Business
Century Casinos, Inc. Announces Fourth Quarter and Full Year 2021 Results
COLORADO SPRINGS, Colo., March 8, 2022 /PRNewswire/ -- Century Casinos, Inc. (Nasdaq Capital Market®: CNTY) today announced its financial results for the
About this update from Century Casinos, Inc.
[{"type":"text","content":"COLORADO SPRINGS, Colo., March 8, 2022 /PRNewswire/ -- Century Casinos, Inc. (Nasdaq Capital Market®: CNTY) today announced its financial results for the three months and year ended December 31, 2021. \n\n \n \n \n \n \n \n\n \nFourth Quarter 2021 Highlights*\nNet operating revenue was $107.3 million, an increase of 27% from the three months ended December 31, 2020. Earnings from operations was $16.4 million, a decrease of 12% from the three months ended December 31, 2020. Net earnings attributable to Century Casinos, Inc. shareholders was $4.0 million, a decrease of 41% from the three months ended December 31, 2020. Adjusted EBITDA** was $24.9 million, an increase of 36% from the three months ended December 31, 2020. Basic and diluted earnings per share were $0.13.2021 Highlights*\nNet operating revenue was $388.5 million, an increase of 28% from the year ended December 31, 2020. Earnings from operations were $68.5 million, a change of 54051% from the year ended December 31, 2020. Net earnings attributable to Century Casinos, Inc. shareholders was $20.6 million, a change of 143% from the year ended December 31, 2020. Adjusted EBITDA** was $97.9 million, an increase of 102% from the year ended December 31, 2020. Basic earnings per share was $0.70, a change of 143% from the year ended December 31, 2020. Diluted earnings per share was $0.66, a change of 141% from the year ended December 31, 2020. Book value per share*** at December 31, 2021 was $4.78. COVID-19 UpdateThe COVID-19 pandemic had an adverse effect on the Company's 2020 results of operations and financial condition, and negatively impacted the Company's results of operations to a lesser extent in 2021 because the Company's United States properties were open and operating during this period. \nThe Company's Canada properties reopened on June 10, 2021, and its Poland casinos reopened on May 28, 2021. The Company's casinos in the United States have been open since June 2020. The Company's properties have varied their operations based on the governmental health and safety requirements in the jurisdictions in which they are located. The Company's operations currently have limited health and safety requirements related to COVID-19. The duration and ultimate impact of the COVID-19 pandemic otherwise remains uncertain.\nThe consolidated results for the three months and year end...