Century Casinos missed expectations with its fourth quarter results posted before the bell Friday.
The gaming company swung to a loss of $0.14 per share from earnings of $0.13 in the fourth quarter of 2021, far worse than the Zacks Consensus Estimate (ZCE) of a $0.02 per share loss.
Revenue for the quarter ended December 31 was $103.75 million, down from $107.3 million a year earlier and also below the ZCE.
Shares of the Colorado-based company fell more than 16% to $7 on Friday afternoon.
Looking ahead, the current consensus EPS estimate is $0.15 on $107.9 million in revenue for the coming quarter and $1.05 on $565.47 million in revenues for the current fiscal year.
The company is looking to build on its recent progress regarding new casino locations.
“In December 2022, we completed the relocation of the Caruthersville casino from the riverboat and barge to the land-based pavilion where we will operate the casino until the casino and hotel development project is complete,” Co-CEOs Erwin Haitzmann and Peter Hoetzinger said in a statement.
“Construction on this project and our Cape Girardeau hotel project are on schedule to be completed in 2024.”
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