Century Casinos has published its financial results for the three and nine months ended September 30, 2019, revealing Q3 net operating revenue of $52.9m, ahead 22% year-on-year with earnings from operations ahead by 8% to $3.5m. 

Adjusted EBITDA came in at $7.1m, up by 12% from the three months ended September 30, 2018. The company’s net operating revenue increased by $9.4m, or 22%, and by $27.2m, or 22%, for the three and nine months ended September 30, 2019, compared to the three and nine months ended September 30, 2018.

Updating investors, the firm noted it had entered into a definitive agreement to acquire the operations of Isle Casino Cape Girardeau, Lady Luck Caruthersville and Mountaineer Casino, Racetrack and Resort from Eldorado Resorts for approximately $107m, which it expects to finance through a new credit facility. 

In a joint statement Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers, said: “Operations at Century Mile continue to ramp up and we are pleased with the revenue generated at the property, which is in line with our expectations. We continue to analyze the cost structure, staffing levels and efficiencies of Century Mile to achieve the margins we expect, which is normal during the first phase of operations

“We look forward to closing the Eldorado Acquisition and see some short-term low-cost measures that we can implement to improve performance.”