{"id":21606,"date":"2024-05-09T14:56:18","date_gmt":"2024-05-09T14:56:18","guid":{"rendered":"https:\/\/instantcasinos.com\/?p=21606"},"modified":"2024-05-10T15:09:32","modified_gmt":"2024-05-10T15:09:32","slug":"century-casinos-25-increase-in-revenue-reported-for-q1-2024","status":"publish","type":"post","link":"https:\/\/instantcasinos.com\/blog\/century-casinos-25-per-cent-increase-in-revenue-reported-for-q1-2024\/","title":{"rendered":"Century Casinos: 25% Increase In Revenue Reported For Q1 2024"},"content":{"rendered":"

Century Casinos has announced a 25% year-on-year increase in revenues for the first quarter of 2024. According to its financial reports, operating revenue was $136Million.\u00a0<\/strong><\/p>\n

However, operational earnings fell 55% to $8.3m and net loss attributable to Century Casinos shareholders jumped 990% to $13.5m.<\/p>\n

In terms of net loss, that grew 485% to $11.7m and adjusted EBITDAR decreased by 18% to $21.3m. The net loss per share increased to $0.45.<\/p>\n

Century Casinos Revenue<\/h2>\n

Erwin Haitzmann and Peter Hoetzinger, the co-CEO’s said on Century Casinos revenue: “We anticipated a challenging first quarter due to continuing construction disruptions and the closure of three of our casinos in Poland for some or all of the quarter.<\/p>\n

\u201cThe quarter was further impacted by disruptions from severe weather at the majority of our US casinos. Cash payments of $12.2m for taxes related to the September 2023 sale and leaseback of our Canada properties and a $3.4m one-time principal paydown of debt as well as $18.4m in property and equipment purchases decreased our overall cash balance,\u201d they added.<\/p>\n

With individual jurisdictions in mind, the revenue from US operations grew 45% to $96m. Furthermore, the Canadian operations increased by 11% to $18.3m.<\/p>\n

Naturally, the closure of their Polish venues saw a decrease of 15% to $21.6m. There was a 77% fall of Cooperate and Other to $13,000.<\/p>\n

In terms of earnings, they avoided the above trend. Loss from the US changed 41% to $8.5m, Poland fell 101% to $22,000 and Corporate and Other by 67%, equating to $4.2m.<\/p>\n

Haitzmann and Hoetzinger went on to say: “Our positive outlook for the second half of 2024 into 2025 remains unchanged. Our increased spend on capital projects throughout our properties is expected to end over the summer.”<\/p>\n

Check out Instant Withdrawal Casinos<\/a> for the best online gaming experience.<\/p>\n","protected":false},"excerpt":{"rendered":"

Century Casinos has announced a 25% year-on-year increase in revenues for the first quarter of 2024. According to its financial reports, operating revenue was $136Million.\u00a0 However, operational earnings fell 55% to $8.3m and net loss attributable to Century Casinos shareholders jumped 990% to $13.5m. In terms of net loss, that grew 485% to $11.7m and … <\/p>\n","protected":false},"author":61,"featured_media":21644,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[10],"tags":[],"class_list":["post-21606","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"acf":[],"yoast_head":"\nCentury Casinos Revenue: 25% Increase Reported For Q1 2024<\/title>\n<meta name=\"description\" content=\"Century Casinos revenue has increased by 25% for the first quarter of 2024, according to their published finacial reports.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/instantcasinos.com\/blog\/century-casinos-25-per-cent-increase-in-revenue-reported-for-q1-2024\/\" \/>\n<meta property=\"og:locale\" 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