{"id":204,"date":"2024-06-18T02:11:39","date_gmt":"2024-06-17T23:11:39","guid":{"rendered":"https:\/\/slotscapital.icu\/2024\/06\/18\/century-casinos-posts-record-revenue-despite-q3-earnings-dip\/"},"modified":"2024-06-20T16:58:29","modified_gmt":"2024-06-20T13:58:29","slug":"century-casinos-posts-record-revenue-despite-q3-earnings-dip","status":"publish","type":"post","link":"https:\/\/slotscapital.icu\/2024\/06\/18\/century-casinos-posts-record-revenue-despite-q3-earnings-dip\/","title":{"rendered":"Century Casinos Posts Record Revenue Despite Q3 Earnings Dip"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/o5jh4h7yvqo\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Century Casinos experienced a robust third quarter in 2023, as evidenced by a 43% year-on-year surge in net operating income.  Despite this, the firm witnessed a decrease in both operating earnings and net profits for the quarter. This outcome was attributed to numerous property purchases and divestments that Century Casinos concluded during the third quarter.<\/p>\n<p>The corporation, managing casinos across the United States and Canada, declared net operating income of $161.2 million for the quarter concluding September 30, 2023, marking a 43% rise from the corresponding period the previous year.<\/p>\n<p>Operating earnings faced a setback, contracting by 28% to $14.5 million. The decline was most notable in areas outside the United States.  Within the US, operating earnings actually expanded by 21% to $19.8 million.  Conversely, Canada experienced a 47% plunge to $2.1 million, and Poland witnessed a 52% decrease to $1.3 million.<\/p>\n<p>This is potentially connected to the divestiture of Century&#8217;s Canadian holdings, encompassing four casinos, to a subsidiary of Vici Properties. The transaction was finalized on September 6, 2023, for an aggregate purchase value of C$221.7 million (equivalent to US$162.6 million at the time).<\/p>\n<p>Century Casinos announced a net loss assignable to the company&#8217;s stakeholders of $14.2 million, representing a 582% year-on-year reduction, or $0.47 per basic share.<\/p>\n<p>On an encouraging note, adjusted EBITDA exhibited a 19% growth, reaching $33.3 million. <\/p>\n<p>Century Casinos&#8217; co-chief executives, Erwin Haitzmann and Peter Hoetzinger, released a joint declaration: \u201cAfter our purchase of the Nugget Casino Resort and Rocky Gap Casino Resort, including its golf course, we attained unprecedented net operating revenue and adjusted EBITDA.<br \/>\n\u201cWithin the quarter, singular expenses associated with the Rocky Gap purchase and the Canadian sale-leaseback agreement negatively affected our operating income and net profits.<br \/>\n\u201cAs we look forward, we anticipate revenue and operating cost patterns to align with those of recent quarters.\u201d <\/p>\n<p>It&#8217;s noteworthy that the firm also finalized the $59.1 million purchase of the Rocky Gap Casino Resort situated in Maryland. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Century Casinos experienced a robust third quarter in 2023, as evidenced by a 43% year-on-year surge in net operating income. Despite this, the firm witnessed a decrease in both operating earnings and net profits for the quarter. This outcome was attributed to numerous property purchases and divestments that Century Casinos concluded during the third quarter. [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Century Casinos Q3 2023: Soaring Revenue Amidst Acquisitions<\/title>\n<meta name=\"description\" content=\"Century Casinos reports a 43% surge in net operating income for Q3 2023, hitting $161.2 million. Discover how property acquisitions and divestments impacted operating earnings and net profits.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/slotscapital.icu\/2024\/06\/18\/century-casinos-posts-record-revenue-despite-q3-earnings-dip\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Century Casinos Posts Record Revenue Despite Q3 Earnings Dip\" \/>\n<meta property=\"og:description\" content=\"Century Casinos reports a 43% surge in net operating income for Q3 2023, hitting $161.2 million. 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