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Century Casinos, Inc. Announces Fourth Quarter and Full Year 2019 Results

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Century Casinos, Inc.  announced its financial results for the three months and year ended December 31, 2019.

Fourth Quarter 2019 Highlights*

  • Net operating revenue was $67.2 million, an increase of 49% from the three months ended December 31, 2018.
  • Loss from operations was ($14.7) million, a decrease of 846% from the three months ended December 31, 2018.
  • Net loss attributable to Century Casinos, Inc. shareholders was ($20.1) million, a decrease of 4080% from the three months ended December 31, 2018.
  • Adjusted EBITDA** was $9.8 million, an increase of 69% from the three months ended December 31, 2018.
  • Loss per share was ($0.68).

2019 Highlights*

  • Net operating revenue was $218.2 million, an increase of 29% from the year ended December 31, 2018.
  • Loss from operations was ($5.2) million, a decrease of 155% from the year ended December 31, 2018.
  • Net loss attributable to Century Casinos, Inc. shareholders was ($19.2) million, a decrease of 664% from the year ended December 31, 2018.
  • Adjusted EBITDA** was $30.3 million, an increase of 30% from the year ended December 31, 2018.
  • Basic loss per share was ($0.65), a decrease of 642% from the year ended December 31, 2018.
  • Diluted loss per share was ($0.65), a decrease of 691% from the year ended December 31, 2018.
  • Book value per share*** at December 31, 2019 was $5.54.

In December 2019, the Company determined that the intangible and tangible assets at Century Casino Bath were impaired. The impairment, which totaled $16.5 million, was determined after evaluating losses incurred by the casino since operations began and future forecasts of continued losses due to the current regulatory environment for casinos in England.

On December 6, 2019, the Company completed its acquisition (the “Acquisition”) of the operations of Isle Casino Cape Girardeau, located in Cape Girardeau, Missouri, Lady Luck Caruthersville, located in Caruthersville, Missouri, and Mountaineer Casino, Racetrack and Resort located in New Cumberland, West Virginia (collectively, the “Acquired Casinos”), from Eldorado Resorts, Inc. for an aggregate purchase price of approximately $110.6 million. Immediately prior to the Acquisition, the real estate assets underlying the Acquired Casinos were sold to an affiliate of VICI Properties Inc. (“VICI PropCo”). On the closing date, the Company and VICI PropCo entered into a triple net lease agreement (the “Master Lease”) for the three Acquired Casino properties. The Master Lease has an initial annual rent of approximately $25.0 million and an initial term of 15 years, with four five-year renewal options.

The consolidated results for the three months and year ended December 31, 2019 and 2018 are as follows:

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For the three months

For the year

Amounts in thousands, except per share data

ended December 31,

ended December 31,

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Consolidated Results:

2019

2018

% Change

2019

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2018

% Change

Net Operating Revenue

$

67,236

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$

45,106

49%

$

218,227

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$

168,938

29%

(Loss) Earnings from Operations

(14,745)

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1,976

(846%)

(5,220)

9,459

(155%)

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Net (Loss) Earnings Attributable to Century Casinos, Inc. Shareholders

$

(20,140)

$

506

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(4080%)

$

(19,155)

$

3,394

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(664%)

Adjusted EBITDA**

$

9,776

$

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5,801

69%

$

30,281

$

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23,377

30%

(Loss) Earnings Per Share Attributable to Century Casinos, Inc. Shareholders:

Basic

$

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(0.68)

$

0.02

(3500%)

$

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(0.65)

$

0.12

(642%)

Diluted

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$

(0.68)

$

0.02

(3500%)

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$

(0.65)

$

0.11

(691%)

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“We are pleased with the fourth quarter results and the immediate impact the addition of the three casinos acquired from Eldorado Resorts had on our operating results,” Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos remarked. “The acquired casinos have had very encouraging initial results, and we are excited to continue integrating the operations into the Century brand and to see anticipated meaningful growth from this acquisition on Century Casinos in the future,” Messrs. Haitzmann and Hoetzinger concluded.

