Financial Analysis

16. COMMITMENTS, CONTINGENCIES AND OTHER MATTERS Litigation From time to time, the Company is subject to various legal proceedings arising from normal business operations. The Company does not expect the outcome of such proceedings, either individually or in the aggregate, to have a material effect on its financial position, cash flows or results of operations. The Company had a contingent liability related to a series of tax audits conducted by the Polish IRS related to the calculation and payment of personal income tax by CPL employees for periods ranging from 2007 to 2013. The Polish IRS asserted that CPL should calculate, collect and remit to the Polish IRS personal income tax on tips received by CPL employees from casino customers and prevailed in several court challenges by CPL. Through December 31, 2024, CPL has paid PLN 14.3 million ($ 4.2 million) to the Polish IRS related to these audits. The statute of limitations expired on all periods in which CPL calculated personal income tax in which the Polish IRS disagreed. In September 2022, the Polish IRS reimbursed PLN 1.8 million ($ 0.4 million based on the exchange rate in effect on September 30, 2022) plus interest, after CPL prevailed in a court challenge of a 2011 tax audit. The Company recorded the Polish IRS reimbursement to gain on foreign currency transactions, cost recovery income and other on its consolidated statement of (loss) earnings for the year ended December 31, 2022. Any additional tax obligations are n …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

For the year ended December 31, 2024 Amounts in thousands United States Canada Poland Corporate and Other Total Gaming $ 293,702 $ 48,062 $ 78,184 $ $ 419,948 Pari-mutuel, sports betting and iGaming 9,597 9,419 19,016 Hotel 47,675 578 48,253 Food and beverage 45,548 12,566 833 58,947 Other 23,146 5,692 883 34 29,755 Net operating revenue $ 419,668 $ 76,317 $ 79,900 $ 34 $ 575,919 For the year ended December 31, 2023 Amounts in thousands United States Canada Poland Corporate and Other Total Gaming $ 272,499 $ 46,871 $ 92,957 $ 61 $ 412,388 Pari-mutuel, sports betting and iGaming 10,145 10,020 20,165 Hotel 41,750 519 42,269 Food and beverage 36,803 12,532 927 50,262 Other 19,394 5,507 221 25,122 Net operating revenue $ 380,591 $ 75,449 $ 94,105 $ 61 $ 550,206 For the year ended December 31, 2022 Amounts in thousands United States Canada Poland Corporate and Other Total Gaming $ 232,871 $ 43,972 $ 88,959 $ 184 $ 365,986 Pari-mutuel, sports betting and iGaming 8,728 10,879 19,607 Hotel 9,159 469 9,628 Food and beverage 12,394 10,860 843 24,097 Other 5,430 5,392 367 22 11,211 Net operating revenue $ 268,582 $ 71,572 $ 90,169 $ 206 $ 430,529 …

DisaggregationOfRevenueTableTextBlock · excerpt; the full note is in the filing

12. STOCK-BASED COMPENSATION Stockholders of the Company approved the 2016 Equity Incentive Plan (the 2016 Plan) at the 2016 annual meeting of stockholders. The 2016 Plan was amended and restated at the Companys 2024 annual meeting of stockholders. The 2016 Plan will expire in June 2034 . The 2016 Plan provides for the grant of awards to eligible individuals in the form of stock, restricted stock, stock options, performance units or other stock-based awards, all as defined in the 2016 Plan. The 2016 Plan provides for the issuance of up to 5,930,400 shares of common stock to eligible individuals, including directors, through the various forms of permitted awards. The Company is not permitted to issue stock options at an exercise price lower than fair market value at the date of grant. All stock options are required to have an exercise period not to exceed ten years . As of December 31, 2024, the Company has granted 3,556,889 performance stock units (PSUs), restricted stock units (RSUs) and stock options under the 2016 Plan. Any committee as delegated by the board of directors has the power and discretion to, among other things, prescribe the terms and conditions for the exercise of, or modification of, any outstanding awards in the event of merger, acquisition or any other form of acquisition other than a reorganization of the Company under the United States Bankruptcy Code or liquidation of the Company. The 2016 Plan also allows limited transferability of any stock options to …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

