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Mar 31, 2021
Century Casinos Q1 2021 Earnings Report
Announced first quarter 2021 results.
Key Takeaways
Century Casinos reported a net operating revenue of $72.4 million, a decrease of 17% compared to the same period last year. Earnings from operations was $8.2 million, an increase of 126% from the same period last year. Net loss attributable to Century Casinos, Inc. shareholders was ($1.4) million, and Adjusted EBITDA was $14.7 million, an increase of 53% from the same period last year.
Net operating revenue was $72.4 million, a decrease of 17% from the three months ended March 31, 2020.
Earnings from operations was $8.2 million, an increase of 126% from the three months ended March 31, 2020.
Net loss attributable to Century Casinos, Inc. shareholders was ($1.4) million, a change of 97% from the three months ended March 31, 2020.
Adjusted EBITDA was $14.7 million, an increase of 53% from the three months ended March 31, 2020.
Revenue by Geographic Location
Forward Guidance
Company looks forward to the reopening of casinos in Poland and Canada and to a busy summer season in North America as the pandemic subsides.
Positive Outlook
- Reopening of casinos in Poland on May 8
- Casinos and racetracks reopening in Canada
- Busy summer season in North America as the pandemic subsides
Challenges Ahead
- COVID-19 pandemic has had an adverse effect on the Company’s 2020 and first quarter 2021 results of operations and financial condition
- The Company expects this situation will continue to have an adverse impact on its results in 2021
- The duration and ultimate impact of the COVID-19 pandemic otherwise remains uncertain
- The Company’s Canada properties are currently closed
- Its Poland casinos closed most recently on March 20, 2021
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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