The Company is carefully monitoring the situation caused by the coronavirus (COVID-19) pandemic. Although the entire situation is unpredictable, our management teams are prepared to control what they can control. Our casinos are following and implementing the recommendations from the US Centers for Disease Control and Prevention, which include everyday preventative actions to help prevent the spread of respiratory viruses, such as washing your hands often with soap and water, avoiding touching your eyes, nose, and mouth with unwashed hands, covering your cough or sneeze with a tissue, cleaning and disinfecting frequently touched objects and surfaces and of course staying home when you are sick. We are also putting an extra effort into straight-forward and realistic guest messaging and have stepped-up employee trainings to ensure strict compliance with our policies and procedures. We are in constant communication with our employees to reinforce our sanitation safety procedures in both guest-facing and back-of-house areas. We are sanitizing high-traffic public areas at an increased frequency. Proper procedures are posted in all back-of-house work areas.

To date, COVID-19 has not had a significant impact on our US or Canadian markets, while the market in Poland has been weakening by approximately ten percent. Our customer base is very diversified within North America. Our casinos are ‘local’ casinos in urban and suburban locations, with the vast majority of our business from customers who live within an hour from our facilities. Our casinos have negligible meeting and convention business and few of our customers travel by air to visit us. This may temper the impact of COVID-19 on our business, but this situation continues to evolve and could adversely impact us until the virus runs its course.

Reportable Segment Results*
The table below shows the Company’s operating segments that are included in each of the Company’s reportable segments as of December 31, 2019:

Reportable Segment

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Operating Segment

Reporting Unit

United States

Colorado

Century Casino & Hotel – Central City

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Century Casino & Hotel – Cripple Creek

West Virginia

Mountaineer Casino, Racetrack & Resort

Missouri

Century Casino Cape Girardeau

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Century Casino Caruthersville

Canada

Edmonton

Century Casino & Hotel – Edmonton

Century Casino St. Albert

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Century Mile Racetrack and Casino

Calgary

Century Casino Calgary

Century Downs Racetrack and Casino

Century Bets! Inc.

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Poland

Poland

Casinos Poland

Corporate and Other

Corporate and Other

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Cruise Ships & Other

Century Casino Bath

Corporate Other

The Company’s net operating revenue increased by $22.1 million, or 49%, and by $49.3 million, or 29%, for the three months and year ended December 31, 2019, compared to the three months and year ended December 31, 2018. Following is a summary of the changes in net operating revenue by reportable segment for the three months and year ended December 31, 2019, compared to the three months and year ended December 31, 2018:

Net Operating Revenue

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For the three months

For the year

ended December 31,

ended December 31,

Amounts in thousands

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2019

2018

$ Change

% Change

2019

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2018

$ Change

% Change

United States

$

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23,926

$

7,938

$

15,988

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201%

$

49,998

$

33,483

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$

16,515

49%

Canada

20,291

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15,678

4,613

29%

80,650

61,361

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19,289

31%

Poland

21,675

19,514

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2,161

11%

81,894

68,209

13,685

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20%

Corporate and Other

1,344

1,976

(632)

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(32%)

5,685

5,885

(200)

(3%)

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Consolidated

$

67,236

$

45,106

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$

22,130

49%

$

218,227

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$

168,938

$

49,289

29%

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The Company’s earnings from operations decreased by ($16.7) million, or (846%), and by ($14.7) million, or (155%), for the three months and year ended December 31, 2019, compared to the three months and year ended December 31, 2018.  Following is a summary of the changes in earnings (loss) from operations by reportable segment for the three months and year ended December 31, 2019, compared to the three months and year ended December 31, 2018:

Earnings (Loss) from Operations

For the three months

For the year

ended December 31,

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ended December 31,

Amounts in thousands

2019

2018

$ Change

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% Change

2019

2018

$ Change

% Change

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United States

$

4,685

$

1,033

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$

3,652

354%

$

9,478

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$

5,882

$

3,596

61%

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Canada

4,000

3,675

325

9%

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16,115

14,633

1,482

10%

Poland

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1,627

460

1,167

254%

5,915

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145

5,770

3979%

Corporate and Other

(25,057)

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(3,192)

(21,865)

(685%)

(36,728)

(11,201)

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(25,527)

(228%)

Consolidated

$

(14,745)

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$

1,976

$

(16,721)

(846%)

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$

(5,220)

$

9,459

$

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(14,679)

(155%)

