Affinity up despite Nevada setback

Net revenue in the first quarter amounted to $97.2 million (€87 million), which is slightly up on the $96.6 million posted in the corresponding period last year.

Affinity’s operations in Nevada continued to drive revenue in Q1, although the $56.3 million generated by business in the US state is lower than the $57 million achieved in the same period last year.

The operator noted that it was able to achieve slight year-on-year growth across its operations in the Midwest and Colorado.

Elsewhere, Affinity was able to record year-on-year growth in terms of adjusted earnings before interest, tax, depreciation and amortisation (EBITDA), up from $14 million in the opening period of last year to $18.2 million this year,

Total operating income increased from $6.8 million to $10.8 million while total shares outstanding also increased slightly to 20.3 million.

“The first quarter results reflect a number of positive macro factors including a stable consumer, improved year-over-year weather conditions, increased drive in traffic from California along with operational changes that impacted our bottom line,” Silberling said.

“The quarterly results reflect the early success of our previously announced initiatives designed to enhance efficiency and improve effectiveness of our promotional efforts, and we believe we are well-positioned to continue these performance levels in our business.

“We are especially pleased with the progress the team has made at our Primm operations in Nevada.

“In addition, we are happy with the results achieved at our Colorado operations both sequentially and on a year-over-year basis.

“We look forward to continued improvements across the entire portfolio of operations.”