Twin River has closed its previously announced acquisition of three casinos in Black Hawk, Colorado from Affinity Gaming. The purchase price was $51 million. Affinity is a portfolio company of Z Capital Partners.
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.
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.