Century Casinos, Inc.: Update to credit analysis
Our credit view of this issuer reflects its high leverage and small scale, offset by its product and geographic diversification and lack of near-term debt maturities.Century Casinos is an international casino entertainment company that develops and operates gaming establishments as well as related lodging, restaurant, horse racing and entertainment facilities. The company owns casino operations in North America and England; develops a racetrack and entertainment center (REC) in Edmonton, Canada; holds interest in casino licenses throughout Poland; holds interest in a REC in Calgary, Canada, and the pari-mutuel off-track betting network in southern Alberta, Canada; manages cruise ship-based casinos on international waters; manages a hotel, entertainment and gaming club in Vietnam through a majority-owned subsidiary, and provides gaming services in Argentina.
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