Casino operator warns of default on part of debt

6 years 1 month 3 days ago Monday, July 07 2014 Jul 7, 2014 Monday, July 07, 2014 5:01:00 PM CDT July 07, 2014 in News
By: The Associated Press

LAS VEGAS (AP) - A casino operator with 11 properties in Nevada, Colorado, Missouri and Iowa is warning investors that it expects to default on a portion of nearly $383 million in long-term debt, but expects to fix issues with its lenders.

Las Vegas-based Affinity Gaming filed Securities and Exchange Commission documents last week saying it expected a default in its senior secured credit agreement.

The Las Vegas Review-Journal reports the company says it's working with advisers and lenders on a possible amendment, waiver or refinancing.

Affinity says its revenues for the quarter ending June 30 would be between about $96 million and $99 million, compared with $100 million a year earlier.

Affinity says it'll have a $900,000 expense associated with a data breach of its customer credit and debit card processing system.

 

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