Affinity highlights regional growth as finances rise in 2015
Affinity Gaming has cited growth in its core markets as the main reason behind a year-on-year increase in key financials during the 12 months to December 31, 2015.
Net revenue for the full year amounted to $393.3 million (€352.6 million), up from the $385.9 million posted in the previous 12 months.
The company’s operations in Nevada once again proved to be the main source of income, generating $233.3 million of the total figure, up from $226.5 million last year.
Affinity also noted year-on-year revenue growth within its businesses in both the Midwest and Colorado.
Elsewhere, adjusted earnings before interest, tax, deprecation and amortisation (EBITDA) for the company also increased from $50.5 million in 2014 to $65.6 million in the past year.
Again, Nevada led the way with $40.2 million of the total while the Midwest and Colorado also experienced growth during the period.
Affinity also noted an increase in corporate expense and other spending in 2015, with this figure up to $18.7 million.
Michael Silberling, chief executive at Affinity, said: “Our operating improvements were broad based as all of our properties achieved year-over-year adjusted EBITDA growth in the quarter.
“Overall results benefited from increased customer counts and trips at higher play levels combined with our ongoing focus to engage with customers that generate profitable revenue.
“While our 2015 success has been impressive, we believe our plans to implement additional operating efficiency initiatives will continue to deliver material improvements in our consolidated adjusted EBITDA and margins.”
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