Affinity Gaming has cited the impact of marketing and operating efficiencies as the main reason behind year-on-year financial growth during the three months through to September 30.
Revenue in the third quarter amounted to $102 million (€94.9 million), up 2.7% on the $99.2 million posted in the same period last year.
Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) also grew by 33% year-on-year to $16.6 million, while operating income hiked by 73.6% to $9 million.
Affinity’s performance in the third quarter has also enabled it to post significant year-on-year growth for the nine months through to September 30.
Revenue in the nine-month period is up 2.3% year-on-year to $300.4 million, with adjusted EBITDA also increasing by 34% to $52.5 million,
Operating income in the first nine months of the year has also increased from $18 million to $29.9 million.
Affinity noted that its full-year financials expectations will remain the same as previously announced.
Michael Silberling, chief executive of Affinity, said: “Our strong third quarter results reflect management’s ongoing initiatives to drive operating efficiencies and adjusted EBITDA growth along with our successful rationalisation of marketing promotions and spending across the portfolio.
“The 2.7% rise in quarterly net revenues, combined with our disciplined operating approach, drove a 33.0% increase in adjusted EBITDA to $16.6 million, reflecting growth in each of our three regional operating segments and our third consecutive quarter of adjusted EBITDA growth of 30% or greater.
“In addition, our success in driving operating efficiencies led to a 370 basis point improvement in adjusted EBITDA margin to 16.3%.
“With strong third quarter and year-to-date results, we remain confident of our full-year guidance for $65-$68 million in adjusted EBITDA, which at the mid-point of the range would represent a 31.6% increase over 2014 full year results.”
source : www.igamingbusiness.com
