Affinity Gaming, owner of 3 Colorado casinos, sold to Z Capital Partners LLC

Posted at 8:51 AM, Aug 25, 2016
and last updated 2016-08-25 14:49:56-04

NEW YORK -- Three casinos in Colorado have been sold.

Officials say Affinity Gaming, the Las Vegas-based owner of 11 casinos in Nevada, Colorado, Missouri and Iowa, has been sold to a New York private equity firm for $580 million.

The all-cash deal was announced Tuesday by Z Capital Partners LLC, the private equity arm of Z Capital Group LLC.

The Las Vegas Review-Journal reports that Z Capital and affiliates that already own about 41 percent of Affinity stock, plan to buy remaining shares for $17.35 each.

Affinity owns the Silver Sevens hotel-casino in Las Vegas, three hotel-casinos in the Nevada-California state line town of Primm, and the Rail City Casino in Sparks.

It also owns the Mardi Gras, Golden Gates and Golden Gulch properties in Blackhawk, Colorado; the St. Jo Frontier and Mark Twain casinos in Missouri; and the Lakeside Hotel Casino in Osceola, Iowa.