Century Casinos expects revenue increase
After acquiring three Eldorado Resorts’ venues, Century Casinos hopes revenue will continue to go up, as they have done over the last few months.
US.- After acquiring three Eldorado Resorts properties, Century Casinos is forecasting a bright future. The firm posted good third-quarter figures and hopes to keep going up once it completes the landmark deal.
The US$107 million will have the company taking over Missouri’s Isle Casino Cape Girardeau and Lady Luck Caruthersville. Moreover, the Mountaineer Casino which got its West Virginia Lottery Commission licence only last month.
Vici Properties will acquire the real estate of all buildings for US$278 million. Afterwards, the operator will sign a triple net lease agreement for the three gaming venues.
Century Casinos also reported operating revenue going up 22% to US$52.9 million in the third quarter.
In the US, revenue reached US$22 million, 41% up from US$15.6m.
“Operations at Century Mile continue to ramp up and we are pleased with the revenue generated at the property, which is in line with our expectations,” stated Erwin Haitzmann and Peter Hoetzinger, co-chief executive officers of Century Casinos.
“We continue to analyse the cost structure, staffing levels and efficiencies of Century Mile to achieve the margins we expect. That is normal during the first phase of operations. We look forward to closing the Eldorado acquisition and see some short-term low-cost measures that we can implement to improve performance.”
