Z Capital Partners boosts stake in Affinity Gaming

12 January 2015

By Howard Stutz

Illinois private equity firm Z Capital Partners, the largest shareholder in casino operator Affinity Gaming, has increased its ownership stake in the company whose holdings include the three Primm resorts and the off-Strip Silver Sevens.

In a filing with the Securities and Exchange Commission, Z Capital said it now owns 39.5 percent of Affinity.

Silver Point Capital of Connecticut, another private equity firm, owns 25.1 percent of the company. Affinity is not publicly traded, but has $382.7 million in long-term publicly held debt.

Z Capital first acquired an equity stake in Affinity in 2010, and became the company’s largest shareholder a year later.

Two Z Capital representatives, CEO James Zenni and Managing Director Andrei Scrivens, serve on Affinity’s Board.

In Nevada, Affinity operates five casinos. The company also owns three Colorado casinos, two casinos in Missouri and an Iowa casino.

In August, Affinity named former Caesars Entertainment executive Michael Silberling as CEO.

Z Capital has $1.9 billion of investment assets.