Century Casinos, Inc.

Good day everyone and welcome to today's Century Casinos Q2 2025 earnings call. At this time all participants are in a listen only mode. Later you have an opportunity to ask questions during the question and answer session. You may register to ask a question at any time by pressing the star and 1 on your telephone keypad. Please note this call is being recorded and I will be standing by if you should need any assistance. It is now my pleasure to turn the conference over to Peter Hudsonger. Please go ahead sir.

Good morning everyone and thank you for joining our earnings call.

I would like to remind everyone that we will be discussing forward looking information under the safe harbor provisions of the US Federal Securities Laws. The company undertakes no obligation to update or revise the forward looking statements and The actual results may differ from those projected. Throughout our call we refer to several non-GAP financial measures including but not limited to adjusted EBITDA. Reconciliation of our non-GAP measures to the appropriate GAP measures can be found in our news releases and SEC filings available in the investor section of our website at cntui.com. After our prepared remarks we will open the call for questions from analysts. My co-CEO Erwin Heitzman and our Chief Financial Officer Mrs. Margaret Stapeltin will join me for that. We announced strong second quarter results this morning. Both revenue and adjusted EBITDA were all-time records for a second quarter. Revenues were 150.8 million driven by strength in Missouri, Canada and Poland. EBITDA came in at 30.3 million, a 50% sequential increase and a 10% increase over Q2 of last year. The strong EBITDA growth was growth based with every region except Nevada contributing positive growth. Our results were supported by a continued strength in play from our core customers as well as improving trends among retail and lower end customers. More color and granularity on the individual properties and markets will come from urban shortly. It was a busy quarter for us. In addition to the strong operational performance, let me point out a few of the other highlights. In May we announced a partnership with BED-MGM to operate an online and mobile sports betting application under our license in Missouri. The agreement includes a percentage of net gaming revenue payable to us with a guaranteed minimum as well as retail sports book options to be exercised at our discretion. Sports betting is expected to go live in Missouri in December of this year, so we expect to see meaningful contributions from BED-MGM in our financials in 2026. Also in Missouri, the new property in Carradosville continues to perform really well. The increase in net operating revenue and EBITDA since the opening of the new casino and hotel on November 1st last year is 26% and 31% respectively. In Poland, we were notified in June that we have not received a new license for a second casino in Warsaw. However, the license for our flagship casino operation in Warsaw at the Presidential Hotel, the Ex-Mariat, runs through 2028. As Poland's third largest city, the city of Wroclaw, we have been awarded an additional license and we expect to open that casino in the fourth quarter of this year. We are still committed to divesting our Poland operations. In fact, we do expect to sign a debt of intent with an Eastern European gaming group next week, so we'll be under exclusivity on our Poland business shortly. We'll provide updates on the Poland investment process in the coming months and we'll be as accurate as appropriate. And with that, over to you, Erwin.