Work On Womacks Hurt Profits, Company Says ; Century Says Gas Prices, Smoking Ban, Sour Economy Also Contributed

Summary

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Century Casinos Inc. on Monday blamed renovations at its Womacks Casino in Cripple Creek, along with a slowing U.S. economy, higher gasoline prices and Colorado's smoking ban, for a 19.8 percent decline in second-quarter profits.

The Colorado Springs-based gaming company reported that its earnings fell to $835,000, or 4 cents a share, in the Aprilto-June quarter from $1.04 million, or 4 cents a share, a year earlier. Revenue declined 5.8 percent during the same period to $23.5 million. Earnings during the first half of the year fell 46.8 percent to $1.38 million, or 6 cents a share, from $2.58 million, or 11 cents a share, a year ago, as revenue fell 3.1 percent to $46.7 million.

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Work On Womacks Hurt Profits, Company Says ; Century Says Gas Prices, Smoking Ban, Sour Economy Also Contributed

Much of the declines came from a sharp drop in both revenue and profits from Womacks -- gam...

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