Century Casinos Inc (CNTY) Q3 2024 Earnings Call Highlights: Navigating Challenges with ...

GuruFocus.com11-05

Net Revenue: $156 million, a decrease of 3% compared to Q3 of last year. Adjusted EBITDAR: $32.9 million, down 1%. Consolidated EBITDAR Margin: Increased from 20.6% to 21.1%. East Segment Revenue: Up ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2481523542?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/k2Jd2UYGShPLzUnkiEj9OQ--~B/aD0xNDc7dz0yMjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/us.finance.gurufocus/c7bed512e878f31f85e5c44ddcc68f4e","is_english":true,"pubTime":"2024-11-05 15:04","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2481523542","market":"us","top_or_hot":-1,"title":"Century Casinos Inc (CNTY) Q3 2024 Earnings Call Highlights: Navigating Challenges with ...","media":"GuruFocus.com","content":"<div>\n<p>Net Revenue: $156 million, a decrease of 3% compared to Q3 of last year.\nAdjusted EBITDAR: $32.9 million, down 1%.\nConsolidated EBITDAR Margin: Increased from 20.6% to 21.1%.\nEast Segment Revenue: Up ...</p>\n\n<a href=\"https://finance.yahoo.com/news/century-casinos-inc-cnty-q3-070441793.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Century Casinos Inc (CNTY) Q3 2024 Earnings Call Highlights: Navigating Challenges with ...</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCentury Casinos Inc (CNTY) Q3 2024 Earnings Call Highlights: Navigating Challenges with ...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-05 15:04 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/century-casinos-inc-cnty-q3-070441793.html><strong>GuruFocus.com</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Net Revenue: $156 million, a decrease of 3% compared to Q3 of last year.\nAdjusted EBITDAR: $32.9 million, down 1%.\nConsolidated EBITDAR Margin: Increased from 20.6% to 21.1%.\nEast Segment Revenue: Up ...</p>\n\n<a href=\"https://finance.yahoo.com/news/century-casinos-inc-cnty-q3-070441793.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CNTY","symbol_name":"世纪赌场","start_time":0,"source_url":"https://finance.yahoo.com/news/century-casinos-inc-cnty-q3-070441793.html","article_id":"2481523542","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/k2Jd2UYGShPLzUnkiEj9OQ--~B/aD0xNDc7dz0yMjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/us.finance.gurufocus/c7bed512e878f31f85e5c44ddcc68f4e"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481523542","pubTimestamp":1730790281,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Net Revenue: $156 million, a decrease of 3% compared to Q3 of last year.Consolidated EBITDAR Margin: Increased from 20.6% to 21.1%.West Segment Revenue: Sequentially up 40% compared to Q2.CapEx for 2024: Expected to be around $38 million.GuruFocus has detected 6 Warning Signs with CNTY.For the complete transcript of the earnings call, please refer to the full earnings call transcript.Century Casinos Inc  reported a consolidated EBITDAR margin increase from 20.6% to 21.1%, indicating improved operational efficiency.The new land-based casino and hotel in Carville, Missouri, opened with a record-setting weekend, showing strong initial performance and potential for future growth.The Nugget Casino Resort in Reno showed significant sequential growth, with revenue up 40% and EBITDAR doubling compared to Q2.The company has a strong liquidity position with $119 million in cash and no debt maturities until 2029, providing financial stability and flexibility.The Nugget Casino Resort faced a decli","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"CNTY":"世纪赌场"},"translate_title":"Century Casinos Inc(CNTY)2024年第三季度收益看涨期权亮点：应对挑战...","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CNTY":1},"content_text":"Net Revenue: $156 million, a decrease of 3% compared to Q3 of last year.\nAdjusted EBITDAR: $32.9 million, down 1%.\nConsolidated EBITDAR Margin: Increased from 20.6% to 21.1%.\nEast Segment Revenue: Up 7%.\nEast Segment EBITDAR: Up 5%.\nMidwest Segment Revenue: Essentially flat.\nMidwest Segment EBITDAR: Down 5%.\nWest Segment Revenue: Sequentially up 40% compared to Q2.\nWest Segment EBITDAR: Doubled compared to Q2.\nCash and Cash Equivalents: $119 million.\nOutstanding Debt: $340 million.