CNTY - Earnings call transcript Q4 2017

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Operator

Welcome to Century Casinos' Q4, 2017 Earnings Conference Call. This call will be recorded. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. I would like to introduce our host for today's call, Mr. Hoetzinger. Peter Mr. begin. may you Hoetzinger,

Peter Hoetzinger

well morning, everyone, call. Co-CEO joining earnings Haitzmann; you the of Vice Finance, Margaret and me on thank Stapleton. as Erwin With Casinos, my of for our the Executive Chairman President our Century Good as call and are

filings. to a risk forward-looking we cause materially update a future a begin, otherwise. risks whether SEC number to or we revise that various the and to The these we provide actual in factors forward-looking forward-looking differ events discussing result statements. statements, uncertainties as remind like we be and detailed no We the our information, may you filings, results undertakes of information, from to of of Before you that our obligation discussion new would will company encourage or which involves review

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Operator

state question. question Our Please [Operator your David of Bain first from comes Roth Instructions] Capital.

David Bain

so a clear renewed? times ever Hi, it, you've not just-- on had or there you been I'm the a or guys, CPL have how of I has time since history Poland, acquired many license

Peter Hoetzinger

in others chip that? at for has the XXXX. is own on since start, started with two casino have is been Marriot Erwin casino you we details in let which the the number thirds Maybe company of has the me the operations Casinos can Erwin, the XXXX Hotel of the Poland name well And you which license but maybe as in Warsaw place in country. Most that. continuously one that in

Erwin Haitzmann

said, not we licenses, like decide back Also other always for Yes. countryside, we the it had got ones we other have we matters and lost one the those. continuity. in we indicate, gotten first if of you and Where

able always the So think we keep renew. short I or in important were ones to either

David Bain

these typically and expire disruption Okay so renewal do I haven't they process? before through going let seen Because a before. the

Erwin Haitzmann

yesterday obviously-- won't it's and hand. can no, diplomatically union representatives No, mean we that's and forever. I but in we I new change spoke it, hope be we it hopefully not our be to

David Bain

flow year-over-year, Casino And took then then margin that of discuss what you others? margin the either at further any that initiatives nice at you actions increases quarter-over-quarter other led some to or property underway through and can Okay Edmonton? for that

Erwin Haitzmann

I Basically I not say of we we thing could And related go would then take matter and we the the details as the through then likely here. fact that's something. always than probably always say a only find [Indescernible] more

David Bain

Mile, I freshly traffic designed? free the shuttle like of counts release expected guess I details Outlet from trips Airport, saw that number or any Airport's is is this have or potential. flow the on creates that nice that just at point there final and take Are the a anything obviously mall would there too Okay that you passenger that or press will to Edmonton on to Century patrons International the

Peter Hoetzinger

They market airport, to fun do for in It's literally restaurants, day do what the trip what they the haven't day in out the and to their all think planes in lots yet. officials Yes, racetrack, center, Edmonton minute we to there's seen even hour and going next it's then the with early. at really too communities obviously - and if amenities market they people in to or golf even like shopping, these smaller create city the want fly but play for Yes. a morning, not Western the to want a really Edmonton. commuter small better airport within their next this had that want Canada. evening go that any detail they're successful one in for even at that maybe too airport they from XX the or fly early International have us. destination There's to this the Actually go and people distance is of

Operator

next of from Please comes question Boyer Your Brad state your Stifel. question.

Brad Boyer

Thanks for taking guys. the questions

some just until I correctly Were I margins. year? get here, want timeframe be to into the of they're the you going there that of noise Peter make sure still one this Polish kind First on saying September that heard to you you

Peter Hoetzinger

Yes, yes.

Brad Boyer

expect kind this pressure see of that so of through some kind first and Okay should we is of there the fair? continued year to half

Peter Hoetzinger

That's fair to say, yes.

