Century Casinos generated the highest quarterly EBITDA in the company’s history for the three and six months ended June 30, 2021. The net operating revenue was $92.2m, up 155% from the three months ended June 30, 2020.
Earnings from operations were $18.1 million, a 957 percent increase over the three months ended June 30, 2020. Net earnings attributable to Century Casinos shareholders were $6.9 million. It was a 154% increase over the three months ending June 30, 2020.
In late 2019, a COVID-19 outbreak was identified in China, and it has since spread throughout much of the world. The COVID-19 pandemic had a negative impact on the Company’s 2020 results of operations and financial condition. It had a lesser impact on the Company’s results of operations in the first half of 2021 because the Company’s US properties were open and operating during this period.
The company’s properties in Canada reopened on June 10, 2021, and its casinos in Poland reopened on May 28, 2021. The company’s casinos in the United States have been open since June 2020. But their operations have had to change due to government health and safety requirements in the jurisdictions where they are located. Otherwise, the duration and ultimate impact of the COVID-19 pandemic is unknown.