Century Casinos reports revenue increase “despite major restrictions” in 2021

$283.3m of the revenue total came from the United States, which was an increase of 42.9% from 2020. $46.4m came from Canada, while $58.2m came from Poland.

Operating expenses for the year came to $320.0m, up from $304.4m in 2020. This left operating profit of $68.5m, a massive 54,051.2% increase on the year prior.

With non-operating expenses of $40.4m and $6.4m of income tax, net profit for the year amounted to $21.8m, compared to $48.1m losses suffered in 2020.

Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) came to $97.9m, up from $48.4m in 2020.

In terms of the fourth quarter of 2021, operating revenue for the company totaled $107.3m, up 27.0% from the corresponding period in 2020.

Operating expenses for the quarter were $90.0m, increasing from $66.1m in 2020. Net profit for the period was $5.0m, down from $6.8m the year before.

After the end of the period, Century Casinos acquired the operations of the Nugget Casino Resort in Nevada, in addition to a 50% stake in Smooth Bourbon LLC, which owns the property.

Erwin Haitzmann and Peter Hoetzinger, co-chief executive officers of Century Casinos said: “We would like to thank our team members for the enthusiasm and flexibility they have shown this year as we navigated operational restrictions and continuing changes brought about by COVID-19. Despite major restrictions at our Canada properties throughout the fourth quarter, we finished the year with strong results.

“We look forward to 2022 and seeing the increased potential of our properties as most COVID-19 restrictions have now been lifted. We are also excited about our upcoming acquisition of the Nugget Casino Resort in Reno-Sparks, Nevada and the continued expansion of our US portfolio.”