The company is currently working with lenders to resolve the issue
Affinity Gaming predicts default on part of debt
(US).- Affinity Gaming, owner of 11 properties in Nevada, Colorado, Missouri and Iowa, is warning investors that it expects to default on a portion of nearly USD 383 million in long-term debt but expects to fix issues with its lenders.
2014-07-09
Reading time 37 seg
(US).- Affinity Gaming, owner of 11 properties in Nevada, Colorado, Missouri and Iowa, is warning investors that it expects to default on a portion of nearly USD 383 million in long-term debt but expects to fix issues with its lenders.
The company filed Securities and Exchange Commission documents last week saying it expected a default in its senior secured credit agreement.
A published report says the company says it's working with advisers and lenders on a possible amendment, waiver or refinancing.
Affinity says its revenues for the quarter ending June 30 would be between about USD 96 million and USD 99 million, compared with USD 100 million a year earlier.
Affinity says it'll have a USD 900,000 expense associated with a data breach of its customer credit and debit card processing system.
In Las Vegas, Affinity operates the Silver Sevens; in Primm, it operates Buffalo Bill's, Primm Valley and Whiskey Pete's. Its other Nevada property is the Rail City Casino.
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