Century Casinos, Inc. Announces Fourth Quarter and Full Year 2024 Results

About this update from Century Casinos, Inc.

[{"type":"text","content":"2025 Looks Promising After Opening of New Land-Based Casino in Missouri \nCOLORADO SPRINGS, Colo., March 13, 2025 /PRNewswire/ -- Century Casinos, Inc. (the \"Company\", \"we\", \"us\", or \"our\") (Nasdaq Capital Market®: CNTY) today announced its financial results for the three months and year ended December 31, 2024.\n\n \n \n \n \n \n \n\n \nFourth Quarter 2024 Results*\nCompared to the three months ended December 31, 2023:\nNet operating revenue was $137.8 million, a decrease of (4%).Loss from operations was ($36.2) million, a change of (388%).Net loss attributable to Century Casinos, Inc. shareholders was ($64.9) million, a change of (500%), and basic net loss per share was ($2.11).Adjusted EBITDAR** was $21.1 million, a decrease of (17%).2024 Results*\nCompared to the year ended December 31, 2023:\nNet operating revenue was $575.9 million, an increase of 5%.Earnings from operations were $4.3 million, a decrease of (93%).Net loss attributable to Century Casinos, Inc. shareholders was ($128.2) million, a change of (355%), and basic net loss per share was ($4.19).Adjusted EBITDAR** was $102.7 million, a decrease of (10%).\"The highlight of the fourth quarter 2024 was the successful opening of the new land-based casino and hotel in Caruthersville, Missouri on November 1, 2024,\" Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos remarked. \"We continue to see weak trends from retail and low-end customers, which we believe is due to macro-economics impacting consumer spending in our markets. However, with no construction or renovation disruptions and the opportunity to realize returns from our recent growth capital initiatives, we believe Adjusted EBITDAR and cash flow will improve in 2025 as compared to 2024,\" Messrs. Haitzmann and Hoetzinger concluded.\nUPDATES\nNugget Goodwill Impairment – The Company impaired goodwill at its Nugget Casino Resort (the \"Nugget\") property based on estimated market conditions and performance, resulting in $43.7 million recorded to impairment – goodwill for the three months and year ended December 31, 2024. The impairment negatively impacted (loss) earnings from operations and net loss attributable to Century Casinos, Inc. shareholders for the three months and year ended December 31, 2024.\nRESULTS\nThe consolidated results for the three months and years end...

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