Century Casinos generates $143.8m in Q4 net operating revenue

Century Casinos has released its fourth quarter and end-of-year financial results for 2023. The operator posted $143.8m in net operating revenue for the fourth quarter, reflecting a 39% boost year-over-year.

Net operating revenue fell within the range the company had predicted when it released its preliminary results. Century estimated that the quarter yielded between $140m and $145m in net operating revenue during the quarter.

Fourth-quarter earnings from operations reached $12.6m.

Century reported a Q4 net loss of $10.8m. Its EBITDAR rose by 17% to reach $25.4m.

For the fiscal year, Century Casinos brought in $550.2m in net operating revenue, up 28% when compared to results from the previous year.

Earnings from operations reached $64m for the year. The company posted a net loss for 2023 that totaled $28.2m.

Adjusted EBITDAR for 2023 rose by 10% to $114m.

Company Co-CEOs Erwin Haitzmann and Peter Hoetzinger took a moment to discuss the company’s latest results by saying, “2023 was a transitional year for Century. We completed two major acquisitions to expand our US portfolio to seven casinos.

“We continued our large construction projects in Missouri, which remain on time and on budget to open in early April for the Cape Girardeau hotel and late 2024 for the Caruthersville casino and hotel.”

They also shared the company’s goals going into 2025.

Haitzmann and Hoetzinger said in closing, “We are excited to look forward to 2025, when our newly acquired casinos are fully integrated into the company and to what we anticipate will be our first year since 2022 with no significant construction or renovation disruptions at our properties.”

Sarah Chen

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