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Century Casinos, Inc. Announces Second Quarter 2012 Results (with document) - Seite 3
|Amounts in millions |Change |% Change |Change |% Change |
|Century Casino & Hotel, Edmonton |($0.1) |(9%) |$0.1 |4% |
|Century Casino, Calgary |(0.0) |(26%) |0.2 |64% |
|Century Casino & Hotel, Central City |0.2 |124% |0.4 |109% |
|Century Casino & Hotel, Cripple Creek|0.0 |12% |0.0 |7% |
|Cruise Ships & Other |(0.1) |(43%) |(0.1) |(22%) |
|Corporate Other |0.5 |42% |0.7 |35% |
|Total |$0.5 |78% |$1.3 |126% |
Items deducted from or added to earnings from operations to
arrive at net earnings include interest income, interest expense
and gains/losses on foreign currency transactions.
Overall, the increase in earnings from operations and net earnings in
the three and six months ended June 30, 2012 compared to the three
and six months ended June 30, 2011 is due to increased efforts to
attract customers and generate additional revenue and control
costs at all properties and a decrease in depreciation expense
due to fully depreciated assets in Edmonton and Central City.
Property and Category Results
(in thousands)
The following table shows net operating revenue and Adjusted
EBITDA** by property or category For the three and six months ended
June 30, 2012 and June 30, 2011.
| |Net |Adjusted |Net |Adjusted |
| |Operating |EBITDA** |Operating |EBITDA** |
| |Revenue | |Revenue | |
| |For the |For the |For the |For the |
| |Three |Three |Six Months |Six Months|
| |Months |Months | | |
| |Ended June |Ended June|Ended June |Ended June|
| |30, |30, |30, |30, |
| | | | | |
|Condensed Consolidated Statements of Earnings |
| | | | | |
| | | | | |
| |For the Three Months |For the Six Months |
| |Ended June 30, |Ended June 30, |
|Amounts in thousands, |2012 |2011 |2012 |2011 |
|except for per share | | | | |
|information | | | | |
|Operating revenue: | | | | |
| Gaming |$15,709 |$15,928 |$30,968 |$30,753 |
| Hotel, bowling, food | | | | |
|and beverage |3,135 |3,141 |6,456 |6,384 |
| Other |1,103 |1,004 |2,046 |1,939 |
| Gross revenue |19,947 |20,073 |39,470 |39,076 |
|Less: Promotional | | | | |
|allowances |(2,156) |(2,071) |(4,110) |(3,959) |
|Net operating revenue |17,791 |18,002 |35,360 |35,117 |
|Operating costs and | | | | |
|expenses: | | | | |
| Gaming |7,459 |7,341 |14,692 |14,272 |
| Hotel, bowling, food | | | | |
|and beverage |2,420 |2,553 |4,857 |5,064 |
| General and | | | | |
|administrative |5,320 |5,848 |10,624 |11,216 |
| Depreciation |1,180 |1,665 |2,358 |3,306 |
|Total operating costs | | | | |
|and expenses |16,379 |17,407 |32,531 |33,858 |
|Earnings from equity | | | | |
|investment |283 |382 |438 |474 |
|Earnings from | | | | |
|operations |1,695 |977 |3,267 |1,733 |
|Non-operating income | | | | |
|(expense): | | | | |
| Interest income |23 |5 |29 |7 |
the three and six months ended June 30, 2012 compared to the three
and six months ended June 30, 2011 is due to increased efforts to
attract customers and generate additional revenue and control
costs at all properties and a decrease in depreciation expense
due to fully depreciated assets in Edmonton and Central City.
Property and Category Results
(in thousands)
The following table shows net operating revenue and Adjusted
EBITDA** by property or category For the three and six months ended
June 30, 2012 and June 30, 2011.
| |Net |Adjusted |Net |Adjusted |
| |Operating |EBITDA** |Operating |EBITDA** |
| |Revenue | |Revenue | |
| |For the |For the |For the |For the |
| |Three |Three |Six Months |Six Months|
| |Months |Months | | |
| |Ended June |Ended June|Ended June |Ended June|
| |30, |30, |30, |30, |
| | | | | |
|Condensed Consolidated Statements of Earnings |
| | | | | |
| | | | | |
| |For the Three Months |For the Six Months |
| |Ended June 30, |Ended June 30, |
|Amounts in thousands, |2012 |2011 |2012 |2011 |
|except for per share | | | | |
|information | | | | |
|Operating revenue: | | | | |
| Gaming |$15,709 |$15,928 |$30,968 |$30,753 |
| Hotel, bowling, food | | | | |
|and beverage |3,135 |3,141 |6,456 |6,384 |
| Other |1,103 |1,004 |2,046 |1,939 |
| Gross revenue |19,947 |20,073 |39,470 |39,076 |
|Less: Promotional | | | | |
|allowances |(2,156) |(2,071) |(4,110) |(3,959) |
|Net operating revenue |17,791 |18,002 |35,360 |35,117 |
|Operating costs and | | | | |
|expenses: | | | | |
| Gaming |7,459 |7,341 |14,692 |14,272 |
| Hotel, bowling, food | | | | |
|and beverage |2,420 |2,553 |4,857 |5,064 |
| General and | | | | |
|administrative |5,320 |5,848 |10,624 |11,216 |
| Depreciation |1,180 |1,665 |2,358 |3,306 |
|Total operating costs | | | | |
|and expenses |16,379 |17,407 |32,531 |33,858 |
|Earnings from equity | | | | |
|investment |283 |382 |438 |474 |
|Earnings from | | | | |
|operations |1,695 |977 |3,267 |1,733 |
|Non-operating income | | | | |
|(expense): | | | | |
| Interest income |23 |5 |29 |7 |
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