Century Casinos Q3 2024 Earnings Report
Key Takeaways
Century Casinos reported a 3% decrease in net operating revenue, totaling $155.7 million. However, earnings from operations increased by 24% to $17.9 million. The company experienced a net loss attributable to shareholders of $8.1 million, although this represents a 43% decrease in net loss compared to the previous year.
Net operating revenue decreased by 3% to $155.7 million.
Earnings from operations increased by 24% to $17.9 million.
Net loss attributable to Century Casinos shareholders decreased by 43% to $8.1 million.
Adjusted EBITDAR decreased by 1% to $32.9 million.
Century Casinos
Century Casinos
Century Casinos Revenue by Segment
Century Casinos Revenue by Geographic Location
Forward Guidance
The company anticipates a promising 2025 following the recent opening of a new land-based casino in Missouri and the reopening of the Wroclaw casino in Poland.
Positive Outlook
- New land-based casino and hotel opened in Caruthersville, Missouri on November 1, 2024.
- The new Caruthersville casino has 599 slot machines and nine live table games.
- The number of hotel rooms in Caruthersville doubled to 74.
- Wroclaw casino in Poland reopened on October 24, 2024.
- The Caruthersville project was funded through VICI Properties Inc.
Challenges Ahead
- The Company was notified in October 2024 that it had not received new licenses for its Krakow casino.
- The Company was notified in October 2024 that it had not received new licenses for its LIM Center casino in Warsaw.
- Net operating revenue decreased by 3%.
- Net loss attributable to Century Casinos shareholders was ($8.1) million.
- Adjusted EBITDAR decreased by (1%).
Revenue & Expenses
Visualization of income flow from segment revenue to net income