Century Casinos Announces Q2 2021 Results

Century Casinos has announced its financial results for the three and six months ended 30 June 2021.

Q2 2021 Highlights:

Net operating revenue was $92.2 million, an increase of 155% from the three months ended 30 June 2020.

Earnings from operations was $18.1 million, an increase of 957% from the three months ended 30 June 2020.

Net earnings attributable to Century Casinos shareholders was $6.9 million, a change of 154% from the three months ended 30 June 2020.

Adjusted EBITDA was $25.2 million, an increase of 1532% from the three months ended 30 June 2020.

Basic and diluted earnings per share were $0.23 and $0.22, respectively.

Book value per share at 30 June 2021 was $4.31.

“With all of our properties now open, we continue to show strong results and momentum. In the second quarter, we achieved our highest quarterly Adjusted EBITDA in the Company’s history and a consolidated Adjusted EBITDA margin of 27.4%,” Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos, said.

“We continue to have a strong balance sheet and no substantial debt maturities before 2026,” Haitzmann and Hoetzinger added.

The Company’s net operating revenue increased by $56.1 million, or 155%, and by $40.8 million, or 33%, for the three and six months ended 30 June 2021, compared to the three and six months ended 30 June 2020.

The Company’s earnings (loss) from operations increased by $20.2 million, or 957%, and by $60.2 million, or 178%, for the three and six months ended 30 June 2021, compared to the three and six months ended 30 June 2020.