Investing – Century Casinos shares tumble over 9% on Q4 earnings miss, weak revenue

PR NewsWire – Century Casinos, Inc. Announces Fourth Quarter and Full Year 2024 Results

Phil has a question:

Why haven’t Clark Kent and the Undertaker and the rest of the useless minions over at Horse Racing Alberta been fired yet.

How incompetent is Horse Racing Alberta to be predicting increases in revenues when the Alberta budget predicts declines and Century’s results show declines.

How fast will the Undertaker scurry down the hallway to rat on Phil to Clark Kent.

Yahoo Finance – CNTY

Casino.org – Todd Shriber – Century Casinos Call Turns Testy as Investors Decry Stock Slide

Horse Racing Alberta 2025 – 2027 Business Plan

The level of revenue from racetracks is not expected to continue in 2025-26, reducing the grant to HRA.

Page 90 – province of Alberta – Budget 2025 Fiscal Plan 2025-28

Alberta – Budget 2025 Fiscal Plan 2025-28

Phil has a question:

If the provincial government is forecasting a drop in revenue from racetracks why isn’t Horse Racing Alberta doing the same.

This Mess We’re In

How would you grade Horse Racing Alberta on their serving our horse-betting customers and identifying and creating new ones.

Is Horse Racing Alberta more interested in serving our horse-betting customers and identifying and creating new ones or ensuring that our current financial arrangements stay in place in Alberta. 

Is the percentage of people in Edmonton and Calgary that know that the premier thoroughbred race for 3 year olds in Alberta is the Canadian Derby in August over or under minuscule.

Isn’t a Business Plan supposed to have a plan.

How many quilts could the Hutterites make from the fluff in that document.

Does any member of the UCPs have the balls to call this report what it is – Bullshit.

Have you ever seen a bigger joke in your life than what Horse Racing Alberta calls performance measures on page 12.

Who gives a shit about the nimby-pamnby social engagement index when the only performance metric that counts is the handle and that’s dropping as fast as the anvil heading for Wile E. Coyote’s noggin.

How fast will the Undertaker scurry down the hallway to rat on Phil to Clark Kent.

The downgrade is a reflection of the high leverage ratio of Century Casinos, which is expected to exceed 7.0x Debt/EBITDA for the next 12 to 18 months. This high leverage is due to a stagnant operating performance and significant lease obligations to VICI Properties (NYSE:VICI) L.P., specifically for four properties in Alberta, Canada. These properties were part of a sale leaseback transaction executed in September 2023. Despite the capital obtained being directed towards growth capital expenditures, Moody’s anticipates the high leverage to persist.

Investing.com – Century Casinos ratings downgraded by Moody’s due to high leverage

Phil has a question:

What impact will Century’s stagnant operating performances have on slots revenues from Century Downs and Century Mile.

If Century’s operating performances at Century Downs and Century Mile remain stagnant or even worse decline how will that affect the projected budgets in the pipe dream fiction that Horse Racing Alberta refers to as its 2024 – 2026 Horse Racing Alberta Business Plan.

Time to take off the rose coloured glasses.

In The Air Tonight

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Phil M. Stockmen