Century Gaming experienced a stellar second quarter in 2022, as their earnings surged by 21% year-over-year. This remarkable showing positioned them favorably against numerous rivals in the gambling sector. Although firms such as Bally’s witnessed their revenue nearly twofold, others, including Boyd Gaming, observed minimal expansion.
Century’s gains also received a substantial lift, with earnings allocated to stockholders soaring by a considerable 29%. The corporation emphasized its latest purchase of the Nugget Casino Resort in Reno for $1.95 billion, indicating its aspirations for continued expansion.
While the document acknowledges the influence of the COVID-19 outbreak, particularly on its Canadian and Polish holdings, Century Gaming maintains a positive outlook on the future. The firm states that the majority of its operations are now functioning without COVID-related limitations. Nevertheless, it also recognizes the persistent uncertainty surrounding the pandemic’s timeframe and enduring consequences.
Century Resorts recently acquired a 50% stake in Smooth Bourbon, the landowner of their latest resort property. In a separate transaction, they purchased 100% of Nugget Sparks, the entity responsible for the resort’s operations.
This strategic maneuver was facilitated by an agreement with Goldman Sachs, who provided Century with a $350 million loan, supplemented by a $30 million revolving credit facility for unforeseen expenses.
