Private equity firm Z Capital Partners has acquired a 24.97 per cent stake in Affinity Gaming, a casino operator with wholly-owned casino operations in Nevada, Missouri and Iowa, becoming its largest shareholder.
"We have great respect for Affinity Gaming and its strong commitment to guests, employees, and partners," says James J. Zenni, president and chief executive officer of Z Capital. "This investment has been a two year process and we see significant potential for long-term growth at Affinity Gaming and look forward to supporting management’s efforts to lead the company into its next phase."
"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," says David D. Ross, chief executive officer 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."