Net earnings attributable to Century Casinos, Inc. shareholders decreased by ($20.6) million, or (4080%), and by ($22.5) million, or (664%), for the three months and year ended December 31, 2019, compared to the three months and year ended December 31, 2018. Following is a summary of the changes in net earnings (loss) attributable to Century Casinos, Inc. shareholders by reportable segment for the three months and year ended December 31, 2019, compared to the three months and year ended December 31, 2018:

Net Earnings (Loss) Attributable to Century Casinos, Inc. Shareholders

For the three months

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For the year

ended December 31,

ended December 31,

Amounts in thousands

2019

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2018

$ Change

% Change

2019

2018

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$ Change

% Change

United States

$

2,261

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$

767

$

1,494

195%

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$

5,825

$

4,373

$

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1,452

33%

Canada

948

2,077

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(1,129)

(54%)

6,669

7,715

(1,046)

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(14%)

Poland

1,352

179

1,173

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655%

3,466

(153)

3,619

2365%

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Corporate and Other

(24,701)

(2,517)

(22,184)

(881%)

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(35,115)

(8,541)

(26,574)

(311%)

Consolidated

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$

(20,140)

$

506

$

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(20,646)

(4080%)

$

(19,155)

$

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3,394

$

(22,549)

(664%)

Items deducted from or added to earnings from operations to arrive at net earnings (loss) attributable to Century Casinos, Inc. shareholders include interest income, interest expense, gains (losses) on foreign currency transactions and other, income tax expense and non-controlling interests.

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The Company’s Adjusted EBITDA** increased by $4.0 million, or 69%, and by $6.9 million, or 30%, for the three months and year ended December 31, 2019 compared to the three months and year ended December 31, 2018. Following is a summary of the changes in Adjusted EBITDA** by reportable segment for the three months and year ended December 31, 2019 compared to the three months and year ended December 31, 2018:

Adjusted EBITDA**

For the three months

For the year

ended December 31,

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ended December 31,

Amounts in thousands

2019

2018

$ Change

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% Change

2019

2018

$ Change

% Change

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United States

$

5,441

$

1,582

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$

3,859

244%

$

11,825

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$

8,061

$

3,764

47%

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Canada

5,378

4,991

387

8%

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21,212

19,522

1,690

9%

Poland

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2,484

1,733

751

43%

9,392

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4,890

4,502

92%

Corporate and Other

(3,527)

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(2,505)

(1,022)

(41%)

(12,148)

(9,096)

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(3,052)

(34%)

Consolidated

$

9,776

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$

5,801

$

3,975

69%

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$

30,281

$

23,377

$

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6,904

30%

Balance Sheet and Liquidity
As of December 31, 2019, the Company had $54.8 million in cash and cash equivalents and $179.0 million in outstanding debt on its balance sheet compared to $45.6 million in cash and cash equivalents and $59.5 million in outstanding debt at December 31, 2018. The outstanding debt as of December 31, 2019 included the following: $170.0 million related to the Company’s credit agreement with a group of lenders led by Macquarie Capital that the Company entered into in December 2019 in connection with the Acquisition, replacing the Company’s credit agreement with the Bank of Montreal$2.0 million of bank debt related to Casinos Poland; $2.0 million of bank debt related to Century Casino Bath; and $15.0 million related to a long-term land lease for CDR, net of $10.0 million in deferred financing costs.

Conference Call Information
Today the Company will post a copy of its Annual Report on Form 10-K filed with the SEC for the year ended December 31, 2019 on its website at www.cnty.com/investor/financials/sec-filings. The Company will also post a presentation on the year end results on its website at www.cnty.com/investor/presentations.

The Company will host its fourth quarter 2019 earnings conference call today, Friday, March 13th, at 8:00 am MDT. U.S. domestic participants should dial 1-844-244-9160. For all international participants, please use 330-931-4670 to dial-in. Participants may listen to the call live at www.centurycasinos.adobeconnect.com/earningsrelease or obtain a recording of the call on the Company’s website until March 31, 2020 at www.cnty.com/investor/financials/sec-filings.

