information 2012 2011 2012 2011
Operating
revenue:
Gaming $15,125 $15,081 $62,871 $62,070
Hotel,
bowling, food
and beverage 3,545 3,410 13,190 12,946
Other 1,119 1,138 4,206 4,033
Gross
revenue 19,789 19,629 80,267 79,049
Less:
Promotional
allowances (2,044) (2,026) (8,439) (8,183)
Net operating
revenue 17,745 17,603 71,828 70,866
Operating costs
and expenses:
Gaming 7,562 7,550 30,208 29,365
Hotel,
bowling, food
and beverage 2,670 2,465 10,061 10,094
General and
administrative 5,443 5,158 21,452 21,587
Depreciation 1,221 1,312 4,757 6,144
Total operating
costs and
expenses 16,896 16,485 66,478 67,190
Earnings from
equity
investment 45 (134) 426 589
Earnings from
operations 894 984 5,776 4,265
Non-operating
income
(expense):
Interest
income 1 25 37 38
Interest
expense (70) (173) (670) (802)
(Losses) gains
on foreign
currency
transactions
& other (5) 25 (24) 187
Non-operating
(expense)
income, net (74) (123) (657) (577)
Earnings before
income taxes 820 861 5,119 3,688
Income tax
provision 196 271 1,028 667
Net earnings $624 $590 $4,091 $3,021
Earnings per
share:
Basic $0.03 $0.03 $0.17 $0.13
Diluted $0.03 $0.03 $0.17 $0.13
CENTURY CASINOS, INC. AND
SUBSIDIARIES
FINANCIAL INFORMATION - US GAAP BASIS
Century Casinos, Inc.
Condensed Consolidated
Balance Sheets
(Amounts in thousands)
December 31, December 31,
2012 2011
Assets
Current assets $26,535 $27,286
Property and equipment, 99,526 99,605
net
Other assets 11,275 9,836
Total assets $137,336 $136,727
Liabilities and
Shareholders' Equity
Current liabilities $13,071 $21,359
Non-current liabilities 6,109 2,828
Shareholders' equity 118,156 112,540
Total liabilities and $137,336 $136,727
shareholders' equity
CENTURY CASINOS, INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION
The following tables show Adjusted EBITDA margins and Adjusted EBITDA to net
earnings reconciliations by property or category. 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. A discussion of Adjusted EBITDA follows the
tables.
Century Casinos, Inc.
Adjusted EBITDA Margins by Property or Category
For the Three Months For the Year
Ended December 31, Ended December 31,
2012 2011 2012 2011
Century Casino
& Hotel,
Edmonton 33% 32% 32% 33%
Century Casino,
Calgary 6% 11% 2% 6%
Century Casino
& Hotel,
Central City 16% 20% 21% 21%
Century Casino
& Hotel,
Cripple Creek 10% 10% 20% 19%
Cruise Ships &
Other 9% 15% 13% 16%
Consolidated
Adjusted EBITDA
Margin 12% 13% 15% 15%
Reconciliation of Adjusted EBITDA ** to Net Earnings (Loss) by Property or
Category
For the three months ended December 31, 2012
Amounts in thousands
Three Months Ended December , 2012
Cruise
Central Cripple Ships &
Edmonton Calgary City Creek Other Corporate Total
Net earnings
(loss) $1,407 ($45) $236 $7 $30 ($1,011) $624
Interest
income 0 0 0 0 0 (1) (1)
Interest
expense 57 0 0 0 11 2 70
Income taxes
(benefit) 417 (35) 145 5 5 (341) 196
Depreciation 264 230 329 247 113 38 1,221
Non-cash
stock based
compensation 0 0 0 0 0 (4) (4)
Foreign
currency
losses
(gains) (4) 5 0 0 (1) 5
(Gain) loss
on
disposition
of fixed
assets 0 4 4 2 (1) 1 10
Other write-
offs 0 0 0 0 0 2 2
Adjusted
EBITDA** $2,141 $159 $714 $261 $157 ($1,309) $2,123
CENTURY CASINOS, INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION
Century Casinos, Inc.
Reconciliation of Adjusted EBITDA ** to Net Earnings (Loss) by Property or
Category
For the three months ended December 31, 2011
Amounts in thousands
Three Months Ended December 31, 2011
Cruise
Central Cripple Ships &
Edmonton Calgary City Creek Other Corporate Total
Net earnings
(loss) $1,057 $27 $307 $11 $137 ($949) $590
Interest
income (8) 0 0 0 0 (17) (25)
Interest
expense 168 3 0 0 0 2 173
Income taxes
(benefit) 450 75 177 6 14 (451) 271
Depreciation 308 202 373 260 110 59 1,312
Non-cash
stock based
compensation 0 0 0 0 0 4 4
Foreign
currency
(gains) (12) (5) 0 0 0 (8) (25)
(Gain) loss
on
disposition
of fixed
assets 0 0 (4) 0 0 28 24
Other write-
offs 0 0 5 0 0 0 5
Adjusted
EBITDA** $1,963 $302 $858 $277 $261 ($1,332) $2,329
Reconciliation of Adjusted EBITDA ** to Net Earnings (Loss) by Property or
Category
For the Year Ended December 31, 2012
Amounts in thousands
Year Ended December 31, 2012
Cruise
Central Cripple Ships &
Edmonton Calgary City Creek Other Corporate Total
Net earnings
(loss) $4,688 ($527) $1,561 $854 $450 ($2,935) $4,091
Interest
income (12) (1) 0 0 0 (24) (37)
Interest
expense 656 0 0 0 11 3 670
Income taxes
(benefit) 1,595 (117) 956 522 49 (1,977) 1,028
Depreciation 1,010 860 1,350 1,007 404 126 4,757
Non-cash
stock based
compensation 0 0 0 0 0 (4) (4)
Foreign
currency
(gains)
losses 20 9 0 0 0 (5) 24
(Gain) loss
on
disposition
of fixed
assets 2 4 8 2 15 1 32
Other write-
offs 0 0 0 0 0 2 2
Adjusted
EBITDA** $7,959 $228 $3,875 $2,385 $929 ($4,813) $10,563
CENTURY CASINOS, INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION
Century Casinos, Inc.
Reconciliation of Adjusted EBITDA ** to Net Earnings (Loss) by Property or
Category
For the Year Ended December 30, 2011
Amounts in thousands
Year Ended December 31, 2011
Cruise
Central Cripple Ships &
Edmonton Calgary City Creek Other Corporate Total
Net earnings
(loss) $4,298 ($126) $983 $788 $456 ($3,378) $3,021
Interest
income (21) 0 0 0 0 (17) (38)
Interest
expense 794 4 0 0 0 4 802
Income taxes
(benefit) 1,424 (68) 553 482 86 (1,810) 667
Depreciation 1,422 779 2,227 1,031 442 243 6,144
Non-cash
stock based
compensation 0 0 0 0 0 199 199
Foreign
currency
losses
(gains) (18) 31 0 0 0 (200) (187)
(Gain) loss
on
disposition
of fixed
assets 0 0 11 (5) 43 30 79
Other write-
(MORE TO FOLLOW) Dow Jones Newswires
March 28, 2013 04:00 ET (08:00 GMT)
