Century Casinos, Inc. · NASDAQ:CNTY
Century Casinos — Investor Presentation (December 2019)
31 slides from Century Casinos's investor presentation, December 2019
Slide 1: Century Casinos, Inc. Investor Presentation
Century Casinos, Inc. (NASDAQ: CNTY) Investor Presentation Peter Hoetzinger – Co CEO, Co Founder, Vice Chairman December 2019
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 Increased ownership capital in follow-on Opened Saloon and Gaming Acquired Century in Edmonton, of Casinos Poland, offering, in part to Century Mile Parlor in Cripple Creek, Casino
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: Gaming Markets
Gaming Markets Colorado (USA), Alberta (CAN), Poland (EUR)
Slide 6: Colorado
Colorado Competitive Landscape Pop. per sq. mile Central City Boulder 1 Central City > 1,000 # of Casinos 6 500 – 1,000 2 Black Hawk 200 – 500 # of Slot Machines 2,020 50 – 200 3 Cripple Creek # of Table Games 21 < 50 2018 Casino Revenue ($MM) $79 Black Hawk 1 # of Casinos 15 2 # of Slot Machines 7,
Slide 7: Century Casino & Hotel – Central City
Colorado Century Casino & Hotel – Central City Revenue ($MM) Property Statistics Market Central City, CO Year Built / Acquired 2006 $19,2 $19,7 $20,0 $18,0 Gaming Square Feet 22,350 Gaming Machines 465 Table / Poker Games 7 Hotel Rooms 26 Restaurants 2 restaurants, 1 bar A A A 9 /1 16 17 18 30 20 20
Slide 8: Century Casino & Hotel – Cripple Creek
Colorado Century Casino & Hotel – Cripple Creek Revenue ($MM) Property Statistics Market Cripple Creek, CO $13,8 $14,0 Year Built / Acquired 1996 $12,9 $12,2 Gaming Square Feet 19,600 Gaming Machines 443 Table / Poker Games 6 Hotel Rooms 21 Restaurants 1 restaurant, 2 bars A A A 9 /1 16 17 18 30 20
Slide 9: Colorado Sports Betting
Colorado Sports Betting voted in on November 5 • 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 partners
Slide 10: Canada (Edmonton)
Canada (Edmonton) Competitive Landscape 1 Century Casino Edmonton 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 9
Slide 11: Century Casino & Hotel Edmonton
Canada Century Casino & Hotel Edmonton Revenue (MM) Property Statistics Market Edmonton, Alberta, Canada C$28,6 C$27,5 C$27,4 C$27,5 Year Built / Acquired 2006 $21,6 $21,2 $21,1 $20,7 Gaming Square Feet 31,500 Gaming Machines 829 Table / Poker Games 35 Hotel Rooms 26 A A A 9 /1 16 17 18 30 Restauran
Slide 12: Century Casino St. Albert
Canada Century Casino St. Albert Revenue (MM) Property Statistics Market Edmonton, Alberta, Canada Year Built / Acquired 2016 C$11,8 C$12,3 C$11,4 $9,1 $9,3 Gaming Square Feet 13,600 $8,8 Gaming Machines 431 C$2,7 $2,0 Table / Poker Games 11 Hotel Rooms NA A A A 9 /1 16 17 18 30 Restaurants 1 restau
Slide 13: Century Mile Racetrack & Casino
Canada Century Mile Racetrack & Casino Revenue (MM)(1) Property Statistics Market Edmonton, Alberta, Canada Year Built / Acquired 2019 Gaming Square Feet 44,600 C$18,9 $14,2 Gaming Machines 604 Table / Poker Games NA Hotel Rooms NA A A A 9 /1 16 17 18 30 Restaurants 2 restaurants, 2 bars 20 20 20 9/
Slide 14: Canada (Calgary)
Canada (Calgary) Competitive Landscape 50 miles 1 Century Downs Casino 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 13
Slide 15: Century Casino Calgary
Canada Century Casino Calgary Revenue (MM) Property Statistics Market Calgary, Alberta, Canada C$10,6 C$11,0 C$10,1 C$9,9 Year Built / Acquired 2010 $8,2 $8,3 $7,6 $7,7 Gaming Square Feet 20,000 Gaming Machines 524 Table / Poker Games 16 Hotel Rooms NA A A A 9 /1 16 17 18 30 Restaurants 1 restaurant
Slide 16: Century Downs Racetrack & Casino
Canada Century Downs Racetrack & Casino Revenue (MM) Property Statistics Market Calgary, Alberta, Canada C$28,2 Year Built / Acquired 2015 C$26,4 C$21,2 C$22,6 $21,2 $20,4 Gaming Square Feet 31,000 $16,0 $17,4 Gaming Machines 598 Table / Poker Games NA Hotel Rooms NA A A A 9 /1 16 17 18 30 Restauran
Slide 17: Century Downs – Expansion of gaming floor by 20%