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CENTURY CASINOS, INC. AND SUBSIDIARIES
FINANCIAL INFORMATION – US GAAP BASIS

Condensed Consolidated Statements of (Loss) Earnings

For the three months

For the year

ended December 31,

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ended December 31,

Amounts in thousands, except for per share information

2019

2018

2019

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2018

Operating revenue:

Net operating revenue

$

67,236

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$

45,106

$

218,227

$

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168,938

Operating costs and expenses:

Total operating costs and expenses

81,981

43,152

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223,446

159,502

Earnings (loss) from equity investment

22

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(1)

23

(Loss) earnings from operations

(14,745)

1,976

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(5,220)

9,459

Non-operating income (expense), net

(3,569)

(1,053)

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(6,747)

(3,536)

(Loss) earnings before income taxes

(18,314)

923

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(11,967)

5,923

Income tax provision

(955)

(133)

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(4,174)

(1,917)

Net (loss) earnings

(19,269)

790

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(16,141)

4,006

Net earnings attributable to non-controlling interests

(871)

(284)

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(3,014)

(612)

Net (loss) earnings attributable to Century Casinos, Inc. shareholders

$

(20,140)

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$

506

$

(19,155)

$

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3,394

(Loss) earnings per share attributable to Century Casinos, Inc. shareholders:

  Basic

$

(0.68)

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$

0.02

$

(0.65)

$

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0.10

  Diluted

$

(0.68)

$

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0.02

$

(0.65)

$

0.10

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Weighted average common shares

  Basic

29,474

29,439

29,452

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29,401

  Diluted

29,474

29,861

29,452

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29,962

CENTURY CASINOS, INC. AND SUBSIDIARIES
FINANCIAL INFORMATION – US GAAP BASIS

Condensed Consolidated Balance Sheets

December 31,

December 31,

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Amounts in thousands

2019

2018

Assets

Current assets

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$

79,366

$

54,974

Property and equipment, net

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503,933

187,017

Other assets

143,601

36,834

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Total assets

$

726,900

$

278,825

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Liabilities and Equity

Current liabilities

$

56,570

$

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50,020

Non-current liabilities

498,255

45,422

Century Casinos, Inc. shareholders’ equity

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163,306

176,321

Non-controlling interests

8,769

7,062

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Total liabilities and equity

$

726,900

$

278,825

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CENTURY CASINOS, INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION

Constant Currency* Results (unaudited)

For the three months

For the year

ended December 31,

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ended December 31,

Amounts in thousands

2019

2018

% Change

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2019

2018

% Change

Net operating revenue as reported (GAAP)

$

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67,236

$

45,106

49%

$

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218,227

$

168,938

29%

Foreign currency impact vs. 2018

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559

7,207

Net operating revenue constant currency (non-GAAP)*

$

67,795

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$

45,106

50%

$

225,434

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$

168,938

33%

(Loss) earnings from operations (GAAP)

$

Advertisement

(14,745)

$

1,976

(846%)

$

Advertisement

(5,220)

$

9,459

(155%)

Foreign currency impact vs. 2018

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934

955

(Loss) earnings from operations constant currency (non-GAAP)*

$

(13,811)

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$

1,976

(799%)

$

(4,265)

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$

9,459

(145%)

Net (loss) earnings attributable to Century Casinos, Inc. shareholders as reported (GAAP)

$

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(20,140)

$

506

(4080%)

$

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(19,155)

$

3,394

(664%)

Foreign currency impact vs. 2018

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339

(40)

Net (loss) earnings attributable to Century Casinos, Inc. shareholders constant currency (non-GAAP)*

$

(19,801)

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$

506

(4013%)

$

(19,195)

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$

3,394

(666%)

Gains and losses on foreign currency transactions are added back to net (loss) earnings in the Company’s Adjusted EBITDA** calculations. As such, there is no foreign currency impact to Adjusted EBITDA** when calculating Constant Currency* results.

Adjusted EBITDA Margins *** (unaudited)

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For the three months

For the year

ended December 31,

ended December 31,

2019

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2018

2019

2018

United States

23%

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20%

24%

24%

Canada

27%

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32%

26%

32%

Poland

11%

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9%

11%

7%

Corporate and Other

(262%)

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(127%)

(214%)

(155%)

Consolidated Adjusted EBITDA Margin

15%

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13%

14%

14%

CENTURY CASINOS, INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION

Reconciliation of Adjusted EBITDA ** to Net Earnings (Loss) Attributable to Century Casinos, Inc. Shareholders by Reportable Segment.

