Century Casinos informed a 46 percent increase in revenue

2013 Highlights* 

•Net operating revenue was us$104.6 million, a 46% increase from the year ended December 31, 2012. 

• Adjusted EBITDA** was us$12.6 million, a 20% increase from the year ended December 31, 2012. 

• Net earnings attributable to Century Casinos shareholders were us$ 6.2 million, a 51% increase from the year ended December 31, 2012. 

• Earnings per share were us$0.26. 

• Book value per share *** at December 31, 2013 was us$5.00. 

Fourth Quarter 2013 Highlights* 

•Net operating revenue was us$ 29.4 million, a 66% increase from the three months ended December 31, 2012. 

•Adjusted EBITDA** was us$ 2.2 million, a 3% increase from the three months ended December 31, 2012. 

•Net losses attributable to Century Casinos shareholders were us$ 0.2 million, a 134% decrease from the three months ended December 31, 2012. 

•Losses per share were us$ 0.01. 

The period over period increases in net operating revenue and Adjusted EBITDA relate to the inclusion of operating results from Casinos Poland beginning in the second quarter of 2013. In April 2013, the Company completed the purchase of an additional 33.3% ownership interest in CPL. 

The company owns a 66.6% ownership interest in CPL and consolidates CPL financial information as a majority-owned subsidiary for which the company has a controlling financial interest. Prior to the acquisition of this additional interest in CPL, the Company owned 33.3% of CPL and accounted for the CPL ownership interest as an equity investment. 

On November 29, 2013, our subsidiary Century Casinos Europe finalized credit and management agreements with United Horsemen ofAlberta (UHA) in connection with the development of a Racing Entertainment Center (REC) project in the north metropolitan area of Calgary, Alberta, Canada. The project will include a horse race track and other gaming, restaurant and entertainment facilities. 

“Under the agreements, we acquired 15% of UHA, control the UHA board of directors and will manage the development and operation of the REC project. As of November 29, 2013, we began consolidating UHA as a minority owned subsidiary for which we have a controlling financial interest. While unaffiliated shareholders currently own the remaining 85% of UHA, we have the right to convert us$ 11 million (that we will provide out of a total of $24 million for the development of the REC project) into a 60% ownership stake in UHA, bringing our total to 75%. We account for and report the current 85% UHA ownership interest that we do not own as a non-controlling financial interest. “

The period over period increases relate primarily to the inclusion of operating results from Casinos Poland in the second quarter of 2013. In April 2013, the company completed the purchase of an additional 33.3% ownership interest in CPL. The Company now owns a 66.6% ownership interest in CPL and consolidates CPL financial information as a majority-owned subsidiary for which the Company has a controlling financial interest. Prior to the acquisition of this additional interest in CPL, the company owned 33.3% of CPL and accounted for the CPL ownership interest as an equity investment.