Century Casinos, Inc. CNTY reported fourth-quarter earnings per share of $(0.36) loss, in line with the Wall Street view. Quarterly revenues of $143.76 million beat the analyst consensus of $142.309 million. Revenues jumped 39% year over year.
Earnings from operations were $12.6 million in the quarter under review, a decrease of 9% year over year.
“Unanticipated licensing delays that resulted in closures of three of our casinos in Poland in the fourth quarter caused earnings from operations in Poland to decrease compared to 2022,” Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos remarked.
Fourth quarter Adjusted EBITDAR was $25.4 million, an increase of 17%.
As of December 31, 2023, the company had $171.3 million in cash and cash equivalents, with $346.8 million in outstanding debt.
“We are excited to look forward to 2025, when our newly acquired casinos are fully integrated into the company and to what we anticipate will be our first year since 2022 with no significant construction or renovation disruptions at our properties,” Haitzmann and Hoetzinger concluded.
Price Action: CNTY shares are trading higher by 0.32% to $3.09 on the last check Thursday.
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