Century Casinos Stock Surges Following Strong Earnings Amid Maryland’s Online Gaming Expansion
Century Casinos’ stock (NASDAQ: CNTY) is on the rise, jumping 12% after a solid earnings report for the third quarter. This positive momentum has continued, with shares hitting their highest level since January. Analysts are optimistic about the company’s growth prospects, predicting further increases in the coming year.
While Century Casinos celebrates its success, the casino industry faces competition from digital platforms. Although real-money online casinos are not yet legal in Maryland, the state is moving in that direction. A bill (HB1319) to allow online casino gaming was approved by the Maryland House of Delegates earlier this year, but did not pass the Senate. Prospects for legalization are slim until 2026, pending voter approval.
In the meantime, many Maryland residents are turning to offshore and Bitcoin casinos to access a wider variety of games. These platforms offer fast payouts, bonuses, and free spins, making online gambling more attractive. Players can also use cryptocurrencies like Bitcoin for quick, private, and secure transactions, accessing these platforms from anywhere in the world.
Despite the rise of online casinos, Century Casinos’ recent success highlights the value of well-managed, land-based casinos. The acquisition of Rocky Gap Casino in Maryland has been a significant factor in Century Casinos’ stock growth. Investments in upgrades like new slot machines, dining options, and a sports lounge have attracted more visitors to Rocky Gap, boosting the company’s overall performance.
With the stock price increasing by 55% in the last month, experts like Jeffrey Stantial from Stifel believe Century Casinos’ stock is a good investment. Stifel offers investment services and believes the stock price could rise even further, from $4 to $5, representing a 25% increase.
Rocky Gap Casino, with its 630 slot machines and 16 table games, is a popular destination in Maryland, contributing millions to the state’s gaming revenue. In addition to tax revenue, the casino supports local businesses and tourism, attracting over half a million visitors annually. Events like the recent Outdoor Recreation Summit organized by the Maryland Department of Natural Resources further enhance community engagement and economic support.
Century Casinos’ success extends beyond Maryland, with locations in Nevada, West Virginia, Missouri, Canada, and Poland. The positive performance of Rocky Gap Casino, paired with success in other key properties, has boosted investor confidence, driving overall stock growth and contributing to the state’s thriving casino sector. Overall, the industry contributes over $1.5 billion to Maryland’s economy, providing entertainment, employment, and substantial tax revenue.
