Century Casinos Stock Price, News & Analysis

Century Casinos, Inc. (CNTY) reported a strong financial performance for Q1 2022, achieving net operating revenue of $103.1 million, a 42% increase compared to Q1 2021. Earnings from operations surged 58% to $13.0 million, while net earnings attributable to shareholders rose 115% to $0.2 million. The company acquired a 50% stake in Smooth Bourbon, LLC for $95 million and plans to purchase 100% of Nugget Sparks, LLC for $100 million. Additionally, Century Casinos entered into a $350 million term loan with Goldman Sachs to fund its acquisitions.

Century Casinos, Inc. (CNTY) announced that it will release its earnings for the first quarter of 2022 on May 6, 2022. A conference call is scheduled for the same day at 8:00 am MDT. Participants are advised to join 15 minutes early, with US and Canadian callers using 800-954-0695, while international participants can dial +1 212-231-2939. The conference ID is 'Quarter1'. For more details, visit the company's website.

On April 1, 2022, Century Casinos (NASDAQ: CNTY) announced the completion of its acquisition of 50% of membership interests in Smooth Bourbon, LLC for $95 million. Smooth Bourbon owns the land and building of Nugget Casino Resort, which operates under a $15 million annual lease with Nugget Sparks, LLC. Century expects to gain $1.9 million quarterly from this lease. A future acquisition of 100% of Nugget's operating assets for $100 million is scheduled, pending regulatory approval. This purchase is financed through a new credit facility from Goldman Sachs.

Century Casinos (Nasdaq: CNTY) reported its Q4 2021 and full-year results, showcasing a 27% increase in net operating revenue to $107.3 million for Q4 and a 28% rise to $388.5 million for the year. Despite this growth, earnings from operations dropped 12% for Q4 due to increased operating costs. Adjusted EBITDA surged 36% in Q4, reaching $24.9 million, with full-year adjusted EBITDA rising 102% to $97.9 million. The company plans significant expansions including a land-based casino and hotel projects estimated at $73 million.

Century Casinos (Nasdaq: CNTY) will announce its fourth quarter and year-end earnings for 2021 on March 8, 2022. A conference call will take place at 8:00 a.m. MST, and participants should dial in 15 minutes early. The call can be accessed via the company's website post-event.

Century Casinos owns and operates various casinos across North America, including Nugget Casino Resort in Reno, under acquisition. The company also has significant interests in European operations.

Century Casinos has partnered with Betmakers' Global Racing Network to expand the distribution of its horse racing content from Century Downs Racetrack and Casino (CDR) and Century Mile Racetrack and Casino (CMR). Starting February 26, 2022, licensed global betting operators can now access CDR and CMR's thoroughbred and standardbred race content for wagering. This move aims to enhance the company's market presence, particularly in regions such as Australia and Asia, and attract new racing enthusiasts worldwide.

Century Casinos (CNTY) has entered into an agreement to acquire a 50% interest in Smooth Bourbon, LLC and 100% of Nugget Sparks, LLC for $195 million. The deal includes a five-year option to acquire the remaining 50% of PropCo for $105 million. The acquisition is expected to enhance free cash flow and be accretive to earnings, with an implied Adjusted EBITDA multiple of 5.6x. The Nugget Casino Resort generated $100.4 million in revenue and $32.8 million in Adjusted EBITDA in 2021. Financing includes $350 million in secured loans from Goldman Sachs.

Century Casinos, Inc. (Nasdaq: CNTY) announced the sale of its Calgary property to Rowanwood Financial Properties Ltd. for CAD 8.1 million ($6.5 million). The buyer paid CAD 0.7 million upfront, with the remaining CAD 7.4 million due at closing. The transaction is expected to finalize within 30 days. Previously, the casino operations on the property were sold in December 2020, but Century Sports will cease once the sale is complete. This strategic move is aimed at optimizing the company's asset portfolio.

Century Casinos, Inc. (CNTY) reported a strong financial performance for Q3 2021, with net operating revenue of $116.6 million, a 22% increase year-over-year. Earnings from operations surged by 71% to $25.7 million, while net earnings attributable to shareholders rose by an impressive 200% to $11.2 million. Adjusted EBITDA reached $33.1 million, up 49%. The company is planning significant expansions, including a $68.3 million relocation to a land-based casino in Missouri, set to open in early 2024. As of September 30, 2021, CNTY boasts over $100 million in cash and minimal debt maturities until 2026.