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Q4 2024 Revenue: $137.8 million, down 4% year-over-year.
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Q4 2024 Adjusted EBITDA: $21.1 million, down 17% year-over-year.
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US Operations Revenue: Down 3% year-over-year.
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US Operations EBITDA: Down 8% year-over-year.
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New Casino in Carouseville, Missouri: Revenue up 27%, EBITDA up 32% since opening.
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Central Casino Hotel Cape Girardeau Revenue: Up 11% year-over-year.
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Central Casino Hotel Cape Girardeau EBITDA: Up 7% year-over-year.
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Missouri and Colorado Property Margins: Between 35% and 40% during the quarter.
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East Segment Revenue: Down 7% year-over-year.
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East Segment EBITDA: Down 29% year-over-year.
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West Segment Gaming Revenue: Down 10% year-over-year.
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West Segment EBITDAR: Increased by 46% year-over-year.
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Canada Revenue: Down 7% year-over-year.
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Canada EBITDA: Down 17% year-over-year.
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Cash and Cash Equivalents: $99 million at the end of Q4 2024.
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Total Debt: $340 million, resulting in net debt of $241 million.
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Net Debt to EBITDA Ratio: 5.5 times, 6.9 times on a lease-adjusted basis.
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CapEx Spend: $110 million in total, with $50 million from VICI for Missouri development.
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2025 CapEx Expectation: $4 million for growth projects, $14 million for maintenance.
Release Date: March 13, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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The new land-based facility in Caruthersville, Missouri, has exceeded initial expectations with revenue and EBITDA up 27% and 32% respectively since opening.
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The Central Casino Hotel Cape Girardeau in Missouri reported a strong quarter with revenue up 11% and EBITDA up 7%, driven by the new hotel and solid food and beverage sales.
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The new hotel in Cape Girardeau is expanding reach into new markets, with revenue from patrons living outside Missouri, Illinois, and Kentucky increasing by 82%.
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The Nugget Casino Resort in Nevada achieved a 46% year-over-year increase in EBITDAR due to strict cost discipline and promising initial results from changes to the slot floor.
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Century Casinos Inc (NASDAQ:CNTY) has no debt maturities until 2029, providing financial stability and allowing leverage ratios to ramp down with the conclusion of major capital expenditures.
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Fourth quarter consolidated revenue was down 4% year-over-year, and adjusted EBITDA decreased by 17%.
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The East segment, including Mountaineer Casino in West Virginia and Rocky Gap Casino Resort in Maryland, faced challenges with revenue down 7% and EBITDA down 29%.
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The company experienced a significant decline in uncarded revenue, particularly in Colorado, where it decreased by 30%, impacting overall revenue.
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Two of the three sports betting providers using Century Casinos Inc (NASDAQ:CNTY)’s licenses ceased operations, affecting sports betting revenue.
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The company’s operations in Canada and Europe faced difficulties, with Canadian revenue down 7% and EBITDA down 17%, and challenges in divesting Polish operations due to geopolitical and ownership issues.
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