Century Casinos second quarter revenue reaches $146.4m
Operating revenue increased 7 per cent year-on-year.
US.- Century Casinos has reported financial results for the quarter ended June 30. Net operating revenue was $146.4m, up 7 per cent compared to the same period last year.
Earnings from operations fell 23 per cent to $14.3m. The net loss attributable to Century Casinos, Inc. shareholders was $41.6m and the basic loss per share was $1.36. Adjusted EBITDAR decreased by 6 per cent to $27.4m.
Century Casinos co-CEOs Erwin Haitzmann and Peter Hoetzinger said: “Results for the second quarter of 2024 were impacted by a valuation allowance on our US deferred tax assets, a disappointing performance at the Nugget Casino Resort as well as temporary closures of two casinos in Poland. The Nugget has undergone a leadership change and is implementing right-sizing and cost-cutting initiatives to improve its performance.
“We have completed the majority of our elevated capital expenditure projects and are projecting total capital expenditures to be approximately $12.6m for the remainder of 2024 and $12m in 2025. We look forward to opening our new land-based casino in Caruthersville, Missouri ahead of schedule later this year. The casino will increase gaming positions and hotel rooms in Caruthersville by approximately 50 per cent.”
