Century Casinos North American Property Footprint and East Region Market Overview
BALANCE SHEET AND LEVERAGE
As of December 31, 2023
In USD, in millions
Cash
$171.3
5.3X
Debt Leverage 1
Total Principal Debt 1
Net Debt 2
2.7X
$346.8
$175.5
Net Debt Leverage 2
Adjusted EBITDAR 1
$114.0
2023 CapEx
(maintenance)
$17.7
Rent Payments 1
$48.3
2023 CapEx
(projects)5
$41.9
4.9X
Lease Adjusted Net Leverage (8.0x) 4
CENTURY™
CASINOS
3.4X
Adjusted Net Debt Leverage 3
(Max First Lien Net Leverage Ratio 5.5X)
1.
2.
3.
Debt Leverage is calculated as trailing twelve month Adjusted EBITDAR minus trailing twelve-month Rent Payments divided by Total Principal Debt. Debt Leverage and Adjusted EBITDAR are non-GAAP financial measures. See
Appendix for the definition of Total Principal Debt and Rent Payments and for the definition and reconciliation of Adjusted EBITDAR and Debt Leverage.
Net Debt Leverage is calculated as trailing twelve-month Adjusted EBITDAR minus trailing twelve-month Rent Payments divided by Net Debt. Net Debt and Net Debt Leverage are non-GAAP financial measures. See Appendix for the
definition and reconciliation of Net Debt and Net Debt Leverage.
Adjusted Net Debt Leverage is calculated as trailing twelve-month Adjusted EBITDAR minus trailing twelve-month Rent Payments divided by Net Debt plus cash in casinos. Adjusted Net Debt Leverage is a non-GAAP financial
measure. See Appendix for the definition and reconciliation of Adjusted Net Debt Leverage.
4.
Lease Adjusted Net Leverage is a non-GAAP financial measure. See Appendix for the definition and reconciliation of Lease Adjusted Net Leverage.
5.
6.
A maximum First Lien Net Leverage Ratio of 5.5X is permitted under the Goldman Credit Agreement. See Appendix for more information.
Includes $18.6 million related to the Caruthersville Project. We are reimbursed for this project by VICI PropCo. See Appendix for the definition of Caruthersville Project.
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