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Affinity Gaming (AFGA) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2012

Affinity Gaming

CIK: 1499268 Ticker: AFGA
Exhibit 99.1



FOR IMMEDIATE RELEASE


AFFINITY GAMING ANNOUNCES THREE MONTH AND FULL YEAR RESULTS FOR THE PERIOD ENDED DECEMBER 31, 2012


Las Vegas, NV - April 1, 2013 -
Affinity Gaming (the "Company") today announced results for the three-month and full year periods ended December 31, 2012. For the full year 2012, net revenue from continuing operations increased $24.6 million, or 6.5%, to $403.2 million, compared to $378.6 million for the year ended December 31, 2011. For the full year 2012, income from continuing operations was $4.6 million, compared to $7.9 million for the full year 2011. For the fourth quarter of 2012, net revenue improved 4.6% to $97.7 million, from $93.4 million in the prior-year period. Income from continuing operations was $0.5 million in the fourth quarter of 2012, compared to $4.4 million in the prior-year period.

Fourth Quarter 2012 Highlights and Subsequent Events

The Nevada region adjusted EBITDA for the fourth quarter 2012 was $6.9 million, versus $7.2 million for the prior-year period. Net revenue earned during the fourth quarter decreased by $2.6 million, or 4.1%, primarily due to a $1.4 million decrease in fuel sales and related revenues at the Company's Primm, Nevada service stations.

The Midwest region produced adjusted EBITDA results for the fourth quarter 2012 of $9.6 million compared to $12.8 million in the prior-year period. Excluding $3.3 million of business interruption insurance proceeds recorded in the fourth quarter of 2011, year-over-year EBITDA in the Midwest region remained relatively unchanged.

Corporate expense for the fourth quarter 2012 of $3.4 million increased approximately $0.9 million from the prior-year quarter due mostly to one-time professional fees. For the full year 2012, corporate expense remained relatively unchanged at $10.7 million compared to 2011.

On October 19, 2012, the Company and key personnel received Colorado gaming licenses from the Colorado Limited Gaming Control Commission. Receipt of the licenses allowed the Company to take full operational control of its three casino properties in Black Hawk, Colorado on November 1, 2012.

On February 1, 2013 the Company 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 following information was filed by Affinity Gaming (AFGA) on Monday, April 1, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information Document
Consolidated Balance Sheets
Consolidated Statements Of Cash Flows
Consolidated Statements Of Operations
Consolidated Statements Of Owners' Equity (deficit)
Unaudited Condensed Consolidated Balance Sheets (parenthetical)
Accrued Expenses
Accrued Expenses (details)
Accrued Expenses (tables)
Assets Held For Sale
Assets Held For Sale (details)
Assets Held For Sale (tables)
Commitments And Contingencies
Commitments And Contingencies (details)
Commitments And Contingencies (tables)
Employee Benefit Plans
Employee Benefit Plans (details)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (tables)
Goodwill And Other Intangible Assets-future Amortization (details)
Goodwill And Other Intangible Assets-goodwill (details)
Goodwill And Other Intangible Assets-intangible Assets (details)
Goodwill And Other Intangible Assets-narrative (details)
Income Tax-provisions (details)
Income Taxes
Income Taxes (tables)
Income Taxes-deferred Tax Liabilities (details)
Income Taxes-effective Tax Rate (details)
Income Taxes-narrative (details)
Long-term Debt
Long-term Debt (details)
Long-term Debt (tables)
Long-term Debt Long-term Debt-long-term Debt Balances (details)
Organization, Consolidation And Presentation Of Financial Statements
Organization, Consolidation And Presentation Of Financial Statements (details)
Other Assets
Other Assets (details)
Other Assets (tables)
Property And Equipment
Property And Equipment (details)
Property And Equipment (tables)
Purchase Price Allocation
Purchase Price Allocation (details)
Purchase Price Allocation (tables)
Related Party Transactions
Related Party Transactions (details)
Related Party Transactions-general (details)
Related Party Transactions-lease Agreements (details)
Reorganization Items
Reorganization Items (details)
Reorganization Items (tables)
Restatement Of Prior Financial Statements
Restatement Of Prior Financial Statements (details)
Restatement Of Prior Financial Statements (tables)
Segment Information
Segment Information (details)
Segment Information (tables)
Selected Quarterly Financial Information
Selected Quarterly Financial Information (details)
Selected Quarterly Financial Information (tables)
Share-based Compensation
Share-based Compensation (details)
Share-based Compensation (tables)
Subsequent Events
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies-other Text (details)
Summary Of Significant Accounting Policies-other, Net (details)
Summary Of Significant Accounting Policies-promotional Allowances (details)
Summary Of Significant Accounting Policies-property And Equipment (details)
Write Downs, Reserves And Recoveries
Write Downs, Reserves And Recoveries (details)
Write Downs, Reserves And Recoveries (tables)
Ticker: AFGA
CIK: 1499268
Form Type: 10-K Annual Report
Accession Number: 0001499268-13-000024
Submitted to the SEC: Mon Apr 01 2013 5:24:13 PM EST
Accepted by the SEC: Mon Apr 01 2013
Period: Monday, December 31, 2012
Industry: Hotels And Motels

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