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For the three months ended December 31, 2019

Amounts in thousands

United
States

Canada

Poland

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Corporate
and Other

Total

Net earnings (loss) attributable to Century Casinos, Inc. shareholders

$

2,261

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$

948

$

1,352

$

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(24,701)

$

(20,140)

Interest expense (income), net

1,635

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1,456

55

1,020

4,166

Income taxes (benefit)

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789

1,375

222

(1,431)

955

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Depreciation and amortization

756

1,356

781

254

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3,147

Net earnings attributable to non-controlling interests

195

676

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871

Non-cash stock-based compensation

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324

324

Loss (gain) on foreign currency transactions, cost recovery income and other

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26

(678)

16,704

16,052

Loss on disposition of fixed assets

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22

76

1

99

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Acquisition costs

4,302

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4,302

Adjusted EBITDA

$

5,441

$

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5,378

$

2,484

$

(3,527)

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$

9,776

For the three months ended December 31, 2018

Amounts in thousands

United
States

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Canada

Poland

Corporate
and Other

Total

Net earnings (loss) attributable to Century Casinos, Inc. shareholders

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$

767

$

2,077

$

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179

$

(2,517)

$

506

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Interest expense (income), net

1,084

50

65

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1,199

Income taxes (benefit)

266

435

280

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(848)

133

Depreciation and amortization

548

779

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1,025

402

2,754

Net earnings attributable to non-controlling interests

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174

89

21

284

Non-cash stock-based compensation

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255

255

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(Gain) loss on foreign currency transactions and cost recovery income

(95)

(138)

94

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(139)

Loss on disposition of fixed assets

1

4

27

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23

55

Pre-opening expenses

533

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221

754

Adjusted EBITDA

$

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1,582

$

4,991

$

1,733

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$

(2,505)

$

5,801

CENTURY CASINOS, INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION

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Reconciliation of Adjusted EBITDA ** to Net Earnings (Loss) Attributable to Century Casinos, Inc. Shareholders by Reportable Segment.

For the Year ended December 31, 2019

Amounts in thousands

United
States

Canada

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Poland

Corporate
and Other

Total

Net earnings (loss) attributable to Century Casinos, Inc. shareholders

$

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5,825

$

6,669

$

3,466

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$

(35,115)

$

(19,155)

Interest expense (income), net

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1,635

5,312

197

1,085

8,229

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Income taxes (benefit)

2,018

3,278

1,617

(2,739)

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4,174

Depreciation and amortization

2,330

4,539

3,064

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910

10,843

Net earnings (loss) attributable to non-controlling interests

1,295

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1,731

(12)

3,014

Non-cash stock-based compensation

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1,303

1,303

(Gain) loss on foreign currency transactions, cost recovery income and other

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(439)

(1,096)

16,709

15,174

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Loss on disposition of fixed assets

17

20

413

345

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795

Acquisition costs

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5,366

5,366

Pre-opening expenses

538

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538

Adjusted EBITDA

$

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11,825

$

21,212

$

9,392

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$

(12,148)

$

30,281

For the Year ended December 31, 2018

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Amounts in thousands

United
States

Canada

Poland

Corporate
and Other

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Total

Net earnings (loss) attributable to Century Casinos, Inc. shareholders

$

4,373

$

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7,715

$

(153)

$

(8,541)

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$

3,394

Interest expense (income), net

1

3,895

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206

12

4,114

Income taxes (benefit)

1,508

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2,536

595

(2,722)

1,917

Depreciation and amortization

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2,178

3,211

3,065

945

9,399

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Net earnings (loss) attributable to non-controlling interests

722

(75)

(35)

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612

Non-cash stock-based compensation

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868

868

(Gain) loss on foreign currency transactions and cost recovery income

(235)

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(428)

2

(661)

Loss on disposition of fixed assets

1

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10

1,054

25

1,090

Pre-opening expenses

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1,668

626

350

2,644

Advertisement

Adjusted EBITDA

$

8,061

$

19,522

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$

4,890

$

(9,096)

$

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23,377

CENTURY CASINOS, INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION
*  The impact of foreign exchange rates is highly variable and difficult to predict.  The Company uses a Constant Currency basis to show the impact from foreign exchange rates on current period financial information compared to prior period financial information using the prior period’s foreign exchange rates. In order to properly understand the underlying business trends and performance of the Company’s ongoing operations, management believes that investors may find it useful to consider the impact of excluding changes in foreign exchange rates from the Company’s net operating revenue, (loss) earnings from operations and net earnings (loss) attributable to Century Casinos, Inc. shareholders. Constant currency results are calculated by dividing the current quarter or year to date local currency segment results, excluding the local currency impact of foreign currency gains and losses, by the prior year’s average exchange rate for the quarter or year to date and comparing them to actual U.S. dollar results for the prior quarter or year to date. The average exchange rates for the current and prior year are reported in Note 2 to the Consolidated Financial Statements included in Part II, Item 8, “Financial Statements and Supplementary Data” of the Company’s Annual Report on Form 10-K. The average exchange rates for the three months ended December 31, 2019 and 2018 are presented below.

