Century Casinos, Inc. Declares Fourth Quarter and Full Year 2021 Results
PR Newswire
COLORADO SPRINGS, Colo.
COLORADO SPRINGS, Colo. Century Casinos, Inc.
(Nasdaq Capital Market®: CNTY) today declared its monetary outcomes for the
90 days and year finished December 31, 2021. 온라인카지노
Century Casinos Logo (PRNewsfoto/Century Casinos, Inc.)
Final Quarter 2021 Highlights*
o Net working income was $107.3 million, an increment of 27% from the
90 days finished December 31, 2020.
o Earnings from tasks was $16.4 million, a decline of 12% from the
90 days finished December 31, 2020.
o Net income inferable from Century Casinos, Inc. investors was $4.0
million, a reduction of 41% from the three months finished December 31, 2020.
o Adjusted EBITDA** was $24.9 million, an increment of 36% from the three
months finished December 31, 2020.
o Basic and weakened income per share were $0.13.
2021 Highlights*
o Net working income was $388.5 million, an increment of 28% from the year
finished December 31, 2020.
o Earnings from tasks were $68.5 million, a difference in 54051% from the
year finished December 31, 2020.
o Net profit inferable from Century Casinos, Inc. investors was $20.6
million, a difference in 143% from the year finished December 31, 2020.
o Adjusted EBITDA** was $97.9 million, an expansion of 102% from the year
finished December 31, 2020.
o Basic profit per share was $0.70, a difference in 143% from the year finished
December 31, 2020.
o Diluted income per share was $0.66, a difference in 141% from the year finished
December 31, 2020.
o Book esteem per share*** at December 31, 2021 was $4.78. 카지노사이트 주소
Coronavirus Update
The COVID-19 pandemic adversely affected the Company's 2020 aftereffects of
tasks and monetary condition, and adversely affected the Company's
consequences of activities less significantly in 2021 in light of the fact that the Company's United
States properties were open and working during this period.
The Company's Canada properties resumed on June 10, 2021, and its Poland
club returned on May 28, 2021. The Company's club in the United States
have been open since June 2020. The Company's properties have differed their
activities in view of the administrative wellbeing and security prerequisites in the
wards in which they are found. The Company's tasks as of now
have restricted wellbeing and security prerequisites connected with COVID-19. The span
what's more, extreme effect of the COVID-19 pandemic in any case stays unsure.
The solidified outcomes for the three months and year finished December 31, 2021
furthermore, 2020 are as per the following:
For the three months For the year
Sums in
thousands, aside from finished December 31, finished December 31,
per share information
United 2021 2020 % 2021 2020 %
Results: Change
Net Operating $ 107,300 $ 84,801 27% $ 388,506 $ 304,268 28%
Income
Income (Loss) 16,430 18,747 (12%) 68,518 (127) 54051%
from Operations
Net Earnings
(Misfortune)
Owing to $ 3,960 $ 6,713 (41%) $ 20,622 $ (48,002) 143%
Century Casinos,
Inc. Investors
Changed EBITDA** $ 24,888 $ 18,306 36% $ 97,926 $ 48,398 102%
Income (Loss) Per Share Attributable to Century Casinos, Inc. Investors:
Fundamental $ 0.13 $ 0.23 (44%) $ 0.70 $ (1.62) 143%
Weakened $ 0.13 $ 0.22 (43%) $ 0.66 $ (1.62) 141%
The Company intends to migrate its Century Casino Caruthersville gambling club,
as of now the final riverboat on vast water in Missouri, to a
land-based club with a connected inn, assessed to open in mid 2024, and
to fabricate a lodging that will join onto Century Casino Cape Girardeau,
assessed to open in late 2023. The Company gauges project expenses of $73.0
million. In December 2021, a claim was recorded by the City of St. Louis to
block the execution of the omnibus bill that incorporated the change to
the meaning of a drifting office. The land-based gambling club project is
deferred forthcoming a goal of the claim or an independent bill changing the
meaning of a drifting office. The Company intends to fund the expense of
these ventures with cash close by, financing, or a mix of the two.
