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.
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Century Casinos completed the acquisition of Nugget Casino Resort from Marnell Gaming for approximately $100 million on April 3, 2023. This acquisition boosts Century's portfolio to 18 casinos globally, with pro forma combined net operating revenue for 2022 estimated at $529.6 million and Adjusted EBITDA at $129.9 million. The Nugget, located in Sparks, Nevada, features extensive amenities including a gaming floor, hotel towers, and convention space. Century plans to enhance the Nugget's facilities and integrate it into their operations while financing the deal through borrowed funds from Goldman Sachs.
Century Casinos, Inc. (CNTY) reported its financial results for Q4 2022 and the full year on March 10, 2023. In Q4, net operating revenue decreased by 3% to $103.8 million, while earnings from operations fell 16% to $13.8 million, resulting in a net loss of $4 million. For the full year, net operating revenue increased by 11% to $430.5 million, with adjusted EBITDA rising by 6% to $103.3 million. However, net earnings attributable to shareholders plummeted 61% to $8 million. The company completed a significant relocation of its Caruthersville casino and is set to acquire the Nugget Casino Resort, pending approval on March 23, 2023.