Century Casinos, Inc. Announces Record Third Quarter Results Driven by Acquired US Casinos

About this update from Century Casinos, Inc.

[{"type":"text","content":"COLORADO SPRINGS, Colo., Nov. 6, 2020 /PRNewswire/ -- Century Casinos, Inc. (Nasdaq Capital Market®: CNTY) today announced its financial results for the three and nine months ended September 30, 2020. \n\n \n \n \n \n \n \n\n \nThird Quarter 2020 Highlights*\nNet operating revenue was $95.7 million, compared to $52.9 million for the three months ended September 30, 2019, an increase of 81%. Earnings from operations were $15.0 million, compared to $3.5 million for the three months ended September 30, 2019, an increase of 331%. Net earnings attributable to Century Casinos, Inc. shareholders were $3.7 million, compared to $0.5 million for the three months ended September 30, 2019, an increase of 678%. Adjusted EBITDA** was $22.2 million, compared to $7.1 million for the three months ended September 30, 2019, an increase of 213%. Earnings per share were $0.13. Book value per share*** at September 30, 2020 was $3.55.The Company's third quarter 2020 results were significantly impacted by the acquisition of Mountaineer Casino, Racetrack & Resort, Century Casino Cape Girardeau and Century Casino Caruthersville (the \"Acquired Casinos\") in December 2019. \nCOVID-19 Update\nIn late 2019, an outbreak of COVID-19 was identified in China and has since spread throughout much of the world. Between March 13, 2020 and March 17, 2020, the Company closed all of its casinos, hotels and other facilities to comply with quarantines issued by governments to contain the spread of COVID-19. The Company's Polish locations reopened on May 18, 2020 and its North American operations reopened between June 1, 2020 and June 17, 2020.\nAlthough the Company's results of operations and cash flow improved significantly in the third quarter of 2020, the COVID-19 pandemic has had an adverse effect on the Company's results of operations and financial condition for the nine months ended September 30, 2020, and the Company expects this situation will continue to have an adverse impact on its results for the remainder of 2020 and perhaps into 2021. The duration and ultimate impact of the COVID-19 pandemic otherwise remains uncertain. \nThe Company's casinos have varied their operations based on the governmental health and safety requirements in the jurisdictions in which they are located. In Colorado, each city has different gaming floor restrictions. In Cripple Creek, ...

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