14. FAIR VALUE MEASUREMENTS AND DERIVATIVE INSTRUMENTS REPORTING (AS RESTATED) Fair Value Measurements The Company follows fair value measurement authoritative accounting guidance for all assets and liabilities measured at fair value. That authoritative accounting guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. Market or observable inputs are the preferred sources of values, followed by assumptions based on hypothetical transactions in the absence of market inputs. The fair value hierarchy for grouping these assets and liabilities is based on the significance level of the following inputs: Level 1 quoted prices in active markets for identical assets or liabilities Level 2 quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations whose inputs are observable or whose significant value drivers are observable Level 3 significant inputs to the valuation model are unobservable A financial instruments categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The Companys assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

5 . GOODWILL AND INTANGIBLE ASSETS (AS RESTATED) Goodwill Goodwill represents the future economic benefits of a business combination to the extent that the purchase price exceeds the fair value of the net identified tangible and intangible assets acquired and liabilities assumed. The Company determines the estimated fair value of the net identified tangible and intangible assets acquired and liabilities assumed after review and consideration of relevant information including discounted cash flows, quoted market prices, and estimates made by management. The Company tests goodwill for impairment as of October 1 each year, or more frequently as circumstances indicate it is necessary. Testing compares the estimated fair values of the reporting units to the reporting units carrying values. The reportable segments with goodwill balances as of December 31, 2024 included the United States, Canada and Poland. For the quantitative goodwill impairment test, the current fair value of each reporting unit with goodwill balances is estimated using a combination of (i) the income approach using the discounted cash flow method for projected revenue, EBITDAR and working capital, (ii) the market approach observing the price at which comparable companies or shares of comparable companies are bought or sold, and (iii) fair value measurements using either quoted market price or an estimate of fair value using a present value technique. The cost approach, estimating the cost of reproduction or repl …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

13. INCOME TAXES (AS RESTATED) The Companys US and foreign pre-tax (loss) income is summarized in the table below: Amounts in thousands 2024 As Restated 2023 2022 (Loss) income before taxes: US $ ( 123,021 ) $ ( 30,793 ) $ ( 10,142 ) Foreign 3,136 6,961 16,152 Total (loss) income before taxes $ ( 119,885 ) $ ( 23,832 ) $ 6,010 The Companys provision (benefit) for income taxes is summarized as follows: For the year ended December 31, Amounts in thousands 2024 As Restated 2023 2022 US - Current $ 333 $ 1,088 $ 3,176 US - Deferred 25,185 ( 6,504 ) ( 14,981 ) Provision (benefit) for US income taxes $ 25,518 $ ( 5,416 ) $ ( 11,805 ) Foreign - Current $ 2,174 $ 17,085 $ 4,291 Foreign - Deferred ( 1,061 ) ( 17,012 ) ( 146 ) Provision for foreign income taxes $ 1,113 $ 73 $ 4,145 Total provision (benefit) for income taxes $ 26,631 $ ( 5,343 ) $ ( 7,660 ) The Companys effective income tax rate differs from the statutory federal income tax rate as follows: Amounts in thousands 2024 As Restated 2023 2022 US federal income tax statutory rate 21.0 % 21.0 % 21.0 % Foreign tax rate differential ( 0.1 %) 23.3 % 18.6 % State income tax (net of federal benefit) 3.5 % 2.1 % 0.9 % Income taxed to owners of non-controlling interest (Smooth Bourbon) 1.2 % 4.7 % Meals, entertainment, gifts and giveaways ( 0.2 %) ( 1.0 %) 3.7 % Statutory to US GAAP adjustments, including foreign currency ( 0.6 %) 0.8 % ( 3.7 %) Valuation allowance ( 46.0 %) ( 5.5 %) ( 173.5 %) Unrecognized tax benefit 0.5 % ( 0.3 %) …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

