Century Casino witnessed a minor decline in their third-quarter profits compared to their exceptional performance in 2021. Their total operating income reached $112.6 million, indicating a 4% drop. Modified EBITDA also experienced a decrease, reaching $28.1 million, signifying a 15% year-over-year reduction.
This anticipated variation was linked to the unprecedented triumph they achieved in 2021 when pandemic limitations eased in Missouri. Furthermore, price increases and unanticipated expenses associated with their Caruthersville riverboat venture due to shallow water levels in the Mississippi River contributed to the situation.
Despite this small obstacle, Century Casino maintains a positive outlook. They recently purchased the Rocky Gap Casino Resort in August for $56.1 million, further strengthening their position in the industry.
During their third-fiscal-quarter earnings conference, Hetzmann and Hoetzinger spoke on the transaction, stating, “As declared in August, we’ve finalized an agreement to purchase the Rocky Gap Casino Resort business. We’re enthusiastic about joining the Maryland gaming landscape and including this establishment in our expanding U.S. holdings.”
