Affinity Gaming reports net income of $522,000 in 4th quarter - almost $4 million less than previous year
Affinity Gaming, which owns Terrible's and three casinos in Primm, saw its profits drop by almost $4 million from the end of 2011 to the end of 2012.
The company today reported net income of $522,000 on revenue of $97.7 million for the last quarter of 2012, which ended Dec. 31. That compares to income of $4.2 million on revenue of $93.4 million for the same period a year earlier.
The company’s Nevada operations showed a 4.1 percent decline in revenue, to $60 million, attributed to declining fuel sales and operations at the company’s Primm sites. In addition to operating two Terrible’s casinos in Southern Nevada, the company owns Whiskey Pete’s, Buffalo Bill’s and the Primm Valley Resort in Primm and the Rail City Casino in Sparks.
Affinity offset the slump with $6.9 million in revenue from three casinos the company acquired and began operating in Black Hawk, Colo.
In addition to the Nevada and Colorado properties, Affinity owns three Midwest riverboat casinos – two in Missouri and one in Iowa.
For all of 2012, Affinity reported a loss of $1.2 million on revenue of $403.2 million, compared with net income of $6.5 million on revenue of $378.6 million in 2011.