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Century Casinos, Inc. Announces Fourth Quarter 2018 Results

Published

5 years ago

on

Century Casinos, Inc. Announces Fourth Quarter 2018 ResultsReading Time: 14 minutes

 

Century Casinos, Inc. today announced its financial results for the three months and year ended December 31, 2018.

Fourth Quarter 2018 Highlights*

  • Net operating revenue was $45.1 million, an increase of 15% from the three months ended December 31, 2017.
  • Earnings from operations were $2.0 million, an increase of 16% from the three months ended December 31, 2017.
  • Net earnings attributable to Century Casinos, Inc. shareholders were $0.5 million, an increase of 110% from the three months ended December 31, 2017.
  • Adjusted EBITDA** was $5.8 million, an increase of 7% from the three months ended December 31, 2017.
  • Basic and diluted earnings per share were $0.02, an increase of 110% from the three months ended December 31, 2017.

2018 Highlights*

  • Net operating revenue was $168.9 million, an increase of 10% from the year ended December 31, 2017.
  • Earnings from operations were $9.5 million, a decrease of 35% from the year ended December 31, 2017.
  • Net earnings attributable to Century Casinos, Inc. shareholders were $3.4 million, a decrease of 46% from the year ended December 31, 2017.
  • Adjusted EBITDA** was $23.4 million, a decrease of 10% from the year ended December 31, 2017.
  • Basic earnings per share were $0.12, a decrease of 52% from the year ended December 31, 2017.
  • Diluted earnings per share were $0.11, a decrease of 54% from the year ended December 31, 2017.
  • Book value per share*** at December 31, 2018 was $6.00.

The consolidated results for the three months and year ended December 31, 2018 and 2017 are as follows:









































Amounts in thousands, except per share data

For the three months

ended December 31,

For the year

ended December 31,

Consolidated Results:



2018



2017

% Change





2018



2017

% Change

Net Operating Revenue

$

45,106

$

39,293

15%



$

168,938

$

154,069

10%

Earnings from Operations



1,976



1,706

16%





9,459



14,615

(35%)

Net Earnings (Loss) Attributable to Century Casinos, Inc. Shareholders

$

506

$

(5,334)

110%



$

3,394

$

6,259

(46%)




































Adjusted EBITDA**

$

5,801

$

5,408

7%



$

23,377

$

26,086

(10%)




































Earnings (Loss) Per Share:

































Basic

$

0.02

$

(0.20)

110%



$

0.12

$

0.25

(52%)

Diluted

$

0.02

$

(0.19)

111%



$

0.11

$

0.24

(54%)

The Tax Cuts and Jobs Act (the “Tax Act”), enacted on December 22, 2017, increased the Company’s income tax expense by $5.4 million during the fourth quarter of 2017 due to the tax law changes that were effective for the 2017 tax year. The increased income tax expense increased net loss attributable to Century Casinos, Inc. shareholders for the fourth quarter of 2017 and decreased net earnings attributable to Century Casinos, Inc. shareholders for the year ended December 31, 2017. See Note 11 to the Company’s Consolidated Financial Statements included in Part II, Item 8, “Financial Statements and Supplementary Data”, of the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 for a discussion of the impact of the Tax Act.

“This quarter we continued to see revenue growth in each of our segments and ended the year growing revenue by 10%. We are pleased with this growth, especially with the longer-than-expected casino closures in Poland due to licensing delays, which we estimate negatively impacted net operating revenue by $9.8 million,” Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos remarked. “We are excited for the upcoming year with the opening of Century Mile Racetrack and Casino on April 1st and a Grand Opening celebration planned for April 28th, the first day of live horse racing,” Messrs. Haitzmann and Hoetzinger concluded.

Reportable Segment Results*

The table below shows the Company’s operating segments that are included in each of the Company’s reportable segments as of December 31, 2018:

Reportable Segment

Operating Segment

Canada

Century Casino & Hotel – Edmonton

Canada

Century Casino St. Albert

Canada

Century Casino Calgary

Canada

Century Downs Racetrack and Casino

Canada

Century Bets!

