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, 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.