Welcome to our dedicated page for Century Casinos news (Ticker: CNTY), a resource for investors and traders seeking the latest updates and insights on Century Casinos stock.
Century Casinos, Inc. (NASDAQ: CNTY) operates gaming and hospitality venues across three continents, offering investors and industry observers a dynamic growth story. This news hub provides centralized access to all corporate developments, from earnings reports to strategic expansions.
Track critical updates including quarterly financial results, property openings like the Caruthersville land-based casino, and regulatory developments affecting operations in Poland and North America. The curated collection also covers partnership announcements with real estate financiers and hospitality providers.
Designed for efficient research, this resource helps stakeholders monitor operational milestones like gaming license renewals and capacity expansions. Bookmark this page for direct access to Century Casinos' official communications and third-party analyses of market positioning.
Century Casinos (CNTY) reported its Q4 and full-year 2024 financial results, highlighting significant challenges. Q4 net operating revenue decreased 4% to $137.8 million, with a net loss of $64.9 million. The full-year 2024 showed mixed results with a 5% revenue increase to $575.9 million, but a substantial net loss of $128.2 million.
A major setback was the $43.7 million goodwill impairment at the Nugget Casino Resort due to market conditions and performance issues. The company's Adjusted EBITDAR declined 17% in Q4 and 10% for the full year. Cash position weakened to $98.8 million from $171.3 million year-over-year.
Despite challenges, management highlighted the successful opening of a new land-based casino and hotel in Caruthersville, Missouri on November 1, 2024. While noting weak trends from retail and low-end customers due to macroeconomic pressures, executives expressed optimism for improved EBITDAR and cash flow in 2025.
Century Casinos (CNTY) has scheduled its fourth quarter and year-end 2024 earnings release and conference call for Thursday, March 13, 2025. The earnings conference call will begin at 8:00 am MDT (10:00 am EDT).
Participants can join the call by dialing 1-888-999-5318 for US domestic and Canadian callers, or +1 848-280-6460 for international participants, using the conference ID 'Casinos'. The call will be available for live streaming at https://app.webinar.net/8L4ERZvR0xq, and a recording will be accessible on the company's investor relations website.
Century Casinos reported Q3 2024 financial results with net operating revenue of $155.7 million, down 3% year-over-year. The company posted earnings from operations of $17.9 million, up 24%, while net loss attributable to shareholders improved to ($8.1) million, a 43% decrease. Adjusted EBITDAR was $32.9 million, down 1%. Key developments include opening a new land-based casino in Caruthersville, Missouri with 599 slot machines and nine table games, and reopening the Wroclaw casino in Poland. The company maintained $118.8 million in cash and $339.6 million in outstanding debt as of September 30, 2024.
Century Casinos has opened its new land-based casino and hotel in Caruthersville, Missouri. The 26,000 square feet facility features 599 slot machines and nine live tables, representing a 50% increase in gaming positions compared to the temporary location. The development includes a restaurant, bar, and 74 hotel rooms, with a total development cost of $51.9 million funded through VICI Properties. The project transforms the last remaining riverboat casino on the Mississippi River into a full destination resort, aiming to attract customers from Missouri, Tennessee, and Arkansas.
Century Casinos (CNTY) has announced its upcoming third quarter 2024 earnings release and conference call schedule. The company will release its Q3 2024 earnings on Monday, November 4, 2024, followed by an earnings conference call at 8:00 am MST (10:00 am EST) on the same day. Participants should dial in 15 minutes early using 1-888-999-5318 for US and Canadian callers, or +1 848-280-6460 for international participants, with conference ID 'Casinos'. The call can be accessed live at the provided webinar link or recorded version at the company's website.
Century Casinos announced the opening of its new land-based Century Casino & Hotel Caruthersville in Missouri on November 1, 2024, following Missouri Gaming Commission's approval. The new facility represents a significant expansion with 599 slot machines and nine live table games, marking a 50% increase in gaming positions. The hotel capacity will double to 74 rooms. The $51.9 million project, funded by VICI Properties, was completed on time and on budget since construction began in December 2022. The property will be part of a triple net master lease agreement with VICI, increasing annual rent by $4.2 million.
Century Casinos (NASDAQ: CNTY) reported its Q2 2024 financial results, revealing a mixed performance. Net operating revenue increased by 7% to $146.4 million compared to Q2 2023, driven by gains in the U.S. and Canada. However, earnings from operations declined by 23% to $14.3 million, and there was a net loss of $41.6 million, translating to a basic loss per share of $1.36.
Adjusted EBITDAR decreased by 6% to $27.4 million. The company cited a valuation allowance on U.S. deferred tax assets, underperformance at the Nugget Casino Resort, and temporary closures in Poland as key challenges. Despite these setbacks, Century Casinos maintains a positive outlook, with significant capital projects nearing completion, including a new casino in Caruthersville, Missouri, and renovations in Poland.
As of June 30, 2024, the company had $123.2 million in cash and $341.6 million in outstanding debt. The company’s capital expenditures for the remainder of 2024 and 2025 are projected at $12.6 million and $12.0 million, respectively.
Century Casinos (NASDAQ: CNTY) has announced the dates for its Q2 2024 earnings release and conference call. The company will release its second quarter 2024 earnings on Thursday, August 8, 2024. On the same day, Century Casinos will host its Q2 2024 Earnings Conference Call at 8:00 am MDT (10:00 am EDT).
Participants are advised to dial in 15 minutes before the call. US domestic and Canadian participants should dial 1-800-343-4136, while all other international participants should use +1 203-518-9843. The conference ID is 'Casinos'. Investors can listen to the call live at the provided link or obtain a recording of the call on the company's website.
Century Casinos (NASDAQ: CNTY) has appointed Eric Rose as Senior Vice President and General Manager of the Nugget Casino Resort in Sparks, Nevada. Rose, a 32-year veteran in gaming and hospitality, succeeds the previous general manager who has left the company. This appointment comes after a challenging first half of the year at the Nugget with lower-than-expected revenue.
The Nugget has undergone right-sizing and cost-cutting initiatives, along with property upgrades including new slot machines, a high-limit room, restaurant refreshes, and exterior improvements. Century Casinos' Co-CEOs believe these changes, combined with Rose's leadership, will set the Nugget up for future success.
Century Casinos (NASDAQ: CNTY) announced its participation in Stifel's 2024 Cross Sector Insight Conference in Boston, Massachusetts, on June 4-5, 2024.
Peter Hoetzinger, President & Co-CEO, will present the company and conduct one-on-one meetings with selected institutional investors.
The presentation used for these meetings is available on the company's website.
