Published
Financial

Affinity Gaming remain optimistic despite Q3 revenue decline

As a

affinitygaming
result of refocused promotional campaigns and marketing programs, Affinity Gaming reports a slight rise in operating income in the Q3 of 2016.

The Las Vegas-based casino operator reported its strongest quarter of the year for property level adjusted cash flow, with its operating income for the July to September period up by 0.7% to $9.1m, compared to the $9.04m of the same period. However, the company was hit by a decline in net income, which dropped by 161.2% to a loss of $1.2m.

Affinity Gaming’s performance in Q3 reported a total net revenue for the nine months to the end of September at $268.8m, 4.5% lower than at the same point in 2015.

Despite the drop in revenue, Affinity Gaming CEO, Michael Silberling says “Over the last two years, we have successfully executed our strategic plan targeted at significantly improving margins and returns from the Company’s operating assets.

“This has been accomplished by rebuilding our executive team with new leadership across most operating departments, executing against a new set of operating principles, simplifying our capital structure, and lowering the cost of capital and de-levering the business.

“The 2016 third-quarter adjusted EBITDA growth is on top of our 33% growth in 2015 third quarter adjusted EBITDA and marks our eight consecutive quarter of adjusted EBITDA improvements.”

Premium+ Connections
Premium

Sport Generate

 
 
Premium

Digitain

 
Premium

Galaxsys

 
Premium

Imagine Live

 
Premium

1xBet Partners

 
Premium

Lynon

 
Premium

PIN-UP Partners

 
Premium

Revsharks

 
Premium

GammaStack

 
Premium

RISK

 
Premium Connections
Consultancy

SCCG Management

Executive Profiles
Zeal Network SE

Stefan Tweraser

VIP Play

Les Ottolenghi

Scientific Games

Keshav Pitani

Social & App

Spribe CEO exclusive: Simplicity is the foundation

Spribe CEO David Natroshvili speaks to Gambling Insider abou...

Redefining iGaming: A history of crash games

Crash games is a growing vertical that has taken gambling by...

A certain something: What makes crash games special?

Crash games. They’re simple, they’re easy to learn and,...

Smarter innovation to shape the future

Spribe CCO Giorgi Tsutskiridze discusses the past, present a...

Facing Facts: The corner of quarterly contemplation

With Q1 reports out across the industry, Gambling Insider co...

Taking Stock: A guide to key stock prices across the industry

Gambling Insider tracks prices from some of the industry’s...

15 years of Gambling Insider: From the Founders

Over the last 15 years, Gambling Insider magazine has interv...

15 years of Gambling Insider: The Awards over time

Global Gaming Awards Event Manager Mariya Savova gives us he...