Century Casinos, an international casino entertainment company, has announced its financial results for the first quarter of 2019. Net operating revenue is $45.6m, an increase of 12% from the three months ended March 31, 2018. Earnings from operations were $3.4m, an increase of 6% from 2018.
Net earnings attributable to shareholders were $1.1m, an increase of 15%. Adjusted EBITDA was $6.7m, an increase of 2%. Basic and diluted earnings per share were $0.04, an increase of 33%.
“We are pleased with the 12 per cent net operating revenue growth this quarter, with all reportable segments contributing to the increased results,” Co-CEOs Erwin Haitzmann and Peter Hoetzinger said.
“Adjusted EBITDA growth was impacted by $0.7m of additional non-recurring expenses related to the opening of our newest property, Century Mile Racetrack and Casino. Century Mile began operating the northern Alberta pari-mutuel network at the beginning of the year, contributing to the $1.6m revenue growth in the Canada reportable segment. We had a successful grand opening at Century Mile in April and are excited for the success this property has had in its first month of operation,” they added.