Welcome to our dedicated page for Century Casinos news (Ticker: CNTY), a resource for investors and traders seeking the latest updates and insights on Century Casinos stock.
Century Casinos reports developments for a casino entertainment company operating gaming, hotel, racing, restaurant and entertainment assets in North America and Poland. Its updates commonly cover quarterly operating results, net operating revenue, Adjusted EBITDAR, and segment trends across US East, US Midwest, US West, Canada and Poland.
Company news also includes property-level activity at Mountaineer, Rocky Gap, Century Casinos & Hotels in Missouri and Colorado, the Nugget Casino Resort, Alberta casinos and racetracks, and Casinos Poland. Recurring topics include sports betting partnerships and sportsbook launches, development projects, goodwill impairment and financial-statement restatement matters.
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.
Century Casinos, Inc. (NASDAQ: CNTY) reported significant financial declines for Q2 2020, with a net operating revenue of $36.1 million, down from $52.4 million in Q2 2019, marking a 31% decrease. The company posted a net loss attributable to shareholders of $12.6 million, a stark contrast to a loss of $0.6 million the previous year, equating to a 2131% decline. Adjusted EBITDA also saw a decline of 126%, amounting to a loss of $1.8 million. The COVID-19 pandemic severely impacted operations, prompting temporary closures and subsequent cost-saving measures. Cash reserves decreased to $51.6 million by quarter-end.
Century Casinos, Inc. (Nasdaq: CNTY) has finalized an agreement to sell its Calgary casino operations for CAD 10.0 million ($7.5 million). The sale, effective immediately, includes a three-year quarterly earn-out. CRA will continue operating its Century Sports venue and retain ownership of the real estate. The annual lease for the premises will be approximately CAD 480,000 ($358,102). In 2019, the Calgary casino generated $8.4 million in net operating revenue and $1.2 million in Adjusted EBITDA.
Century Casinos (CNTY) will release its Q2 2020 earnings on August 7, 2020, and will host a conference call at 8:00 a.m. MDT. Participants should dial in 15 minutes early: US/Canada +1 844-244-9160, International +1 330-931-4670 with conference ID 'Quarter2'. The company's operations include casinos in Colorado, Alberta, Missouri, and West Virginia, and they hold stakes in international gaming ventures. For further details, visit Century Casinos Financials.
On June 15, 2020, Century Casinos, Inc. (CNTY) announced the successful reopening of its five casinos in Alberta, Canada, which resumed operations on June 13, 2020. This includes Century Casino & Hotel Edmonton, Century Casino St. Albert, Century Mile Racetrack and Casino, Century Downs Racetrack and Casino, and Century Casino Calgary. Comprehensive sanitizing and social distancing protocols were implemented before reopening, following Alberta Health Services guidelines.