Century Casinos ( (CNTY) ) has released its Q1 earnings. Here is a breakdown of the information Century Casinos presented to its investors.
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Century Casinos, Inc. is a casino entertainment company operating in the United States, Canada, and Poland, known for its diverse portfolio of gaming and entertainment properties.
In its first quarter of 2025, Century Casinos reported a challenging financial performance, impacted by severe weather conditions and the loss of high-margin sports betting revenue in Colorado. Despite these setbacks, the company opened a new land-based casino in Missouri and reopened a casino in Poland, which are expected to boost future revenues.
Key financial metrics for the quarter showed a 4% decrease in net operating revenue to $130.4 million and a 14% decline in earnings from operations to $7.1 million. The net loss attributable to shareholders widened by 52% to $20.6 million, while Adjusted EBITDAR decreased by 5% to $20.2 million. The company highlighted successful cost-cutting strategies at its Nugget property, which helped maintain its Adjusted EBITDAR margin.
Looking ahead, Century Casinos is optimistic about its financial prospects, anticipating improved cash generation and a stronger cash position for the remainder of 2025 and into 2026. The completion of capital projects and the operational status of new properties are expected to contribute positively to the company’s financial health.