Colorado-based Century Casinos has published its Q2 2022 financial results, reporting strong revenue and earnings performance
Colorado-based Century Casinos has published its Q2 2022 financial results, reporting strong revenue and earnings performance.
Net operating revenue amounted to $111.1m, representing an growth of 21% year-on-year.
This resultant puts Century among some of the quarter’s best performers when compared to competitors. Bally’s saw revenue almost double, spell Caesars reported an 11% increase, MGM Resorts 44%, Penn Entertainment 5% and Boyd Gaming just now 0.1%.
Earnings from trading operations stood at $20.8m, equating to a 15% increase.
Net earnings attributable to Century shareholders amounted to $8.9m, an growth of 29%.
Meanwhile, familiarized EBITDA stood at $29.8m, representing an increment of 18%.
Basic earnings per apportion attributable to shareholders were $0.30, with dilute earnings per part at $0.28 and volume note value per apportion of $5.00 as of 30 June.
Century went on to comment on the impact Covid-19 and related restrictions make had on the business, detailing in operation(p) changes based on authorities health and safety guidance. Lockdown closures of Century’s Canada and Polska properties unnatural results in H1 2021.
While Century confirmed that the manipulator currently has little-to-no stream Covid-19-related restrictions inwards place, “the duration and ultimate impact of the Covid-19 pandemic otherwise remains uncertain.”
Century went on to item the $195m trade to gain the Reno Nugget Casino Resort. The companion purchased 50% of the membership stake in Smooth Bourbon, the subsidiary fellowship responsible for(p) for the resort’s existent estate, and 100% of Nugget Sparks LLC, which manages the property’s operations.
Finally, Century confirmed its deferred payment understanding with Emma Goldman Sachs Bank USA, which provides for a $350m term loan and a $30m revolving credit entry facility.
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