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Dec 31, 2019
Century Casinos Q4 2019 Earnings Report
Century Casinos' Q4 2019 results were announced, revealing a 49% increase in net operating revenue but a significant decrease in earnings from operations and net loss attributable to shareholders.
Key Takeaways
Century Casinos reported a 49% increase in net operating revenue for Q4 2019, driven by the acquisition of three casinos from Eldorado Resorts. However, the company experienced a significant decrease in earnings from operations and a net loss attributable to shareholders, mainly due to an impairment loss at Century Casino Bath.
Net operating revenue increased by 49% to $67.2 million.
Loss from operations decreased by 846% to ($14.7) million.
Net loss attributable to shareholders decreased by 4080% to ($20.1) million.
Adjusted EBITDA increased by 69% to $9.8 million.
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
The Company is carefully monitoring the situation caused by the coronavirus (COVID-19) pandemic. Although the entire situation is unpredictable, our management teams are prepared to control what they can control.
Positive Outlook
- Casinos are following and implementing the recommendations from the US Centers for Disease Control and Prevention.
- Putting an extra effort into straight-forward and realistic guest messaging.
- Stepped-up employee trainings to ensure strict compliance with our policies and procedures.
- In constant communication with our employees to reinforce our sanitation safety procedures in both guest-facing and back-of-house areas.
- Sanitizing high-traffic public areas at an increased frequency.
Challenges Ahead
- The entire situation is unpredictable.
- The market in Poland has been weakening by approximately ten percent.
- COVID-19 has not had a significant impact on our US or Canadian markets, while the market in Poland has been weakening by approximately ten percent.
- This situation continues to evolve and could adversely impact us until the virus runs its course.
- Our casinos have negligible meeting and convention business and few of our customers travel by air to visit us.
Revenue & Expenses
Visualization of income flow from segment revenue to net income