Global casino operator Century Casinos Incorporated has revealed that a recent program of acquisitions and refurbishments helped its annual net revenues for 2016 reach an all-time high of $139.23 million while its adjusted earnings before interest, tax, depreciation and amortization hit a record $25.76 million.
Colorado Springs-based Century Casinos Incorporated is responsible for a pair of casinos in the western American state of Colorado encompassing properties in the towns of Cripple Creek and Central City and it revealed that these venues recorded a 6% increase year-on-year in annual net operating revenues to $30.13 million while their adjusted earnings before interest tax, depreciation and amortization for 2016 rose by 12% to reach $7.19 million.
NASDAQ-listed Century Casinos Incorporated additionally runs four venues in the western Canadian province of Alberta including the recently-purchased Century Casino St Albert and it explained that these casinos had reported annual net operating revenues of $50.23 million, which represented an 11% boost year-on-year, while their 2016 adjusted earnings before interest, tax, depreciation and amortization improved similarly to $16.26 million.
Further afield and Century Casinos Incorporated moreover holds a 66% stake in the Casinos Poland-branded chain of eight casinos in Poland with the firm declaring that these venues had reported a 5% boost year-on-year in net operating revenues for 2016 to $30.15 million while their adjusted earnings before interest, tax, depreciation and amortization for the twelve-month period had swelled by 15% to $8.13 million.
All of this saw Century Casinos Incorporated post a 2% rise year-on-year in annual operational earnings to $16.16 million with net 2016 earnings growing by some 6.3% to $13.81 million although the firm’s twelve-month net attributable earnings dropped by 20% to $9.21 million.
“2016 was a tremendous year for Century Casinos Incorporated with net operating revenues and adjusted earnings before interest, tax, depreciation and amortization reaching all-time record levels,” read a joint statement from Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers for Century Casinos Incorporated. “The year ended with a strong fourth quarter with all major operating regions posting solid increases in net operating revenues and adjusted earnings before interest, tax, depreciation and amortization compared to the fourth quarter of 2015. The refurbishment of the VIP rooms at the 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.”