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, Inc. (NASDAQ: CNTY) generates a steady flow of news as a casino entertainment company with operations in the United States, Canada and Poland. Company updates frequently cover performance at its regional casinos and resorts, developments at racetrack casinos in Alberta, and regulatory and licensing changes affecting its Polish subsidiary, Casinos Poland Ltd.
Investors following CNTY news see regular earnings releases detailing net operating revenue, earnings from operations, net income or loss attributable to Century Casinos, Inc. shareholders and segment-level results for the United States, Canada and Poland. These reports often highlight trends by region, the impact of items such as interest expense and non‑controlling interests, and non‑GAAP measures such as Adjusted EBITDAR.
Century’s news flow also includes strategic and corporate actions. The company has announced a strategic review process to evaluate potential alternatives for its assets and businesses, including possible asset sales, partnerships, mergers or a sale of the company. It has also disclosed a Rule 10b5‑1 share repurchase plan under a previously authorized buyback program.
Operational headlines feature property-level developments, such as the opening of a new casino and hotel in Caruthersville, Missouri, entertainment programming at the Nugget Casino Resort’s Celebrity Showroom, and licensing changes and new casino openings in Poland. In Missouri, news has focused on Century’s long-term partnership with BetMGM, the launch of an online and mobile sports betting application under Century’s license, and the opening of a BetMGM-branded retail sportsbook at Century Casino & Hotel Cape Girardeau.
Regulatory and financial reporting items, including Form 8‑K filings about restatements related to the Rocky Gap reporting unit and notifications of late Form 10‑Q filings, also appear in CNTY coverage. For a comprehensive view of Century Casinos’ evolving operations, capital decisions and regional performance, readers can review this news feed over time.
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.