Century Casinos reports $116.6m revenue in Q3
The company has reported a 202.7 per cent year-on-year increase after its performance in 2020 was impacted by the Covid-19 pandemic.
US.- Century Casinos has published its financial results for the third quarter of 2021. For Q3, ending September 30, it reported $116.6m revenue, up 202.7 per cent year-on-year from $95.7m. It reported growth in all regions after Century’s performance in 2020 was impacted by the Covid-19 pandemic.
The operator’s US properties reported $73.89m, up 18 per cent from $62.64m in the same period last year. All of Century’s US properties were open and operational in Q3 as Covid-19 measures in the country were eased.
Canadian revenue climbed 28.9 per cent to $21.4m after casinos in the country reopened on June 10. Casinos in Poland generated $21.15m, up 30 per cent from Q3 2020, when they reported $16.33m.
Century’s co-chief executives Erwin Haitzmann and Peter Hoetzinger said: “In the third quarter we achieved outstanding results. We achieved our highest quarterly net operating revenue and adjusted EBITDA in the company’s history and a consolidated adjusted EBITDA margin of 28.3 per cent.
“We continue to have a strong balance sheet, with cash over $100m and no substantial debt maturities before 2026.”
Century plans to relocate Century Casino Caruthersville
Century has announced plans to relocate Century Casino Caruthersville in Missouri and take the riverboat casino on to land. The company plans to open in early 2024.
The company also plans to build a hotel at Missouri´s Century Casino Cape Girardeau for 2023. The projects are expected to cost a total of $68.3m, financed with cash on hand, financing, or a combination of the two.
Haitzmann and Hoetzinger commented: “We are exploring exciting growth opportunities at our two Missouri properties with plans to build a hotel at each property and a land-based casino in Caruthersville.”
