CENTURY CASINOS Reports Record Second Quarter Revenue of USD 136.8 Million in FY2023
August 27, 2023
🌥️Earnings Overview
CENTURY CASINOS ($NASDAQ:CNTY) reported total revenue of USD 136.8 million on June 30 2023, a 23.1% increase from the same period in the previous year. However, their net income was USD -2.0 million, a decrease from 8.9 million in the second quarter of FY2022.
Price History
This news saw the company’s stock open at $7.7 and close at $7.5, a drop of 5.2% compared to its closing price on the previous day of $7.9. The company’s revenue was driven by the success of their online sports betting operations, as well as the continued growth of their land-based operations in the US and other markets around the world. Despite the slight dip in stock price, investors remain optimistic about CENTURY CASINOS’ performance.
President and CEO Peter Hoetzinger stated that the results demonstrate “the strength and durability of our business model” and that “we will continue to focus on delivering profitable growth to our shareholders.” The company is confident that their expansion plans will allow them to further capitalize on their current successes, as well as diversify their revenue streams to become more resilient against market volatility. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Century Casinos. More…
| Total Revenues | Net Income | Net Margin |
| 461.57 | -4.3 | -1.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Century Casinos. More…
| Operations | Investing | Financing |
| 32.41 | -125.58 | 5.5 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Century Casinos. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 999.24 | 752.64 | 4.77 |
Key Ratios Snapshot
Some of the financial key ratios for Century Casinos are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 23.7% | 117.3% | 16.6% |
| FCF Margin | ROE | ROA |
| -0.9% | 33.3% | 4.8% |
Analysis
GoodWhale has done a deep dive into the fundamentals of CENTURY CASINOS. According to our Star Chart, we have classified CENTURY CASINOS as a ‘rhino’ – a type of company that has achieved moderate revenue or earnings growth. Investors who are looking for companies with solid growth potential may be interested in CENTURY CASINOS. CENTURY CASINOS has an intermediate health score of 6/10. This indicates that the company might be able to pay off debt and fund future operations. CENTURY CASINOS is strong in terms of growth, medium in terms of profitability, and weak in terms of asset and dividend. All in all, CENTURY CASINOS may offer some interesting investment opportunities for investors willing to take a risk. More…
Peers
The company was founded in 1992 and is headquartered in Colorado Springs, Colorado. The company operates casinos, racetracks, and off-track betting facilities. The company’s competitors include Full House Resorts Inc, MGM China Holdings Ltd, and Macau Legend Development Ltd.
– Full House Resorts Inc ($NASDAQ:FLL)
Full House Resorts Inc is a gaming and resort company that owns, develops, and operates gaming establishments and related hospitality properties. It has a market cap of 236.56M as of 2022 and a Return on Equity of 16.8%. The company’s properties include casinos, hotels, and restaurants.
– MGM China Holdings Ltd ($SEHK:02282)
MGM China Holdings Ltd is a holding company that owns and operates casinos and resorts in Macau. The company has a market cap of 15.66B as of 2022 and a Return on Equity of -41969.86%. MGM China Holdings Ltd is a subsidiary of MGM Resorts International.
– Macau Legend Development Ltd ($OTCPK:MALDF)
Macau Legend Development Ltd is a casino resort developer and operator in Macau. The company operates the Macau Fisherman’s Wharf and the Babylon Casino, among other properties. Macau Legend Development Ltd has a market cap of 163.52M as of 2022. The company’s Return on Equity for the same year is -12.92%.
Summary
CENTURY CASINOS reported strong overall revenue growth of 23.1% in the second quarter of FY2023, reaching USD 136.8 million.
However, their reported net income was USD -2.0 million, which was a significant decrease from the previous year’s 8.9 million. Investors have reacted negatively to the news, as the stock price declined following the announcement. Although the revenue growth is positive and encouraging, the drastic decrease in net income should be taken into account when considering an investment in CENTURY CASINOS. Furthermore, investors should do their due diligence to get a better understanding of the company and its performance before making any decisions.
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