Canada

Century Mile Racetrack and Casino

United States

Century Casino & Hotel – Central City

United States

Century Casino & Hotel – Cripple Creek

Poland

Casinos Poland

Corporate and Other

Cruise Ships & Other

Corporate and Other

Century Casino Bath

Corporate and Other

Corporate Other

The Company’s net operating revenue increased by $5.8 million, or 15%, and by $14.9 million, or 10%, for the three months and year ended December 31, 2018, compared to the three months and year ended December 31, 2017. Following is a summary of the changes in net operating revenue by reportable segment for the three months and year ended December 31, 2018, compared to the three months and year ended December 31, 2017:















































Net Operating Revenue




For the three months













For the year













ended December 31,











ended December 31,









Amounts in thousands

2018

2017

$ Change

% Change

2018

2017

$ Change

% Change

Canada

$

15,678

$

15,247

$

431

3%

$

61,361

$

57,732

$

3,629

6%

United States



7,938



7,671



267

4%



33,483



32,154



1,329

4%

Poland



19,514



15,414



4,100

27%



68,209



59,796



8,413

14%

Corporate and Other



1,976



961



1,015

106%



5,885



4,387



1,498

34%

Consolidated



$

45,106

$

39,293

$

5,813

15%

$

168,938

$

154,069

$

14,869

10%

The Company’s earnings from operations increased by $0.3 million, or 16%, and decreased by ($5.2) million, or (35%), for the three months and year ended December 31, 2018, compared to the three months and year ended December 31, 2017.  Following is a summary of the changes in earnings (loss) from operations by reportable segment for the three months and year ended December 31, 2018, compared to the three months and year ended December 31, 2017:















































Earnings (Loss) from Operations




For the three months













For the year













ended December 31,











ended December 31,









Amounts in thousands

2018

2017

$ Change

% Change

2018

2017

$ Change

% Change

Canada

$

3,675

$

4,012

$

(337)

(8%)

$

14,633

$

14,608

$

25

—

United States



1,033



1,041



(8)

(1%)



5,882



5,599



283

5%

Poland



460



(648)



1,108

171%



145



2,587



(2,442)

(94%)

Corporate and Other



(3,192)



(2,699)



(493)

(18%)



(11,201)



(8,179)



(3,022)

(37%)

Consolidated



$

1,976

$

1,706

$

270

16%

$

9,459

$

14,615

$

(5,156)

(35%)

Net earnings (loss) attributable to Century Casinos, Inc. shareholders increased by $5.8 million, or 110%, and decreased by ($2.9) million, or (46%), for the three months and year ended December 31, 2018, compared to the three months and year ended December 31, 2017. Following is a summary of the changes in net earnings (loss) attributable to Century Casinos, Inc. shareholders by reportable segment for the three months and year ended December 31, 2018, compared to the three months and year ended December 31, 2017:















































Net Earnings (Loss) Attributable to Century Casinos, Inc. Shareholders




For the three months













For the year













ended December 31,











ended December 31,









Amounts in thousands

2018

2017

$ Change

% Change

2018

2017

$ Change

% Change

Canada

$

2,077

$

1,751

$

326

19%

$

7,715

$

7,681

$

34

—

United States



767



646



121

19%



4,373



3,469



904

26%

Poland



179



(704)



883

125%



(153)



1,280



(1,433)

(112%)

Corporate and Other



(2,517)



(7,027)



4,510

64%



(8,541)



(6,171)



(2,370)

(38%)

Consolidated



$

506

$

(5,334)

$

5,840

110%

$

3,394

$

6,259

$

(2,865)

(46%)

Items deducted from or added to earnings from operations to arrive at net earnings (loss) attributable to Century Casinos, Inc. shareholders include interest income, interest expense, gains (losses) on foreign currency transactions and other, income tax expense and non-controlling interests.

