Notable Runner: Century Casinos, Inc. (NASDAQ:CNTY)

Shares of Century Casinos, Inc. (NASDAQ:CNTY) closed the trading at a price of $9.09 with the positive/negative change of -0.55%. In the past session approximately 35,932 shares were exchanged against the average daily trading volume of 115,296 shares. The stock touched to the maximum level of $9.19, and it reached the lower level of $9.01 in past session.

Century Casinos, Inc. (CNTY) recently reported its financial results for the three months and year ended December 31, 2018.

Fourth Quarter 2018 Highlights*

  • Net operating revenue was $45.1M, an raise of 15% from the three months ended December 31, 2017.
  • Earnings from operations were $2.0M, an raise of 16% from the three months ended December 31, 2017.
  • Net earnings attributable to Century Casinos, Inc. shareholders were $0.5M, an raise of 110% from the three months ended December 31, 2017.
  • Adjusted EBITDA** was $5.8M, an raise of 7% from the three months ended December 31, 2017.
  • Basic and diluted earnings per share were $0.02, an raise of 110% from the three months ended December 31, 2017.  

2018 Highlights*

  • Net operating revenue was $168.9M, an raise of 10% from the year ended December 31, 2017.
  • Earnings from operations were $9.5M, a decrease of 35% from the year ended December 31, 2017.
  • Net earnings attributable to Century Casinos, Inc. shareholders were $3.4M, a decrease of 46% from the year ended December 31, 2017.
  • Adjusted EBITDA** was $23.4M, a decrease of 10% from the year ended December 31, 2017.
  • Basic earnings per share were $0.12, a decrease of 52% from the year ended December 31, 2017.
  • Diluted earnings per share were $0.11, a decrease of 54% from the year ended December 31, 2017.
  • Book value per share*** at December 31, 2018 was $6.00.

The Company’s earnings from operations raised by $0.3M, or 16%, and reduced by ($5.2M), or (35%), for the three months and year ended December 31, 2018, contrast to the three months and year ended December 31, 2017.  Following is a summary of the changes in earnings (loss) from operations by reportable section for the three months and year ended December 31, 2018, contrast to the three months and year ended December 31, 2017.

Net earnings (loss) attributable to Century Casinos, Inc. shareholders raised by $5.8M, or 110%, and reduced by ($2.9M), or (46%), for the three months and year ended December 31, 2018, contrast to the three months and year ended December 31, 2017. Following is a summary of the changes in net earnings (loss) attributable to Century Casinos, Inc. shareholders by reportable section for the three months and year ended December 31, 2018, contrast to the three months and year ended December 31, 2017.

Balance Sheet and Liquidity 
As of December 31, 2018, the Company had $45.6M in cash and cash equivalents and $59.5M in outstanding debt on its balance sheet contrast to $74.7M in cash and cash equivalents and $56.7M in outstanding debt at December 31, 2017. The outstanding debt as of December 31, 2018 included $40.5M related to the Company’s credit contract with the Bank of Montreal, $2.6M of bank debt related to Casinos Poland, $2.4M of bank debt related to Century Casino Bath, $0.2M related to capital leases for Century Resorts Alberta, Century Casino Calgary, Century Casino St. Albert, Century Downs Racetrack and Casino (“CDR”) and Century Mile Racetrack and Casino, and $14.3M related to a long-term land lease for CDR, net of $0.5M in deferred financing costs.

EPS growth for this year is 98.50% and EPS growth for next year is expected to reach at 76.57%. EPS growth in past five years was -15.00% while EPS growth in next five years is projected to arrive at 25.00%. Sales growth past 5 years was measured at 10.10%.

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