NEW YORK, June 14, 2021 /PRNewswire/ -- Z Capital
Partners, L.L.C., the private equity arm of Z Capital Group, L.L.C.
("ZCG"), a leading privately-held asset manager, today
announced the merger of its affiliated portfolio companies,
Affinity Gaming ("Affinity"), a diversified national casino gaming
operator, and Sports Information Group, LLC ("SIG"), a New York-based B2B and B2C global omnichannel
sports, technology, digital, media and wagering business. The
transaction will close in the coming weeks and the terms were not
disclosed.
Headquartered in Las Vegas,
Nevada, Affinity is a casino gaming operator that owns and
operates eight renowned regional casino properties throughout
Nevada, Iowa and Missouri. In
Nevada, Affinity has active sports
betting and online casino licenses with additional active sports
betting licenses in Iowa. Pending
legislative approval, Affinity has the potential to add additional
sports betting and online casino licenses in Iowa and Missouri.
With an online and mobile presence in nearly 40 states, SIG is a
global, multi-media information company dedicated to providing
premium data-driven content and in-depth digital coverage to horse
racing enthusiasts. SIG's flagship brand, Daily Racing Form
("DRF"), has been the dominant source of information in the horse
racing industry since 1894 and is considered the go-to resource for
the thoroughbred racing industry. A "one-stop-shop" for
horseracing, DRF's website is the most heavily-trafficked
horseracing destination, providing players with the most extensive
information in horse racing, interactive past performances,
exclusive handicapping tools, and access to DRF Bets™, one of
America's fastest growing online and mobile wagering platforms. SIG
also offers sports data and digital analytics through its brand DRF
Sports.
The merger of Affinity's leading regional casinos in
Nevada, Missouri and Iowa, and
SIG's advanced technology, digital and media platforms and online
betting presence, will position Affinity Interactive as a leader in
today's gaming industry with a world class digital offering with
significant growth opportunities.
The merger will include an expanded suite of casino and online
gaming offerings, including social gaming, mobile gaming, iGaming
and sports betting. The combined company will reach nearly one
million customers across the U.S. alone and leverage the iconic DRF
brand as it capitalizes on the continued momentum in sports betting
and iGaming globally. Mary Beth
Higgins, Chief Executive Officer of Affinity Gaming, and
Itay Fisher, Chief Executive Officer
of SIG, will continue to lead their respective business units.
"This merger has been contemplated for quite some time, and with
the expansion of online gaming in the U.S. and abroad, we look
forward to bringing together these two highly complementary
businesses and leveraging their combined strengths to create a
significant gaming, digital and media platform with even greater
growth opportunities globally as Affinity Interactive," said
James Zenni, Founder, President and
Chief Executive Officer of ZCG and Chairman of Affinity
Interactive. "Affinity's acclaimed casino properties, coupled with
SIG's world-class technology and proprietary sports data and
intelligence, will create a leading gaming platform available to
nearly one million customers worldwide. We see significant growth
in the sports and online betting industry, and we are confident
that together these companies will be even better positioned to
capitalize on the many opportunities ahead as Affinity
Interactive."
"This is an exciting day for our digital, data and betting
customers as the combined company will offer an unparalleled online
and in-person gaming experience to our ever-growing customer base,"
said Mr. Fisher. "This merger enables Affinity to leverage SIG's
leading technology and digital presence and accelerates its
expansion into sports and iGaming. We are grateful to have ZCG's
continued vision, support, and operational expertise as we enter
into this new chapter."
"For more than 125 years, DRF has been at the forefront of the
gaming industry, and today's announcement of combining our
offerings with Affinity's casino properties and sports betting
licenses, is yet another milestone in SIG's iconic legacy," said
Ms. Higgins. "This transaction will position us to continue our
growth, and we look forward to working with Itay and the SIG team
to further deliver the best sports betting offerings for the
benefit of our combined customers."
Sidley Austin LLP served as legal advisor to Affinity, and
Massumi + Consoli LLP served as legal advisor to SIG.
About ZCG
ZCG is a leading New York City
based, privately held, global investment firm with
approximately $4.0 billion of assets under management
across complementary private equity and credit businesses. ZCG and
its Principals have industry leading track records in private
equity and credit for over twenty-five years. ZCG's investors are
some of the largest and most sophisticated global institutional
investors including pension funds, endowments, foundations,
sovereign wealth funds, central banks, and insurance companies. For
more information please visit www.zcg.com.
