Century Casinos Stock Price, News & Analysis

Century Casinos (CNTY) has reopened its eight casinos in Poland as of February 12, 2021, following a mandatory closure since December 28, 2020, due to COVID-19 restrictions. The reopening is contingent on government mandates and is set to be reassessed by February 28, 2021. Social distancing and health protocols will be enforced. Century Casinos holds a 66.6% interest in its Polish subsidiary, Casinos Poland Ltd. The company warns of potential future closures depending on government regulations.

Century Casinos (CNTY) announced the closure of its Polish casinos through January 31, 2021, due to extended COVID-19 quarantines mandated by the Polish government. These casinos accounted for 4% of the Company's Adjusted EBITDA as of September 30, 2020. Given the rapidly evolving COVID-19 situation, the impact on Century Casinos is expected to be adverse at least through the first half of 2021. The Company operates casinos in various locations, including Colorado and Canada, and holds significant stakes in Polish and Canadian operations.

Century Casinos (CNTY) announced its Polish casinos will temporarily close from December 28, 2020, to January 18, 2021, in compliance with government quarantines aimed at curbing COVID-19 spread. This closure impacts approximately 4% of the Company's Adjusted EBITDA for the third quarter of 2020. The ongoing pandemic is expected to adversely affect the Company through at least the first half of 2021.

Century Casinos, Inc. (CNTY) has entered a 10-year agreement with Rush Street Interactive (RSI) to offer interactive gaming in West Virginia. The deal, which includes minimum revenue guarantees and a monthly share of net gaming revenue, is set to begin in Q2 2021. Century has already acquired its master license for the state, facilitating the launch of the BetRivers brand. This partnership enhances Century's market presence and revenue potential in the growing online gaming sector.

Century Casinos (CNTY) announced the temporary closure of its Canadian casinos and racetracks effective December 12, 2020, due to COVID-19 restrictions mandated by the Alberta government. This closure will impact the Company at least through the first half of 2021 as the situation evolves. Century Casinos operates various gaming establishments across North America and holds stakes in international gaming companies. The government plans to reassess the mandate in four weeks.

Century Casinos reported significant growth in its third quarter 2020 financial results, with net operating revenue increasing by 81% to $95.7 million compared to the previous year. Earnings from operations rose by 331% to $15.0 million, while net earnings attributable to shareholders soared by 678% to $3.7 million. Adjusted EBITDA experienced a 213% increase, reaching $22.2 million. The positive results were largely driven by the acquisition of several properties. However, the ongoing COVID-19 pandemic continues to impose challenges on operations.

Century Casinos, Inc. (Nasdaq: CNTY) will release its Q3 2020 earnings on November 6, 2020. A conference call will be held at 8:00 a.m. MST to discuss the results, with participants encouraged to dial in 15 minutes early. The company has a broad portfolio of casinos in the U.S., Canada, and Poland, and is actively pursuing further development projects. The upcoming earnings report will provide insights into the company's performance amidst the ongoing impacts of the COVID-19 pandemic.

Century Casinos, Inc. (CNTY) has finalized a 10-year agreement with Tipico to launch internet sports betting in Colorado. The partnership will provide a one-time market access fee, a minimum annual revenue guarantee, and a percentage of net gaming revenue for Century Casinos. The company already holds a master license in Colorado and has previously partnered with Circa Sports and bet365. Tipico, a leading sports betting provider founded in Europe, aims to leverage this partnership to enhance its market presence in the U.S.

On September 14, 2020, Century Casinos (CNTY) announced the successful reopening of live table games at multiple locations in Canada and Colorado, including Century Casino in Edmonton and Central City. The reopening occurred between September 7 and September 11, 2020, with strict health protocols in place based on Alberta Health Services guidelines. Additionally, Century Casino and Hotel in Central City was recognized as Denver's Best Casino in 2020. These developments may enhance customer engagement and revenue potential as operations resume amid COVID-19 restrictions.