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 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 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.
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.
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.
Century Casinos (Nasdaq: CNTY) announced its participation in the B. Riley 22nd Annual Institutional Investor Conference on May 26, 2022, in Beverly Hills, California. Peter Hoetzinger, President & Co-CEO, will present the company and engage in one-on-one meetings with selected institutional investors. The current company presentation will be accessible on their website on the same date.
Century Casinos operates multiple casinos across the U.S. and Canada and holds interests in various international gaming establishments.
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.