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Century Casinos Surprises Equity Investors
COLORADO SPRINGS, CO --
Century Casinos, Inc., based in Colorado, announced 4th quarter and 2007 fiscal-year earnings today. The small gaming company, one which possesses a market cap of only around $85 million USD, surprised investors with better than expected numbers.
Sales were up nearly 30% over figures released in the same quarter of 2006. With their ability to reduce operating expenses, the new sales resulted in 75% higher profits, numbers which are making investors really happy.
Led by company president Erwin Haitzmann, Century Casinos has a good reputation as being a quality company. Despite the solid earnings report today, the company's stock fell over 5% in afternoon trading. Most analysts attribute the loss to the overall recent slump in the Casino and Gaming sector.
"The gaming industry aas outperformed the S & P 500 for the past five straight years. That type of a streak cannot last forever, especially with people across the globe spending less in these uncertain economic times", said Courtney Michael, a day-trader who lives outside of Denver who closely follows the casino and gaming industry.
Century Casinos Inc. has 12 casino establishments across the world. Four of the casinos are in North America, the rest are scattered among the continents. A major piece of their puzzle is a large set of casino cruiselines which operate in the Oceans.
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