Century Casinos revenue rises 43% in Q3 2023
Third-quarter net operating revenue was $161.2m.
US.- Century Casinos has reported financial results for the quarter ended September 30. The company has reported net operating revenue of $161.2m, up 43 per cent compared to the same period last year.
Earnings from operations decreased by 28 per cent to $14.5m, due to falls outside the US. Earnings from operations in the US increased by 21 per cent to $19.8m but in Canada decreased by 47 per cent to $2.1m and in Poland 52 per cent to $1.3m. Adjusted EBITDA rose 19 per cent to $33.3m.
Erwin Haitzmann and Peter Hoetzinger, co-chief executive officers of Century Casinos, said: “With our acquisitions of the Nugget Casino Resort and Rocky GapCasino, Resort & Golf we achieved record high net operating revenue and Adjusted EBITDA. One time expenses related to the Rocky Gap acquisition and Canada sale leaseback transaction negatively impacted our earnings from operations and net loss for the quarter. Looking ahead we anticipate revenue and operating expense trends to remain consistent with what we have seen the last several quarters.”
They added: “The completion of the Canada sale leaseback reduced our net debt from $255.5m as of June 30, 2023 to $158.9m as of September 30, 2023.”
