\u201cSeveral near-term catalysts, including The Riverview opening (April 4), Poland re-licensing (currently run-rating ~$6m of EBITDA vs ~ $12m prior), and completion of Caruthersville (4Q24). Moreover, we now anniversary the takeovers of Rocky Gap (July 2023) and Nugget (April 2023), which had some initial learnings,\u201d observed the analyst.<\/p>\n
At the end of last year, Century\u2019s leverage stood at 4.9x, but that\u2019s expected to jump to 5.6x by the end of this year due to the operator\u2019s Missouri plans and efforts to ramp up the Nugget and Rocky Gap. However, that leverage ratio could decline to 4.8x \u201cmarking the largest one-year deleveraging in our coverage,\u201d noted Beynon.<\/p>\n
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Reducing debt could foster confidence among investors as could solid execution at the Maryland and Reno properties, which are viewed as integral to the long-term thesis on the stock.<\/p>\n<\/div>\n
\u201cCNTY is a unique value\/growth story with two renovation projects that we believe will earn a mid-teens return on $82mn spend. In addition, the Nugget and Rocky Gap acquisitions should further drive medium-term growth,\u201d concluded Beynon.<\/p>\n","protected":false},"excerpt":{"rendered":"
Shares of Century Casinos (NASDAQ: CNTY) joined the broader gaming equity complex to the downside Wednesday as the March reading of the Consumer Price Index (CPI) came in higher than expected, indicating inflation is proving more persistent than economists hoped. That concerning economic data point obfuscated some positive news pertaining to Century. In a new […]<\/p>\n","protected":false},"author":46,"featured_media":228384,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,33810],"tags":[81897,81903,81898],"acf":[],"yoast_head":"\n
Century Casinos Stock Punished Too Harshly, Says Analyst<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n