Gambling in the USA

Century Casinos Announces Financial Results for Q1 2019

Published

6 years ago

May 13, 2019

Niji Narayan

Century Casinos Enters into a Definitive Agreement to Acquire the Operations of Three Casinos from Eldorado Resorts

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Century Casinos, an international casino entertainment company, has announced its financial results for the first quarter of 2019. Net operating revenue is $45.6m, an increase of 12% from the three months ended March 31, 2018. Earnings from operations were $3.4m, an increase of 6% from 2018.

Net earnings attributable to shareholders were $1.1m, an increase of 15%. Adjusted EBITDA was $6.7m, an increase of 2%. Basic and diluted earnings per share were $0.04, an increase of 33%.

“We are pleased with the 12 per cent net operating revenue growth this quarter, with all reportable segments contributing to the increased results,” Co-CEOs Erwin Haitzmann and Peter Hoetzinger said.

“Adjusted EBITDA growth was impacted by $0.7m of additional non-recurring expenses related to the opening of our newest property, Century Mile Racetrack and Casino. Century Mile began operating the northern Alberta pari-mutuel network at the beginning of the year, contributing to the $1.6m revenue growth in the Canada reportable segment. We had a successful grand opening at Century Mile in April and are excited for the success this property has had in its first month of operation,” they added.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.