Private equity firm Z Capital Partners has acquired a 24.97 per cent stake in US casino operator Affinity Gaming.
Affinity’s operations include 12 casinos, nine of which are located in Nevada. In addition to two properties in Missouri and one in Iowa, the company is also the landlord of three properties in Colorado and is expected to be licensed to operate these casinos later this year.
With this investment, Z Capital becomes its largest shareholder.
“Z Capital has been a long-time supporter of our management, employees and business strategy, and we are excited to see them step up into a more prominent role in our ownership," said David Ross, CEO of Affinity Gaming. "We believe that this new level of support from Z Capital will provide us with greater flexibility to execute our strategic plan of growing cash flow through elevating our guest experience, enhancing our value proposition and improving the overall performance of our properties."