\nNet Debt: $221 million.\nTraditional Net Leverage: 4.7 times.\nAdjusted Net Leverage: 6.6 times.\nCapEx for 2024: Expected to be around $38 million.\nCapEx for 2025: Expected to decrease to about $16 million.\n\n\nWarning! GuruFocus has detected 6 Warning Signs with CNTY.\n\nRelease Date: November 04, 2024\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.\n Positive Points \n\nCentury Casinos Inc (NASDAQ:CNTY) reported a consolidated EBITDAR margin increase from 20.6% to 21.1%, indicating improved operational efficiency.\nThe reopening of a key casino in Poland is expected to restore the region to a normal EBITDAR run rate of $10 million to $12 million annually.\nThe new land-based casino and hotel in Carville, Missouri, opened with a record-setting weekend, showing strong initial performance and potential for future growth.\nThe Nugget Casino Resort in Reno showed significant sequential growth, with revenue up 40% and EBITDAR doubling compared to Q2.\nThe company has a strong liquidity position with $119 million in cash and no debt maturities until 2029, providing financial stability and flexibility.\n\n Negative Points \n\nNet revenue decreased by 3% compared to Q3 of last year, primarily due to the temporary closure of a casino in Poland.\nNon-rated play was down across the portfolio, attributed to macroeconomic factors and consumer wallet softness.\nThe Midwest segment experienced a 5% decline in EBITDAR, impacted by disruptions from the development of the new facility in Carville.\nThe Nugget Casino Resort faced a decline in hotel and F&B revenue due to fewer group room nights, affecting overall performance.\nThe Canadian segment saw a decrease in net operating revenue, particularly at the Century Downs casino, due to increased competition and the absence of a large event.\n\n Q & A Highlights \nQ: Can you provide an update on the status of the casino licenses in Poland? A: Peter Hoetzinger, President and Co-CEO, explained that some licenses expired because the officials did not start the relicensing process in time. However, the important licenses that generate significant revenue have been granted again, including the one in Roslov, which reopened 10 days ago. Two smaller licenses were not relicensed, but this does not have a meaningful impact on EBITDAR. Poland is back to normal operations with an expected annual EBITDAR of $10 million to $12 million.\nQ: Does the lack of relicensing for two properties in Poland affect your plans to sell those properties? A: Peter Hoetzinger stated that the fluctuation in licenses is normal and does not change their plans to sell the properties. The core operations are intact, and there is no change in interest from investors due to the small licenses.\nQ: Can you provide more details on the performance of the Nugget Casino in Reno during Q3 and into October? A: Erwin Haitzmann, Chairman and Co-CEO, noted that the negative impact was mainly from July, with August and September showing strong improvements. The trend continued into October, and they are optimistic about the future. They are focusing on operational efficiencies and increasing group business, although group bookings are planned years in advance.\nQ: What drove the revenue decline in your Canadian assets, and do you expect a similar consumer trend as seen in the US markets? A: Erwin Haitzmann explained that the decline was mainly due to the Century Downs casino, which saw a $1 million decrease in net operating revenue. This was partly due to not hosting the Chuckwagon racing event and increased competition from a nearby casino. However, market shares have stabilized, and they expect a positive trend moving forward.\nQ: Regarding the illustrative guidance for 2025, how should we think about the EBITDAR growth from 2024 to 2025? A: Peter Hoetzinger mentioned that the growth will primarily come from the Crothersville opening, Cape Girardeau ramp, and Reno improvements. The full potential on the EBITDAR line will likely be realized more in the second half of 2025, starting from the second quarter.\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.This article first appeared on \nGuruFocus.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2481523542"}