Century Casinos has announced its financial results for the year ended December 31, 2016, reporting record levels of revenue and earnings (EBITDA).
For Q4 2016, net operating revenue was US$36.3m, an increase of 14 per cent from the three months ended December 31, 2015. Earnings from operations were $3.7m, an increase of 109 per cent, and net earnings attributable to Century Casinos shareholders were $2.8m, an increase of 695 per cent.
Adjusted EBITDA was $6.3m, an increase of 40 per cent, and earnings per share were $0.12.
“2016 was a tremendous year for Century Casinos with net operating revenue and adjusted EBITDA reaching all-time record levels,” said Erwin Haitzmann and Peter Hoetzinger, co chief executive officers of Century Casinos, in a statement. “The year ended with a strong fourth quarter, with all major operating regions posting solid increases in net operating revenue and adjusted EBITDA compared to the fourth quarter of 2015. In local currencies, Canada increased eight per cent and 43 per cent, the US increased 11 per cent and 38 per cent and Poland increased 23 per cent and 52 per cent respectively.
“The refurbishment of the VIP rooms at Century Casino and Hotel Edmonton, the acquisition of Century Casino St Albert, and the addition of three ship-based casinos have already generated positive results and will help us grow further."
