Century Casinos revenue rises 28% in 2023
Century Casinos has reported that full-year net revenue reached $550.2m.
US.- Century Casinos has reported net revenue of $550.2m for 2023. That’s a rise of 28 per cent year-on-year. The company reported earnings from operations of $64m, a decrease of 5 per cent. the net loss attributable to shareholders was $28.2m and adjusted EBITDAR, it was $114m, an increase of 10 per cent.
Erwin Haitzmann and Peter Hoetzinger, co-chief executive officers of Century Casinos, said: “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 added: “Unanticipated licensing delays that resulted in closures of three of our casinos in Poland in the fourth quarter caused earnings from operations in Poland to decrease compared to 2022. We have been awarded all three licences, we reopened one casino in February 2024 and anticipate reopening the second casino this month and the final casino in a new location in the third quarter of 2024. 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.”
For the fourth quarter of 2023, Century Casinos reported net operating revenue of $143.8m, an increase of 39 per cent. Adjusted EBITDA rose 17 per cent to $25.4m.