About Affinity Gaming
Affinity Gaming is wholly owned
by ZCG affiliates and is a diversified casino gaming company
headquartered in Las Vegas,
Nevada. The Company's casino operations consist of eight
regional casinos, five of which are located in Nevada, two in Missouri, and one in Iowa. The company has a total of 230,000
square footage of casino floor, more than 3,000 slot machines, 30
table games, 1,375 hotel rooms, 25 F&B outlets and a renowned
entertainment venue. For more information about Affinity Gaming,
please visit its website: www.affinitygaming.com
Affinity Gaming's parent, Affinity Gaming Holdings, also
recently sponsored Gaming & Hospitality Acquisition Corp.
(NASDAQ: "GHAC", "GHACU" and "GHACW") ("GHAC"), a blank check
company formed for the purpose of effecting a merger, capital stock
exchange, asset acquisition, stock purchase, reorganization or
similar business combination with one or more businesses. GHAC's
initial public offering was $200
million. While GHAC may pursue acquisition opportunities in
any industry or sector, it intends to primarily focus on the
identification of an acquisition target within online gaming,
sports betting, regional gaming, distributed gaming and gaming
technology and equipment. For more information, please visit its
website www.gamingandhospitality.net.
About Sports Information Group
Sports Information
Group, LLC is wholly owned by ZCG affiliates and is a New York
based global omnichannel, gaming, technology, media and digital
information company dedicated to providing premium data driven
content and in-depth information to the horse racing industry. The
Company's flagship brand, Daily Racing Form is "America's Turf
Authority since 1894" for horse racing enthusiasts, breeding and
sporting and professionals throughout North America. Launched in 1894, Daily Racing
Form is the only data provider in the U.S. dedicated solely to the
coverage of a single sport. Its companion website, www.DRF.com is
the most heavily-trafficked horseracing destination, providing
players with the most extensive data coverage in horse racing,
interactive past performances, proprietary handicapping tools, and
access to DRF Bets™, one of America's fastest growing online and
mobile wagering platform. Additionally, Daily Racing Form provides
DRF Harness Eye, the data provider for standardbred racing since
1964, offering news, handicapping products, and online wagering
functionality specifically for harness players. In 2012, Daily
Racing Form introduced DRF Breeding, a business dedicated to
serving the breeding industry, bringing expanded information and
tools to horseplayer and breeding enthusiasts alike. DRF also
offers DRF Sports, a sports statistics and content offering to
sports betting enthusiasts. DRF Sports will be
relaunching with new and expanded features prior to the 2021
NFL schedule. For more information, please visit www.DRF.com
www.DRFbets.com and www.sports.drf.com
Forward Looking Statements
Portions of this press release may constitute forward-looking
statements and assumptions underlying such forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 (the "PSLRA"), Section 27A of the
Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, including with respect to the GHAC's plans
with respect to the target industry for a potential business
combination. No assurance can be given that the GHAC will
ultimately complete a business combination transaction. In
addition, any such forward-looking statements are made within the
"safe-harbor" protections of the PSLRA, should not be relied upon
as representing Z Capital's, Affinity's, SIG's, or GHAC's views as
of any subsequent date, and Z Capital, Affinity, SIG, and GHAC are
under no obligation to, and expressly disclaim any responsibility
to, update or alter these forward-looking statements, whether as a
result of new information, future events or otherwise. Such
forward-looking statements are based on information available to Z
Capital, Affinity, SIG, and GHAC as of the date of this report and
involve a number of risks and uncertainties, some beyond their
control, that could cause actual results to differ materially from
those anticipated by these forward-looking statements. Such risks
include uncertainty surrounding certain events, including the
following: (1) Affinity and/or SIG may be adversely affected by
economic, business, and/or competitive factors; (2) the
ability to recognize benefits of the transaction; (3) risks
that the transaction disrupts current plans and operations and the
potential difficulties in employee retention as a result of the
transaction; and (4) whether GHAC will ultimately complete a
business combination transaction.
Security holders of Affinity or GHAC and other readers are
cautioned not to put undue reliance on any forward looking
statements, which reflect ZCG's, Affinity's, SIG's, and GHAC's
current beliefs and are based on information available to them as
of the date a forward-looking statement is made.
Media Contact
Jonathan
Keehner / Kate Thompson /
Tanner Kaufman
Joele Frank, Wilkinson Brimmer
Katcher
212-355-4449
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SOURCE Z Capital Credit Partners, L.L.C.