Affiliates of Z Capital Partners Acquiring Affinity Gaming

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Big news in the world of gaming acquisitions ahead of the weekend.

MGW has learned that Z Capital Partners, L.L.C., the private equity management arm of Z Capital Group, L.L.C., has reached an agreement to acquire Affinity Gaming, a leading casino gaming operator.

Affiliates of Z Capital and Affinity have entered into a definitive agreement to acquire Affinity in an all-cash transaction that values Affinity at approximately $580 million.

According to a news release to media, Z Capital and its affiliates, which currently own approximately 41 percent of Affinity’s outstanding shares, will purchase Affinity’s remaining outstanding shares for $17.35 per share in cash.

“We are pleased to enter into the agreement to purchase Affinity and transition from the largest shareholder to sole controlling shareholder,” said James Zenni, President and Chief Executive Officer of Z Capital and a member of the Affinity Board of Directors.

“Affinity brings a compelling offer to consumers by providing high quality entertainment at affordable prices in attractive markets, and I am confident that Z Capital is uniquely positioned to grow the business for years to come,” Zenni says. “We look forward to leveraging our broad expertise across the hospitality, restaurant, retail and consumer sectors to help Affinity continue to expand, while driving profitability through operating improvements and enhanced efficiencies.”

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