{"id":225250,"date":"2022-08-07T16:09:05","date_gmt":"2022-08-07T21:09:05","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=225250"},"modified":"2022-08-07T18:53:17","modified_gmt":"2022-08-07T23:53:17","slug":"century-casinos-has-outlets-for-growth-share-price-appreciation","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/century-casinos-has-outlets-for-growth-share-price-appreciation\/","title":{"rendered":"Century Casinos Compelling Small-Cap Gaming Stock, Says Analyst"},"content":{"rendered":"

Early Friday, Century Casinos (NASDAQ:CNTY) delivered second-quarter results that slightly beat Wall Street expectations. While that wasn\u2019t enough to prevent a 3% decline by the stock, analysts remain upbeat on the name.<\/p>\n

\"Century
The Sparks Nugget Casino in Sparks Nevada. It’s seen contributing to growth for Century Casinos. (Image: The Nevada Independent<\/em>)<\/figcaption><\/figure>\n

In a note to clients, Stifel analyst Jeffrey Stantial says investors are likely looking past casino operators\u2019 year-to-date results, but rather focusing on the potential for rampant inflation to pinch gaming spending<\/a> heading into 2023. Still, he rates Century a \u201cbuy,\u201d with a $20 price target — more than double where the shares closed on Aug. 5.<\/p>\n

While visibility is limited, we remain constructive nonetheless given a wide discount to the group (~5x 2023E Adj. EBITDA vs. regional peers 6.5-10.0x),\u201d<\/strong> writes Stantial.<\/p><\/blockquote>\n

Despite the Friday sell-off, Century stock is higher by 14.31% over the past month. But it\u2019s down 31.12%, and needs to double to return to its 52-week high.<\/p>\n

Missouri, Reno Catalysts for Century<\/h2>\n

The Colorado-based company is in the midst of working through the $195 million acquisition<\/a> of the Nugget Sparks casino. It is also acquiring a 50% interest in the real estate firm that owns the property assets of that gaming venue. Announced in February, that transaction marks Century\u2019s entry into Nevada.<\/p>\n

\n

When the Nugget Sparks deal is completed<\/a>, Century will operate nine casinos in the US and Canada. The operator\u2019s entry into Nevada, as well as its two venues in Missouri, are viewed as near- and long-term catalysts for the stock.<\/p>\n<\/div>\n

\u201cManagement reiterated $3.6M project cost for the Caruthersville (Missouri) \u00a0hotel, with $2.2M spent to-date (vs. $1.3M at Q1). The property is on track with an initial target to open this month. More impactful, preparations to begin building the $47M (unchanged) on-shore facility are largely complete, as CNTY recently received legislative approval to bring its property on-shore,\u201d adds Stantial.<\/p>\n

The analyst points out that in the June quarter, Century\u2019s pair of Missouri casinos contributed to out-performance, with modest margin improvement at its Colorado gaming properties. That quartet of casinos offset some of the lag at the Mountaineer in West Virginia.<\/strong><\/p>\n

Century Investors Waiting on More Transaction News<\/h2>\n

Entering 2022, analysts and investors widely expected to be active on the mergers and acquisitions front, while divesting its two-thirds stake in Casinos Poland. With the Nugget Sparks deal, Century somewhat lived up to the consolidation speculation. But geopolitics are getting in the way of a Poland sale.<\/p>\n

The company announced in January 2021 that it\u2019s looking to divest that interest<\/a>, but no deal has been reached. Now, those efforts are being delayed by the Russia\/Ukraine conflict. Interestingly, the war in Ukraine is providing support to Century\u2019s Poland operations, but it appears investors could ascribe some premium to the stock if the firm becomes a North America-only gaming outfit.<\/strong><\/p>\n

\u201c<\/strong>We expect this continues to reflect heathy demand post re-opening, as well as an influx of people driven into Poland by the conflict in Ukraine. We expect investors are continuing to look for a potential sale here as management seeks to position CNTY as a North America only operator,\u201d concludes Stantial.<\/p>\n","protected":false},"excerpt":{"rendered":"

Early Friday, Century Casinos (NASDAQ:CNTY) delivered second-quarter results that slightly beat Wall Street expectations. While that wasn\u2019t enough to prevent a 3% decline by the stock, analysts remain upbeat on the name. In a note to clients, Stifel analyst Jeffrey Stantial says investors are likely looking past casino operators\u2019 year-to-date results, but rather focusing on […]<\/p>\n","protected":false},"author":46,"featured_media":225254,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[82227],"acf":[],"yoast_head":"\nCentury Casinos Has Outlets For Growth, Share Price Appreciation<\/title>\n<meta name=\"description\" content=\"Century Casinos has growth levers in Nevada and beyond.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Century Casinos Has Outlets For Growth, Share Price Appreciation\" \/>\n<meta property=\"og:description\" content=\"Century Casinos has growth levers in Nevada and beyond.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/century-casinos-has-outlets-for-growth-share-price-appreciation\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-07T21:09:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-08-07T23:53:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/sparks.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2400\" \/>\n\t<meta property=\"og:image:height\" content=\"1800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/century-casinos-has-outlets-for-growth-share-price-appreciation\/\",\"url\":\"https:\/\/www.casino.org\/news\/century-casinos-has-outlets-for-growth-share-price-appreciation\/\",\"name\":\"Century Casinos Has Outlets For Growth, Share Price Appreciation\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/century-casinos-has-outlets-for-growth-share-price-appreciation\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/century-casinos-has-outlets-for-growth-share-price-appreciation\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/sparks.jpg\",\"datePublished\":\"2022-08-07T21:09:05+00:00\",\"dateModified\":\"2022-08-07T23:53:17+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Century Casinos has growth levers in Nevada and beyond.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/century-casinos-has-outlets-for-growth-share-price-appreciation\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/century-casinos-has-outlets-for-growth-share-price-appreciation\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/century-casinos-has-outlets-for-growth-share-price-appreciation\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/sparks.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/sparks.jpg\",\"width\":2400,\"height\":1800,\"caption\":\"The Sparks Nugget Casino in Sparks, Nevada. It could be a second-half catalyst for Century Casinos. 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