Century Growth Jumps 49 per cent in Q4 NORTH AMERICA
Century Casinos reported revenues of $67.2m for its Q4, an increase of 49 per cent including Isle Casino Cape Girardeau and Lady Luck Caruthersville
With regards to COVID-19 the company said it has not had a significant impact on its US or Canadian markets, but Poland has weakened by around 10 per cent
CANADA CASINO OPERATIONS
US – In 2020, Sahara Las Vegas will change the look of Las Vegas Boulevard unveiling a fresh new Strip-facing façade including a fully renovated porte cochère and a new digital signage package. A distinctive water feature will serve as the centerpiece of the resort’s main entrance with lush foliage and a warm, earthy color palette welcoming guests as they enter the property. The water feature will include dynamic dancing fountains, a negative edge waterfall and integrated LED technology beneath a 24ft. colour-changing chandelier. Enhancements to the interior entrance include stone tiles with brass insets along with glass mosaic flowers, a detailed 20ft. chandelier with hand-blown glass and 10ft. brass entry doors..
In addition to new hotel lobby amenities, Sahara Las Vegas also dealt the first games in its all-new Poker Room in recent weeks. Boasting seven tables, a 16-foot by nine-foot LED video wall and five additional screens throughout the room along with round-the-clock food options provided by Northside Café, the room offers an extensive game chart including No Limit Texas Holdem, Limit Holdem, Pot Limit Omaha, 7-card Stud and various mix games along with daily tournaments. The Poker Room serves as a complement to the additional enhancements and expansion of the main casino floor last year which now features more than 60,000sq.ft. of newly updated casino space including 600 of the latest slot and video poker machines and 50 classic table games.
PENNSYLVANIA – Despite claims that it is creating ‘an untaxed tribal monopoly,’ the Washington Senate has approved an emergency bill allowing sports betting in Native American tribal casinos. Nevada-based Maverick Gaming, which recently bought 19 of the state’s 44 card rooms, said it will spend tens of millions of dollars to block the law. Maverick CEO Eric Persson said: “On behalf of our 2,200 employees and their families who live and work here in Washington State, we are profoundly disappointed that the State Senate has approved a tax-free monopoly for sports betting in Tribal casinos that is also tied to a manufactured ‘emergency’ to prevent a public vote.”
Senator Doug Ericksen, R-Whatcom also slammed the legislation. “This is a heck of a partnership,” he said. “I mean, the tribes get everything and the taxpayers get nothing on this partnership.”
Senator Karen Keiser, D-Des Moines said: “We are not looking at widespread commercial gaming throughout our community — which I really don’t think the people of Washington state want to see. That is why it is so wise for our state to take a very small step and work with our partners in the tribes who have shown their ability to contain problems.”
P24 NEWSWIRE / INTERACTIVE / MARKET DATA
Century Casinos reported revenues of $67.2m for its fourth quarter, an increase of 49 per cent following the inclusion of results from the Isle Casino Cape Girardeau and Lady Luck Caruthersville, both located in Missouri, and Mountaineer Casino in West Virginia, which were bought for $107m from Eldorado Resorts.
Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos, said: “In Q4, the big story for us was the completion of the largest transaction in the company's history. Te acquisition of three casino operations in Missouri and West Virginia from Eldorado Resorts gave us three quality assets in strong and stable gaming markets, each enjoying a leading regional position and each with a long track record of producing solid revenue and growing EBITDA.”
“Te acquired casinos have had very encouraging initial results, and we are excited to continue integrating the operations into the Century brand and to see anticipated meaningful growth from this acquisition on Century Casinos in the future. We are pleased with the fourth quarter results and the immediate impact the addition of the three casinos acquired from Eldorado Resorts had on our operating result,” he added.
In West Virginia, the newly acquired Mountaineer Casino, Racetrack and Resort
Merkur Gaming consolidates global sales activities
US
Germany’s Gauselmann Group has announced its intention to coordinate the management of all global sales activities from its Merkur Gaming headquarters in Lübbecke.
As a consequence of the restructuring, the German company headquarters will now be in charge of the administration of the sales activities in North and South America going forward. Tis has meant the letting go of some staff at the former head office in Miami who are not part of the sales or technical support teams.
contributed $8.7m in revenue and $1.3m in EBITDA. In Missouri, the casinos in Cape Girardeau and Caruthersville added $7.4m in revenue and $2.6m in EBITDA during a three- week span. In Canada, the Edmonton segment showed a 58 per cent revenue increase, due to the new addition of Century Mile Racetrack and Casino, whilst in the Calgary market, revenue was flat. Century’s operations in Poland saw revenue increase by 14 per cent, and EBITDA was up 48 per cent. Mr. Hoetzinger added: “Te Colorado segment had flat revenue and flat EBITDA, but we are very excited about sports betting going live in about two months. We have three sports betting licenses available and have already entered into one agreement with Circa Sports out of Las Vegas, two more agreements with betting companies are in the works.”
One casino not performing as well is the company’s UK property. Mr. Hoetzinger explained: “In December 2019, the company determined that the intangible and tangible assets at Century Casino Bath were impaired. Te impairment, which totalled $16.5m, was determined after evaluating losses incurred by the casino since operations began and future forecasts of continued losses due to the current regulatory environment in England. We recently entered into an exclusivity and confidentiality agreement with a potential buyer. We should know more in one or two months from now.”
Te restructuring measures will not affect the company-owned Sunshine Games development studio based in Las Vegas, which will continue to develop attractive games content for the Gauselmann Group.
Te Gauselmann Group generates around 60 per cent of its revenues in other European countries and beyond. Most of this business is achieved by its international sales and development brand Merkur Gaming.
In a statement from the company, Gauselmann Group added: “In order to consolidate and expand this success over the long term, the company needs to introduce stringent processes and synergies that will enable it to leverage the full potential of the sales force.”
North Carolina
Te Catawba Indian Nation has presented plans and renderings of the new destination casino planned for a site in Kings Mountain, North Carolina although the bid will be challenged by the Eastern Band of Cherokee Indians. As a result of the recent US Department of the Interior’s decision, land in Kings Mountain will be taken into trust so the Catawba Indian Nation can move forward with the proposed project. Te casino and mixed-use entertainment complex will cover 195,000 square feet. Te gaming area will consist of 75,128 square feet with approximately 1,796 electronic gaming machines and 54 table games.
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