9. LEASES The Company determines if an arrangement is a lease at inception. Right-of-use (ROU) assets represent the Companys right to use an underlying asset for the lease term, and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. The Company uses its incremental borrowing rate in each of the jurisdictions in which its subsidiaries operate to calculate the present value of lease payments. Lease terms may include options to extend or terminate the lease. These options are included in the lease term when it is reasonably certain that the Company will exercise those options. Operating lease expense is recorded on a straight-line basis over the lease term. The Company accounts for lease agreements with lease and non-lease components as a single lease component for all asset classes. The Company does not establish ROU assets or lease liabilities for operating leases with terms of 12 months or less. The Companys operating and finance leases include land, casino space, corporate offices, and gaming and other equipment. The leases have remaining lease terms of one month to 48 years. The Master Lease was evaluated as a sale-leaseback of real estate. The Company determined that the Master Lease did not qualify for sale-leaseback accounting and accounted for the transaction as a financing obligation …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

6. LONG-TERM DEBT Long-term debt and the weighted average interest rates at December 31, 2024 and 2023 consisted of the following: Amounts in thousands December 31, 2024 December 31, 2023 Goldman term loan $ 336,884 11.45 % $ 343,875 11.44 % Credit facilities - CPL 1,339 7.30 % UniCredit term loan 1,387 3.02 % 2,954 3.21 % Total principal $ 339,610 11.39 % $ 346,829 10.89 % Deferred financing costs ( 11,454 ) ( 14,149 ) Total long-term debt $ 328,156 $ 332,680 Less current portion ( 6,226 ) ( 8,468 ) Long-term portion $ 321,930 $ 324,212 Goldman Credit Agreement On April 1, 2022, the Company entered into the Goldman Credit Agreement by and among the Company, as borrower, the subsidiary guarantors party thereto, Goldman Sachs Bank USA, as administrative agent and collateral agent, Goldman Sachs Bank USA and BOFA Securities, Inc., as joint lead arrangers and joint bookrunners, and the Lenders and L/C Lenders party thereto. The Goldman Credit Agreement replaced the Macquarie Credit Agreement discussed below. The Goldman Credit Agreement provides for a $ 350.0 million Goldman Term Loan and a $ 30.0 million Revolving Facility. As of December 31, 2024, the outstanding balance of the Goldman Term Loan was $ 336.9 million and the Company had not borrowed on its $ 30.0 million Revolving Facility. The Company used the Goldman Term Loan to fund the Nugget Acquisition (including the Acquisition Escrow), for the repayment of approximately $ 166.2 million outstanding under the Macquarie Cr …

LongTermDebtTextBlock · excerpt; the full note is in the filing

Recently Adopted Accounting Pronouncements The Company has recently adopted the following accounting pronouncement: In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280); Improvements to Reportable Segment Disclosures (ASU 2023-07). The objective of ASU 2023-07 is to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, enhance interim disclosure requirements, clarify circumstances in which an entity can disclose multiple segment measures of profit or loss, and add other disclosure requirements. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption of ASU 2023-07 was permitted. The Company adopted this standard during the year ended December 31, 2024 and retrospectively applied the standard to 2022 and 2023. The Company added disclosure of significant segment expenses to its segment footnote. In addition, information related to segment assets that had previously been reported annually are being included quarterly. …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

17. TRANSACTIONS WITH RELATED PARTIES The Company has entered into separate management agreements with Flyfish Management & Consulting AG (Flyfish), a management company controlled by Co CEO Erwin Haitzmann, and with Focus Lifestyle and Entertainment AG (Focus), a management company controlled by Co CEO Peter Hoetzingers family trust/foundation, to secure the services of each officer and related management company. Both Co CEOs are responsible for planning, directing, and controlling the activities of the Company. Included in the consolidated statements of (loss) earnings are payments to both Flyfish and Focus for a total of $ 0.8 million, $ 0.8 million, and $ 0.7 million for the years ended December 31, 2024, 2023 and 2022, respectively. The Company had a liability with Marnell, with which the Company owns 50 % of Smooth Bourbon, of less than $ 0.1 million related to open invoices in accounts payable for general contracting and consulting services on its consolidated balance sheet for the year ended December 31, 2023. There were no liabilities related to Marnell on the Companys consolidated balance sheet for the year ended December 31, 2024. The Company also entered into a consulting agreement with Marnell for services after the Nugget Acquisition was completed. Fees incurred under the agreement were $ 0.4 million for the year ended December 31, 2023 and were recorded as general and administrative expenses in the United States segment. The agreement ended on September 30 …