The Company’s Adjusted EBITDA** increased by $0.4 million, or 7%, and decreased by ($2.7) million, or (10%), for the three months and year ended December 31, 2018 compared to the three months and year ended December 31, 2017. Following is a summary of the changes in Adjusted EBITDA** by reportable segment for the three months and year ended December 31, 2018 compared to the three months and year ended December 31, 2017:















































Adjusted EBITDA**




For the three months













For the year













ended December 31,











ended December 31,









Amounts in thousands

2018

2017

$ Change

% Change

2018

2017

$ Change

% Change

Canada

$

4,991

$

4,930

$

61

1%

$

19,522

$

18,171

$

1,351

7%

United States



1,582



1,622



(40)

(3%)



8,061



8,005



56

1%

Poland



1,733



987



746

76%



4,890



6,406



(1,516)

(24%)

Corporate and Other



(2,505)



(2,131)



(374)

(18%)



(9,096)



(6,496)



(2,600)

(40%)

Consolidated



$

5,801

$

5,408

$

393

7%

$

23,377

$

26,086

$

(2,709)

(10%)

*

Amounts presented are rounded. As such, rounding differences could occur in period over period changes and percentages reported.

**

Adjusted EBITDA and Adjusted EBITDA margin are Non-GAAP financial measures. See discussion and reconciliation of Non-GAAP financial measures in Supplemental Information below.

***

The Company defines book value per share as total Century Casinos, Inc. shareholders’ equity divided by outstanding common shares.

Balance Sheet and Liquidity

As of December 31, 2018, the Company had $45.6 million in cash and cash equivalents and $59.5 million in outstanding debt on its balance sheet compared to $74.7 million in cash and cash equivalents and $56.7 million in outstanding debt at December 31, 2017. The outstanding debt as of December 31, 2018 included $40.5 million related to the Company’s credit agreement with the Bank of Montreal, $2.6 million of bank debt related to Casinos Poland, $2.4 million of bank debt related to Century Casino Bath, $0.2 million related to capital leases for Century Resorts Alberta, Century Casino Calgary, Century Casino St. Albert, Century Downs Racetrack and Casino (“CDR”) and Century Mile Racetrack and Casino, and $14.3 million related to a long-term land lease for CDR, net of $0.5 million in deferred financing costs.

Conference Call Information

Today the Company will post a copy of its Annual Report on Form 10-K filed with the SEC for the year ended December 31, 2018 on its website at https://www.cnty.com/corporate/investor-relations/sec-filings. The Company will also post a presentation on the year end results on its website at https://www.cnty.com/corporate/investor-relations/presentations-and-interviews.

The Company will host its fourth quarter 2018 earnings conference call today, Monday, March 11th, at 8:00 am MDT; 3:00 pm CET, respectively. U.S. domestic participants should dial 1-844-244-9160. For all international participants, please use 330-931-4670 to dial-in. Participants may listen to the call live at https://centurycasinos.adobeconnect.com/earningsrelease or obtain a recording of the call on the Company’s website until March 31, 2019 at https://www.cnty.com/corporate/investor-relations/sec-filings.

CENTURY CASINOS, INC. AND SUBSIDIARIES

FINANCIAL INFORMATION – US GAAP BASIS

Condensed Consolidated Statements of Earnings (Loss)




























For the three months

For the year


ended December 31,

ended December 31,

Amounts in thousands, except for per share information

2018

2017

2018

2017

Operating revenue:























Net operating revenue

$

45,106

$

39,293

$

168,938

$

154,069

Operating costs and expenses:























Total operating costs and expenses



43,152



37,587



159,502



139,454

Earnings from equity investment



22



—



23



—

Earnings from operations



1,976



1,706



9,459



14,615

Non-operating income (expense), net



(1,053)



(122)



(3,536)



(2,164)

Earnings before income taxes





923



1,584



5,923



12,451

Income tax provision



(133)



