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    Century Casinos' earnings, revenue up in 2011

    21.05.12

    Colorado Springs-based Century Casinos on Thursday reported net earnings were down in the fourth quarter but up significantly for the year.

    Net earnings decreased by $0.2 million, or 29 percent, in the fourth quarter compared to the fourth quarter in 2010. For the year, net earnings grew to roughly $3 million, an increase of $2 million, or nearly 200 percent, from 2010. Earnings per share rose to 13 cents in 2011 from 4 cents per share the year before.

    The company’s net operating revenue in the fourth quarter was $17.6 million, up 13 percent from a year earlier. Net operating revenue for the year rose $10.2 million, or 17 percent, to $70.9 million

    “Throughout the fourth quarter and full year, customer spending at our facilities improved despite widespread economic concerns and volatility in the capital markets,” Erwin Haitzmann and Peter Hoetzinger, co-chief executive officers, said in a statement. “We also continued to make progress across the organization in enhancing operating efficiencies and maintaining a disciplined approach to marketing.”


    Source: Colorado Springs Gazette

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