Loading...
•
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%).
Revenue by Geographic Location
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...