The leading casino entertainment company, Century Casinos, Inc., released its newest financial report, highlighting strong results during the first quarter of the year despite severe weather impacts.
Century Casinos' US-based operations post the lion's share of net operating revenue
The newly released unaudited report reveals details regarding the company's performance for the three months ended March 31, 2025.
During the latest trading period, net operating revenues reported by Century Casinos halted at $130.4m.
A year-over-year comparison to the corresponding period in 2024 reveals that the revenue in Q1 this year decreased slightly by 4%.
A breakdown of the $130.4m in net operating revenue points to slight decreases in Poland and the United States, as well as a notable dip in Canada.
While in Canada, the company reported $16.5m in net operating revenue, down by 10% year-over-year, in Poland, the company's revenue decreased only by 5% to $20.6m.
On the other hand, the US market reported the lion's share of the net operating revenue, or $93.3m, and recorded a slight decrease of only 3% year over year.
Other noteworthy figures include Century Casinos' earnings from operations.
In Q1 2025, the company posted $7.1m earnings from operations, a result that signaled a 14% year-over-year decrease.
Not unexpectedly, adjusted EBITDAR dipped too, halting at $20.2m or down by 5% year-over-year.
The company celebrates the early success of its new casino in Missouri, plans growth overseas
Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos, commented on the newly released financial report, Casino Guru News learned from a press release.
"We were able to maintain the Adjusted EBITDAR margin from the first quarter of 2024 despite decreased revenue from weather impacts throughout North America, one fewer operating day compared to 2024 and the loss of high margin sports betting revenue in Colorado," the duo revealed.
The latest results follow what were described by the executives as "successful cost-cutting strategies" that were executed at the Nugget.
As a result, the property generated positive adjusted EBITDAR, despite the quarter being a challenging period.
Haitzmann and Hoetzinger acknowledged the importance of the initial success Century Casinos recorded with the opening of its new Caruthersville casino in Missouri.
The aforementioned casino welcomed its first guests in November 2024.
"We expect quarterly capital expenditures to decrease for the remainder of 2025 as we spent proportionally more in the first quarter," the duo added.
Finally, Haitzmann and Hoetzinger pointed out: "With overall capital expenditures substantially lower in 2025 due to the completion of our capital projects and properties such as Caruthersville open and operating, we anticipate cash generation and our cash position to improve during the remainder of 2025 and into 2026."
Besides the opening of its casino in Missouri late in 2024, Century Casinos recently secured a new license.
In March this year, the company obtained a second license in the city of Wroclaw, Poland. There, Century Casinos plans to open its new casino at some point during the fourth quarter of this year.
