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Z Capital/Affinity would use debt financing for Full House purchase
By Sara Rosenberg
New York, Oct. 22 – Z Capital Partners and its affiliate, Affinity Gaming, would use debt financing from third party financial institutions to fund its proposed acquisition of Full House Resorts, according to a news release.
The transaction would be structured as a cash or stock transaction with an enterprise value of $132.5 million, which equates to $1.79 per Full House share on a fully diluted basis.
The proposed transaction would be subject to satisfactory completion of due diligence, receipt of debt financing commitments and negotiation of one or more satisfactory definitive agreements.
Currently, there is a non-binding letter of intent regarding the acquisition.
Affinity Gaming is a Las Vegas-based casino gaming company. Full House is a Las Vegas-based owner, developer and operator of gaming facilities.
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