Finance

US acquisitions drive Century Casinos to record growth in Q3

2 minutes read
Century Casinos has credited increases in revenue and profit for the third quarter to the impact of its acquisition of US casino properties from Eldorado Resorts.

Net operating revenue for the three months to September 30 reached $95.7m, up 80.7% from $52.9m in the corresponding period last year and a quarterly record for the operator.

Century said this growth was a result of its enlarged operation in the US, where revenue rocketed by 580.4% from $9.2m in Q3 of 2019 to $62.6m this year.

Since Q3 of last year, Century has added a number of new casinos to its portfolio, including the Isle Casino Cape Girardeau, Lady Luck Caruthersville and the Mountaineer Casino, Racetrack and Resort from the former Eldorado, prior to the operator completing its merger with Caesars Entertainment.

Century now operates five land-based casinos across Colorado, Missouri and West Virginia, all of which are now open again – albeit it with restrictions in place – after a period of closure from mid-March to early June due to the novel coronavirus (Covid-19) pandemic.

However, despite growth in the US, Century suffered elsewhere, with revenue in Canada falling 24.9% to $16.6m and Polish revenue 20.1% to $16.3m. Corporate and other revenue was also down 89.1% to $143,000.

Aside from revenue, Century also saw its adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) reach a record $22.2m in Q3, up by 212.7% on the previous year.

Read the full story on iGB North America.

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