Brad Boyer

at of helpful? then second and on could give Warsaw things are going the would you to Hilton Okay back update how Poland that kind just us be ramping an

Peter Hoetzinger

back sometimes cost really like you move said re-licensing and double it's normal that EBITDA in that XX% to cycle we continuing that by for It's of XX% for QX. premises quarter for costs increased in higher keeping digit ramp. have XX%. about previous month, if is pressure in and the the in $X the had had the in is us about Yes. the place and the sometimes the ramp I as casinos that those margins we between staff up just the place because between are under re-licensing would anticipated, over ramp the review. two as have But million it's this whole XX%; issues this we nice situation always Poland on the And One also a low

So strengths are overall that and running. the the okay we are of really with casinos up

Brad Boyer

Okay, be that's to around would then last sort growth great intermediate longer-term just your for of and me one initiatives. the it

growth this guys you amount but have share your Mile, about Mile could Thank you. project you there. kind if were Bath how Just here curious and could on on the beyond with the plate some you a point? perspective wanted some initiatives Obviously, perspective at of if see you provide to decent thinking just

Peter Hoetzinger

few But it teams is and hope able be within really one project growth that announce always with now. some months summer. a to basket this new to that this the more is online other that plus We additional there We only that completed around exciting obviously traction be well. is should coming from is collecting there for at then year. as one And also expect in be close project be and Bermuda to least to each coming

Operator

question. Your Please Craig next Malouf Capital. Hallum your of question state comes from Mike

Eric Stine

on the about and taking bit in Mike. questions. Thanks I when just already timeframe might more is little If over know Hi, respective kind I go licenses of for but feel it a on bit guys, remind in you us hear of Eric if are limbo drill into for a talked you could many your right Poland. now? could those licenses this you it's back how kind my of

Peter Hoetzinger

please. Erwin

Erwin Haitzmann

Yes.

one one Krakow already are then and pending deal this XX April opened Lodz, have in plan this June the Wroclaw year and Poznan. and open Warsaw, for applications We on on for to Katowice April in and we Plock,

Eric Stine

Okay, you to kind and then back confidence of expect you get kind be what those up once running? we able revenue those of run and what let then that might great guys and are have rates renewed

Erwin Haitzmann

we making revenues we now-- and Lodz, indication the right. that future you portfolio Krakow, with Poznan know Plock, that's assumptions a had about for Warsaw basis calculating good our good would and for would Warsaw, history and --the and revenues, be already to would in assume also regard the

Eric Stine

I am sorry

Erwin Haitzmann

also that our You're familiar with Warsaw now. doing we're numbers

Eric Stine

experienced historical real know strengths phrase Right, to better sort I the running you guess despite operations? okay, the of change it get up list the when back in of so no and numbers your you expected from guys those current have way

Erwin Haitzmann

grow essence we a hopefully would we the it No, earlier our always -- market always Warsaw. in expect really always best premises second would same after .Having wouldn't but Katowice be so can we said yes said that, try we different -- to operate we whole

should Katowice be April expect we contributor. a have real also to starting that So intake good in and

Eric Stine

closing the of I that you can go open to current if that of to Century closing? Downs if sense, QX racetrack ask over talk you impact Century the time ratios but frame that you Mile the Century the I and expected impact if to incremental impact the to Make I you so expected great. about when Mile Again, existing think then to suppose just is And said about have?

Peter Hoetzinger

really Century is markets. separate any the market two facility which two been Park is a three in this is separate hours Park north be overlap. because Northlands completely it's from over where half Downs is There on This of that no impact not almost Northlands years. Edmonton Calgary, and One is will a in is has and closing operating is and for

have happen market, few machines racetrack the our only it approximately, because that south of they very the Park Northlands casino. impact digit from close should will I Edmonton the we Edmonton probably is operate between XXX and the of go from believe over when said we that Casino double within a Casino through our is will line. Now open that EBITDA the benefit in very XX% Century existing closing Edmonton well Edmonton. substantially will have is that And to which Mile XX% because which Northlands Park a And close minutes fantastic Century an Century impact revenue right to and

Eric Stine

EBITDA I bit I from we just might a that? XX% top able drill can revenues if down ask for could to that that of then end the question the to be you in of May. about open if the will in mentioned What know and great me great. you on UK. expect final kind return but You trying That's I line I are Casino Bath the

Peter Hoetzinger

expect EBITDA Yes. XX% we have million and return. All in all, in we $X about

between and in expect there about the to and X.X X EBITDA that mid-XXs. also margins that's So the generate we

XX. So should around be the revenues

Operator

call Mr. now questions time. There at to no further I'll Hoetzinger. are the return this

Peter Hoetzinger

Thank your Casinos for in your in Thank the call. interest everybody. you Central and you, participation

of Goodbye. of our visit recording call, at the financial the please section For cnty.com. website side

Operator

you for This attending. concludes Thank conference call. today's

Century Casinos (CNTY) 9 Mar 182017 Q4 Earnings call transcript