Century Casinos has announced its financial results for the three months and year ended December 31, 2012.
Net operating revenue was $71.8m, a one per cent increase from the year ended December 31, 2011. Net earnings were $4.1m a 35 per cent increase, and earnings per share were $0.17
In the fourth quarter, net operating revenue was $17.7m, a one per cent increase from the final three months of 2011. Net earnings were $0.6m, a six per cent increase, and earnings per share were $0.03.
“We are pleased to report another quarter with growth in revenue and net earnings, even though business levels softened a bit in the latter part of the year,” said Erwin Haitzmann and Peter Hoetzinger, joint CEOs, in a statement.
“We expect to close the Casinos Poland transaction, which we expect will be immediately accretive, in April and are very excited about the growth potential it brings for our company. During 2012, we made significant progress on the implementation of our strategy to increase shareholder value and improve our financial flexibility and we successfully executed this strategy against a backdrop of ongoing macroeconomic uncertainty.”
