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Casino News:

  Three casinos of Affinity Gaming LLC put on sale

Three Northern Nevada casinos-Terrible’s casinos Dayton in Dayton, Sands Regency in Reno with 800 rooms and a minor Gold Ranch in Verdi have been put on sale for $19.2 million. All these casinos belong to Affinity Gaming LLC-the Las Vegas based company. The selling price can be modified and this transaction requires consent of the gaming administrators.

The casinos will be sold to Truckee Gaming LLC which is managed by Ferenc Szony, the Chief Operating Officer of Affinity. He will resign from Affinity to take over the operations of Truckee. He served as CEO of Sands Regency right from 1997 till it was acquired by Herbst Gaming in 2007. Thereafter, he served as president of Herbst till 2009 when Herbst shut down due to bankruptcy and Affinity acted as its beneficiary.

Other prospective purchasers are also asked for their tenders till 30th Sep. for the three casinos. As stated by David Ross, the CEO of Affinity the current deal shows that the company has finished getting rid of insignificant properties that were recognized two years back and the same has been implied by accomplishment of latest reorganization of finances by the company. Now the administration will be able to concentrate on long-lasting escalation and development plans and in distributing the maximum amounts to the investors.

The company has a fourth casino named Rail City in Sparks which is not put on sale due to its economically sound performance as informed by J. Christopher Krabiel, Chief Financial Officer of the company. Affinity also possesses casinos in Iowa, Missouri and Colorado. It is recognized for its Terrible’s hotel-casino in Las Vegas on Flamingo Road and multifaceted three casinos on Interstate 15 in Primm at the California border.


   2012-09-12






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