Century Casino Increases Net Operating Revenue
It’s been an exciting trimester for Canada’s Century Casinos.
With its two new casinos opened towards the end of the second quarter, the Edmonton based gambling venue saw its net operating revenues go through an organic growth to $37.3 million or by six percent compared to the same period last year.
The June opening of the new casino at the Hilton Warsaw Hotel and Conference Centre in Poland and an earlier Century addition onboard the Mein Schiff 6 through a fully operational ship-based casino became the two revenue streams which contributed to the positive results in the second quarter.
Century Casino continues to expand its footprint even further and adding to all the aforementioned, the Edmonton based operator acquired the casino licence held by Saw Close Casino to start developing a casino in Bath, England.
Century Casino Expanding its Footprint
The overseas project will cost around $7.5 million and is expected to result in a fully functioning casino in the first half of 2018, subject to regulatory and governmental approvals.
The latest moves are merely the continuation of the company’s ongoing expansion plan which is being realized in several stages. Century Casino already acquired the Apex casino in suburban Edmonton in October 2016, whereas the company was a month before that selected as the applicant by Horse Racing Alberta to own, build and operate a horse racing facility in Edmonton market area through its Century Mile Racetrack and Casino.
Century Mile is expected to be a one-mile horse race track but also a multi-level entertainment complex that will also include a slot machine gaming floor. The Century Mile Racetrack is estimated at costs in excess of $46.2 million.
The construction will take around 15 months to complete with the current timeline set in the fourth quarter of 2018.