Century Casinos, the Colorado-based gaming company, has finalised a deal with the new cruise company Diamond Cruise International to operate a new casino on the high seas. The casino will be on the Glory Sea as it makes its way from Shanghai in China to Shimonoseki in Japan via a stop in South Korea.
Diamond Cruise International was established in the Bahamas in the summer of 2015. They are headquartered in Shanghai. Diamond Cruise is a subsidiary of the Tai Hu Cruise Management Company (THCM). THCM is expected to be listed on China’s new OTC Stock Exchange sometime later on in 2016.
Suzhou Tai Hu Travel (THT) own THCM. THT is a Chinese travel agency that was established way back in 1993.
Diamond Cruise recently acquired the 2001-built Explorer. It has sailed for Celestyal Crusies in 2015. Prior to that she operated for Semester at Sea.
Century Casinos is a well-established name in the gambling industry that operates popular gambling establishments in Colorado as well as in the Canadian cities of Edmonton and Calgary. The company also runs more than a dozen cruise-based gambling operations on ships owned by Windstar Cruises, Thomson Cruises, and TUI Cruises.
The company has been focusing on consolidating its land-based gambling business by spending money on major renovations. It has also made strategic investments to expand its presence in Canada. The company also has interests beyond the United States and Canada, with a 33% stake in Casinos Poland Ltd., which operates eight casinos in that country.
Incidentally, it has sold off its properties in South Africa and the Czech Republic. Its plans for ship-based casinos include two additional cruise ships of 2,500 capacity each called Mein Schiff 5 (third quarter 2016) and Mein Schiff 6 (2017). The company will also operate gambling services on the 2067 capacity TUI Discovery later this year.
The Glory Sea will enable Century Casinos to cater to the fast expanding Chinese market. The vessel will be able to carry 1,200 people and each cruise will take four days. It will have a beautiful casino featuring 16 gaming tables in addition to 40 slot machines. Passengers, including VIP players, will be able to enjoy roulette, baccarat, blackjack, poker, and the like in the cruise ship casino.
Diamond Cruise International has plans to expand operations in this industry by acquiring more ships in the next five years. The Chinese enjoy gambling tremendously and this industry is showing no signs of slowing down in the country.
Century Casinos co-CEOs Peter Hoetzinger and Erwin Haitzmann released a statement about the latest tie-up in which they indicated their excitement about entering the lucrative and fast-expanding gaming market in Asia in a cost-effective manner. They also confirmed that the deal with Diamond Cruise International was a long term one since they are eager to grow the business organically over time.
The company announced positive financial results for the second quarter of 2016. Net operating revenues jumped 7% over the first quarter’s revenues to touch $32.5 million. The company’s adjusted EBITDA for the same period also increased 18% to become $5.6 million. It credits its steady growth with the strength of its operations and the presence of casinos in different parts of the world. The company will also look to expand operations by acquiring more properties.
Overall, Century Casinos is a very reliable company to bet on since it seems to have the right plan in place to expand steadily and continue to provide good profits. Whether they tie up with start-ups or well-established companies, they know the direction of their business and seem to be heading there as of now.
We will have to wait and see where they are five years from now!