RelatedPartyTransactionsDisclosureTextBlock · excerpt; the full note is in the filing

8. REVENUE RECOGNITION The Company derives revenue and other income primarily from contracts with customers. A breakout of the Companys revenue and other income is presented in the table below. For the year ended December 31, Amounts in thousands 2024 2023 2022 Revenue from contracts with customers $ 575,919 $ 550,206 $ 430,529 Cost recovery income 1,066 3,501 1,938 Century Casino Calgary sale earn out revenue 1,660 Total revenue $ 576,985 $ 555,367 $ 432,467 The Company operates gaming establishments as well as related lodging, restaurant, horse racing (including off-track betting), sports betting, iGaming, and entertainment facilities in the US, Canada and Poland. The Company generates revenue at its properties by providing the following types of products and services: gaming, pari-mutuel and sports betting, iGaming, hotel, food and beverage, and other. Disaggregation of the Companys revenue from contracts with customers by type of revenue and geographical location is presented in the tables below. For the year ended December 31, 2024 Amounts in thousands United States Canada Poland Corporate and Other Total Gaming $ 293,702 $ 48,062 $ 78,184 $ $ 419,948 Pari-mutuel, sports betting and iGaming 9,597 9,419 19,016 Hotel 47,675 578 48,253 Food and beverage 45,548 12,566 833 58,947 Other 23,146 5,692 883 34 29,755 Net operating revenue $ 419,668 $ 76,317 $ 79,900 $ 34 $ 575,919 For the year ended December 31, 2023 Amounts in thousands United States Canada Poland Corporate and O …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

15. SEGMENT AND GEOGRAPHIC INFORMATION (AS RESTATED) The Company reports its financial performance in three reportable segments based on the geographical locations in which its casinos operate: the United States, Canada and Poland. The Company views each casino or other operation within those markets as a reporting unit. Operating segments are aggregated within reportable segments based on their similar economic characteristics, types of customers, types of services and products provided, the regulatory environments in which they operate, and their management and reporting structure. In the United States, the Company views its operating segments as East, Midwest and West. The Companys operations related to certain other corporate and management operations have not been identified as separate reportable segments; therefore, these operations are included in Corporate and Other in the following segment disclosures to reconcile to consolidated results. All intercompany transactions are eliminated in consolidation. The table below provides information about the aggregation of the Companys reporting units and operating segments into reportable segments as of December 31, 2024: Reportable Segment Operating Segment Reporting Unit United States East Mountaineer Casino, Resort & Races (1) Rocky Gap Casino, Resort & Golf (1) Midwest Century Casino & Hotel Central City Century Casino & Hotel Cripple Creek Century Casino & Hotel Cape Girardeau (1) Century Casino & …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

2. SIGNIFICANT ACCOUNTING POLICIES AND RESTATEMENT OF PREVIOUSLY ISSUED CONSOLIDATED FINANCIAL STATEMENTS (AS RESTATED) Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. The Company also consolidates CPL, CDR and Smooth Bourbon as majority owned subsidiaries for which the Company has a controlling interest. The portion of CPL, CDR and Smooth Bourbon that are not wholly-owned are reflected as non-controlling interests in the accompanying consolidated financial statements. All intercompany transactions and balances have been eliminated. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States (US GAAP) requires management to make estimates and assumptions that affect the reported amount of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ materially from those estimates. Managements use of estimates includes estimates for property and equipment, goodwill, intangible assets and income tax. Recently Adopted Accounting Pronouncements The Company has recently adopted the following accounting pronouncement: In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07, Segment Report …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

11. SHAREHOLDERS EQUITY Since March 2000, the Company has had a discretionary program to repurchase the Companys outstanding common stock. The total remaining authorization under the repurchase program was $ 14.7 million as of December 31, 2024. The Company did no t repurchase any shares of its common stock during 2024 and 2023. The repurchase program has no set expiration or termination date. The Company has not declared or paid any dividends. Declaration and payment of dividends, if any, in the future will be at the discretion of the board of directors. The Company does not have any minimum capital requirements related to its status as a US corporation in the state of Delaware. …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

18. SUBSEQUENT EVENTS The Company evaluated subsequent events and accounting and disclosure requirements related to material subsequent events in its consolidated financial statements and related notes. The Company did not identify any material subsequent events impacting its financial statements in this report.

