[toc]The Chief Financial Officer for a mid-sized group of casinos, including the three Primm, Nevada properties at the California-Nevada state line, has been named Financial Executive of the Year in the Gaming and Hospitality Industry.
Affinity Gaming CFO Walter Bogumil took home the honor from the first-ever CFO of the Year Awards hosted by the Las Vegas Chapter of Financial Executives International this month.
Recognizing success and leadership
The awards recognize executives who helped their companies reach new pinnacles of success. Plus, they’re aimed at honoring honor exemplary leadership. The Silverton Casino in Las Vegas hosted the awards ceremony on June 22.
“I’m honored to receive this recognition,” said Bogumil. “It’s been very exciting to be a part of Affinity Gaming’s growth these past two years and I look forward to working with (CEO) Michael (Silberling) and the rest of the executive team as the company continues to evolve.”
Affinity Gaming emerges from Herbst Gaming bankruptcy
Affinity Gaming came about from the bankruptcy of the former Herbst Gaming, which previously owned and operated more than 80 Terrible Herbst-branded gas stations, slot routes and casino locations, mostly in Nevada. The company emerged from bankruptcy in 2010, splitting into two companies. Affinity Gaming took ownership of the casino properties.
The company currently owns and operates four Nevada casinos, including:
- Primm Valley Resort & Casino (Primm, Nevada)
- Buffalo Bill’s (Primm, Nevada)
- Whiskey Pete’s (Primm, Nevada)
- Rail City Casino (Sparks, Nevada)
- Silver Sevens Hotel and Casino (Las Vegas, Nevada)
It’s Primm, Nevada properties sit 40 miles outside of Las Vegas on Interstate 15. The casinos are the first sign drivers from California are in Nevada.
The company also owns and operates:
- Golden Mardi Gras Casino
- Golden Gates Casino
- Golden Gulch Casino in Black Hawk, Colorado
- Mark Twain Casino & RV Park in La Grange, Missouri
- St. Jo Frontier Casino in St. Joseph, Missouri
- Lakeside Hotel & Casino in Osceola, Iowa
Getting Affinity Gaming’s finances in order
Bogumil has been the CFO at Affinity Gaming since April 1, 2015. He joined the company after previously working at:
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- Penn National Gaming
- Microsoft
- Sun International Resorts
- Walt Disney World
Bogumil also has a Master’s degree in Business Administration from the Crummer Graduate School of Business at Rollins College. Plus, he has a Bachelor’s Degree in Finance from the University of Central Florida.
According to Financial Executives International, Bogumil’s job entailed getting Affinity Gaming’s finances in order when he joined the company. In fact, he was able to free up cash flow from zero to $50 million in 18 months. Plus, he was instrumental in growing recurring earnings before interest, tax, depreciation and amortization (EBITDA). In his time, the company’s EBITDA grew 25.4 percent in 2015 and 17.4 percent in 2016.
Gaming’s fastest growing
Affinity Gaming privatized in January of this year. In fact, it is now considered one of the fastest-growing gaming companies in the country.
Silbering sang Bogumil’s praises in a press release:
“We are extremely proud of Walter and his achievements. He’s been an integral member of our leadership team, helping us to achieve status as the fastest growing gaming company in the U.S., with a recurring EBITDA growth for the past two years. This award is a testament to his exceptional talent in fiscal management, as well as his passion and dedication to outstanding customer service.”
Affinity Gaming is headquartered in Las Vegas.
Photo courtesy of OLOS / Shutterstock
