Century Casinos is a regional casino operator with properties across North America and Poland. Century targets local and regional drive-to customers rather than destination gamblers, positioning its properties as entertainment hubs for surrounding metro areas. The core revenue driver is gaming — primarily slot machines, with table games at most properties — supplemented by hotels, restaurants, horse racing, and entertainment venues that drive visitation and incremental gaming spend. Century sells directly to consumers and relies heavily on a proprietary customer database to run promotions, free play offers, and VIP events segmented by customer value tier. Century also licenses its gaming licenses to third-party sports betting operators like BetMGM and Bet365 in exchange for a revenue share — essentially a royalty stream with no operational risk to Century. The company operates across five segments: US Midwest (Missouri and Colorado), US East (West Virginia and Maryland), US West (Reno-Sparks, Nevada), Canada (Alberta), and Poland. Missouri is the most important sub-region. A key structural feature is that Century owns the operations but not the real estate of several properties, operating under a triple-net master lease with VICI Properties — a fixed cost that constrains free cash flow and elevates leverage on a lease-adjusted basis. Century recently completed a multi-year capital investment cycle and is now focused on debt reduction. In August 2025, Century's Board initiated a strategic review exploring asset sales, mergers, or a full company sale, with Poland and Canada identified as potential divestitures.