Century Casinos (NASDAQ:CNTY) reported a stark contrast between its operational efficiency and its bottom-line results for the fiscal year ended Dec. 31, 2025.
While the company achieved a massive 331% increase in earnings from operations, it ended the year with a net loss of $61.4 million, largely due to non-cash impairment charges and higher interest expenses related to its 2023-2024 acquisition spree.
Fourth-quarter net operating revenue remained flat year-over-year at $138 million, though the company’s focus on cost-cutting paid off as adjusted EBITDAR rose 13% to $23.9 million.
For the full year, revenue dipped slightly to $573 million, a 1% decline that management attributed to temporary disruptions from construction at its Missouri properties and a "transitional" year for its newly acquired Nugget Casino Resort in Nevada.
The company is entering 2026 with significant tailwinds.
Following the voter-approved legalization of sports wagering, Century successfully launched its retail and online sports betting operations in Missouri through a partnership with BetMGM on Dec. 1, 2025.
The launch at its Cape Girardeau and Caruthersville properties is expected to drive higher foot traffic and capture a share of a market projected to generate millions in state tax revenue.
In Europe, the company’s subsidiary, Casinos Poland, continues to be a high-margin contributor.
Following the successful relocation and reopening of its Wroclaw casino in late 2024, Century opened a second location in Wroclaw in February 2026.
This expansion comes as the Polish gaming market sees record participation, with Century now operating a robust network across Warsaw, Kraków, and Katowice.