Century Casinos reversed a $58.5 million loss in the first half of last year to a $5.44 million profit during the same period this year, even though its Canadian and Polish casinos remained closed for much of the six-month period.
That's because casinos operated by the Colorado Springs-based company in Colorado, Missouri and West Virginia remained open and benefited from most COVID-19 pandemic restrictions ending. The rebound came as revenue jumped 33% to $164.6 million. Pandemic restrictions closed all of Century's casinos for three months in 2020. Century's Canadian and Polish operations reopened in recent weeks after closing in December.
Earnings for the second quarter rebounded from a $12.6 million, or 43 cents a share, loss last year to a $6.86 million profit, or 23 cents a share, this year. Revenue for the period more than doubled to $92.2 million. Both the revenue and profits beat estimates from the three analysts who follow Century's stock by a wide margin.
Wayne Heilman, The Gazette