Century Casinos, Inc. recently reported its second quarter earnings, which were boosted by the acquisition of a casino in Colorado. The company reported a net income of $2.3 million, a significant increase from the $1.1 million reported in the same quarter last year. This increase was largely due to the acquisition of the Colorado casino, which added $1.3 million to the company’s revenue.
The acquisition of the Colorado casino was part of Century Casinos’ strategy to expand its presence in the United States. The casino is located in Black Hawk, Colorado and is expected to generate additional revenue for the company in the future. The acquisition also provides Century Casinos with a foothold in the lucrative Colorado gaming market, which is estimated to be worth over $1 billion annually.
In addition to the acquisition, Century Casinos also reported strong growth in its other operations. The company reported an increase in revenue from its casinos in Canada, Poland, and other international locations. This growth was driven by increased customer traffic and higher average spend per customer. The company also reported an increase in its gaming machine sales, which rose by 8.5% compared to the same quarter last year.
Century Casinos’ CEO Peter Hoetzinger commented on the company’s strong second quarter performance, saying “We are pleased with our second quarter results, which were driven by our acquisition of the Colorado casino and strong growth in our other operations. We remain focused on expanding our presence in the United States and other international markets, and we are confident that our continued investments in our operations will result in further growth and profitability.”
Overall, Century Casinos’ second quarter earnings were boosted by the acquisition of the Colorado casino and strong growth in its other operations. The company is well-positioned to capitalize on the lucrative gaming markets in the United States and other international locations, and its continued investments should lead to further growth and profitability.