(6,614)



(1,917)



(4,560)

Net earnings (loss)



790



(5,030)



4,006



7,891

Net earnings attributable to non-controlling interests



(284)



(304)



(612)



(1,632)

Net earnings (loss) attributable to Century Casinos, Inc. shareholders

$

506

$

(5,334)

$

3,394

$

6,259


























Earnings (loss) per share attributable to Century Casinos, Inc.:























  Basic



$

0.02

$

(0.20)

$

0.12

$

0.25

  Diluted



$

0.02

$

(0.19)

$

0.11

$

0.24


























Weighted average common shares























  Basic





29,439



26,863



29,401



25,068

  Diluted





29,861



27,479



29,962



25,559

CENTURY CASINOS, INC. AND SUBSIDIARIES

FINANCIAL INFORMATION – US GAAP BASIS

Condensed Consolidated Balance Sheets













(Amounts in thousands)















December 31,



December 31,





2018

2017

Assets











Current assets

$

54,974

$

84,321

Property and equipment, net



187,017



152,778

Other assets



36,834



37,777

Total assets

$

278,825

$

274,876














Liabilities and Equity











Current liabilities

$

50,020

$

34,438

Non-current liabilities



45,422



53,120

Century Casinos, Inc. shareholders’ equity



176,321



179,897

Non-controlling interests



7,062



7,421

Total liabilities and equity

$

278,825

$

274,876

CENTURY CASINOS, INC. AND SUBSIDIARIES

SUPPLEMENTAL INFORMATION

Constant Currency* Results (unaudited)






































For the three months







For the year







ended December 31,





ended December 31,



Amounts in thousands



2018



2017

% Change



2018



2017

% Change

Net operating revenue as reported (GAAP)

$

45,106

$

39,293

15%

$

168,938

$

154,069

10%

Foreign currency impact vs. 2017



1,600













(2,985)









Net operating revenue constant currency (non-GAAP)*

$

46,706

$

39,293

19%

$

165,953

$

154,069

8%


































Earnings from operations (GAAP)

$

1,976

$

1,706

16%

$

9,459

$

14,615

(35%)

Foreign currency impact vs. 2017



151













27









Earnings from operations constant currency (non-GAAP)*

$

2,127

$

1,706

25%

$

9,486

$

14,615

(35%)


































Net earnings (loss) attributable to Century Casinos, Inc. shareholders as reported (GAAP)

$

506

$

(5,334)

110%

$

3,394

$

6,259

(46%)

Foreign currency impact vs. 2017



79













90









Net earnings (loss) attributable to Century Casinos, Inc. shareholders constant currency (non-GAAP)*

$

585

$

(5,334)

111%

$

3,484

$

6,259

(44%)

Gains and losses on foreign currency transactions are added back to net earnings in the Company’s Adjusted EBITDA** calculations. As such, there is no foreign currency impact to Adjusted EBITDA** when calculating Constant Currency* results.

Adjusted EBITDA Margins *** (unaudited)












For the three months

For the year


ended December 31,

ended December 31,


2018

2017

2018

2017

Canada

32%

32%

32%

31%

United States

20%

21%

24%

25%

Poland

9%

6%

7%

11%

Corporate and Other

(127%)

(222%)

(155%)

(148%)

Consolidated Adjusted EBITDA Margin

13%

14%

14%

17%

CENTURY CASINOS, INC. AND SUBSIDIARIES

SUPPLEMENTAL INFORMATION

Reconciliation of Adjusted EBITDA ** to Net Earnings (Loss) Attributable to Century Casinos, Inc. Shareholders by Reportable Segment.



































