Casino operator Affinity Gaming reports flat quarterly revenue
Las Vegas-based Affinity Gaming, operators of 11 casino properties, including four in Southern Nevada, reported flat fourth-quarter revenue results over 2014 on Wednesday.
Affinity, owners of the Silver Sevens in Las Vegas and three Primm properties, reported net revenue of $92.5 million for the quarter that ended Dec. 31, a 0.7 percent increase over the same quarter a year ago.
The company reported its fifth straight quarter of adjusted cash-flow growth.
“Our strong fourth-quarter results and our fifth consecutive quarter of adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) growth reflect management’s ongoing initiatives to drive operating efficiencies along with our successful rationalization of marketing promotions and spending across the portfolio,” CEO Michael Silberling said in a statement announcing the company’s earnings.
For the year, Affinity ended with net revenue of $393.3 million, up 1.9 percent from the previous year. Cash flow grew 29.8 percent or $15 million to $65.6 million in 2015.
The company’s Nevada operation had the best quarterly performance for the company with net revenue up 2 percent to $55.2 million. In addition to the Southern Nevada properties, Affinity runs the Rail City Casino in Sparks.
The company has a Midwest division with two properties in Missouri and one in Iowa and a Colorado division with three casinos in Black Hawk, both of which reported declines revenue for the quarter.
Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Find him on Twitter: @RickVelotta.
