In the highly competitive world of the gambling industry, Century Casinos has proven once again that it is a force to be reckoned with. Despite facing what the company’s CEO described as a “challenging” first quarter of 2021, Century Casinos has managed to weather the storm and come out on top.
The company, which operates casinos in the United States, Canada, and Europe, reported a net operating revenue of $87.6 million for the first quarter of 2021, a 5% decrease from the same period last year. However, despite the drop in revenue, Century Casinos managed to post a net income of $1.5 million for the quarter, compared to a net loss of $13.2 million in the first quarter of 2020.
The CEO of Century Casinos, Peter Hoetzinger, attributed the company’s resilience to its diverse portfolio of properties and its ability to adapt to changing market conditions. “We have been able to navigate the challenges of the past year by focusing on our strengths and leveraging our proven track record of success,” he said in a statement.
One bright spot for Century Casinos in the first quarter was its online gaming and sports betting operations, which saw a significant increase in revenue compared to the same period last year. The company’s joint venture with bet365 in Colorado and its online gaming platform in West Virginia both saw strong growth, providing a much-needed boost to the company’s bottom line.
Looking ahead, Century Casinos is optimistic about the future and has several exciting projects in the works. The company recently announced plans to expand its casino in Central City, Colorado, with a new hotel and conference center, as well as a new bar and restaurant. In addition, Century Casinos is also exploring opportunities to enter new markets and expand its online gaming presence.
Despite the challenges of the past year, Century Casinos has proven that it is a resilient and adaptable company with a strong foundation for future growth. With a diverse portfolio of properties, a successful online gaming platform, and a commitment to innovation, Century Casinos is well positioned to continue its success in the increasingly competitive world of the gambling industry.
