NASDAQ$CNTY
Century Casinos Inc · Q1 2020 earnings
Q1 2020 earnings · · Investor relations
Briefing
Century Casinos' financial performance was impacted by the acquisition of new casinos and the COVID-19 pandemic.
Century Casinos reported a significant increase in net operating revenue, driven by the acquisition of new casinos. However, the COVID-19 pandemic and associated closures led to a substantial loss from operations and a net loss attributable to shareholders, including a $33.0 million impairment charge. Despite these challenges, Adjusted EBITDA increased, reflecting the underlying strength of the operations prior to the pandemic.
- Net operating revenue increased by 92% to $87.7 million, driven by recent acquisitions.
- Loss from operations was ($31.8) million, a decrease of (1022%) compared to the previous year.
- Net loss attributable to shareholders was ($45.9) million, a decrease of (4394%) year-over-year.
- Adjusted EBITDA increased by 44% to $9.6 million.
Headline financials
Revenue & EPS history
Century Casinos · Revenue · Quarterly
$87.7M
Forward guidance
The COVID-19 pandemic is expected to continue to have an adverse impact on the Company's second quarter 2020 results. The Company anticipates a phased approach to reopening will be recommended by government officials, and is anticipating reopening most of its locations beginning in June 2020 and no later than August 2020.
Tailwinds
- The Company's casinos rely on a local customer base, enabling a quicker resumption of operations.
- Poland casinos reopened on May 18, 2020.
- Most other locations are anticipated to reopen beginning in June 2020 and no later than August 2020.
- Actions have been taken to reduce operating costs, including furloughing personnel and implementing reduced work weeks.
- The Company will continue to pay benefits to United States and Canadian employees through May 2020.
Headwinds
- The COVID-19 pandemic has had an adverse effect on the Company’s first quarter 2020 results of operations and financial condition.
- The Company anticipates a phased approach to reopening will be recommended by government officials, which could include reduced levels of gaming space and social distancing.
- The Company permanently closed Century Casino Bath in March 2020.
- Four of the ship-based casinos will not reopen due to expiration of concession agreements.
- The Company currently is not generating any revenue from its properties, and estimates that the net cash outflow will be, on average, approximately $8.0 million per month.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2020
+0.9%
Avg return
Earnings day
-0.5%
Avg return
5 days after
+1.2%
Avg return
30 days after
54%
34 / 63 earnings
Positive
+32.7%
Q4 2020
Best reaction
-42.7%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.0% | -2.8% | -1.4% | |
| Q4 2025 | -7.7% | -8.3% | +3.4% | |
| Q3 2025 | -6.5% | -11.6% | -21.5% | |
| Q1 2025 | +2.9% | +10.2% | +24.3% | |
| Q4 2024 | -21.4% | -21.0% | -42.4% | |
| Q3 2024 | +19.9% | +38.7% | +23.6% | |
| Q2 2024 | -1.3% | -13.6% | +3.4% | |
| Q1 2024 | -1.9% | -5.7% | -17.5% | |
| Q4 2023 | +1.6% | -10.4% | +2.5% | |
| Q3 2023 | -1.1% | +4.6% | -4.0% | |
| Q2 2023 | -7.2% | -10.6% | -28.0% | |
| Q1 2023 | -2.7% | -6.8% | +5.9% | |
| Q4 2022 | -13.8% | -12.4% | -16.1% | |
| Q3 2022 | -4.4% | +0.3% | -0.1% | |
| Q2 2022 | -5.1% | -4.2% | -14.3% | |
| Q1 2022 | -16.8% | -23.8% | -13.6% | |
| Q4 2021 | +2.0% | +1.6% | +1.7% | |
| Q3 2021 | +12.6% | +8.9% | -3.6% | |
| Q2 2021 | +15.9% | +21.7% | +14.8% | |
| Q1 2021 | +13.9% | +13.4% | +15.2% | |
| Q4 2020 | +32.7% | +23.2% | +20.6% | |
| Q3 2020 | +9.0% | -0.9% | +30.6% | |
| Q2 2020 | +8.5% | +21.0% | +42.5% | |
| Q1 2020 | +23.5% | +18.4% | +17.7% | |
| Q4 2019 | -42.7% | -67.5% | -12.0% | |
| Q3 2019 | -1.1% | -2.7% | +0.3% | |
| Q2 2019 | -4.6% | -4.3% | -10.0% | |
| Q1 2019 | +0.0% | +0.2% | -0.8% | |
| Q4 2018 | +5.5% | +8.1% | +10.6% | |
| Q3 2018 | +10.7% | +11.3% | +8.8% | |
| Q2 2018 | +1.1% | -4.2% | -1.0% | |
| Q1 2018 | +6.8% | +9.2% | +9.3% | |
| Q4 2017 | -1.4% | -6.4% | -11.8% | |
| Q3 2017 | +3.8% | +4.4% | +0.0% | |
| Q2 2017 | -5.2% | -4.2% | -4.7% | |
| Q1 2017 | +1.5% | -0.3% | -6.9% | |
| Q4 2016 | +9.7% | +10.5% | +8.7% | |
| Q3 2016 | -2.7% | -0.9% | +9.6% | |
| Q2 2016 | +0.2% | -1.9% | +1.6% | |
| Q1 2016 | +9.8% | — | — | |
| Q4 2015 | -10.2% | — | — | |
| Q3 2015 | +1.2% | — | — | |
| Q2 2015 | +7.9% | — | — | |
| Q1 2015 | +2.0% | — | — | |
| Q4 2014 | +5.0% | — | — | |
| Q3 2014 | -2.7% | — | — | |
| Q2 2014 | -3.1% | — | — | |
| Q1 2014 | -0.7% | — | — | |
| Q4 2013 | +5.9% | — | — | |
| Q3 2013 | -17.9% | — | — | |
| Q2 2013 | +15.0% | — | — | |
| Q1 2013 | +4.7% | — | — | |
| Q4 2012 | +0.2% | — | — | |
| Q3 2012 | -9.4% | — | — | |
| Q2 2012 | -5.4% | — | — | |
| Q1 2011 | -0.3% | — | — | |
| Q1 2012 | +0.3% | — | — | |
| Q4 2011 | -6.2% | — | — | |
| Q3 2011 | +7.0% | — | — | |
| Q3 2010 | +7.0% | — | — | |
| Q2 2011 | +8.2% | — | — | |
| Q2 2010 | +8.2% | — | — | |
| Q1 2010 | -2.1% | — | — |
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