For the three months

ended December 31,

Average Rates

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2019

2018

% Change

Canadian dollar (CAD)

1.3199

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1.3218

0.1%

Euros (EUR)

0.9032

0.8763

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(3.1%)

Polish zloty (PLN)

3.8702

3.7668

(2.7%)

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British pound (GBP)

0.7766

0.7773

0.1%

Source: Pacific Exchange Rate Service

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Constant currency information is not a measure of financial performance under generally accepted accounting principles in the United States of America (GAAP) and should not be considered a substitute for net operating revenue, (loss) earnings from operations or net earnings (loss) attributable to Century Casinos, Inc. shareholders as determined in accordance with GAAP.

SOURCE Century Casinos, Inc.

Detroit casinos

Detroit Casinos Report $109.44M in April Revenue

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The three Detroit casinos reported $109.44 million in monthly aggregate revenue (AGR) for the month of April 2024, of which $107.87 million was generated from table games and slots, and $1.57 million from retail sports betting.

The April market shares were:

  • MGM, 46%
  • MotorCity, 30%
  • Hollywood Casino at Greektown, 24%

Monthly Table Games, Slot Revenue, and Taxes

The casinos’ revenue for table games and slots for the month of April 2024 decreased 1.6% when compared to the same month last year. April’s monthly revenue was 11.8% lower when compared to the previous month, March 2024. From Jan. 1 through April 30, the Detroit casinos’ table games and slots revenue decreased by 1.6% compared to the same period last year.

The casinos’ monthly gaming revenue results were mixed compared to April of last year:

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  • MGM, down 0.7% to $49.86 million
  • MotorCity, down 4.5% to $32.68 million
  • Hollywood Casino at Greektown, up 0.6% to $25.33 million

In April 2024, the three Detroit casinos paid $8.74 million in gaming taxes to the State of Michigan. They paid $8.88 million for the same month last year. The casinos also reported submitting $12.8 million in wagering taxes and development agreement payments to the City of Detroit in April.

Monthly Retail Sports Betting Revenue and Taxes

The three Detroit casinos reported $15.28 million in total retail sports betting handle, and total gross receipts were $1.57 million for the month of April. Retail sports betting qualified adjusted gross receipts (QAGR) were up by $1.5 million in April when compared to the same month last year. Compared to March 2024, April QAGR was down by 1.7%.

April QAGR by casino was:

  • MGM: $475,492
  • MotorCity: $516,812
  • Hollywood Casino at Greektown: $578,131

During April, the casinos paid $59,362 in gaming taxes to the state and reported submitting $72,554 in wagering taxes to the City of Detroit based on their retail sports betting revenue.

Fantasy Contests

For March 2024, fantasy contest operators reported total adjusted revenues of $494,162 and paid taxes of $41,510.

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Gambling in the USA

CogniPlay Launches New Social Casino Platform

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CogniPlay has today announced the official launch of their new software product, which aims to provide a robust online sweepstakes or social gaming platform to their clients.The system is designed to be modular, allowing customers to tailor their brand and offering to what they believe will give them optimal performance.

The rise of sweepstake casinos in the US is continuing to gather pace and many companies from real money gaming are investigating the business model and the potentially lucrative revenue opportunity. With no standout platform solution currently on the market, CogniPlay looks to serve clients a full white label style solution with every detail taken care of. Brands like Chumba and Pulsz are already seeing tremendous success and CogniPlay gives an extremely efficient route to market for potential new sweepstake casino owners.

The CogniPlay system has several key integrations which help to deliver the product, including games integrations with the likes of Pragmatic Play, BetSoft, Mascot Gaming and many more, giving them 100s of games for their clients. There are other integration options for their customers to pick from too, including affiliate programme software, CRM platforms and associated products, KYC, ID verification, Geo-IP systems, Gamification, and customer support.

