DiTronics Financial Services is a financial services company providing cash-access services to the gaming industry. Their customers are casinos and limited bar gaming locations. They provide installation and management of ATM’s and kiosks. They also provide cash-advance and check-cashing services in casinos. DiTronics has annual revenue of $100 million.
DiTronics’ lender was disappointed in their financial progress over the past two years, and turned to Winter Harbor to complete a financial assessment. Our professionals traveled to their headquarters in Las Vegas, and:
Partnered with DiTronics management to learn about operational issues and gather details for assessment.
Developed a business assessment of DiTronics, including suggested areas of operational and financial improvement.
Provided details on current situation, along with key financials such as Q4 and 6-month 2019 forecast.
Conducted analysis of 13-week cash flow variance and assessment of 16-week cash forecast.
Presented results with company at bank meeting in December 2018.
The Lender was satisfied with our business assessment of DiTronics and financial analyses provided to them. However, the Lender had decided to pursue the termination of their relationship with DiTronics, with an end date of June 2019. The Lender was also satisfied with our presentation and is contemplating hiring Winter Harbor for refinancing. A proposal was requested by the Lender in December 2018.