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6. COMMITMENTS, CONTINGENCIES AND OTHER MATTERS Litigation From time to time, the Company is subject to various legal proceedings arising from normal business operations. Based on managements knowledge, the Company does not expect the outcome of such currently pending or threatened proceedings, either individually or in the aggregate, to have a material effect on its financial position, cash flows or results of operations. Termination Costs (Poland) The Company was notified in the fourth quarter of 2024 that it was not awarded a new license to operate a casino in Krakow, Poland. Agreements with the employees at the Krakow casino provide for payment of salaries for a negotiated termination period and severance pay. The final payments related to the Krakow casino were made in June 2025 and the estimate was adjusted based on these final payments. The Company was notified in June 2025 that it was not awarded a new license to operate a casino at the Hilton Hotel in Warsaw, Poland. Agreements with the employees at the Hilton Hotel casino in Warsaw provide for severance pay. The final payments related to the Hilton Hotel casino were made in September 2025. A reconciliation of the liability as of September 30, 2025 is presented below. Amounts in thousands Balance as of January 1, 2025 $ 766 Termination costs (1) 666 Payments ( 1,259 ) Estimate adjustments ( 223 ) Currency translation 50 Balance as of September 30, 2025 $ (1) Termination costs are included in general and administrativ …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

For the three months ended September 30, 2025 Amounts in thousands United States Canada Poland Corporate and Other Total Gaming $ 76,634 $ 12,299 $ 17,860 $ $ 106,793 Pari-mutuel, sports betting and iGaming 3,778 2,907 6,685 Hotel 14,693 152 14,845 Food and beverage 14,355 3,763 225 18,343 Other 5,537 1,468 53 7,058 Net operating revenue $ 114,997 $ 20,589 $ 18,138 $ $ 153,724 For the three months ended September 30, 2024 Amounts in thousands United States Canada Poland Corporate and Other Total Gaming $ 75,023 $ 12,343 $ 18,084 $ $ 105,450 Pari-mutuel, sports betting and iGaming 3,023 2,730 5,753 Hotel 15,193 157 15,350 Food and beverage 14,809 3,623 198 18,630 Other 9,091 1,422 5 10,518 Net operating revenue $ 117,139 $ 20,275 $ 18,287 $ $ 155,701 For the nine months ended September 30, 2025 Amounts in thousands United States Canada Poland Corporate and Other Total Gaming $ 221,043 $ 35,493 $ 61,993 $ $ 318,529 Pari-mutuel, sports betting and iGaming 7,248 7,393 14,641 Hotel 38,158 455 38,613 Food and beverage 33,797 9,464 693 43,954 Other 14,150 4,304 793 19,247 Net operating revenue $ 314,396 $ 57,109 $ 63,479 $ $ 434,984 For the nine months ended September 30, 2024 Amounts in thousands United States Canada Poland Corporate and Other Total Gaming $ 222,094 $ 36,865 $ 58,794 $ $ 317,753 Pari-mutuel, sports betting and iGaming 7,094 7,345 14,439 Hotel 36,987 432 37,419 Food and beverage 35,140 9,435 610 45,185 Other 18,365 4,348 625 13 23,351 Net operating revenue $ 319,680 …

