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Omar Venerio
Omar Venerio
Articles (1455) 

US Markets Advance on Monday

Century Casinos jumps on financial results

U.S. stocks were positive on Monday morning on strong retail sales, which rose 0.2% in January. The Dow Jones Industrial Average advanced 0.64% to 25,631, the S&P 500 index rose1.23% to 2,782 and the Nasdaq Composite Index climbed 1.82% to 7,556.

Shares of Century Casinos Inc. (NASDAQ:CNTY) jumped nearly 4% on Monday morning after the company announced fourth-quarter results. Revenue grew 14.8% from the prior-year quarter to $45.1 million, beating expectations by $2.7 million. Earnings of 2 cents per share fell 4 cents short of analysts’ estimates.

"This quarter we continued to see revenue growth in each of our segments and ended the year growing revenue by 10%," Co-CEOs Erwin Haitzmann and Peter Hoetzinger said in a press release. "We are pleased with this growth, especially with the longer-than-expected casino closures in Poland due to licensing delays, which we estimate negatively impacted net operating revenue by $9.8 million."

Further, adjusted earnings before interest, taxes, depreciation and amortization reached $5.8 million, an increase of 7% from the prior-year quarter. 



Global markets

The main European stock markets higher. The U.K.'s FTSE 100 gained 0.37%, France's CAC 40 rose 0.66%, Germany's Dax swelled 0.75% and Spain's IBEX 35 advanced 0.47%.

In Asia, Japan's Nikkei 225 inched up 0.47%, India’s BSE Sensex climbed 1.04%, Hong Kong's Hang Seng gained 0.97% and China's Shanghai Composite rose 1.92%.

Disclosure: The author holds no positions in any stocks mentioned.

About the author:

Omar Venerio
Omar Venerio is a capital markets, derivatives, corporate finance and financial management professor. He is passionate about the stock market and providing independent fundamental research and hedge fund and insider trading-focused investigation.

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