Century Casinos is divesting the operating businesses of the racetracks to Highfield while VICI retains real estate ownership. This represents a strategic business restructuring rather than a negative development, with no direct impact on Century Casinos' core operations.
Company achieved all-time record first quarter net operating revenue of $137.2 million with 5% growth, 65% increase in earnings from operations, and 24% growth in Adjusted EBITDAR. All North American properties outperformed prior year, with particularly strong results at the Nugget property showing 93% Adjusted EBITDAR increase. Net loss improved 20% year-over-year despite continued losses.
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