For the three months ended December 31, 2018

Amounts in thousands

Canada

United States

Poland

Corporate and Other

Total

Net earnings (loss) attributable to Century Casinos, Inc. shareholders

$

2,077

$

767

$

179

$

(2,517)

$

506

Interest expense (income), net



1,084



—



50



65



1,199

Income taxes (benefit)



435



266



280



(848)



133

Depreciation and amortization



779



548



1,025



402



2,754

Net earnings attributable to non-controlling interests



174



—



89



21



284

Non-cash stock-based compensation



—



—



—



255



255

(Gain) loss on foreign currency transactions, cost recovery income and other



(95)



—



(138)



94



(139)

Loss on disposition of fixed assets



4



1



27



23



55

Pre-opening expenses



533



—



221



—



754

Adjusted EBITDA

$

4,991

$

1,582

$

1,733

$

(2,505)

$

5,801


































For the three months ended December 31, 2017

Amounts in thousands

Canada

United States

Poland

Corporate and Other

Total

Net earnings (loss) attributable to Century Casinos, Inc. shareholders

$

1,751

$

646

$

(704)

$

(7,027)

$

(5,334)

Interest expense (income), net



942



—



34



(4)



972

Income taxes





1,308



395



510



4,401



6,614

Depreciation and amortization



898



581



1,045



91



2,615

Net earnings (loss) attributable to non-controlling interests



655



—



(351)



—



304

Non-cash stock-based compensation



—



—



—



250



250

Gain on foreign currency transactions and cost recovery income



(644)



—



(137)



(26)



(807)

Loss on disposition of fixed assets



4



—



278



—



282

Acquisition costs



—



—



—



6



6

Pre-opening expenses



16



—



312



178



506

Adjusted EBITDA

$

4,930

$

1,622

$

987

$

(2,131)

$

5,408


































For the Year ended December 31, 2018

Amounts in thousands

Canada

United States

Poland

Corporate and Other

Total

Net earnings (loss) attributable to Century Casinos, Inc. shareholders

$

7,715

$

4,373

$

(153)

$

(8,541)

$

3,394

Interest expense (income), net



3,895



1



206



12



4,114

Income taxes (benefit)



2,536



1,508



595



(2,722)



1,917

Depreciation and amortization



3,211



2,178



3,065



945



9,399

Net earnings (loss) attributable to non-controlling interests



722



—



(75)



(35)



612

Non-cash stock-based compensation



—



—



—



868



868

(Gain) loss on foreign currency transactions and cost recovery income



(235)



—



(428)



2



(661)

Loss on disposition of fixed assets



10



1



1,054



25



1,090

Pre-opening expenses



1,668



—



626



350



2,644

Adjusted EBITDA

$

19,522

$

8,061

$

4,890

$

(9,096)

$

23,377


































For the Year ended December 31, 2017

Amounts in thousands

Canada

United States

Poland

Corporate and Other

Total

Net earnings (loss) attributable to Century Casinos, Inc. shareholders

$

7,681

$

3,469

$

1,280

$

(6,171)

$

6,259

Interest expense (income), net



3,487



2



105



(25)



3,569

Income taxes (benefit)



3,008



2,128



1,388



(1,964)



4,560

Depreciation and amortization



3,427



2,405



2,747



366



8,945

Net earnings attributable to non-controlling interests



996



—



636



—



1,632

Non-cash stock-based compensation



—



—



—



669



669

(Gain) loss on foreign currency transactions and cost recovery income



(564)



—



(822)



24



(1,362)

Loss on disposition of fixed assets



83



1



535



3



622

Acquisition costs



28



—



—



327



355

Pre-opening expenses



25



—



537



275



837

Adjusted EBITDA

$

18,171

$

8,005

$

6,406

$

(6,496)

