Affinity Interactive Announces the Successful Transition of Primm Valley Casino Resorts’ Operations

LAS VEGAS--(BUSINESS WIRE)--Affinity Interactive (“Affinity” or “the Company”) today announced the successful completion of the transition of Primm Valley Casino Resorts’ (“Primm”) operations by the Company’s subsidiary The Primadonna Company, LLC (“TPC”) to the Primm landlord and Terrible’s.

Contrary to misstatements and what has been reported in the press, the discussions between TPC and the Primm landlord regarding the Primm property lease began more than two years ago. This was done in conjunction with a comprehensive third-party valuation process and market outreach.

TPC determined that the economics of the Primm leasehold interest were no longer viable, and the Primm landlord was not willing to reduce the rent for the Primm property to a sustainable amount. The Primm property was a cash drain of approximately $10-15 million per year for many years, and there was no commercially rational basis to continue investing in the property or to financially support its continued operations.

Affinity and its sponsor has a long history with the Herbst family, having worked together during the Herbst Gaming bankruptcy restructuring more than a decade ago. In that process, TPC preserved jobs, revitalized the Primm properties, and was a responsible employer and a valued member of the gaming community in Nevada. It’s unfortunate that the Primm location has become obsolete and the Primm landlord did not work with TPC on an economically rational solution.

Affinity on behalf of its employees, Board of Directors and ownership extends its sincere appreciation for the collaboration and guidance throughout this process with the Nevada Gaming Control Board. Affinity also wishes the Herbst family great success with the Primm properties.

About Affinity Interactive

Affinity Interactive is an omni-channel media, online, and gaming industry leader with an expanded suite of casino and online gaming offerings. Combining leading regional casinos in Nevada, Missouri and Iowa with advanced technology, digital and media platforms, and an online betting presence, Affinity Interactive has nearly one million combined customers and is positioned to capitalize on the continued momentum in sports betting and iGaming globally. Affinity Interactive is a subsidiary of Apex Hospitality, the integrated hospitality and consumer brand platform. For more information, please visit www.affinityinteractive.com.

About Apex Hospitality

Apex Hospitality is an integrated hospitality and consumer brand organization, operating across dining, entertainment, and e-commerce. Formed through the strategic alignment of Affinity Interactive, Daily Racing Form (DRF), Xperience Restaurant Group (XRG), and Mrs. Fields Gifting & Licensing, the platform brings together nationally recognized restaurant concepts, iconic consumer products, and digital capabilities under one scalable, integrated model. For more information, visit www.theapexhospitality.com.