Affinity Gaming divests three non-core casino properties in Northern Nevada
1 February 2013LAS VEGAS, Nevada -- (PRESS RELEASE) -- Affinity Gaming announced today that it has closed the sale of its casino properties located in Reno, Verdi and Dayton, Nevada to Truckee Gaming, LLC, a limited liability company owned by a group of private investors.
“The divestiture of these three non-core assets marks an important step in our future,” said David D. Ross, Chief Executive Officer of Affinity Gaming. “We can now focus our management and resources almost exclusively on the operation and development of properties that provide the most meaningful returns to our shareholders.”
The Company identified the Sands Regency Casino Hotel in Reno, Gold Ranch Casino and RV Resort in Verdi, and the Dayton Depot Casino as non-core assets as part of its strategic plan over two years ago. The three properties were specifically carved out in the Company's Credit Agreement to allow for simplified divestiture and reinvestment of proceeds.
Mr. Ross concluded, “We want to thank all of the employees at the Sands, Gold Ranch and Dayton casinos for their hard work and dedication over the past several years, and wish them all success in their future endeavors.”