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Revenue: $130.4 million for Q1 2025.
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EBITDAR: $20.2 million for the quarter.
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Operating Margin: Maintained consistent with Q1 of last year despite challenges.
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Carded Gaming Revenue (U.S.): Increased by 1%.
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Uncarded Gaming Revenue (U.S.): Decreased by 2.5%.
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Total Visitor Volume: Down 3% with a 2% decline in total trips.
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Spend Per Trip: Increased by 4%.
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Caruthersville Property Revenue: Gaming revenue up 17% or $2.1 million compared to Q1 last year.
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Caruthersville EBITDAR Margin: Running at 43%.
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Cape Girardeau EBITDAR Margin: 36% for the quarter.
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Colorado Sports Betting Income Loss: Approximately $0.50 million for the quarter.
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Nugget Casino Resort EBITDAR: Positive $700,000 turnaround from a negative last year.
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Cash and Cash Equivalents: $85 million at the end of the quarter.
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Total Debt: $340 million with net debt of $255 million.
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Net Debt-to-EBITDAR Ratio: 6.9 times, 7.6 times on a lease-adjusted basis.
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CapEx: $4 million for growth projects and $14 million in maintenance CapEx expected.
Release Date: May 12, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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Century Casinos Inc (NASDAQ:CNTY) reported a revenue of $130.4 million for Q1 2025, maintaining a consistent operating margin despite adverse weather conditions and other challenges.
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The new Caruthersville property in Missouri showed strong performance with a 17% increase in total gaming revenue, exceeding initial expectations.
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The company is optimistic about the future with sports betting expected to go live in Missouri by the end of the year, potentially boosting high-margin EBITDAR.
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The Nugget Casino Resort in Sparks-Reno, Nevada, turned around its EBITDAR from a negative last year to a positive $700,000 this quarter, indicating successful cost-cutting measures.
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Century Casinos Inc (NASDAQ:CNTY) has a solid cash position of $85 million and plans to buy back stock, indicating confidence in the company’s growth potential and undervalued share price.
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The company faced significant challenges due to weather impacts, one less operating day, and a partial loss of sports betting revenue in Colorado, affecting overall performance.
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Visitor volume decreased by 3%, driven by a reduction in visits from the 50-plus age group, although this was partly offset by a 1% increase from younger guests.
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In Colorado, the loss of two-thirds of sports betting income resulted in a $0.50 million decline for the quarter, impacting overall revenue.
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The East segment, including Mountaineer in West Virginia and Rocky Gap in Maryland, experienced a challenging quarter with lower-end customers underperforming.
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The company’s net debt-to-EBITDAR ratio is currently high at 6.9 times, although it is expected to decrease by the end of the year.
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