Nevada Gold & Casinos, Inc. engages in the ownership, management, and development of casinos and gaming facilities in the United States. The Company owns and operates 11 gaming facilities in Colorado and Washington and has recently signed a stock purchase agreement to acquire gaming assets in South Dakota.
- Company’s headquarters are in Houston, Texas.
- Listed on the NYSE AMEX as UWN with a market capitalization of $24.2M
- Largest owner of mini‐casinos in Washington State, representing close to 16% of the state’s active mini‐casinos.
- UWN had LTM Revenues of $55.7M, LTM EBITDA of $2.2M, and LTM Net Income of ($0.2M)
Over the last 5 years, the management team of Nevada Gold has taken numerous steps to restructure the Company and prepare it for future growth.
Significant reduction in operating expenses – Operating expenses cut from $7.5M in 2006 to $4.3M in 2011.
Repaired balance sheet – Eliminated $47M in debt.
Refinanced significant portion of current debt – Refinanced $11.0M of the Company’s existing debt.
Disposed of non‐core assets and acquired properties at attractive valuations – Sold‐off mining assets, Tribal gaming assets, and real estate holdings and acquired
10 new casinos in the last two and a half years that have generated over $50M in
combined combined revenue revenue for for the the LTM LTM ending ending August August 3131, 2011 2011.
Nevada Gold’s CEO, Robert Sturges, has had previous success managing gaming and entertainment companies.
Robert Sturges ‐ Chief Executive Officer
– Former President of the Gaming Division of Carnival Corporation (NYSE:CCL) with a market cap. of $24.9 billion, where he was responsible for the development and management of several new casino properties globally, including:
- Casino Rouge Riverboat (Baton Rouge, Louisiana), a 30,000 sq. ft. dockside riverboat casino with 1,000 slots and 30 table games.
Mr. Sturges was allso responsible for overseeing the development off a 25,000 sq. ft. terminal building for the Riverboat with a restaurant and entertainment facilities.
- Casino Rama Resort & Casino (Toronto, Canada), a 300 room resort that at the time generated over $1.0M in revenue per day, and has a 90,000 sq. ft. casino with 2,500 slots, 110 table games, 6 restaurants, and a 5,000 seat entertainment center.
- Crystal Palace Resort (Nassau, Bahamas), an 800 room resort with a 30,000 sq. ft. casino.
- Responsible for the management of other casinos and resorts, including the casinos located on 15 ships operating in Europe and the Caribbean, the Condado Beach Trio (San Juan, Puerto Rico), the Pelican Resort and Casino (Philipsburg, St. Maarten), the San Sandd
Castles Resort (Puerto Plata, Dominican Republic), and the Golden Rainbow Resort (Puerto la Cruz, Venezuela).
– Served as Director of the New Jersey Division of Gaming Enforcement from 1982‐1983.
– Has served as a board member to the following companies:
- AmeriCredit Corp. (NYSE:ACF), a Fortune 1,000 automobile finance company acquired in July 2010 by General Motors in an all‐cash transaction valued at approximately $3.5 billion.
- Benihana, Inc. (NASDAQ:BNHN) withh a market cap. off $142.9M, an operator off Asian stylle restaurants in thhe U.S.
– Graduate of Dartmouth College and a cum laude graduate of Rutgers School of Law.
– Limited partner of the Miami Heat NBA franchise.For more on UWN’s Management team, please visit their website here: http://www.nevadagold.
