Century Casinos has reported its financial results for the fourth quarter and for the 2021 full year. The company’s net operating revenue was $107.3m, up 27% from the previous quarter.
Earnings from operations decreased by 12% to $16.4m. Net earnings attributable to its shareholders was $4m, a decrease of 41%.
Adjusted EBITDA climbed to $24.9m, reflecting a 36% bump from the prior quarter.
The full-year figures showed significant increases from 2020. During 2021, net revenue climbed by 28% and reached $388.5m.
Adjusted EBITDA reflected a 102% boost, reaching $97.9m for the year. The company reported an increase in its earnings from operations, which yielded a total of $68.5m.
Net earnings attributable to its shareholders was $20.6 million, an increase of 143% from last year. Basic earnings per share also surged by 143%, reaching $0.70, while diluted earnings per share increased by 141% to $0.66.
The global pandemic had a less negative impact on the company’s business numbers in 2021 than the year before, in large part due to its US properties remaining open throughout the year.
Co-CEOs Erwin Haitzmann and Peter Hoetzinger took a moment to thank team members for all their hard work.
"We would like to thank our team members for the enthusiasm and flexibility they have shown this year as we navigated operational restrictions and continuing changes brought about by Covid-19. Despite major restrictions at our Canada properties throughout the fourth quarter, we finished the year with strong results,” the two said in a joint statement.
They finished by saying the following: "We look forward to 2022 and seeing the increased potential of our properties as most Covid-19 restrictions have now been lifted. We are also excited about our upcoming acquisition of the Nugget Casino Resort in Reno-Sparks, Nevada and the continued expansion of our US portfolio.”
