LAS VEGAS (KTNV) — Affinity Interactive announced Sunday the completion of the transition of operations at Primm Valley Casino Resorts to the property's landlord and Terrible's.
The company said the transition was carried out through its subsidiary, The Primadonna Company LLC.
In a statement, Affinity disputed previous media reports about the timeline of negotiations, saying discussions between The Primadonna Company and the property's landlord began more than two years ago as part of a third-party valuation process and broader market outreach.
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Affinity said The Primadonna Company determined the lease was no longer financially sustainable after years of operating losses. Affinity said the Primm property lost approximately $10 million to $15 million annually for several years and that the landlord was unwilling to reduce rent to a level the company considered economically viable.
"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," the company said in its release.
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Affinity also said it has a longstanding relationship with the Herbst family dating back to the Herbst Gaming bankruptcy restructuring more than a decade ago. The company said it preserved jobs and invested in the Primm properties during that process.
"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 said.
Terrible's also released a statement Sunday, which can be read below:
We would like to take this time to communicate a brief update on the transition in Primm, NV.
From the beginning, we approached this partnership with both a near-term commitment to “Nevadans helping Nevadans” and a long-term vision to restore, enhance, and reenergize this iconic gateway to Nevada for generations to come.
We are pleased to announce that once we were allowed to meet with Primm employees, Terrible’s offered every team member employment, and of those who wished to remain, Terrible’s retained and onboarded 100% - approximately 300 people. In addition, the on-site employee housing remains open and active, allowing our employees to keep their homes.
As planned, we took over management of the Primm Center, Chevron Gas Station, Flying J, Whiskey Pete’s Travel Store, Lotto Store, and Starbucks on July 1. Working alongside the newly transitioned, dedicated employees, the Terrible’s team successfully reopened each of these properties by July 2, in time for holiday travelers.
As previously stated and planned, we gained management control of the gaming properties at 12:01 a.m. on July 5. This includes Primm Valley Casino, Buffalo Bill’s Casino, and Whiskey Pete’s Casino. With Whiskey Pete’s and Buffalo Bill’s previously closed by prior operators, Primm Valley Casino was the only casino property that was open prior to our management transition, and our immediate focus is to reopen this property in the coming weeks. We look forward to sharing our expected Primm Valley Casino opening date soon.
Our longer-term plans for Primm, including Buffalo Bill’s and Whiskey Pete’s, are still being finalized. Terrible’s and the Primm family share a commitment to identifying meaningful opportunities for investment, infrastructure improvements, enhanced amenities, and new experiences that will strengthen the properties and support sustainable growth for years to come.
We are excited about the future and look forward to sharing additional details as our plans continue to take shape.
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