Financial Performance - Terminated agreements with Circa Sports and Tipico resulted in a total of 2.7millioninpayments,includingbreakagefeesandowedsportsbettingrevenue,contributing1.7 million in other revenue for the year ended December 31, 2024 [34]. - The increase in the slot machine net sales percentage from 15% to 17% is estimated to have increased net operating revenue by approximately 2.9millionatCanadianpropertiesfortheyearendedDecember31,2024[50].−Earningsfromoperationsin2024were4.3 million, with a potential 1.3millionincreaseiftheUSdollardepreciatedby1051.9 million funded through financing provided by VICI PropCo [31]. - The Cape Girardeau location opened a 69-room hotel called The Riverview on April 4, 2024, with a construction cost of approximately 30.5millionfinancedwithcashonhand[32].−ThecompanyplanstopartnerwithsportsbettingoperatorstoconductsportsbettingatitsMissourifacilities,withexpectationsforsportsbettingtobegininlate2025[39].−Thecompanyisexploringadditionalpotentialgamingprojectsandacquisitionopportunities,althoughvariousriskscouldaffectthefeasibilityoftheseprojects[33].EmploymentandCommunityEngagement−AsofDecember31,2024,thecompanyhad3,181full−timeemployeesand886part−timeemployees,with252employeesatCPLcasinosinPolandbelongingtotradeunions[56].−Employeedevelopmentprogramsareinplacetoenhanceleadershipskillsandcareerprogression[58].−Thecompanyiscommittedtocommunitysupportthroughcharitablecontributionsandinitiatives[59].CompetitionandMarketConditions−Thecompanyfacesintensecompetitionfromlargercasinoswithgreaterresources,anditfocusesontargetedmarketingeffortstoattractcustomers[35].−ThePolishmarkethas52casinolicensesavailable,withcompetitionfromothercasinosandonlinegamingpotentiallyimpactingoperations[46].−Thecompanyoperatesinvariousjurisdictions,subjecttoextensiveregulations,whichcouldmateriallyaffectitsgamingoperationsiflicensesarenotmaintained[50].FinancialRisks−AsofDecember31,2024,thecompanyhasatotaldebtof339.6 million, with the majority being variable-rate debt [306]. - A 1% change in the variable-rate debt would result in a 3.4millionchangeinannualcashinterestexpenses[306].−Thecompanyisexposedtoforeigncurrencyexchangerisk,particularlywiththeUSdollaragainsttheCanadiandollarandPolishzloty[308].−In2024,thechangeintherelativevalueoftheUSdollarresultedina2.4 million increase in accumulated other comprehensive loss [308]. - The company has not hedged against foreign currency exchange rate changes related to its international operations [307]. - The assets and liabilities of foreign subsidiaries are primarily held in local currencies, leading to volatility in earnings [307]. - The translation of revenue and expenses is done at each period's average exchange rate, affecting operational results [310].
Century Casinos(CNTY)2025-03-12 22:08