Entertainment company Century Casinos has today announced its results for Q2 2021, the period ending June 30.
Net operating revenue is recorded at $92.2m, which is a year-on-year increase of 155% or $56.1m.
The casino group also saw large gains in its earnings from operations, which saw a year-on-year increase of 957% at a total of $18.1m. These large increases are primarily due to Covid-19 preventing casino activity during Q2 of 2020.
In its statement, Century Casinos highlighted that, due to Covid-19, its Canadian properties remained closed until June 2021, and its US properties, despite being open since June 2020, remained restricted by safety guidelines.
For this reason adjusted EBITDA also saw a percentage increase of 1,532% in Q2, at a total of $25.2m. And net earnings loss attributable to Century Casinos shareholders increased by $19.5 million, or 154%.
"With all of our properties now open, we continue to show strong results and momentum,” said Erwin Haitzmann and Peter Hoetzinger, co-chief executive officers of Century Casinos, in a joint statement. “In the second quarter, we achieved our highest quarterly adjusted EBITDA in the company's history and a consolidated adjusted EBITDA margin of 27.4%. We continue to have a strong balance sheet and no substantial debt maturities before 2026."
Century Casinos owns and operates properties in a number of locations throughout North America and Europe. The company are owners of Century Casino & Hotels in Cripple Creek and Central City, Colorado, as well as the Century Casinos in Edmonton and Alberta, Canada. It also owns land-based properties in West Virginia.
