"The all-cash offer we are proposing provides Affinity's shareholders with a compelling opportunity to realize substantial and immediate value," said James Zenni, President and Chief Executive Officer of Z Capital. "We have always believed that Affinity Gaming needs a singular voice and direction with a long-term capital partner to position it for future growth. With committed financing in place, we are excited to pursue the closing of this acquisition and look forward to working with the respective State Gaming Regulators for a swift approval to ensure a seamless transition for employees, guests and business partners."
Mr. Zenni and Andrei Scrivens, a Managing Director at Z Capital, have served on Affinity's Board of Directors since 2014. Z Capital currently owns 41.14 percent of Affinity's shares. The proposal announced today, which is subject to the negotiation, execution and delivery of mutually acceptable definitive documents, does not constitute a binding offer, and will automatically expire on August 12, 2016 if an agreement is not reached.
About Z Capital Partners
Z Capital Partners, L.L.C. is the private equity management arm of Z Capital Group, L.L.C, a leading global alternative investment manager with approximately $2.2 billion of regulatory assets under management with offices in New York, NY; Lake Forest, IL; and Zurich, Switzerland. Z Capital Group manages opportunistic, value-oriented private equity and credit funds. Its investors include prominent global sovereign wealth funds, endowments, pension funds, insurance companies, foundations, family offices, and other institutions in North America, Europe, Asia, Africa and the Middle East. For more information, please visit www.zcapgroup.net.
About Affinity Gaming
Affinity Gaming is a diversified casino gaming company headquartered in Las Vegas, Nevada. The Company's casino operations consist of 11 casinos, five of which are located in Nevada, three in Colorado, two in Missouri and one in Iowa. For more information about Affinity Gaming, please visit its website: www.affinitygaming.com.
Jonathan Keehner / Aura Reinhard
Joele Frank, Wilkinson Brimmer Katcher
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SOURCE Z Capital Partners, L.L.C.