Affinity Gaming LLC disclosed today that Z Capital Partners LLC, the Chicago-based private equity firm, acquired a 25 percent stake.
Z Capital bought about 5.05 million shares in the Las Vegas-based casino and hotel operator, according to a regulatory filing. The firm focuses on investing in distressed companies with the goal of taking control, its website shows.
Affinity operates 11 casinos in Nevada, Missouri and Iowa, including the Terrible’s chain. Formerly known as Herbst Gaming Inc., the company was renamed last year after emerging from bankruptcy in 2010 with new ownership.
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