On February 22, 2022, the Company went into an authoritative consent to
gain half of Smooth Bourbon, LLC ("PropCo") and 100 percent of Nugget Sparks, LLC
dba Nugget Casino Resort from Marnell Gaming, LLC for $195 million and to
gain a five-year choice to buy the excess half of PropCo for $105
million or more 2% per annum. The Company has gotten a responsibility letter from
Goldman Sachs Bank USA for (I) $350 million in senior got term credit
financing to help the Nugget Casino Resort procurement, renegotiate the
Organization's current obligation and for general corporate purposes, and (ii) a $30
million senior got rotating credit office.
"We might want to thank our colleagues for the energy and adaptability
they have shown for the current year as we explored functional limitations and
proceeding with changes achieved by COVID-19. Regardless of significant limitations at
our Canada properties all through the final quarter, we completed the year with
solid outcomes," Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive
Officials of Century Casinos commented. "We anticipate 2022 and seeing the
expanded capability of our properties as most COVID-19 limitations have now
been lifted. We are additionally amped up for our impending procurement of the Nugget
Club Resort in Reno-Sparks, Nevada and the proceeded with development of our US
portfolio," Messrs. Haitzmann and Hoetzinger finished up.
Reportable Segment Results*
The table underneath shows the Company's detailing units and working portions
that are remembered for every one of the Company's reportable sections as of December
31, 2021:
Reportable Segment Operating Segment Reporting Unit
US Colorado Century Casino and Hotel - Central City
Century Casino and Hotel - Cripple Creek
West Virginia Mountaineer Casino, Racetrack and Resort
Missouri Century Casino Cape Girardeau
Century Casino Caruthersville
Canada Edmonton Century Casino and Hotel - Edmonton
Century Casino St. Albert
Century Mile Racetrack and Casino
Calgary Century Downs Racetrack and Casino
Century Sports
Poland Casinos Poland
Corporate and Other Corporate and Other Cruise Ships and Other
Corporate Other
On January 12, 2022, the Company's auxiliary Century Resorts Alberta ("CRA")
gone into a conclusive consent to sell CRA's property and working in
Calgary, Alberta. The deal happened on February 10, 2022. After shutting, CRA
quit working Century Sports and moved the rent arrangement for the
gambling club premises to the purchaser.
The Company's net working income expanded by $22.5 million, or 27%, and by
$84.2 million, or 28%, for the three months and year finished December 31, 2021,
contrasted with the three months and year finished December 31, 2020. Following is a
rundown of the progressions in net working income by reportable portion for the
90 days and year finished December 31, 2021, contrasted with the three months
what's more, year finished December 31, 2020:
Net Operating Revenue
For the three For the year
months
finished December 31, $ % finished December 31, $ %
Sums in 2021 2020 Change 2021 2020 Change
thousands
Joined together $ 68,316 $ 58,440 $ 9,876 17% $ 283,285 $ 198,344 $ 84,941 43%
States
Canada 16,396 12,757 3,639 29% 46,428 50,240 (3,812) (8%)
Poland 22,478 13,477 9,001 67% 58,226 54,271 3,955 7%
Corporate 110 127 (17) (13%) 567 1,413 (846) (60%)
also, Other
Combined $ 107,300 $ 84,801 $ 22,499 27% $ 388,506 $ 304,268 $ 84,238 28%
The Company's profit from tasks diminished by ($2.3) million, or (12%),
also, expanded by $68.6 million, or 54051%, for the three months and year finished
December 31, 2021, contrasted with the three months and year finished December 31,
2020. Following is an outline of the progressions in profit (misfortune) from activities
by reportable section for the three months and year finished December 31, 2021,
contrasted with the three months and year finished December 31, 2020:
Profit (Loss) from Opera
For the three months For the year
finished December 31, $ % finished December 31, $ %
Sums in 2021 2020 Change 2021 2020 Change
thousands
Joined together $ 16,455 $ 12,507 $ 3,948 32% $ 77,021 $ (1,191) $ 78,212 6567%
States
Canada 2,180 9,195 (7,015) (76%) 4,534 9,350 (4,816) (52%) 카지노사이트 추천
Poland 2,085 (1,077) 3,162 294% (443) (2,783) 2,340 84%
Corporate (4,290) (1,878) (2,412) (128%) (12,594) (5,503) (7,091) (129%)
what's more, Other
Comments
Post a Comment