Century Casinos, Inc. Announces Fourth Quarter and Full Year 2022 Results

About this update from Century Casinos, Inc.

[{"type":"text","content":"COLORADO SPRINGS, Colo., March 10, 2023 /PRNewswire/ -- Century Casinos, Inc. (Nasdaq Capital Market®: CNTY) today announced its financial results for the three months and year ended December 31, 2022.\n\n \n \n \n \n \n \n\n \nFourth Quarter 2022 Highlights*Compared to the three months ended December 31, 2021:\nNet operating revenue was $103.8 million, a decrease of (3%).Earnings from operations were $13.8 million, a decrease of (16%).Net loss attributable to Century Casinos, Inc. shareholders was ($4.0) million, a decrease of (202%).Adjusted EBITDA** was $21.7 million, a decrease of (13%).Loss per share was ($0.14).2022 Highlights*Compared to the year ended December 31, 2021:\nNet operating revenue was $430.5 million, an increase of 11%.Earnings from operations were $67.6 million, a decrease of (1%).Net earnings attributable to Century Casinos, Inc. shareholders was $8.0 million, a decrease of (61%).Adjusted EBITDA** was $103.3 million, an increase of 6%.Basic earnings per share was $0.27, a decrease of (61%).Diluted earnings per share was $0.25, a decrease of (62%).Book value per share*** at December 31, 2022 was $4.82.The consolidated results for the three months and years ended December 31, 2022 and 2021 are as follows:\nFor the three months \nFor the year\nAmounts in thousands, except per share data \nended December 31,\nended December 31,\nConsolidated Results:\n2022\n2021\n% Change\n2022\n2021\n% Change\nNet Operating Revenue\n$\n103,754\n$\n107,300\n(3 %)\n$\n430,529\n$\n388,506\n11 %\nEarnings from Operations\n13,757\n16,430\n(16 %)\n67,612\n68,518\n(1 %)\nNet (Loss) Earnings Attributableto Century Casinos, Inc.Shareholders\n$\n(4,042)\n$\n3,960\n(202 %)\n$\n7,976\n$\n20,622\n(61 %)\nAdjusted EBITDA**\n$\n21,666\n$\n24,888\n(13 %)\n$\n103,340\n$\n97,926\n6 %\n(Loss) Earnings Per Share Attributable to Century Casinos, Inc. Shareholders:\nBasic\n$\n(0.14)\n$\n0.13\n(208 %)\n$\n0.27\n$\n0.70\n(61 %)\nDiluted\n$\n(0.14)\n$\n0.13\n(208 %)\n$\n0.25\n$\n0.66\n(62 %)\n \n\"We finished 2022 with record net operating revenue and Adjusted EBITDA despite disruptions and temporary closures at our Caruthersville property due to low water levels in the Mississippi River. In December 2022, we completed the relocation of the Caruthersville casino from the riverboat and barge to the land-based pavilion where we will operate the casino u...

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