Century Casinos has announced its financial results for the three months ended March 31, 2009.
For the first quarter of the year, net operating revenue from continuing operations was $11,999,000 and consolidated adjusted EBITDA was $2,099,000. This represents an 11 per cent decrease in net operating revenue from continuing operations over the same quarter of last year and an eight per cent increase in consolidated adjusted EBITDA.
“We experienced a decline in net operating revenue at our properties in Colorado, primarily due to a decrease in our market share of the Cripple Creek, Colorado, gaming market and a decline in the overall gaming market in Central City, Colorado,” the company said. “Net operating revenue in Edmonton, as reported in US dollars was 14 per cent lower than the same period in 2008 but increased by seven per cent in the local currency.”
