Century Casinos posts successful Q1

Century Casinos posted net operating revenue of US$45.6 million in Q1, a 12% increase from 2018.

US.- Century Casinos has announced its financial results for the first three months of the year ended March 31. Net operating revenue for Century Casinos was US$45.6 million, which is an increase of 12% from 1Q in 2018.

The company revealed that earnings from operations were US$3.4 million, a 6% increase from the three months ended March 31, 2018. Net earnings attributable to Century Casinos’ shareholders were US$1.1 million in 1Q, an increase of 15% from the same period last year. Furthermore, adjusted EBITDA was US$6.7 million, a 2% rise from the first quarter of 2018.

“We are pleased with the 12% net operating revenue growth this quarter, with all reportable segments contributing to the results. Adjusted EBITDA growth in 1Q was hit by US$700k of additional non-recurring expenses related to the opening of our newest property, Century Mile Racetrack and Casino,” Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos said.

“Century Mile began operating the northern-Alberta pari-mutuel network at the beginning of the year contributing to the US$1.6 million revenue growth in the Canada reportable segment,” they continued. “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,” Haitzmann and Hoetzinger concluded.