Dallas, Texas 01/21/2014 (FINANCIALSTRENDS) – Century Casinos, Inc. (NASDAQ:CNTY) stock has posted a healthy 11.2 percent increase in its share value ever since its President & Co CEO Peter Hoetzinger announced the resort and casino company’s growth plans to investors on the sidelines of ICR XChange Conference in Orlando held on 14th January 2014.
The sales pitch of Mr Hoetzinger was based on the growth prospects of the 26 casinos his firm operates across USA, Canada, Caribbean, Eastern Europe and the more than 12 luxury cruise vessels. He highlighted the fact that Century Casinos, Inc. (NASDAQ:CNTY) has provided great return on investments for its investors for 14 consecutive quarters by recording “net operating revenues increase”.
The highlight of the presentation was the strong operational and financial position of the firm. It boats of total assets of $169 million and has a total debt burden of only $16 million. It has generated cash and cash equivalents of $30 million from operations in 2013.It reported an impressive 39 percent increase in net operating revenue and an 84 percent increase in net earnings to $6.4 million for the year. It boasts of an accumulated cash of $14.4 million which is plans to leverage judiciously for its future expansion.
Century Casinos, Inc. (NASDAQ:CNTY) Co-CEO also spelt out the targets they have set themselves for the next few quarters.
It plans to bring in an improvement in the operating margins and identify non performing properties for closure. It also has plans of further extending the operations of “Casinos Poland” which enjoys a 45 percent market share and is well positioned to help the firm grow into a large cap entertainment major. It also has identified joint ventures with a travel firm in Germany “TUI Travel Germany” and has drawn up plans to operate three new casinos on “Seabourn” seagoing vessels.
