Century Casinos Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Century Casinos Inc. filed its Q1 2024 10-Q, detailing financial performance across its segments and key assets.</b>

AI Summary

CENTURY CASINOS INC /CO/ (CNTY) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. Century Casinos Inc. filed a 10-Q report for the period ending March 31, 2024. The filing includes financial data for various segments including Gaming, Food & Beverage, Hotel, Pari-Mutuel & Sports Betting & iGaming, and Other. Key assets mentioned include Customer Lists, Trademarks, Casino Licenses, Rocky Gap Casino Resort, and Nugget Sparks LLC. The company's financial structure includes Retained Earnings, Noncontrolling Interest, Common Stock, Additional Paid-In Capital, and Accumulated Other Comprehensive Income. The filing references a portfolio member, Century Canadian Portfolio, with a related entity Vici Properties.

Why It Matters

For investors and stakeholders tracking CENTURY CASINOS INC /CO/, this filing contains several important signals. This 10-Q provides investors with the latest quarterly financial snapshot of Century Casinos, crucial for understanding operational performance and financial health. The detailed segment information allows for analysis of revenue drivers and profitability across different geographical regions and business lines.

Risk Assessment

Risk Level: medium — CENTURY CASINOS INC /CO/ shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q), which typically contains routine financial information. However, the absence of specific financial performance metrics in the provided text prevents a deeper risk assessment.

Analyst Insight

Review the full 10-Q filing to analyze specific revenue and net income figures for Q1 2024 to assess the company's financial performance and identify any significant trends or deviations from previous periods.

Revenue Breakdown

Key Numbers

• 2024-03-31 — Period End Date (Conformed Period of Report)
• 2024-05-09 — Filing Date (Filed as of date)
• 2023-12-31 — Previous Year End Date (Retained Earnings reference)
• 2023-03-31 — Prior Year Quarter End Date (Retained Earnings reference)

Key Players & Entities

• CENTURY CASINOS INC /CO/ (company) — Filer name
• 0000911147 (company) — Central Index Key
• 2024-03-31 (date) — Conformed Period of Report
• 2024-05-09 (date) — Filed as of date
• Rocky Gap Casino Resort (company) — Asset mentioned
• Nugget Sparks LLC (company) — Asset mentioned
• Vici Properties (company) — Related entity
• Century Canadian Portfolio (company) — Portfolio member

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 Per Share Par Value CNTY Nasdaq Cap

Filing Documents

• cnty-20240331x10q.htm (10-Q) — 5211KB
• cnty-20240331xex31_1.htm (EX-31.1) — 16KB
• cnty-20240331xex31_2.htm (EX-31.2) — 11KB
• cnty-20240331xex31_3.htm (EX-31.3) — 11KB
• cnty-20240331xex32_1.htm (EX-32.1) — 8KB
• cnty-20240331xex32_2.htm (EX-32.2) — 8KB
• cnty-20240331xex32_3.htm (EX-32.3) — 8KB
• 0000911147-24-000043.txt (&nbsp;) — 18267KB
• cnty-20240331.xsd (EX-101.SCH) — 67KB
• cnty-20240331_cal.xml (EX-101.CAL) — 105KB
• cnty-20240331_def.xml (EX-101.DEF) — 299KB
• cnty-20240331_lab.xml (EX-101.LAB) — 523KB
• cnty-20240331_pre.xml (EX-101.PRE) — 527KB
• cnty-20240331x10q_htm.xml (XML) — 4394KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 31 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 46 Item 4.

Controls and Procedures

Controls and Procedures 46 Part II OTHER INFORMATION Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 47 Item 5. Other Information 47 Item 6. Exhibits 47

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Item 1 . CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) CENTURY CASINOS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) March 31, December 31, Amounts in thousands, except for share and per share information 2024 2023 ASSETS Current Assets: Cash and cash equivalents $ 136,543 $ 171,327 Receivables, net 15,679 18,253 Prepaid expenses 18,235 11,859 Inventories 4,613 4,652 Other current assets 1,005 926 Total Current Assets 176,075 207,017 Property and equipment, net 917,695 913,561 Leased right-of-use assets, net 24,767 25,973 Goodwill 80,356 80,583 Intangible assets, net 91,806 93,207 Deferred income taxes 42,412 37,646 Note receivable, net of current portion and unamortized discount 316 316 Deposits and other 2,065 1,359 Total Assets $ 1,335,492 $ 1,359,662 LIABILITIES AND EQUITY Current Liabilities: Current portion of long-term debt $ 4,937 $ 8,468 Current portion of operating lease liabilities 3,411 3,395 Current portion of finance lease liabilities 194 199 Accounts payable 14,203 15,279 Accrued liabilities 38,887 29,056 Accrued payroll 14,696 16,221 Taxes payable 8,962 21,001 Total Current Liabilities 85,290 93,619 Long-term debt, net of current portion and deferred financing costs (Note 5) 323,611 324,212 Long-term financing obligation to VICI Properties, Inc. subsidiaries (Note 6) 654,763 658,007 Operating lease liabilities, net of current portion 24,701 25,834 Finance lease liabilities, net of current portion 371 427 Taxes payable and other 47,636 41,758 Deferred income taxes 171 1,364 Total Liabilities 1,136,543 1,145,221 Commitments and Contingencies (Note 7) Equity: Preferred stock; $ 0.01 par value; 20,000,000 shares authorized; no shares issued or outstanding — — Common stock; $ 0.01 par value; 50,000,000

View Full Filing

View this 10-Q filing on SEC EDGAR