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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Century Casinos, Inc.    CNTY

CENTURY CASINOS, INC. (CNTY)
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Century Casinos : reaches Important Milestones at Century Mile and brings Chuckwagon Finals to Century Downs

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11/05/2018 | 06:33am EST

Colorado Springs, Colorado - Century Casinos, Inc. (NASDAQ Capital Market: CNTY) announced today that important milestones have been reached towards the opening of Century Mile Racetrack and Casino in South Edmonton, Alberta, Canada.

At Century Mile Racetrack and Casino, thoroughbred race horses took to the just completed racetrack for the first time on October 26, 2018, when they galloped a full test lap of the one-mile oval. Up to 800 thoroughbred race horses will go through their daily training regimen when the stable area and racetrack will open for training in spring of 2019. The casino and the racetrack at Century Mile are scheduled for opening in April of 2019.

Further, the Company and the Alberta Horsemen's Benevolent and Protective Association, representing the owners of thoroughbred race horses, signed an important long-term agreement, covering the use of the racing, training and stabling facilities at Century Downs and Century Mile as well as sharing of revenues. This agreement will be furthering horse racing in Alberta by providing continuity and sustainability. The formal signing of the agreement took place before press and horse racing industry members on the second floor of the new Century Mile Racetrack and Casino building.

We are also very excited to announce that Century Downs Racetrack and Casino in North Calgary will be the host of the WPCA World Chuckwagon Racing Finals from August 21-25 of next year. Chuckwagon racing fans will have the opportunity to see the horses up close and experience the action with high profile Chuckwagon Racing stars. This five-day championship event will feature the world's premiere chuckwagon drivers, outriders and horses and is expected to draw huge crowds to our property.

About Century Casinos, Inc.:

Century Casinos, Inc. is an international casino entertainment company that operates worldwide. The Company owns and operates Century Casino & Hotels in Cripple Creek and Central City, Colorado, and in Edmonton, Alberta, Canada and the Century Casino in Calgary and St. Albert, Alberta, Canada and in Bath, England. Through its Austrian subsidiary, Century Resorts Management GmbH ('CRM'), formerly Century Casinos Europe GmbH, the Company holds a 66.6% ownership interest in Casinos Poland Ltd., the owner of eight casino licenses throughout Poland, seven of which are operating. The Company, through CRM, also holds 75% ownership interests in both Century Downs Racetrack and Casino, which operates in the north metropolitan area of Calgary, Alberta, Canada; Century Bets! Inc., which operates the pari-mutuel off-track horse betting network in southern Alberta, Canada; and a 51% ownership interest in Golden Hospitality Ltd., a company that manages a hotel and international entertainment and gaming club in Vietnam. The Company operates 11 ship-based casinos under agreements with three cruise ship owners. The Company, through CRM, also owns a 7.5% interest in, and provides consulting services to, Mendoza Central Entretenimientos S.A., a company that provides gaming-related services to Casino de Mendoza in Mendoza, Argentina. The Company is also developing Century Mile Racetrack and Casino in Edmonton, Alberta, Canada. The Company continues to pursue other international projects in various stages of development.

Century Casinos' common stock trades on The Nasdaq Capital Market under the symbol CNTY. For more information about Century Casinos, visit our website at www.cnty.com.

This release may contain 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and assumptions of the management of Century Casinos based on information currently available to management. Such forward-looking statements include, but are not limited to, statements regarding future results of operations, operating efficiencies, synergies and operational performance, the prospects for and timing and costs of new projects, projects in development and other opportunities, including the Century Mile, Bermuda and Vietnam projects, debt repayment, investments in joint ventures, outcomes of legal proceedings, changes in our tax provisions or exposure to additional income tax liabilities, and plans for our casinos and our Company. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from the forward-looking statements include, among others, the risks described in the section entitled 'Risk Factors' under Item 1A in our Annual Report on Form 10-K for the year ended December 31, 2017 and in subsequent periodic and current SEC filings we may make. Century Casinos disclaims any obligation to revise or update any forward-looking statement that may be made from time to time by it or on its behalf.

(C) 2018 Electronic News Publishing, source ENP Newswire

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Financials ($)
Sales 2018 166 M
EBIT 2018 12,0 M
Net income 2018 4,82 M
Debt 2018 -
Yield 2018 -
P/E ratio 2018 50,00
P/E ratio 2019 16,94
Capi. / Sales 2018 1,37x
Capi. / Sales 2019 1,19x
Capitalization 228 M
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Number of Analysts 4
Average target price 11,7 $
Spread / Average Target 51%
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NameTitle
Erwin Haitzmann Chairman & Co-Chief Executive Officer
Peter Hoetzinger Vice Chairman, President & Co-CEO
Andreas Terler Chief Information Officer & VP-Operations
Nikolaus Strohriegel VP-Operations & Managing Director-CRM
Margaret M. Stapleton Chief Financial Officer, Secretary, CAO & EVP
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