Century Gaming Reports Soaring Earnings and Nevada Expansion

Century Gaming announced robust financial results for the recent quarter, achieving a 21% surge in earnings compared to the corresponding period last year. This remarkable performance positioned them as a leader within the gaming sector, surpassing rivals such as Bally’s, Caesars, MGM Resorts, Penn Entertainment, and Boyd Gaming.

The firm’s total operating earnings reached $111.1 million, fueled by the strategic purchase of the Nugget Casino Resort in Reno for $1.95 billion. Century’s earnings from operations experienced a 15% rise, reaching $20.8 million, while profit attributable to stockholders climbed by a substantial 29% to $8.9 million.

Although the company acknowledged the effects of the COVID-19 outbreak and associated limitations, particularly the temporary closure of its venues in Canada and Poland during the initial six months of 2021, they emphasized that presently, there are minimal COVID-related constraints affecting their business activities. Nevertheless, they did advise that the pandemic’s future course remains unpredictable.

Century Gaming has considerably increased its footprint in the Nevada gambling industry through the purchase of a majority interest in the Nugget Casino Resort located in Sparks. They currently hold ownership of fifty percent of Smooth Bourbon, the entity that possesses the resort’s property, and have completely acquired Nugget Sparks LLC, the operator of the casino’s business. This transaction was facilitated by a sizable loan from Goldman Sachs, furnishing Century with the financial means to finalize the acquisition and potentially allocate additional resources to the property.