DisaggregationOfRevenueTableTextBlock · excerpt; the full note is in the filing

9. FAIR VALUE MEASUREMENTS AND DERIVATIVE INSTRUMENTS REPORTING Fair Value Measurements The Company follows fair value measurement authoritative accounting guidance for all assets and liabilities measured at fair value. That authoritative accounting guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. Market or observable inputs are the preferred sources of values, followed by assumptions based on hypothetical transactions in the absence of market inputs. The fair value hierarchy for grouping these assets and liabilities is based on the significance level of the following inputs: Level 1 quoted prices in active markets for identical assets or liabilities Level 2 quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations whose inputs are observable or whose significant value drivers are observable Level 3 significant inputs to the valuation model are unobservable A financial instruments categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The Companys assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. T …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

3. GOODWILL AND INTANGIBLE ASSETS Goodwill Goodwill represents the future economic benefits of a business combination to the extent that the purchase price exceeds the fair value of the net identified tangible and intangible assets acquired and liabilities assumed. The Company determines the estimated fair value of the net identified tangible and intangible assets acquired and liabilities assumed after review and consideration of relevant information including discounted cash flows, quoted market prices, and estimates made by management. The Company tests goodwill for impairment as of October 1 each year, or more frequently as circumstances indicate it is necessary. The reportable segments with goodwill balances as of September 30, 2025 included Canada and Poland. For the quantitative goodwill impairment test, the current fair value of each reporting unit with goodwill balances is estimated using a combination of (i) the income approach using the discounted cash flow method for projected revenue, EBITDA and working capital, (ii) the market approach observing the price at which comparable companies or shares of comparable companies are bought or sold, and (iii) fair value measurements using either quoted market price or an estimate of fair value using a present value technique. The cost approach, estimating the cost of reproduction or replacement of an asset, was considered but not used because it does not adequately capture an operating companys intangible value. If the carry …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

7. INCOME TAXES Income tax expense or benefits are recorded relative to the jurisdictions that recognize book earnings. For the nine months ended September 30, 2025, the Company recognized income tax expense of $ 2.2 million on pre-tax loss of ($ 35.7 ) million, representing an effective income tax rate of ( 6.0 %) compared to income tax expense of $ 25.3 million on pre-tax loss of ($ 32.1 ) million, representing an effective income tax rate of ( 78.7 %) for the same period in 2024. For the nine months ended September 30, 2025, the Company computed an annual effective tax rate using forecasted information. Based on current forecasts, the Companys effective tax rate is expected to be highly sensitive to changes in earnings. The Company concluded that computing its effective tax rate using forecasted information would be appropriate in estimating tax expense for the nine months ended September 30, 2025. A number of items caused the effective income tax rate for the nine months ended September 30, 2025 to differ from the US federal statutory income tax rate of 21 %, including certain nondeductible business expenses in Poland, various exchange rate benefits, and income attributable to the non-controlling interest holder of Smooth Bourbon, which is taxed as a partnership for US federal income tax purposes. Further, the Company expects to incur withholding tax on future repatriation of current earnings in certain non-US subsidiaries. The Company continues to maintain a full valuati …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

11. LEASES The Company determines if an arrangement is a lease at inception. The right-of-use (ROU) assets represent the Companys right to use an underlying asset for the lease term, and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. The Company uses its incremental borrowing rate in each of the jurisdictions in which its subsidiaries operate to calculate the present value of lease payments. Lease terms may include options to extend or terminate the lease. These options are included in the lease term when it is reasonably certain that the Company will exercise those options. Operating lease expense is recorded on a straight-line basis over the lease term. The Company accounts for lease agreements with lease and non-lease components as a single lease component for all asset classes. The Company does not establish ROU assets or lease liabilities for operating leases with terms of 12 months or less. The Companys operating and finance leases include land, casino space, corporate offices, and gaming and other equipment. The leases have remaining lease terms of one month to 47 years . The components of lease expense were as follows: For the three months ended For the nine months ended September 30, September 30, Amounts in thousands 2025 2024 2025 2024 Operating lease expense $ 1,810 $ 1,673 $ …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

