 bars A A A A
Slide 18: Poland (Europe) – Competitive Landscape
Poland (Europe) Competitive Landscape • Population 38.4 MM 1 Marriot Warsaw • GDP growth 5.3% 1 Hilton Warsaw • Limited number of licenses 1 Wawa Casino at LIM Center 2 Hotel President Bielsko – Biala ~200 miles 3 Park Inn Katowice 4 Dwor Kosciuszko Krakow 5 Double Tree Wroclaw 6 Manufaktura Enterta
Slide 19: Casinos Poland Ltd.
Casinos Poland Ltd. 2/3 Ownership, 1/3 held by State Statistics Revenue (MM) Number of Properties 8 Number of Properties 8 Gaming Square Feet 68,000 P$314.3 Gaming Square Feet 68,000 P$246.7 Gaming Machines 523 P$225.5 Gaming Machines 523 P$216.5 Table / Poker Games 118 Table / Poker Games 118 Hotel
Slide 20: Diversified Regional Gaming Company with Focus on North America
Diversified Regional Gaming Company with Focus on North America New Acquisition Pro-forma # of Properties 15 Properties (1) 3 Properties 18 Properties # of Slot Machines 4,459 (2) 2,726 7,185 (2) # of Table Games 210 (2) 75 285 (2) # of Hotel Rooms 73 357 430 US International International 23% 7% Pr
Slide 21: Net Operating Revenue per Quarter (in USD MM)
Net Operating Revenue per Quarter (in USD MM) PAGE 20
Slide 22: Income Statement (selected information in USD MM)
Income Statement (selected information in USD MM) Q4 2019 Q4 2018 Change Net Operating Revenue 67.2 45.1 49% Adj. EBITDA 9.8 5.8 69% FY 2019 FY 2018 Change Net Operating Revenue 218.2 168.9 29% Adj. EBITDA 30.3 23.4 30% Note: Financial lease expenses (rent to VICI and rent at Century Downs) are incl
Slide 23: Historical Capex Detail
Historical Capex Detail Commentary Maintenance Capex ($MM) l Maintenance Capex $11 $10 — Well maintained asset base requires minimal levels of maintenance capital expenditures to sustain $8 $7 $6 $4 current levels of revenue and profitability — The Alberta Gaming, Liquor and Cannabis $5 Commission p
Slide 24: Pro-forma Combined Financials (LTM ended 12/31/19)
Pro-forma Combined Financials (LTM ended 12/31/19) Net Revenue $ 423 MM Adj. EBITDA $ 79 MM (1) Net Revenue and Adj. EBITDA drivers: ü Organic growth at all US properties ü Century Mile ramping ü Century Downs expanding ü Sports betting in Colorado ü Termination of Bath (UK) operation Net Debt $ 134
Slide 25: Thank you!
Century Casinos, Inc. (NASDAQ: CNTY) Thank you!