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Jun 30, 2020
Century Casinos Q2 2020 Earnings Report
Announced second quarter 2020 results, which were significantly impacted by the COVID-19 pandemic and the acquisition of Acquired Casinos.
Key Takeaways
Century Casinos reported a net operating revenue of $36.1 million, a loss from operations of $2.1 million, and a net loss attributable to shareholders of $12.6 million for the second quarter of 2020. The results were significantly impacted by the COVID-19 pandemic and the acquisition of Mountaineer Casino, Racetrack & Resort, Century Casino Cape Girardeau and Century Casino Caruthersville.
Net operating revenue decreased by 31% compared to Q2 2019, totaling $36.1 million.
Losses from operations amounted to $2.1 million, a decrease of 181% compared to Q2 2019.
Net loss attributable to Century Casinos, Inc. shareholders was $12.6 million, a decrease of 2131% compared to Q2 2019.
Adjusted EBITDA was ($1.8) million, compared to $6.7 million for the three months ended June 30, 2019, a decrease of (126%).
Century Casinos
Century Casinos
Century Casinos Revenue by Geographic Location
Revenue by Geographic Location
United States Revenue
CapyFin.comCanada Revenue
CapyFin.comPoland Revenue
CapyFin.comCorporate and Other Revenue
CapyFin.com Forward Guidance
Preliminary estimated July 2020 net operating revenue is $30.3 million and Adjusted EBITDA is $7.4 million compared to July 2019 net operating revenue of $18.1 million and Adjusted EBITDA of $2.8 million.
Positive Outlook
- Enthusiasm from customers visiting reopened casinos
- Operations have been able to achieve cash positive positions soon after reopening
- Operations have been able to achieve cash positive positions so soon after reopening
- Continue to take social distancing and our customers’ health very seriously
- Continue to explore new ways to further improve customer safety
Revenue & Expenses
Visualization of income flow from segment revenue to net income