Century Casinos has announced its financial results for the first three months of 2019.
Net operating revenue was $45.6m, an increase of 12 per cent from the three months ended March 31, 2018. Earnings from operations were $3.4m, an increase of six per cent from 2018.
Net earnings attributable to shareholders were $1.1m, an increase of 15 per cent. Adjusted EBITDA was $6.7m, an increase of two per cent. Basic and diluted earnings per share were $0.04, an increase of 33 per cent.
“We are pleased with the 12 per cent net operating revenue growth this quarter, with all reportable segments contributing to the increased results,” said co-CEOs Erwin Haitzmann and Peter Hoetzinger.
“Adjusted EBITDA growth was impacted by $0.7m of additional non-recurring expenses related to the opening of our newest property, Century Mile Racetrack and Casino. Century Mile began operating the northern Alberta pari-mutuel network at the beginning of the year, contributing to the $1.6m revenue growth in the Canada reportable segment.
“We had a successful grand opening at Century Mile in April and are excited for the success this property has had in its first month of operation.”