Century Casinos Considers Exit from Alberta Despite Record Revenues

The global gaming landscape is shifting, and Century Casinos is at the forefront of this transformation. During a recent second-quarter earnings call, President Peter Hoetzinger indicated that the company is reviewing the future of its Alberta properties. While the U.S. segment is thriving, performance in Europe has been mixed. The closure of the Warsaw casino in June 2025 and lower table-game hold in Poland weighed on the quarterly results. Nevertheless, the management remains optimistic as North America now represents 90 percent of the company's total financial output.

In Alberta, Century currently operates four casinos that delivered what was described as a solid performance. However, a sale is being considered, either as a bundle or in separate parts. The logic is straightforward: unlock capital to pay down debt and reinvest in higher-growth regions. Hoetzinger noted that 2026 would be a year of harvesting. The company aims to reduce its debt load to six times cash flow by year-end, benefiting from the fact that no debt maturities are looming for the next three years.

Numbers and Facts

The quarterly metrics highlight significant operational efficiency in the United States. Lyle Randolph, the newly appointed Vice President of U.S. Operations, reported that cash flow grew at 16 percent in the first half of 2026, outpacing a five percent revenue growth. In Missouri, the company's two casinos saw their seventh consecutive quarter of cash flow growth. Century Caruthersville stood out with an eight percent revenue increase, the highest growth among all 13 gambling venues in the state. Colorado also showed strong momentum, with locations in Cripple Creek and Central City delivering 11.5 percent higher revenue and a 32 percent surge in cash flow.

"Poland spoiled the party a bit. But North America had a great quarter and represents 90 percent of our total results." - Peter Hoetzinger, President of Century Casinos

Hotel operations have become a significant pillar of growth. Room revenue jumped by 36 percent, with corporate sales skyrocketing by 300 percent. This indicates that Century is successfully transitioning into an integrated resort operator. Guests are staying longer and spending more, with a 20 percent increase in the number of guests generating at least $400 in business per night.

Background

A potential exit from Alberta is not entirely sudden. In January 2022, the subsidiary Century Resorts Alberta sold a Calgary property for 8.1 million Canadian Dollars to Rowanwood Financial Properties. This followed the 2020 sale of the casino operations in Calgary for 10 million Canadian Dollars to New Star Capital. The current discussion regarding the remaining four locations is a continuation of this long-term divestment strategy. Erwin Haitzmann, Co-CEO of Century, emphasized that while they are monitoring the online market in Alberta, they have not seen cannibalization of retail business. Instead, they view it as a form of natural fertilization, though they plan to leverage sports bars rather than direct online platforms.

In Poland, the situation remains in transition. The new Wroclaw casino is facing startup costs but is viewed as a flagship long-term opportunity. Interestingly, previous plans to sell the Polish casinos were not mentioned during the call, suggesting a move toward stabilizing those operations instead of an immediate exit.

Why it matters for German players

For casino enthusiasts in Germany, the movements of a global player like Century Casinos serve as an important industry indicator. While Century focuses on physical expansion and integrated resorts in North America, the German market is defined by strict regulation under the 2021 Interstate Treaty on Gambling (GlüStV). German players must ensure they only use operators licensed by the GGL to guarantee fair play and payout security. The German treaty mandates a 1,000 Euro monthly deposit limit and a one Euro stake limit per spin on virtual slots, overseen by the LUGAS system.

What it means for GGL-licensed casinos

German GGL-licensed casinos operate under significantly tighter constraints regarding advertising and social concepts compared to venues in Alberta or Missouri. While Century in West Virginia benefits from rising sports betting and iGaming revenues, German operators must compete with an unlicensed black market that ignores the 5.3 percent stake tax and mandatory panic-button features. For players, the safest route remains checking the official GGL whitelist to ensure they are playing within a regulated and legally sound environment.

Additional Sources: [gamblinginsider.com, ggbmagazine.com]