Century Casinos (CNTY) Tops Q1 EPS by 10c, Revenues Beat

Century Casinos (NASDAQ: CNTY) reported Q1 EPS of ($0.05), $0.10 better than the analyst estimate of ($0.15). Revenue for the quarter came in at $72.4 million versus the consensus estimate of $66.63 million.

First Quarter 2021 Highlights*

• Net operating revenue was $72.4 million, a decrease of 17% from the three months ended March 31, 2020.
• Earnings from operations was $8.2 million, an increase of 126% from the three months ended March 31, 2020.
• Net loss attributable to Century Casinos, Inc. shareholders was ($1.4) million, a change of 97% from the three months ended March 31, 2020.
• Adjusted EBITDA** was $14.7 million, an increase of 53% from the three months ended March 31, 2020.
• Loss per share was ($0.05).
• Book value per share*** at March 31, 2021 was $3.99.

"We are pleased with the strong Adjusted EBITDA for the first quarter, driven almost exclusively by our properties in the US because our properties in Canada were closed for the entire quarter and our casinos in Poland were closed for most of the quarter. We estimate the negative impact of these closures to Adjusted EBITDA was at least $6.7 million," Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos remarked. "For the third quarter in a row, we have been able to achieve high operating margins and we believe that will continue to be attainable. We look forward to the reopening of our casinos in Poland on May 8, our casinos and racetracks reopening in Canada and to a busy summer season in North America as the pandemic subsides," Messrs. Haitzmann and Hoetzinger concluded.

For earnings history and earnings-related data on Century Casinos (CNTY) click here.

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