Affinity Gaming experiences a drop due to economic conditions weakness
US land-based and online sportsbook Affinity Gaming has cited “soft regional gaming trends” as the reason behind a year-on-year drop in its third quarter operating results.
The posted net revenue of $99.1 million (€73.4 million) for the latest quarter through to the end of September, a 1.6% drop on the $100.7 million recorded in the corresponding period last year.
Adjusted earnings before interest, tax, depreciation and amortisation also suffered during the third quarter, falling 5.3% from $16.6 million in Q3 of 2012 to $15.7 million in the latest quarter.
Affinity’s results for the first nine months of 2013 have also taken a blow as a result of the latest figures.
The company’s revenue for the nine-month period now stands at $300.5 million, a drop of $5 million from the $305.5 million recorded in the same period last year. In addition, EBITDA is also down from $55.6 million in the first nine months of 2012 to $51.7 million this year.
“Third quarter 2013 operating results were primarily impacted by continued soft regional gaming trends,” Affinity’s chief executive officer, David Ross, said. “Our customers remained affected by overall weak economic conditions.”