4. LONG-TERM DEBT Long-term debt and the weighted average interest rates as of September 30, 2025 and December 31, 2024 consisted of the following: Amounts in thousands September 30, 2025 December 31, 2024 Goldman term loan $ 334,259 10.54 % $ 336,884 11.45 % Credit facility - CPL 4,098 7.17 % 1,339 7.30 % UniCredit term loan 391 3.18 % 1,387 3.02 % Total principal $ 338,748 10.51 % $ 339,610 11.39 % Deferred financing costs ( 9,432 ) ( 11,454 ) Total long-term debt $ 329,316 $ 328,156 Less current portion ( 7,989 ) ( 6,226 ) Long-term portion $ 321,327 $ 321,930 Goldman Credit Agreement On April 1, 2022, the Company entered into the Goldman Credit Agreement by and among the Company, as borrower, the subsidiary guarantors party thereto, Goldman Sachs Bank USA, as administrative agent and collateral agent, Goldman Sachs Bank USA and BOFA Securities, Inc., as joint lead arrangers and joint bookrunners, and the Lenders and L/C Lenders party thereto. The Goldman Credit Agreement provides for the $ 350.0 million Goldman Term Loan and a $ 30.0 million Revolving Facility. As of September 30, 2025, the outstanding balance of the Goldman Term Loan was $ 334.3 million and the Company had $ 30.0 million available to borrow on the Revolving Facility. The Company used the Goldman Term Loan to fund the acquisition of the Nugget, for the repayment of approximately $ 166.2 million outstanding under a prior credit facility and for related fees and expenses. The Goldman Term Loan matures on Ap …

LongTermDebtTextBlock · excerpt; the full note is in the filing

Accounting Pronouncements Pending Adoption In October 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-06, Disclosure Improvements Codification Amendments in Response to the SEC's Disclosure Update and Simplification Initiative (ASU 2023-06). The objective of ASU 2023-06 is to update and simplify disclosure requirements and is intended to align US GAAP and SEC requirements. Early adoption of ASU 2023-06 is not permitted. The guidance relates to various topics and is effective on the date on which the SECs removal of the related disclosure requirement from Regulation S-X or Regulation S-K becomes effective. The Company is reviewing the updates provided by this standard. The Company does not expect the adoption of the standard to have a material impact on the Companys financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740); Improvements to Income Tax Disclosures (ASU 2023-09). The objective of ASU 2023-09 is to improve income tax disclosure requirements. Under ASU 2023-09, entities must annually (1) disclose specific categories in the income tax rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold. Early adoption of ASU 2023-09 is permitted. The guidance is effective for annual periods beginning after December 15, 2024. The Company does not expect the adoption of the standard to have a material impact on its financial statements …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

13. TRANSACTIONS WITH RELATED PARTIES Marnell owns 50 % of Smooth Bourbon along with the Company. The Company paid Marnell $ 1.9 million for each of the three months ended September 30, 2025 and 2024 and $ 5.8 million for each of the nine months ended September 30, 2025 and 2024. The payments were recorded as distributions to noncontrolling interests and consist of rent related to the 50 % interest in the lease between Smooth Bourbon and the Nugget owned by Marnell and 50 % of the operating costs of Smooth Bourbon.

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10. REVENUE RECOGNITION The Company derives revenue and other income from contracts with customers and financial instruments. A breakout of the Companys derived revenue and other income is presented in the table below. For the three months For the nine months ended September 30, ended September 30, Amounts in thousands 2025 2024 2025 2024 Revenue from contracts with customers $ 153,724 $ 155,701 $ 434,984 $ 438,147 Cost recovery income 991 1,066 Total revenue $ 153,724 $ 155,701 $ 435,975 $ 439,213 The Company operates gaming establishments as well as related lodging, restaurant, horse racing (including off-track betting), sports betting, iGaming, and entertainment facilities around the world. The Company generates revenue at its properties by providing the following types of products and services: gaming, pari-mutuel and sports betting, iGaming, hotel, food and beverage, and other. Disaggregation of the Companys revenue from contracts with customers by type of revenue and reportable segment is presented in the tables below. For the three months ended September 30, 2025 Amounts in thousands United States Canada Poland Corporate and Other Total Gaming $ 76,634 $ 12,299 $ 17,860 $ $ 106,793 Pari-mutuel, sports betting and iGaming 3,778 2,907 6,685 Hotel 14,693 152 14,845 Food and beverage 14,355 3,763 225 18,343 Other 5,537 1,468 53 7,058 Net operating revenue $ 114,997 $ 20,589 $ 18,138 $ $ 153,724 For the three months ended September 30, 2024 Amounts in thousands United State …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

