Century Casinos, Inc. reported a net operating revenue of $575.9 million for the fiscal year ending December 31, 2024, marking a 4.7% increase from $550.2 million in 2023. The company's gaming revenue rose to $419.9 million, a slight increase of 1.8% compared to the previous year. However, the company experienced a significant net loss attributable to shareholders of $128.2 million, a stark contrast to the net loss of $28.2 million in 2023. This decline was primarily driven by a $43.7 million impairment of goodwill related to the Nugget Casino, which was acquired in April 2023.
The financial performance reflects several strategic developments, including the opening of a new land-based casino and hotel in Caruthersville, Missouri, which commenced operations on November 1, 2024. This facility features 580 slot machines and nine live table games, nearly doubling the gaming positions compared to the previous temporary location. Additionally, the company opened a new hotel, The Riverview, at its Cape Girardeau location in April 2024, further enhancing its offerings in the Midwest.
Operationally, Century Casinos reported a total employee headcount of 4,067 as of December 31, 2024, with 3,181 full-time and 886 part-time employees. The company has faced challenges in attracting and retaining staff, which has led to adjustments in operating hours and available amenities at some properties. Despite these challenges, the company has seen an increase in hotel revenue, which rose by 14.2% to $48.3 million, and food and beverage revenue, which increased by 17.3% to $58.9 million.
In terms of geographic expansion, Century Casinos continues to explore additional gaming projects and acquisition opportunities, particularly in the United States and Canada. However, the company faced setbacks in Poland, where it experienced a 15.1% decline in net operating revenue due to licensing-related closures at several locations. The company is currently awaiting regulatory approval for its casinos in Krakow and the LIM Center in Warsaw, which were not awarded licenses in 2024.
Looking ahead, Century Casinos anticipates that the economic environment will remain challenging, with potential impacts on consumer discretionary spending. The company plans to continue its focus on operational efficiency and strategic growth initiatives, including partnerships for sports betting in Missouri, which is expected to commence in late 2025. The management remains cautious about the potential for increased competition and regulatory changes that could affect its operations across various markets.
About CENTURY CASINOS INC /CO/
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