Hotels, Restaurants and Leisure
Company Overview of Affinity Gaming
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
Key Executives for Affinity Gaming
Chief Executive Officer and Director
Senior Vice President and Regional General Manager - Midwest
Executive Vice President of Terrible's Primm Valley Resorts & Casinos and General Manager of Terrible’s Primm Valley Resorts & Casinos
Compensation as of Fiscal Year 2014.
Affinity Gaming Key Developments
Affinity Gaming Announces Management Changes
Aug 26 14
Affinity Gaming announced that it has hired Michael Silberling as Chief Executive Officer. Mr. Silberling, who succeeds David Ross, effective immediately, has also been named a member of the Board of Directors. Mr. Silberling joins Affinity from a senior leadership position at Caesars Entertainment Corporation, formerly known as Harrah's Entertainment Inc. Most recently, Mr. Silberling concluded an assignment in the U.K. as President of International Operations where his hands on leadership style resulted in the successful competitive repositioning and turnaround of more than 12 properties in seven countries. The company also announced that the Board has been reconstituted to include shareholder appointees James Zenni, Andrei Scrivens and James Cacioppo. All appointees are subject to requisite licensing and regulatory approval. Mr. Zenni is President and Chief Executive Officer of Z Capital Partners LLC. Mr. Scrivens is a Managing Director of Z Capital Partners LLC and leads its investment activities in gaming, hospitality and leisure. Mr. Cacioppo has served as Managing Partner and Portfolio Manager of One East Capital Advisors, L.P.
Affinity Gaming Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Capital Expenditure Guidance for 2014
Aug 14 14
Affinity Gaming reported earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total net revenue of $99.621 million compared to $100.312 million a year ago. Total adjusted EBITDA was $12.7 million compared to $17.773 million a year ago. Total capital expenditures were of $2.586 million compared to $9.868 million a year ago. Operating income from continuing operations was of $5.943 million compared to $9.074 million a year ago. During the second quarter of 2014, total capital expenditures were $2.6 million, which consists of general maintenance and slot capital.
For six months, the company reported total net revenue of $196.191 million compared to $201.358 million a year ago. Total adjusted EBITDA was $26.634 million compared to $35.918 million a year ago. Total capital expenditures were of $3.705 million compared to $14.408 million a year ago. Operating income from continuing operations was of $12.789 million compared to $20.015 million a year ago. Results for the six months ended June 30, 2014 were most significantly impacted by continued softness in the regional gaming markets and by the constrained discretionary budgets of the Company's target customers. Increased promotional and marketing expense, coupled with the severe weather impact through April 2014, negatively impacted Adjusted EBITDA when comparing the six months ended June 30, 2014 to the same period in the prior year.
The company expected capital expenditures to be in the range of $14 million and $15 million.
Affinity Gaming to Report Q2, 2014 Results on Aug 14, 2014
Aug 7 14
Affinity Gaming announced that they will report Q2, 2014 results at 9:00 AM, Eastern Standard Time on Aug 14, 2014
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