$

26,086

CENTURY CASINOS, INC. AND SUBSIDIARIES

SUPPLEMENTAL INFORMATION

*  The impact of foreign exchange rates is highly variable and difficult to predict.  The Company uses a Constant Currency basis to show the impact from foreign exchange rates on current period financial information compared to prior period financial information using the prior period’s foreign exchange rates. In order to properly understand the underlying business trends and performance of the Company’s ongoing operations, management believes that investors may find it useful to consider the impact of excluding changes in foreign exchange rates from the Company’s net operating revenue, earnings from operations and net earnings (loss) attributable to Century Casinos, Inc. shareholders. Constant currency results are calculated by dividing the current quarter or year to date local currency segment results, excluding the local currency impact of foreign currency gains and losses, by the prior year’s average exchange rate for the quarter or year to date and comparing them to actual U.S. dollar results for the prior quarter or year to date. The average exchange rates for the current and prior year are reported in Note 2 to the Consolidated Financial Statements included in Part II, Item 8, “Financial Statements and Supplementary Data” of the Company’s Annual Report on Form 10-K. The average exchange rates for the three months ended December 31, 2018 and 2017 are presented below.

















For the three months











ended December 31,







Average Rates

2018

2017

% Change

Canadian dollar (CAD)

1.3218

1.2708

(4.0%)

Euros (EUR)

0.8763

0.8491

(3.2%)

Polish zloty (PLN)

3.7668

3.5922

(4.9%)

British pound (GBP)

0.7773

0.7534

(3.2%)

Source: Pacific Exchange Rate Service





























Constant currency information is not a measure of financial performance under generally accepted accounting principles in the United States of America (GAAP) and should not be considered a substitute for net operating revenue, earnings from operations or net earnings (loss) attributable to Century Casinos, Inc. shareholders as determined in accordance with GAAP.

**  The Company defines Adjusted EBITDA as net earnings (loss) attributable to Century Casinos, Inc. shareholders before interest expense (income), net, income taxes (benefit), depreciation and amortization, non-controlling interests net earnings (loss) and transactions, pre-opening expenses, acquisition costs, non-cash stock-based compensation charges, asset impairment costs, (gain) loss on disposition of fixed assets, discontinued operations, (gain) loss on foreign currency transactions, cost recovery income and other, gain on business combination and certain other one-time items, such as acquisition and disposition costs and gain or loss. Intercompany transactions consisting primarily of management and royalty fees and interest, along with their related tax effects, are excluded from the presentation of net earnings (loss) and Adjusted EBITDA reported for each segment. Not all of the aforementioned items occur in each reporting period, but have been included in the definition based on historical activity. These adjustments have no effect on the consolidated results as reported under GAAP. Adjusted EBITDA is not considered a measure of performance recognized under GAAP. Management believes that Adjusted EBITDA is a valuable measure of the relative performance of the Company and its properties. The gaming industry commonly uses Adjusted EBITDA as a method of arriving at the economic value of a casino operation. Management uses Adjusted EBITDA to compare the relative operating performance of separate operating units by eliminating the above mentioned items associated with the varying levels of capital expenditures for infrastructure required to generate revenue and the often high cost of acquiring existing operations. Adjusted EBITDA is used by the Company’s lending institution to gauge operating performance. The Company’s computation of Adjusted EBITDA may be different from, and therefore may not be comparable to, similar measures used by other companies within the gaming industry. Please see the reconciliation of Adjusted EBITDA to net earnings (loss) attributable to Century Casinos, Inc. shareholders above.

*** The Company defines Adjusted EBITDA margin as Adjusted EBITDA divided by net operating revenue. Adjusted EBITDA margin is a non-GAAP measure. Management uses this margin as one of several measures to evaluate the efficiency of the Company’s casino operations.

CENTURY CASINOS, INC. AND SUBSIDIARIES

SUPPLEMENTAL INFORMATION

About Century Casinos, Inc.:

