Century Casinos Q3 net operating revenue falls, with net loss posted
However, the operator is opened a new Caruthersville casino, home to 26,000 square feet of gaming floor space.
Key Points
- Operating revenue dipped slightly when compared to Q3 results from last year
- The operator celebrated its long-anticipated Missouri casino grand opening
Century Casinos has released its business and financial results for this year’s third quarter. The company’s net operating revenue fell by 3% year-over-year to total $155.7m.
However, earnings from operations during the third quarter reflected a 24% increase when compared to last year’s results. The organisation posted $17.9m in its earnings from operations.
Century reported a Q3 net loss of $8.1m. Its EBITDAR fell by 1% year-over-year and totaled $32.9m.
Company Co-CEOs Erwin Haitzmann and Peter Hoetzinger explained the factors that influenced this quarter’s results.
They said in a joint statement, “Earnings from operations were in line with our expectations for the third quarter.”
In other company news, Century Casinos has opened its new land-based casino in Caruthersville, Missouri. The destination features nearly 600 slot machines and eight live tables in its 26,000 square feet of gaming space.
Haitzmann and Hoetzinger took a moment to celebrate the grand opening by saying, ” This past Friday we opened the new land-based casino and hotel in Caruthersville, Missouri. We are excited about the completion of the transformation of the Century Casino & Hotel in Caruthersville from the last remaining riverboat on the Mississippi River and a temporary location in a small pavilion during the last two years, to a full destination resort with a proper gaming floor, restaurant, bar, hotel rooms and RV park.
“The new resort will provide much improved and more convenient entertainment experiences, and we look forward to attracting customers from further into Missouri, Tennessee, and Arkansas.”
The Co-CEOs went on to discuss other company casino projects.
They said in closing, “We have also reopened the Wroclaw casino in Poland. This will decrease the disruptions we have had in our Poland segment.”
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