Century Casinos closes Canadian properties under new quarantine measures
Century Casinos has announced it will close its Canadian casinos and racetracks from Saturday in response to new COVID-19 quarantine measures introduced by the Alberta government.
On Tuesday, the Alberta Government ordered the closure of all casinos and gyms. The government also banned dine-in services at restaurants and bars and introduced other measures such as mandatory mask requirements.
This will be the second time Century Casinos has been forced to close its properties as a result of the coronavirus pandemic – the first occurring in March. Properties began to open again from June.
The operator has recognised that this ‘second wave’ of COVID-19 will lengthen its impact on company revenue. A statement on the Century Casino’s website read: “The COVID-19 situation continues to evolve rapidly, and it currently appears that due to the pandemic’s current scope it will adversely impact the Company at least through the first half of 2021.”
For Q3 2020, net operating revenue was $95.7m, an increase of 81% from 2019 levels. Earnings from operations totalled $15m, an increase of 331% year-on-year.
The company’s Q3 results were enhanced by the acquisition of Mountaineer Casino, Racetrack and Resort, Century Casino Cape Girardeau and Century Casino Caruthersville in December 2019.
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