Century Casinos reports revenue drop for Q4
Century Casinos reported a 4 per cent decline in fourth-quarter revenue.
US.- Century Casinos has announced results for the fourth quarter and full year ended December 31, 2024. Q4 revenue declined 4 per cent year-on-year to $137.8m. Adjusted EBITDA was $21.1m, a decrease of 17 per cent.
For the full year, Century Casinos reported revenue of $575.9m, a 5 per cent increase from 2023. Earnings from operations were $4.3m, a decrease of 93 per cent. Adjusted EBITDAR was $102.7m, down 10 per cent.
Erwin Haitzmann and Peter Hoetzinger, co-chief executive officers of Century Casinos, said the highlight of the fourth quarter 2024 was the opening of the new land-based casino and hotel in Caruthersville, Missouri on November 1.
They added: “We continue to see weak trends from retail and low-end customers, which we believe is due to macro-economics impacting consumer spending in our markets. However, with no construction or renovation disruptions and the opportunity to realise returns from our recent growth capital initiatives, we believe Adjusted EBITDAR and cash flow will improve in 2025 as compared to 2024.”
