Affinity Gaming operates casinos in the United States. It also provides consulting services to the operator of the Rampart Casino at the JW Marriott Resort in Las Vegas. The company operates 11 casinos, including 5 in Nevada, 3 in Colorado, 2 in Missouri, and 1 in Iowa, as well as 3 gas station/convenience stores in Nevada and a lottery outlet in California. As of December 31, 2013, its casino operations consisted of approximately 283,000 square feet of gaming space with 7,691 slot machines and 134 table games, as well as hotel operations comprised 3,124 hotel rooms. Affinity Gaming is headquartered in Las Vegas, Nevada.
3755 Breakthrough Way
Las Vegas, NV 89135
Affinity Gaming Announces Executive Changes
Feb 20 15
On February 13, 2015, Donna Lehmann, Senior Vice President, Chief Financial Officer and Treasurer of Affinity Gaming, notified the company of her resignation according to the terms of an agreement executed by the company and Ms. Lehmann on February 17, 2015. Marc H. Rubinstein elected to remain as Senior Vice President, General Counsel and Secretary of the company in connection with the execution of a retention agreement on February 17, 2015 between
the company and Marc H. Rubinstein P.C., for which Mr. Rubinstein serves as principal.
Affinity Gaming Announces Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014
Nov 13 14
Affinity Gaming announced consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company recorded net revenue from continuing operations of $99.5 million compared to $99.1 million during the same quarter of 2013, an increase of $0.4 million, or 0.3%. Adjusted EBITDA was $12.5 million, compared to $15.7 million during the same quarter of 2013, a decrease of $3.2 million, or 20.4%. Adjusted EBITDA, excluding corporate expense, decreased $1.2 million, or 7.2%. Total capital expenditure was $4,467,000 against $6,713,000 a year ago. Operating income from continuing operations was $5,210,000 against $5,653,000 a year ago.
For the nine months, the company's total revenue was $295,653,000 compared to $300,481,000 a year ago. Operating income from continuing operations was $17,999,000 against $25,668,000 a year ago. Adjusted EBITDA was $39,152,000 compared to $51,650,000 a year ago. Total capital expenditure was $8,172,000 against $21,121,000 a year ago. Results have been most significantly impacted by the continued softness in the regional gaming markets, by the severe winter weather in the first quarter of 2014, and by the constrained discretionary spending of the Company's target customers. Increased promotional and marketing expense negatively impacted Adjusted EBITDA, particularly in the first two quarters, as aggressive offers designed to increase revenue through additional trips, or increased spend per trip, resulted in margin erosion.
Affinity Gaming to Report Q3, 2014 Results on Nov 13, 2014
Nov 4 14
Affinity Gaming announced that they will report Q3, 2014 results at 1:00 PM, US Eastern Standard Time on Nov 13, 2014