Operator News

US – Century Casinos up by 23 per cent despite ‘transitional stage’

Century Casinos saw its net operating revenue increase by $25.6m, or 23 per cent, and by $31m, or 15 per cent, for the three and six months ended June 30, 2023, compared to the three and six months ended June 30, 2022.

Following is a summary of the changes in net operating revenue by reportable segment for the three and six months ended June 30, 2023, compared to the three and six months ended June 30, 2022.

The company’s earnings from operations decreased by $2.2m, or 10 per cent, and increased by $3.2m, or nine per cent, for the three and six months ended June 30, 2023, compared to the three and six months ended June 30, 2022. Following is a summary of the changes in earnings (loss) from operations by reportable segment for the three and six months ended June 30, 2023, compared to the three and six months ended June 30, 2022.

“We are pleased with the results of this quarter, generating record revenue due to the addition of the Nugget Casino Resort, partially offset by construction disruption at our Missouri properties. We believe the outlook for the Nugget is positive with record group bookings at the hotel for the second half of this year and continuing into 2024,” Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos remarked. “We are in a transitional stage taking over two properties in gaming jurisdictions new to us, and we incurred additional expenses related to the acquisitions while facing inflationary cost pressures from payroll wages and benefits, insurance and utilities. We look forward to continuing growth from the Nugget and contribution to our results from Rocky Gap, our newest acquisition in Maryland,” Messrs. Haitzmann and Hoetzinger concluded.