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Stonegate Capital Partners Updates Coverage on Nevada Gold & Casinos, Inc.

DALLAS, TX / ACCESSWIRE / October 11, 2017 / Nevada Gold & Casinos, Inc. (NYSE American: UWN):


Nevada Gold & Casinos (NGC) is an established player in the gaming industry with mini-casino operations in Washington and slot route operations in South Dakota. These mini-casinos are complete with a bar, restaurant, and table games at each location. The Company also acquired the Club Fortune Casino in Nevada on November 30, 2015. Club Fortune Casino hosts a 25,000 square foot gaming area complete with roughly 440 slot machines, 7 table games, poker room, restaurant and two bars. The Company currently operates 604 slot machines in South Dakota, nine mini-casinos in Washington, and the Club Fortune Casino in Nevada. The Company was established in 1977 and is headquartered in Las Vegas, Nevada.


Nevada Gold & Casinos brings to the marketplace an interesting opportunity for investors looking to benefit from the casino and gaming industries without being directly tied to the Las Vegas area. With significant market share in niche markets throughout the Pacific Northwest United States and Nevada, NGC hopes to continue its growth by:

  • Increasing its geographic footprint into the lucrative Nevada gaming market with the accretive acquisition of Club Fortune Casino in Q3FY16, which will continue to dramatically increase revenue and profitability in the coming years due to Club Fortune's location and loyal customer base • Benefiting from further economic expansion as the gaming industry has a strong correlation to the state of the improving US economy
  • Continuing to increase its market share in geographic regions such as the state of Washington, where Nevada Gold & Casinos holds an estimated 18% market share
  • Operating in niche markets such as South Dakota, where NGC is the only slot route operator and has a long history with competitive market share
  • Growing its slot route operations throughout Deadwood as the city looks to invest $14 million into infrastructure and entertainment to increase tourism throughout the city
  • Continuing the trend of profitability since the end of the 2012 fiscal year
  • Using the Company's beneficial tax positions and increasing free cash flow to reduce debt on the balance sheet, fund future potential acquisitions, and buy back UWN Shares
  • Increasing the profitability and geographic reach by continuing to target acquisition opportunities to further develop its casino business and boost shareholder returns
  • Continuing to exhibit strong operational cost control measures such as continuing margin expansion throughout the business
  • Having recruited a highly experienced management team led by Michael Shaunnessy, who has a history of over 30 years working in world class hotel and casino management positions

We employ a scenario analysis using both a P/E and EV/EBITDA framework. The details are on page 7 of the full report. We note that we expect to see increases in both the top and bottom line in fiscal year 2018.

The full report can be accessed by clicking on the following link:


About Stonegate Capital Partners

Stonegate Capital Partners is a Dallas-based corporate advisory firm dedicated to serving the specialized needs of small-cap public companies. Since our inception, our mission has been to find innovative, undervalued public companies for our network of leading institutional investors who seek high quality investment opportunities.

SOURCE: Stonegate Capital Partners