Century Casinos (CNTY) risk factors, FY2024 10-K

Business Environment and Competition Risks

1. 01We face significant competition, and if we are not able to compete successfully, our results of operations will be harmed
2. 02We may seek to expand through investments in other businesses and properties or through alliances or acquisitions, and we may also seek to divest some of our properties and other assets, any of which may be unsuccessful
3. 03any of which could adversely affect our ability to maintain relationships with customers, suppliers, employees and other constituencies or our ability to achieve the anticipated benefits, or could reduce our earnings or otherwise adversely affect our business and financial results
4. 04Credit and Liquidity Risks
5. 05affect our ability to renew gaming and other licenses necessary to conduct our business
6. 06We may be unable to obtain the capital necessary to fund our operations or potential acquisitions
7. 07A majority of our casinos are located on leased property. If we default on one or more leases or if we are unable to secure renewals of those leases, the applicable lessors could terminate the affected leases and we could lose possession of the affected leased property
8. 08We may not be fully compensated to relocate the Nugget Casino and may be required to seek additional funding if the Nevada Department of Transportation (“NDOT”) project moves forward

Operational Risks

1. 09Our financial condition and results of operations may be adversely affected by climate change, the occurrence of severe weather, natural or man-made disasters and other catastrophic events, including war, terrorism and other acts of violence, and outbreaks of disease
2. 10Our insurance coverage may not be adequate to cover all possible losses that our properties could suffer, our insurance costs may increase, and we may not be able to obtain the same insurance coverage in the future
3. 11We may use artificial intelligence (“AI”) in our business, and challenges with properly managing its use could result in reputational harm, competitive harm, and legal liability, and adversely affect our results of operations
4. 12We are subject to risks related to corporate social responsibility and sustainability matters and our business reputation, which may negatively affect our business and operations
5. 13Difficulties in managing our worldwide operations may have an adverse impact on our business
6. 14culture, management and language differences
7. 15We are dependent upon technology services and electrical power to operate our business, and if we experience damage or service interruptions, we may have to cease some or all of our operations, resulting in a decrease in revenue
8. 16We face the risk of fraud, theft, and cheating

Legal, Regulatory and Compliance Risks

1. 17We face extensive regulation from gaming and other regulatory authorities, which involve considerable expense and could adversely impact our business, and potential changes in the regulatory environment also may adversely impact us
2. 18We depend on agreements with our horsepersons and pari-mutuel clerks. Failure to renew or modify agreements on satisfactory terms could materially adversely affect us
3. 19The enactment of legislation implementing changes in the US taxation of international business activities or the adoption of other tax reform laws or policies could materially affect our financial position and results of operations
4. 20We face extensive taxation from gaming and regulatory authorities. Potential changes to the tax laws in the jurisdictions in which we operate may adversely affect the results of our operations
5. 21Our effective tax rate or cash tax payment requirements may change in the future, which could adversely impact our future results of operations
6. 22Any violation of the Foreign Corrupt Practices Act or any other similar anti-corruption laws could have a negative impact on us
7. 23Any failure to protect our trademarks could have a negative impact on the value of our brand names and adversely affect our business

Human Capital Risks

1. 24The loss of key personnel could have a material adverse effect on us
2. 25Our business, financial condition, and results of operations may be harmed by staff shortages, work stoppages and other labor issues

Common Stock and Stockholder Risks

1. 26Certain anti-takeover measures we have adopted may limit our ability to consummate transactions that some of our security holders might otherwise support
2. 27Stockholders may be required to dispose of their shares of our common stock if they are found unsuitable by gaming authorities
3. 28We are or may become involved in legal proceedings that, if adversely adjudicated or settled, could impact our financial condition
4. 29We have recorded and may be required in the future to record impairment losses related to assets we currently carry on our balance sheet
5. 30Fluctuations in currency exchange rates and currency controls in foreign countries could adversely affect our business