Century Casinos Posts Mixed Q4 Results

Century Casinos Inc CNTY reported fourth-quarter FY21 sales growth of 26.5% year-on-year, to $107.30 million, beating the consensus of $103.88 million.
Revenue in the U.S. rose 17% Y/Y to $68.3 million, Canada gained 29% to $16.4 million, and Poland climbed 67% to $22.5 million.
The operating costs and expenses for the quarter increased 37.6% Y/Y to $90.8 million.
The operating margin was 15.3%, and operating income for the quarter fell 12% to $16.4 million.
The company held $107.8 million in cash and equivalents as of December 31, 2021.
Adjusted EBITDA increased 36% Y/Y to $24.9 million.
EPS of $0.13 missed the consensus of $0.21.
The company plans to relocate its Century Casino Caruthersville casino, currently the last remaining riverboat on open water in Missouri, to a land-based casino in early 2024.
Price Action: CNTY shares closed lower by 4.97% at $11.09 on Monday.

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