, /PRNewswire/ -- Century , Inc. (the "Company", "we", "us", or "our") (Nasdaq Capital Market®: CNTY) today announced its financial results for the three months ended . Compared to the three months ended : "We anticipated a challenging first quarter due to continuing construction disruptions and the closure of three of our in for some or all of the quarter.
The quarter was further impacted by disruptions from severe weather at the majority of our US . Cash payments of for taxes related to the sale and leaseback of our properties and a one-time principal paydown of debt as well as in property and equipment purchases decreased our overall cash balance," Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century remarked. "Our positive outlook for the second half of 2024 into 2025 remains unchanged.
Our increased spend on capital projects throughout our properties is expected to end over the summer. Our largest capital project (fully funded by VICI Properties Inc.), the land-based in , is also expected to be completed by the end of the year.
By 2025, all of our operations should be in great shape with no more construction disruptions and all in fully operational. We are also excited about the performance of The , our new hotel at Century , which has exceeded our expectations so far," Messrs. Haitzmann and Hoetzinger concluded.
– On , the Company opened its hotel in , The . The is a 69 room, six-story building with 68,000 square feet that is adjacent to and c.
