Century Casinos Announces Sports Betting Partnership with BetMGM in Missouri
MWN-AI** Summary
Century Casinos, Inc. has announced a significant long-term partnership with BetMGM to launch a sports betting platform in Missouri. This collaboration will allow BetMGM to operate an online and mobile sports betting application under Century's license. The agreement, which includes a share of net gaming revenue payable to Century with a guaranteed minimum, will also allow for retail sportsbook options at Century's discretion.
The CEOs of Century Casinos, Erwin Haitzmann and Peter Hoetzinger, expressed their enthusiasm for teaming up with BetMGM, noting the company's reputation as a leader in online gaming and sports betting. They view this partnership as a strategic move to maximize the potential of their existing Missouri licenses and enhance the entertainment offerings available to their customers.
The launch of this partnership is contingent upon obtaining all necessary gaming licenses and regulatory approvals. BetMGM combines the strengths of MGM Resorts International and Entain Plc, providing unique access to both land-based and online sports betting markets in the U.S. The platform boasts a range of offerings, including sports betting, major tournament poker, and online gaming under several well-known brands.
Century Casinos operates various gaming and hospitality venues across the U.S., Canada, and Poland, making this addition to their service portfolio particularly vital for expanding audience engagement and driving revenue. The company's common stock trades on the Nasdaq Capital Market under the symbol CNTY, and they continue to explore new development opportunities.
This partnership is poised to enhance Century Casinos' standing in the competitive market of sports betting, as they aim to deliver premium entertainment experiences while navigating the evolving landscape of legal online gaming in the United States.
MWN-AI** Analysis
Century Casinos, Inc. (NASDAQ: CNTY) recently announced a long-term partnership with BetMGM to launch an online and mobile sports betting platform in Missouri. This alliance positions Century Casinos strategically in the expanding U.S. sports betting market, allowing it to diversify its revenue streams amid heightened competition.
The agreement includes a revenue-sharing structure, establishing a guaranteed minimum revenue to Century, which mitigates risks associated with the fluctuations in sports betting activities. The potential for additional retail sportsbook options also grants Century flexibility, ensuring that they can adapt to changing market dynamics.
Investors should note that this partnership, while promising, is subject to regulatory approvals, which could introduce compliance risks, particularly in the evolving regulatory landscape of sports betting. However, the management's optimism reflects confidence in the partnership's potential to leverage BetMGM’s strong brand and technical capabilities.
From a valuation perspective, CNTY's stock may react positively to this development, considering the lucrative nature of sports betting, which has demonstrated consistent growth in states where it has been legalized. Analysts should monitor CTR's performance against its competitors as the market matures. BetMGM's joint venture with MGM Resorts International provides Century with a robust backing, enhancing its credibility in this competitive space.
Potential investors should also consider Century's operational footprint across multiple states and its diversification within the gaming sector, which may help stabilize revenue against regional downturns.
In conclusion, Century Casino's partnership with BetMGM is a significant move, potentially elevating its market position. Investors are advised to keep an eye on regulatory developments and market responses to their integrated sports betting offering, as these will be critical to assessing the long-term viability and profitability of this initiative.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
PR Newswire
COLORADO SPRINGS, Colo. , May 27, 2025 /PRNewswire/ -- Century Casinos , Inc. (Nasdaq Capital Market®: CNTY) announced today that its subsidiary, Century Casino & Hotel Cape Girardeau ("Century"), has entered into a long-term agreement with BetMGM to bring BetMGM's sports betting platform to the Missouri market.
Under the terms of the agreement, BetMGM will operate an online and mobile sports betting application under Century's license in Missouri . The agreement includes a percentage of net gaming revenue payable to Century, with a guaranteed minimum, as well as retail sportsbook options to be exercised at Century's discretion.
"We are excited to partner with BetMGM, a leading online sports betting and gaming entertainment company with a dynamic and innovative brand" stated Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos . "This partnership is another step forward in leveraging our Missouri licenses and delivering premium entertainment experiences for our customers."
The agreement is contingent on obtaining all necessary gaming licenses and regulatory approvals.
About BetMGM
BetMGM is a market leading sports betting and gaming entertainment company, pioneering the online gaming industry. Born out of a partnership between MGM Resorts International (NYSE: MGM) and Entain Plc (LSE: ENT), BetMGM has exclusive access to all of MGM's U.S. land-based and online sports betting , major tournament poker, and online gaming businesses. Utilizing Entain's U.S.-licensed, state-of-the-art technology, BetMGM offers sports betting and online gaming via market-leading brands including BetMGM, Borgata Casino , Party Casino and Party Poker. Founded in 2018, BetMGM is headquartered in New Jersey . For more information, visit https://sports.betmgm.com/en/blog .
About Century Casinos , Inc.:
Century Casinos , Inc. (the "Company") is a casino entertainment company. In the United States the Company operates the following operating segments: (i) in the East, the Mountaineer Casino , Resort & Races in New Cumberland, West Virginia and Rocky Gap Casino , Resort & Golf in Flintstone, Maryland ; (ii) in the Midwest, the Century Casinos & Hotels Cape Girardeau and Caruthersville, Missouri , and Century Casinos & Hotels in Cripple Creek and Central City, Colorado ; and (iii) in the West, the Nugget Casino Resort, in Reno - Sparks, Nevada . In Alberta, Canada the Company operates Century Casino & Hotel in Edmonton , the Century Casino in St. Albert , Century Mile Racetrack and Casino in Edmonton and Century Downs Racetrack and Casino in Calgary . In Poland , the Company operates six casinos through its subsidiary Casinos Poland Ltd. The Company continues to pursue other projects in various stages of development.
Century Casinos ' common stock trades on The Nasdaq Capital Market® under the symbol CNTY. For more information about Century Casinos , visit our website at www.cnty.com .
FORWARD-LOOKING STATEMENTS
This release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These statements include expectations of revenues from the agreement with BetMGM as well as the timing and ability to receive licenses and regulatory approvals for the agreement and are based on the beliefs and assumptions of the management of Century Casinos based on information currently available to management. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from the forward-looking statements include, among others, the risks described in the section entitled "Risk Factors" under Item 1A in our Annual Report on Form 10-K for the year ended December 31, 2024 and in subsequent periodic and current SEC filings we may make. Century Casinos disclaims any obligation to revise or update any forward-looking statement that may be made from time to time by it or on its behalf.
SOURCE Century Casinos, Inc.
FAQ**
How does Century Casinos expect the partnership with BetMGM to impact its overall revenue, particularly in reference to GVC Holdings Plc - ADR GMVHY and similar companies in the sports betting sector?
What specific percentage of net gaming revenue will Century Casinos receive from BetMGM under the new agreement, and how does this compare to industry standards set by companies like GVC Holdings Plc - ADR GMVHY?
What are the potential risks identified by Century Casinos in this partnership with BetMGM, and how might they parallel the challenges faced by GVC Holdings Plc - ADR GMVHY in the sports betting market?
How will the retail sportsbook options at Century's discretion enhance its competitiveness in Missouri's market compared to other operators like GVC Holdings Plc - ADR GMVHY?
**MWN-AI FAQ is based on asking OpenAI questions about GVC Holdings Plc - ADR (OTC: GMVHY).
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