Century Casinos, Inc. (NASDAQ:CNTY) shares gained 7% in premarket trading on Friday even after the gaming company reported first-quarter results that came in below Wall Street expectations.
Revenue misses forecasts but reaches quarterly record
The casino operator reported an adjusted loss of -$0.58 per share for the quarter ended March 31, 2026, slightly weaker than analyst estimates of -$0.55 per share.
Quarterly revenue totalled $137.24 million, missing the consensus forecast of $140.96 million. However, revenue still increased 5% compared with $130.44 million recorded in the same period last year.
Century Casinos said the quarter marked the strongest first-quarter net operating revenue performance in the company’s history.
Management added that all North American properties delivered year-on-year improvements in both revenue and adjusted EBITDAR.
“The first quarter of 2026 was an all-time record for net operating revenue in a first quarter in the Company’s history, and we saw all North American properties outperform the first quarter of 2025 in both net operating revenue and Adjusted EBITDAR,” said Co-Chief Executive Officers Erwin Haitzmann and Peter Hoetzinger.
“The growth was driven by strong play from our high-value and core customer groups.”
Adjusted EBITDAR posts strong growth
Adjusted EBITDAR increased 24% year-on-year to $24.9 million, compared with $20.2 million in the first quarter of 2025.
The company highlighted particularly strong performance at the Nugget Casino Resort in Nevada, where adjusted EBITDAR surged 93% from the prior-year quarter.
Canada and U.S. Midwest operations support results
By operating region, the U.S. Midwest segment generated revenue of $41.8 million, representing a 5% increase compared with last year.
Canada delivered the strongest regional growth, with revenue rising 11% year-on-year to $18.3 million.
Century Casinos also reduced its net loss attributable to shareholders by 20%, reporting a quarterly loss of $16.5 million versus $20.6 million in the prior-year period.
Company maintains cash position
As of March 31, 2026, the company held $60 million in cash and cash equivalents, compared with $68.9 million at the end of fiscal 2025.
Total outstanding debt stood at $336.7 million at quarter-end.