Gaming operator Century Casinos posted “solid” results in the first quarter of the year, company co-CEOs Erwin Haitzmann and Peter Hoetzinger said.
Net operating revenue stood at $17.6m for the period, up three per cent on the corresponding three months in 2011. EBITDA increased nine per cent to $2.8m and net earnings soared by 211 per cent to $1.1m.
"We posted solid results in the first quarter,” Haitzmann and Hoetzinger said. “Specifically, earnings from operations more than doubled for the three months ended March 31, 2012, compared to the same period in 2011.
“Earnings were driven by strong bottom-line performances in Colorado and Canada. With continuing improvements to our operations and facilities, we plan to drive same store sales growth and considerable value in the long run.”
The first-quarter results highlight the company’s “long-term commitment” to building value for its shareholders through “disciplined operating strategies and conservative financial planning,” they added.
“We are actively pursuing domestic and international casino opportunities, where we can leverage our proven development and operating expertise as well as our strong balance sheet and attractive cost of capital."
