Business
Century Casinos, Inc. Announces First Quarter 2025 Results
Solid First Quarter Considering Severe Weather Impacts. Remainder of 2025 Looks Promising After Opening of New Land-Based Casino in Missouri and Reopening of
About this update from Century Casinos, Inc.
[{"type":"text","content":"Solid First Quarter Considering Severe Weather Impacts. Remainder of 2025 Looks Promising After Opening of New Land-Based Casino in Missouri and Reopening of the Wroclaw Casino in Poland.\nCOLORADO SPRINGS, Colo., May 12, 2025 /PRNewswire/ -- Century Casinos, Inc. (the \"Company\", \"we\", \"us\", or \"our\") (Nasdaq Capital Market®: CNTY) today announced its financial results for the three months ended March 31, 2025.\n\n \n \n \n \n \n \n\n \nFirst Quarter 2025 Highlights*Compared to the three months ended March 31, 2024:\nNet operating revenue was $130.4 million, a decrease of (4%).Earnings from operations was $7.1 million, a decrease of (14%).Net loss attributable to Century Casinos, Inc. shareholders was ($20.6) million, a change of (52%), and basic net loss per share was ($0.67).Adjusted EBITDAR** was $20.2 million, a decrease of (5%).\"We were able to maintain the Adjusted EBITDAR margin from the first quarter of 2024 despite decreased revenue from weather impacts throughout North America, one fewer operating day compared to 2024 and the loss of high margin sports betting revenue in Colorado. This is due primarily to successful cost cutting strategies at the Nugget, which generated positive Adjusted EBITDAR in what typically is the most challenging quarter for the property. We are also excited by the initial success of the new Caruthersville casino, which opened in November 2024,\" Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos remarked. \"We expect quarterly capital expenditures to decrease for the remainder of 2025 as we spent proportionally more in the first quarter. With overall capital expenditures substantially lower in 2025 due to the completion of our capital projects and properties such as Caruthersville open and operating, we anticipate cash generation and our cash position to improve during the remainder of 2025 and into 2026,\" Messrs. Haitzmann and Hoetzinger concluded.\nUPDATES\nPoland – The Company was awarded a second license in the city of Wroclaw in March 2025. The Company expects to open the casino in the fourth quarter of 2025.\nRESULTS\nThe consolidated results for the three months ended March 31, 2025 and 2024 are as follows:\nFor the three months\nAmounts in thousands, except per share data\nended March 31,\n%\nConsolidated Results:\n2025\n2024\nChange\nNet Oper...