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NEWS 9 August 2018
Mixed results for Century Casinos during Q2 period
By Jake Patel

Century Casinos has reported a 6% year-on-year increase in net operating revenue totalling $39.6m in the Q2 period.

Operations in Canada generated $15.3m in net operating revenue, the most during that quarter, posting a year-on-year increase of 9%.

While US operations also saw a 7% increase accounting for $8.4m of net operating revenue.

Overseas, operations in Poland accounted for $14.5m of the total revenue, a 2% increase from the same period a year prior.

Nonetheless, despite an increase in revenue, there was a 73% decrease in earnings from operations with Century only earning $1m from its operations.

Century also reported an EBITDA $4.6m which was down by 27% compared to last year.

According to the report the decrease in EBITDA can be attributed to “non-recurring expenses” which include licensing in Poland and the opening of the Bath casino.

Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos said: “This quarter represented an important period for the long-term success of the Company.

“We opened our casino in Bath, England in May; we laid the foundation of a land-based presence in Asia with our Vietnam project; and we are finally seeing stability in Poland where we now hold eight casino licenses."

Earnings per share also took an 86% hit coming in at$0.01.

IN-DEPTH 15 October 2018
The road to and from sports betting in the US
Nicholas G. Colon, long time veteran of the casino gaming industry, explains why those who were optimistic about the recent PASPA ruling are now reaping the rewards, and those who were not are playing a difficult game