LAS VEGAS, Jan. 24, 2020 /PRNewswire/ -- Affinity Gaming
("Affinity") today announced that it has completed the previously
announced sale of the Golden Gates, Golden Gulch and Mardi Gras casino properties in Black Hawk, Colorado, to Twin River Worldwide
Holdings, Inc. (NYSE: TRWH) for $51
million, subject to customary adjustments.
"We are pleased to complete the sale of these three casino
properties as we sharpen our focus on Affinity's other key markets
in Nevada and the Midwest," said
Mary Beth Higgins, Chief Executive
Officer of Affinity Gaming. "We remain committed to driving
sustainable, long-term growth, while further enhancing Affinity as
a local casino leader by continually improving the customer and
guest experience at our properties."
Golden Gates, Golden Gulch and Mardi
Gras are located in close proximity to one another along a
half-mile strip of casino and casino-hotel properties in the
historic mining town of Black Hawk,
Colorado. Affinity acquired the three Black Hawk casinos in 2012 and over the past 8
years has worked to enhance the combined 36,000 square feet of
gaming space, which today features nearly 20 table games,
approximately 700 slots and a poker parlor. The properties also
offer three restaurants and 24/7 bars, and one of the only parking
garages in the market, with 700 spaces.
Affiliates of Z Capital Partners, the private equity management
arm of Z Capital Group, closed their take-private acquisition of
Affinity in 2017.
About Affinity
Affinity Gaming is a diversified casino
gaming company headquartered in Las
Vegas, Nevada. The company's casino operations consist of 8
casinos, five of which are located in Nevada, two in Missouri and one in Iowa. For more information about Affinity
Gaming, please visit its website: www.affinitygaming.com.
About Z Capital Group
Z Capital is a leading,
privately held global investment firm having approximately
$2.8 billion of assets under
management across complementary opportunistic, value-oriented
private equity and credit businesses.
Z Capital's investors are some of the largest and most
sophisticated global institutional investors including public and
corporate pension funds, university endowments, foundations,
sovereign wealth funds, central banks, and insurance companies. The
Z Capital investment strategies are described at
www.zcapgroup.net.
Media Contacts
Jonathan Keehner / Tim Ragones / Kate
Clark
Joele Frank, Wilkinson Brimmer
Katcher
212-355-4449
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SOURCE Affinity Gaming