Century Casinos Inc - CNTY STOCK NEWS

Century Casinos, Inc. (Nasdaq: CNTY) will participate in the Truist Securities Gaming, Lodging, Leisure & Restaurants Summit in Boston on December 8, 2022. Peter Hoetzinger, President & Co-CEO, will present the Company and hold meetings with institutional investors. The presentation will be available on the Company's website on the same date. Century Casinos operates various casinos and entertainment venues across the US and Canada, including properties in Colorado and West Virginia. For more details, visit www.cnty.com.

Century Casinos, Inc. (CNTY) reported Q3 2022 financial results revealing a 4% decline in net operating revenue to $112.6 million and a 74% drop in net earnings to $2.9 million compared to Q3 2021. Adjusted EBITDA decreased 15% to $28.1 million. The company is advancing on its acquisitions, including Rocky Gap Casino Resort for approximately $56.1 million and Nugget Casino Resort with an expected purchase of $100 million. Additionally, Century Casino Caruthersville will transition to a land-based pavilion to enhance operations, following state approval.

Century Casinos, Inc. (Nasdaq: CNTY) is set to release its Q3 2022 earnings on November 4, 2022. The company will host a conference call at 8:00 am MDT to discuss the earnings report. Participants are encouraged to join 15 minutes early, using specified dial-in numbers. Century Casinos operates various casino and hotel properties in the U.S. and Canada, with significant interests in international markets, such as Poland. The company also has ongoing acquisition agreements for notable gaming facilities.

VICI Properties reported a strong third quarter for 2022, achieving total revenues of $751.5 million, a 100% increase year-over-year. Net income rose to $330.9 million or $0.34 per share. The company announced an 8.3% increase in its dividend to $0.39 per share and proceeded to acquire Rocky Gap Casino Resort for $203.9 million. VICI also expanded its partnership with Great Wolf Resorts through $186 million in loans. The updated AFFO guidance for 2022 is projected between $1,682 million and $1,692 million.

Century Casinos (Nasdaq: CNTY) will attend the Wells Fargo 5th Annual Consumer Conference on September 21, 2022, in Dana Point, California. Peter Hoetzinger, President & Co-CEO, will present and hold one-on-one meetings with institutional investors. The presentation will be available on the Company’s website the same day. Century Casinos operates multiple venues across the U.S. and Canada, including casinos in Colorado, Missouri, and West Virginia. The Company also has interests in Polish casinos and racetracks in Canada.

Century Casinos (CNTY) announced that bet365 has launched its internet and mobile sports betting application in Colorado using one of the Company's master licenses. This 10-year agreement includes a minimum annual revenue guarantee and a share of net gaming revenue, with an advance fee paid at contract signing in May 2020. Bet365 is a leading online sports betting company with nearly $4 billion in annual revenues. The partnership aims to enhance Century Casinos' revenue through a stable and lucrative sports betting market.

VICI Properties Inc. has announced a definitive agreement to acquire Rocky Gap Casino Resort from Golden Entertainment for $260 million. The acquisition includes approximately $203.9 million for the property and $56.1 million for operating assets. This transaction will be instantly accretive, increasing annual rent by $15.5 million and extending the Century Master Lease by 15 years. The deal is expected to close mid-2023, pending regulatory approvals.

Golden Entertainment announced the sale of Rocky Gap Casino Resort for a total cash consideration of $260 million. Century Casinos will acquire operations for $56.1 million, while VICI Properties will purchase the land and buildings for $203.9 million. The deal reflects about 10x Adjusted Property EBITDA for the trailing twelve months ended June 30, 2022. Expected to close by mid-2023 pending regulatory approvals, this transaction aims to enhance Golden's focus on core markets and is seen as a strategic move to improve financial flexibility and shareholder value.

Century Casinos announced a definitive agreement to acquire the operations of Rocky Gap Casino Resort for approximately $56 million. The acquisition will be funded using cash from the company's balance sheet. VICI Properties will acquire the real estate assets for about $204 million and amend the lease to include Rocky Gap, with an initial rent of approximately $15.5 million annually. The deal, expected to close mid-2023, is projected to be immediately accretive to earnings, with Rocky Gap reporting a net operating revenue of $78 million and an Adjusted EBITDA of $27 million in 2021.