Century Casinos, Inc. is an international casino entertainment company that operates worldwide. The Company owns and operates Century Casino & Hotels in Cripple Creek and Central City, Colorado, and in Edmonton, Alberta, Canada and the Century Casino in Calgary and St. Albert, Alberta, Canada and in Bath, England. Through its Austrian subsidiary, Century Resorts Management GmbH (“CRM”), formerly Century Casinos Europe GmbH, the Company holds a 66.6% ownership interest in Casinos Poland Ltd., the owner of eight casino licenses throughout Poland, seven of which are operating. The Company, through CRM, also holds a 75% ownership interests in CDR, which operates in the north metropolitan area of Calgary, Alberta, Canada; a 75% ownership interest in Century Bets! Inc., which operates the pari-mutuel off-track horse betting network in southern Alberta, Canada; and a 51% ownership interest in Golden Hospitality Ltd., a company that manages a hotel and entertainment and gaming club in Vietnam. The Company operates 10 ship-based casinos under agreements with three cruise ship owners. The Company, through CRM, also owns a 7.5% interest in, and provides consulting services to, Mendoza Central Entretenimientos S.A., a company that provides gaming-related services to Casino de Mendoza in Mendoza, Argentina. The Company is also developing Century Mile Racetrack and Casino in Edmonton, Alberta, Canada. The Company continues to pursue other international projects in various stages of development.

Century Casinos’ common stock trades on The Nasdaq Capital Market® under the symbol CNTY.

For more information about Century Casinos, visit our website at www.cnty.com.

CENTURY CASINOS, INC. AND SUBSIDIARIES

SUPPLEMENTAL INFORMATION

This release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and assumptions of the management of Century Casinos based on information currently available to management. Such forward-looking statements include, but are not limited to, statements regarding future results of operations, operating efficiencies, synergies and operational performance, the prospects for and timing and costs of new projects, projects in development and other opportunities, including the Century Mile, Bermuda and Vietnam projects, debt repayment, investments in joint ventures, outcomes of legal proceedings, changes in our tax provisions or exposure to additional income tax liabilities, and plans for our casinos and our Company. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from the forward-looking statements include, among others, the risks described in the section entitled “Risk Factors” under Item 1A in our Annual Report on Form 10-K for the year ended December 31, 2018 and in subsequent periodic and current SEC filings we may make. Century Casinos disclaims any obligation to revise or update any forward-looking statement that may be made from time to time by it or on its behalf.

SOURCE Century Casinos, Inc.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Century Casinos, Inc. Announces Fourth Quarter 2018 Results

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George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Meridianbet Launches ‘Scan. Help.’ Humanitarian Initiative to Support Maternity Hospitals in Southeast Europe

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12 hours ago

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May 17, 2024

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Meridianbet, a member of the Golden Matrix Group (NASDAQ: GMGI), in partnership with Meridianbet Foundation, Expanse Studios, and BC Crvena zvezda Meridianbet announces the launch of a significant humanitarian initiative, ‘Scan. Help.’, aimed at supporting maternity hospitals across Southeast Europe.

The rollout of this action to other market territories is expected in the remainder of 2024.

How It Works

For every scanned QR code and subsequent registration on the Meridian Foundation’s website, funds will be allocated towards equipping five maternity hospitals in Serbia. This innovative approach not only raises awareness but also actively involves the community in our CSR activities.

The initiative is currently ongoing with high media presence and is broadcasted during Southeast Europe’s regional basketball Finals series (ABA League). BC Red Star players wear jerseys featuring the QR code, with additional promotion through basketball arena ads, TV ads, and more, encouraging fans and supporters to participate.

A Unified Effort for Community Impact

The ‘Scan. Help.’ campaign is a collaborative effort involving Meridianbet, Meridianbet foundation, Expanse Studios, and basketball club Crvena zvezda Meridianbet, Southeast Europe’s leading basketball club, of which Meridianbet is the name sponsor. The initiative is designed to leverage our collective resources and influence to make a meaningful impact on local communities.

Multi-Stakeholder Support and Growing Participation

The ‘Scan. Help.’ campaign has received institutional support ad backing from the Ministry of Health, reinforcing the importance and legitimacy of this cause. Additionally, several companies have already expressed their desire to contribute, with provisions made for donations through the Meridian Foundation’s account. This broadening support network amplifies the initiative’s reach and potential impact.

