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Century Casinos posts $21.7m in adjusted EBITDA for Q4

Century Casinos has announced its Q4 and fiscal year-end report, showing a 3% decrease in net operating revenue.

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For Q4, its adjusted EBITDA was down by 13%, totalling $21.7m; meanwhile, its net operating revenue fell to $103m – with a loss per share of $0.14.

For the year, net operating revenue increased by 11% to $430m, while its earnings from operations totalled $67m – down 1% on the previous year. Furthermore, its adjusted EBITDA was $103m, representing a 6% yearly increase.

The results come after Century Casinos acquired the Rocky Gap Casino Resort for $56m last year.

Erwin Haitzmann and Peter Hoetzinger, Co-CEOs of Century Casinos, said: "We finished 2022 with record net operating revenue and Adjusted EBITDA despite disruptions and temporary closures at our Caruthersville property due to low water levels in the Mississippi River.  

“In December 2022, we completed the relocation of the Caruthersville casino from the riverboat and barge to the land-based pavilion, where we will operate the casino until the casino and hotel development project is complete.

“The Nevada Gaming Control Board has unanimously recommended approval to the Nevada Gaming Commission of our applications to acquire the Nugget Casino Resort and related approvals and findings of suitability. Our applications must still be approved by the Nevada Gaming Commission at its meeting on March 23, 2023. If approved, we plan to close the Nugget acquisition in early April 2023."

Overall, in the past five days, Century’s share price has fallen by 0.82% ahead of the financial report – now priced at $8.41.


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