1 2. SEGMENT INFORMATION The Company reports its financial performance in three reportable segments based on the geographical locations in which its casinos operate: the United States, Canada and Poland. The Company views each casino or other operation within those markets as a reporting unit. Operating segments are aggregated within reportable segments based on their similar economic characteristics, types of customers, types of services and products provided, the regulatory environments in which they operate, and their management and reporting structure. In the United States, the Company views its operating segments as East, Midwest and West. The Companys operations related to certain other corporate and management operations have not been identified as separate reportable segments; therefore, these operations are included in Corporate and Other in the following segment disclosures to reconcile to consolidated results. All intercompany transactions are eliminated in consolidation. The table below provides information about the aggregation of the Companys reporting units and operating segments into reportable segments: Reportable Segment Operating Segment Reporting Unit United States East Mountaineer Casino, Resort & Races (1) Rocky Gap Casino, Resort & Golf (1) Midwest Century Casino & Hotel Central City Century Casino & Hotel Cripple Creek Century Casino & Hotel Cape Girardeau and The Riverview (1) Century Casino & Hotel Caruthersville and The Farms …

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2. SIGNIFICANT ACCOUNTING POLICIES Accounting Pronouncements Pending Adoption In October 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-06, Disclosure Improvements Codification Amendments in Response to the SEC's Disclosure Update and Simplification Initiative (ASU 2023-06). The objective of ASU 2023-06 is to update and simplify disclosure requirements and is intended to align US GAAP and SEC requirements. Early adoption of ASU 2023-06 is not permitted. The guidance relates to various topics and is effective on the date on which the SECs removal of the related disclosure requirement from Regulation S-X or Regulation S-K becomes effective. The Company is reviewing the updates provided by this standard. The Company does not expect the adoption of the standard to have a material impact on the Companys financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740); Improvements to Income Tax Disclosures (ASU 2023-09). The objective of ASU 2023-09 is to improve income tax disclosure requirements. Under ASU 2023-09, entities must annually (1) disclose specific categories in the income tax rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold. Early adoption of ASU 2023-09 is permitted. The guidance is effective for annual periods beginning after December 15, 2024. The Company does not expect the adoption of the standard to have a material …

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8. EQUITY Earnings (Loss) per Share The calculation of basic loss per share considers only weighted average outstanding common shares in the computation. The calculation of diluted earnings per share gives effect to all potentially dilutive stock options. The calculation of diluted earnings per share is based upon the weighted average number of common shares outstanding during the period, plus, if dilutive, the assumed exercise of stock options using the treasury stock method. Weighted average shares outstanding for the three and nine months ended September 30, 2025 and 2024 were as follows: For the three months For the nine months ended September 30, ended September 30, Amounts in thousands 2025 2024 2025 2024 Weighted average common shares, basic 29,956 30,683 30,399 30,595 Dilutive effect of stock options Weighted average common shares, diluted 29,956 30,683 30,399 30,595 The following stock options are anti-dilutive and have not been included in the weighted average shares outstanding calculation: For the three months For the nine months ended September 30, ended September 30, Amounts in thousands 2025 2024 2025 2024 Stock options 427 396 310 287 Common Stock Repurchase Program Since March 2000, the Company has had a discretionary program to repurchase its outstanding common stock. Beginning in May 2025, the Company has entered into 10b5-1 trading plans (the Plans) for the purpose of repurchasing shares of the Companys outstanding common stock in accordance with the share …

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14. SUBSEQUENT EVENTS The Company evaluated subsequent events and accounting and disclosure requirements related to material subsequent events in its condensed consolidated financial statements and related notes. The Company did not identify any material subsequent events impacting its financial statements in this report. …

SubsequentEventsTextBlock · excerpt; the full note is in the filing