Affinity Gaming Sees Improved Revenue Throughout Locations
The Las Vegas -based hotel and casino operator, Affinity Gaming LLC, has seen a real improvement in their revenue throughout Southern Nevada as of late. The company has casinos in a number of different cities including Las Vegas, Henderson, Prim, northern Nevada, Colorado, Iowa, and even in Missouri. Its see most of its revenue come from the Southern Nevada area, which houses three of the company’s locations. The second quarter, the company generated a gross revenue of $70.9 million, a total jump of 5% over the second quarter of last year. The company said that despite the slow economy, which has been persistent since 2008 when the financial collapse first happened, the company has been able to increase revenues and continue to grow. The busted casino revenue amounted to a total of $1.3 million, or 4% overall.
“Competition for the Las Vegas local customer continues to be intense with highly competitive promotional campaigns. We have responded to this intense promotional environment by implementing targeted marketing campaigns aimed at repeat visitation,” Affinity stated in their most recent financial report.
The company also went as far as to project future growth. The net revenue of hard-earned $16.4 million was up from just $114.2 million over the second quarter of last year. In the quarter previous to this, the company lost a total of $1.8 million, showing that they have been able to rebound quickly. They also were able to jettison a total of $8.8 million in expenses, after refinancing their debt and extinguishing many activities that were costing the company a great deal. It will be interesting to see if the company is able to continue on this profitable path and continue to elevate their revenue. They have put a lot of effort into doing so, and through reevaluating their expenses, have been able to clear up a lot of previously wasted money.
There have been a number of different companies that have enabled a much more profitable lately, after having suffered through bad times recently. There many things that need to be taken into consideration as you are looking at cutting back on the expenses of a hotel, in order to make it more profitable. There many things that need to be looked at, and also you have to take the visitors experiences into account. People will stop coming to your casino if you are not providing the same experience that you did before, which is one of the many reasons that casinos are less likely to make the proper cuts in order to become more profitable. Oftentimes this can backfire.
Affinity has done an excellent job of making the cuts that make sense, and also allowing themselves to become much more fluid overall in terms of their assets. If you are a previous customer of Affinity, you would barely notice the difference after they have made the cuts that have helped them to become more profitable. They are a standard of excellence in the casino and gaming industry for companies that are looking to cut back on the amount that they are spending.
Atualizado em 26 de June de 2019.