Strong Performance in Caruthersville
The new Caruthersville property generated $5.8 million more net revenue and almost $3 million more in EBITDAR in the first six months of operation. Visitor numbers increased by 23%, with revenue and EBITDAR up 25% and 31%, respectively.
Positive Trends in Missouri Properties
Caruthersville and Cape Girardeau both showed increased visitation. Caruthersville's gaming revenue was up 17%, and Cape Girardeau saw a 5% increase in patrons.
Nugget Casino Resort Turnaround
The Nugget Casino Resort in Sparks, Reno, Nevada, turned around from a negative EBITDAR last year to a positive $700,000 this quarter, marking the second significant increase in a row.
Improved March and April EBITDAR
March EBITDAR was up 8% year-over-year, and initial estimates show an increase in April EBITDAR of 5% over last year.
Plans for Stock Repurchase
The company plans to buy back stock in the coming weeks due to the dislocated share price of CNTY, with an initial single-digit million dollar volume before the next earnings release.