This campaign exemplifies Meridianbet’s dedication to sustainable development and community well-being. In 2023 alone, the company has launched 225 CSR campaigns, reflecting the commitment to making a lasting impact.

The post Meridianbet Launches ‘Scan. Help.’ Humanitarian Initiative to Support Maternity Hospitals in Southeast Europe appeared first on European Gaming Industry News.

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SiGMA Asia Awards 2024: Boomerang Partners Nominated for ‘Rising Star Affiliate Program’

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12 hours ago

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May 17, 2024

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The fast-growing Boomerang Partners affiliate program continues gaining global recognition, earning a nomination for the prestigious ‘Rising Star Affiliate Program 2024’ category in the Asia region

With a rapidly growing network of over 5,200 affiliates across 70+ countries, the dynamic Boomerang Partners affiliate program has been recognized as a finalist for the ‘Rising Star’ category at the SiGMA Awards Asia 2024. While Asia is not currently the central focus for brand promotion, this prestigious recognition from SiGMA is a notable honor that inspires Boomerang to fortify its global footprint and industry-leading position.

In 2023 alone, Boomerang’s achievements included paying over €50 million to affiliates, creating 22 exclusive branded games, hosting 82 tournaments across 30 regions, and expanding into 31 new markets. This followed prestigious wins like ‘Casino of the Year’ at the SiGMA Balkans/CIS Awards, ‘Commission Offer of the Year’ at the AffPapa iGaming Awards, and ‘Best PPC Affiliate’ at the SiGMA Europe Awards.

This year, Boomerang Partners is highlighting innovations like a worldwide traffic tournament and has already been nominated at the AffPapa, MAC, and AskGamblers Awards – eagerly awaiting the results across these prestigious voting processes and final selections.

“We actively collaborate with SiGMA, having participated in their events and been honored with SiGMA awards in other regions previously,” said Vitalii Prokofev, CEO at Boomerang Partners. “SiGMA sets the standard with premier industry events and accolades worldwide. This nomination at their Asia awards is valuable recognition that fuels our ambition to raise our global profile further.”

Boomerang Partners invites all affiliate managers and industry enthusiasts to learn more about their award-winning program. Voting for the SiGMA Asia Awards runs until May 20th. Winners will be announced at the June 3rd ceremony during the June 2-5 event in Manila.

Support Boomerang in the ‘Rising Star’ category while voting for other favorites at SiGMA.

 

The post SiGMA Asia Awards 2024: Boomerang Partners Nominated for ‘Rising Star Affiliate Program’ appeared first on European Gaming Industry News.

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PopOk Gaming Unveils Exciting New Instant Game: “Dice”

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12 hours ago

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May 17, 2024

By

Reading Time: < 1 minute

 

PopOK Gaming, a leading innovator in the gaming industry, is thrilled to announce the launch of its latest Instant game sensation: “Dice”.

“Dice” is a dynamic game that puts players’ instincts and strategies to the test. Participants can jump in at any moment and predict whether the resulting number will be higher or lower than their selected number. With every roll, the excitement mounts as players watch the green fields light up, indicating their path to victory.

It’s not just about luck – it’s about strategy too. Players have the opportunity to adjust their multiplier, choose their odds, and press start for a thrilling gaming experience.

Here’s how it goes down:

📈 Move the dice higher or lower on the screen.
🚀 Choose over or under.
⏳ Place your bet and hold on tight.
🎲 Launch the dice!
🏆 Win big, with potential rewards of up to x9600!

With its user-friendly interface and exciting gameplay, “Dice” promises to captivate players of all skill levels. Whether you’re a seasoned gamer or new to the world of Instant games, “Dice” offers endless opportunities for fun and excitement.

Join the action today and roll the dice for your chance to win big! Visit PopOK Gaming to start playing now.

 

The post PopOk Gaming Unveils Exciting New Instant Game: “Dice” appeared first on European Gaming Industry News.

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