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Nevada Gold & Casinos Inc. Message Board

  • sheetwise sheetwise Jul 1, 2013 4:11 PM Flag

    Revolving loan

    The revolver is lower this year at 1.5 million vs. 1.7 million.
    I guess that's because they now have 811 machines compared to 950 machines at year end in SD.
    Hopefully closing the 2 places will improve profits, but it seems at least for now SD is NOT a growth situation.

    GLTA

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • I will agree I was "bummed" to hear of the decrease from 950 to 811. I even went back and looked over the past year's numbers from South Dakota. The last year trailing ebita (from feb 2012 to Jan 2013) for south dakota segment is 1,099,362 dollars. The segment is profitable.........and under 5x ebita multiple.

      Now with closing Bourbon Street and the Green Room they are taking away the machines that were making them lose money in their otherwise profitable business and shifting that revenue to their other machines in the area (and also losing some revenue to competitors). In doing so this segment has now become more efficient.

      I do want to point out that there is still ways to grow in south dakota. There are still some small casinos in town that could partner with nevada gold and use the same rewards points program. Also the south dakota gaming commission could also raise the maximum amount a player could wager in a slot. It currently is at 2 dollars per play. If it were to be raised to 5 dollars per play, it would mean increase in revenue for the company as well as the state. Keep in mind, the state is going to get less revenue from this decrease in number of slots. Decreased revenue may make the state consider this option.

      Good luck everyone. Will await 10K

 
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