Canada Century Downs Racetrack & Casino – Expansion of gaming floor by 20% Century Downs Expansion 20% increase of gaming floor Up to add. 120 slots, one new bar Total capex USD 1 mil Expansion opened Expected add. EBITDA/year: USD 1-1.5 onmil November 22 Opening on November 22 PAGE 16
Slide 18: Poland (Europe)
Poland (Europe) Population 38.4 million, GDP growth 5.3%, Limited number of casino licenses PAGE 17
Slide 19: Poland Casino Portfolio and Financials
Poland (Europe) Casino Portfolio and Financials Hotel Dwor Manufaktura Marriott Hilton Park Inn DoubleTree President Kosciuszko Entertainment Warsaw Warsaw Katowice Wroclaw Bielsko - Biala Krakow Lodz Population 1.7MM 1.7MM 170k 300k 630k 750k 750k Total Square Feet 12,500 21,800 1,900 5,700 13,500
Slide 20: Acquisition of Three Casino Operations from Eldorado
Acquisition of Three Casino Operations from Eldorado
Slide 21: Transaction Overview
Transaction Overview ● Century acquired three casinos from Eldorado for $385MM, in conjunction with VICI Properties Consideration ● The three casinos are the Isle Casino Cape Girardeau, Lady Luck Casino Caruthersville and Mountaineer Casino, Racetrack and Resort ● Century acquired the operations of
Slide 22: Missouri – Cape Girardeau Competitive Landscape
Missouri Cape Girardeau Competitive Landscape Pop. per sq. mile ST. LOUIS > 1,000 ILLINOIS 500 – 1,000 200 – 500 1 3 50 – 200 4 EVANSVILLE 2 < 50 ive dr JOHNSTON CITY 3 hr .3 (1) ~1 MISSOURI 4 1 BOWLING GREEN KENTUCKY 50 miles 100 miles CLARKVILLE NASHVILLE 2 ARKANSAS JONESBORO JACKSON TENNESSEE MEM
Slide 23: Isle Casino Cape Girardeau
Missouri Isle Casino Cape Girardeau Revenue ($MM) Property Statistics Market Cape Girardeau, Missouri $62,4 $63,1 $61,1 $58,9 Year Built 2012 Gaming Square Feet 41,500 Gaming Machines 851 Table / Poker Games 24 Hotel Rooms NA Restaurants 3 restaurants, 1 bar A A A 9 /1 16 17 18 30 20 20 20 9/ M LT E
Slide 24: Missouri – Caruthersville Competitive Landscape
Missouri Caruthersville Competitive Landscape Pop. per sq. mile > 1,000 ILLINOIS 1 Caruthersville 500 – 1,000 MISSOURI 200 – 500 3 50 – 200 1 1 100 miles KENTUCKY < 50 SIKESTON 2 50 miles 3 CLARKSVILLE NASHVILLE JONESBORO TENNESSEE JACKSON ARKANSAS 2 MEMPHIS MISSISSIPPI ALABAMA Source: ArcGIS. PAGE
Slide 25: Lady Luck Caruthersville
Missouri Lady Luck Caruthersville Revenue ($MM) Property Statistics Market Caruthersville, MO $34,6 $34,4 $34,8 $34,7 Year Built 1995 Gaming Square Feet 21,000 Gaming Machines 513 Table / Poker Games 9 Hotel Rooms NA Restaurants 2 restaurants, 1 bar A A A 9 /1 16 17 18 30 20 20 20 9/ M LT EBITDAR ($
Slide 26: West Virginia – Mountaineer Competitive Landscape
West Virginia Mountaineer Competitive Landscape Pop. per sq. mile > 1,000 500 – 1,000 8 6 CLEVELAND 1 6 200 – 500 50 – 200 5 < 50 STRONGSVILLE PENNSYLVANIA 2 7 Nemacolin 3 8 AKRON 3 YOUNGSTOWN 4 5 CANTON MANSFIELD 100 miles 50 miles 4 ALTOONA OHIO PITTSBURGH 2 COLUMBUS 1 10 7 MORGANTOWN WEST VIRGINI
Slide 27: Mountaineer Resort, Casino, Racetrack
West Virginia Mountaineer Resort, Casino, Racetrack Revenue ($MM) Property Statistics Recent decline driven by smoking ban (2015), which was reversed in October 2018 Market New Cumberland, WV $136,6 $128,4 $123,3 $125,0 Year Built 1951 Gaming Square Feet 75,500 Gaming Machines 1,362 Table / Poker Ga
Slide 28: Historical Financial Performance
Historical Financial Performance Eldorado has implemented a cost reduction strategy across all of its casinos, which has resulted in flat revenue and increasing EBITDA Revenue ($MM) Property EBITDAR ($MM) $234 $55 $226 $219 $219 $49 $45 $21 $41 $17 $137 $128 $123 $125 $16 $13 $13 $12 $11 $11 $35 $34
Slide 29: 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% 17
Slide 30: Pro-forma Combined Financials (LTM ended 9/30/19)
Pro-forma Combined Financials (For LTM ended 9/30/19) Net Revenue $ 415 MM Adj. EBITDA $ 57 MM Net Revenue and Adj. EBITDA growth drivers ü Century Mile ramping ü Century Downs expanding ü Sports betting in Colorado Net Debt $ 133 MM Net Leverage 2.3 x STRICTLY CONFIDENTIAL PAGE 29
Slide 31: Thank you!
Century Casinos, Inc. (NASDAQ: CNTY) Thank you!
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