Century Casinos Stock Price, News & Analysis

VICI Properties reported a strong third quarter for 2022, achieving total revenues of $751.5 million, a 100% increase year-over-year. Net income rose to $330.9 million or $0.34 per share. The company announced an 8.3% increase in its dividend to $0.39 per share and proceeded to acquire Rocky Gap Casino Resort for $203.9 million. VICI also expanded its partnership with Great Wolf Resorts through $186 million in loans. The updated AFFO guidance for 2022 is projected between $1,682 million and $1,692 million.

Century Casinos (Nasdaq: CNTY) will attend the Wells Fargo 5th Annual Consumer Conference on September 21, 2022, in Dana Point, California. Peter Hoetzinger, President & Co-CEO, will present and hold one-on-one meetings with institutional investors. The presentation will be available on the Company’s website the same day. Century Casinos operates multiple venues across the U.S. and Canada, including casinos in Colorado, Missouri, and West Virginia. The Company also has interests in Polish casinos and racetracks in Canada.

Century Casinos (CNTY) announced that bet365 has launched its internet and mobile sports betting application in Colorado using one of the Company's master licenses. This 10-year agreement includes a minimum annual revenue guarantee and a share of net gaming revenue, with an advance fee paid at contract signing in May 2020. Bet365 is a leading online sports betting company with nearly $4 billion in annual revenues. The partnership aims to enhance Century Casinos' revenue through a stable and lucrative sports betting market.

VICI Properties Inc. has announced a definitive agreement to acquire Rocky Gap Casino Resort from Golden Entertainment for $260 million. The acquisition includes approximately $203.9 million for the property and $56.1 million for operating assets. This transaction will be instantly accretive, increasing annual rent by $15.5 million and extending the Century Master Lease by 15 years. The deal is expected to close mid-2023, pending regulatory approvals.

Golden Entertainment announced the sale of Rocky Gap Casino Resort for a total cash consideration of $260 million. Century Casinos will acquire operations for $56.1 million, while VICI Properties will purchase the land and buildings for $203.9 million. The deal reflects about 10x Adjusted Property EBITDA for the trailing twelve months ended June 30, 2022. Expected to close by mid-2023 pending regulatory approvals, this transaction aims to enhance Golden's focus on core markets and is seen as a strategic move to improve financial flexibility and shareholder value.

Century Casinos announced a definitive agreement to acquire the operations of Rocky Gap Casino Resort for approximately $56 million. The acquisition will be funded using cash from the company's balance sheet. VICI Properties will acquire the real estate assets for about $204 million and amend the lease to include Rocky Gap, with an initial rent of approximately $15.5 million annually. The deal, expected to close mid-2023, is projected to be immediately accretive to earnings, with Rocky Gap reporting a net operating revenue of $78 million and an Adjusted EBITDA of $27 million in 2021.

Century Casinos reported strong financial results for Q2 2022, with net operating revenue reaching $111.1 million, a 21% increase year-over-year. Earnings from operations rose 15% to $20.8 million, while net earnings attributable to shareholders surged 29% to $8.9 million. Adjusted EBITDA grew 18% to $29.8 million. The company's acquisition of Nugget Casino Resort positions it favorably in the Reno/Sparks market. Despite issues in the U.S. segment, Canada and Poland reported significant revenue growth, with Canadian revenue up 186% and Polish revenue up 150%.

Century Casinos, Inc. (Nasdaq: CNTY) will release its Q2 2022 earnings on August 5, 2022, followed by an earnings conference call at 8:00 am MDT. Participants can join by calling 800-920-5564 (US/Canada) or +1 415-226-5355 (International) with conference ID 'Quarter2'. Century Casinos operates various casinos and entertainment venues in the US and Canada, and a 66.6% stake in Casinos Poland. The company's stock is traded on the Nasdaq under the symbol CNTY.

Rush Street Interactive (NYSE: RSI) has announced the addition of its online sportsbook to the BetRivers platform in West Virginia, enhancing its existing online casino services. The integrated app allows users to bet on various sports and access casino games seamlessly. The BetRivers sportsbook features a wide range of betting markets and a user-friendly interface. RSI's platform has recently captured a low-teens market share in West Virginia's online casino sector since its launch in April 2021. The company emphasizes a trusted betting experience with innovative features and customer service.