The Firm’s third quarter 2020 outcomes have been considerably impacted by the acquisition of Mountaineer On line casino, Racetrack & Resort, Century On line casino Cape Girardeau and Century On line casino Caruthersville (the “Acquired Casinos”) in December 2019.
In late 2019, an outbreak of COVID-19 was recognized in China and has since unfold all through a lot of the world. Between March 13, 2020 and March 17, 2020, the Firm closed all of its casinos, resorts and different services to adjust to quarantines issued by governments to comprise the unfold of COVID-19. The Firm’s Polish places reopened on Might 18, 2020 and its North American operations reopened between June 1, 2020 and June 17, 2020.
Though the Firm’s outcomes of operations and money circulation improved considerably within the third quarter of 2020, the COVID-19 pandemic has had an opposed impact on the Firm’s outcomes of operations and monetary situation for the 9 months ended September 30, 2020, and the Firm expects this case will proceed to have an opposed affect on its outcomes for the rest of 2020 and maybe into 2021. The length and supreme affect of the COVID-19 pandemic in any other case stays unsure.
The Firm’s casinos have assorted their operations primarily based on the governmental well being and security necessities within the jurisdictions by which they’re positioned. In Colorado, every metropolis has completely different gaming ground restrictions. In Cripple Creek, the total slot ground is open however desk video games are anticipated to stay closed by way of 2020. In Central Metropolis, the on line casino is presently working roughly 65% of the slot machines and desk video games are reopened, except for craps and roulette which closed in October 2020. For each Colorado cities there are capability restrictions inside the casinos and alcohol gross sales should cease at midnight however the casinos are capable of function 24/7. In Missouri, the total gaming ground is open, hours of operation are decreased, and meals shops which have reopened have restricted working hours. In West Virginia, the vast majority of the gaming ground has reopened, the gaming ground is restricted to machines which are six toes aside or with limitations, meals and beverage shops have reopened with restricted hours of operation, the conference house stays closed and is anticipated to stay closed by way of 2020, hours of operation are restricted to 10:00 a.m. to 2:00 a.m., there are capability restrictions inside the on line casino, and the resort is working with restricted rooms out there. In Canada, the gaming flooring are presently working roughly 60% of the whole gaming machines, hours of operation are restricted to 9:30 a.m. to three:00 a.m., there are restrictions on spectators on the racetracks, and the resort and showroom in Edmonton stay closed. In Poland, the gaming flooring are absolutely reopened, alcohol gross sales are presently suspended and there are capability restrictions inside the casinos.
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