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Best of Howard Stutz

Gaming Guru

Howard Stutz
 

Affinity Gaming increases revenue, cash flow in final quarter of 2014

30 March 2015

LAS VEGAS -- Casino operator Affinity Gaming ended 2014 on a positive note, growing both revenue and cash flow for the three-month period that ended Dec. 31.

The Las Vegas-based company said Friday its net revenue for the fourth quarter was $92.3 million, a 2.6 percent increase over the 2013 fourth quarter. Cash flow for the company grew 1.2 percent in the quarter, but would have increased 13.5 percent if corporate overhead were excluded.

Affinity Gaming operates casinos in Nevada, Colorado, Iowa and Missouri. In Nevada, where the company owns the three Primm properties and the off-Strip Silver Sevens Hotel & Casino, revenue grew 3.8 percent to $54.1 million.

Affinity Gaming CEO Michael Silberling, who took over last summer, said the company cash’s cash flow performance was the first positive quarter since 2012. He said the company is targeting ways to grow revenue and lower costs.

“We expect that our efforts to further strengthen the leadership team and enhance analytics in our marketing programs will enable us to continue to improve the business, Silberling said.

For all of 2014, net revenue declined less than 1 percent to $390.5 million.

Affinity Gaming is privately held but has publicly traded debt.