Following its acquisition of an additional stake in Casinos Poland, Century Casinos saw a 46 per cent uplift in net operating revenue to $104.6m in 2013.
The company, which operates both land-based and cruise ship casinos, completed the purchase of an additional 33.3 per cent ownership interest in Casinos Poland in April last year. It now has a 66.6 per cent stake in the business.
Century reported EBITDA of $12.6m, a 20 per cent increase on the previous year’s figure. Net earnings for 2013, meanwhile, stood at $6.2m – 51 per cent higher than in 2012.
“During 2013, against a backdrop of ongoing uncertainty in the macroeconomic picture and consumer weakness in most of the markets that we operate in, we made significant progress with the implementation of our strategy to increase shareholder value,” said co-CEOs Erwin Haitzmann and Peter Hoetzinger. “From an operational perspective, we diligently focused on refining and adjusting our product, our marketing and our amenities.
“We’ve also improved our operational and financial flexibility, which will allow us to consider a variety of potential growth opportunities that we believe will create significant value for our business and our investors in the years to come.”