They also have a very long and extensive development pipeline which will see the product offering develop at pace, giving clients an extensive list of options and USPs, and of course giving players a great user experience as a result.

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As well as the platform itself the CogniPlay team, due to their considerable experience, also offer a whole host of managed services, with almost a menu that clients can choose from to fill any gaps in their own skillsets or experience.

It is also this experience that CogniPlay hopes to utilise to great effect to provide industry-leading client management to build successful relationships and partnerships with their clients. CogniPlay’s Chief Executive Officer Allan Turner said, “We are very proud to take the CogniPlay product to market and are excited that people who want to start a new social or sweeps brand can get in touch with us to see what we can do for them, or in fact established brands that are unhappy with their existing provider.

Our underlying principles are that we want to provide the most flexible platform in the space, to enable our clients to create the product they want to have, not for us to dictate the product to them. The two other main areas of focus are that we want to be the most future-proof product on the market with plans for any regulatory or legal changes that may arise in the future, and that we have all the right safeguards in place to ensure that we look after both our clients and players with our responsible gaming setup.

This of course means having the right tech and processes in the key areas of KYC, Geo-IP tech, anti-money laundering, fraud, risk assessment and ID verification.”

 

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Gambling in the USA

XSOLLA RELEASES QUARTERLY ​ INSIGHTS REPORT ON THE FUTURE OF GAMING AND GAME DEVELOPMENT: A PRELIMINARY ANALYSIS OF SPRING 2024 METRICS AND UPCOMING TRENDS

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Key trends include the fast-growing mobile gaming segment, the impact of recent regulations, the integration of blockchain and AI, and the investments in equity and inclusion across the gaming industry.

Xsolla, a global video game commerce company, published the Spring 2024 edition of “The Xsolla Report: The State of Play” today. Launched on the heels of the Game Developers Conference (GDC) 2024, this extensive report provides invaluable insights into the emerging trends and pivotal shifts impacting the gaming industry in the short and long term. ​ It sets the stage to significantly shape the future of mobile gaming, deepen academic connections within the gaming ecosystem, and redefine investment patterns.

In an era where mobile gaming commanded a 49% share of the global market in 2023, this edition of “The State of Play” sheds light on the evolving landscape of mobile gaming. The report navigates through the advancements in global compliance and regulation, including the Digital Markets Act in Europe’s new player engagement strategies, offering a glimpse into the potential future of mobile gaming monetization and distribution. It discusses the impact of cross-platform play and the importance of innovative monetization models, providing actionable insights for developers and industry stakeholders.

“The State of Play” emphasizes the importance of academia in the growth and diversification of the gaming industry. It explores how educational programs and initiatives develop talent and promote diversity and inclusivity within the gaming community. This edition underlines the symbiotic relationship between the gaming industry and academic institutions, highlighting programs that significantly impact students and the industry.

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Berkley Egenes, Chief Marketing and Growth Officer at Xsolla, comments: “As we introduce the latest edition of ‘The State of Play,’ we’re not merely sharing industry insights but advocating for a transformative vision: Equal Access for Everyone. This initiative goes beyond our commitment to innovation and growth within the gaming industry. It’s about breaking down barriers to ensure that every developer, regardless of company size, has the opportunity to showcase their creativity and reach a global audience. Our focus is on providing platforms and tools that foster creative opportunities, international exposure, and the development of unique projects, ensuring that the future of gaming is accessible to all. We aim to empower every player and developer worldwide, ensuring the gaming landscape is as diverse and dynamic as its community.”

The report offers an in-depth analysis of the gaming industry’s current investment climate, including funding trends, mergers, and acquisitions. It outlines the shifts in investment patterns, from the heights of the pandemic-induced boom to a more measured approach in 2024. “The State of Play” provides a roadmap for navigating the industry’s financial aspects, offering insights into strategic investment opportunities and forecasting future trends.

Featuring expert commentary from industry voices like:

  • Mukul Aurora, Co-founder of Appsoleut Games;
  • Mariusz Gasiewski, CEO of Mobile Gaming and Apps Lead at Google;
  • Karla Reyes, Founder and Studio Director,

Anima Interactive, the Xsolla Report: The State of Play is now available for complimentary download. To secure your copy and gain invaluable insights into the gaming industry, visit our website.

 

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