Century Casinos, which has properties in Canada, the US, Poland and cruise ships, has reported a 20% increase in net operating revenue in its second quarter of 2015 results.
Century Casinos, which has properties in Canada, the US, Poland and cruise ships, has reported a 20 per cent increase in net operating revenue in its second quarter of 2015 results. The company achieved US$37.9m turnover in the three months ended June 30, 2015. Its adjusted EBITDA was $6.8m, a 116 per cent increase over the same period of the previous year.
The company reported that it had terminated its concession agreements with Oceania Cruises and Regent Seven Seas Cruises and also that there had been a reduction in its Austrian tax valuation allowance. The first two were early terminations and resulted in consideration of $4m. It had operated eight ship-based casinos on those two lines. In May it had started operating ship-based casinos on Windstar ships, and a new TUI cruise ship.
At the same time its new locations the Century Downs Racetrack and Casino and Century Bets! – a horserace track location and pari-mutuel network in Canada, respectively, in April and May of this year.
Most of the net operating revenue improvements came from Canada, while its Casinos Poland operation was the only one to show a reduction.
