LAS VEGAS, Feb. 5, 2021 /PRNewswire/ -- Z Capital
Group, LLC ("ZCG"), a leading privately held global investment firm
with complementary private equity and credit businesses, today
announced the launch of Gaming & Hospitality Acquisition Corp.
(NASDAQ: "GHACU", "GHAC" and "GHACW") ("GHAC" or the "Company"), a
newly organized special purpose acquisition company, sponsored by
Affinity Gaming Holdings, LLC, the owner of casino operator
Affinity Gaming and a portfolio company of ZCG.
GHAC is 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. While the Company may pursue acquisition
opportunities in any industry or sector, it intends to primarily
focus on the identification of an acquisition target for its
initial business combination within:
- Sports betting / online gaming;
- Regional gaming;
- Distributed gaming; and
- Gaming technology and equipment.
The Company currently intends, but may elect not to, pursue a
merger with Affinity Gaming concurrently with the completion of its
initial business combination. The Company will not, however,
complete an acquisition with only Affinity Gaming.
The Company is led by:
- James Zenni, Chairman of the
Board of Directors of GHAC and Founder, President, Chief Executive
Officer and Chairman of the Management Committee of ZCG;
- Mary Elizabeth Higgins, Chief
Executive Officer of GHAC and Chief Executive Officer of Affinity
Gaming;
- Eric Fiocco, Chief Operating
Officer and Secretary of GHAC, and Senior Vice President, Chief
Operating Officer and Chief Marketing Officer of Affinity Gaming;
and
- Andrei Scrivens, Chief Financial
Officer of GHAC and Chief Financial Officer of Affinity
Gaming.
The Board of Directors for the Company includes:
- Mr. Zenni;
- Ms. Higgins;
- Daniel A. Cassella, current
Advisor to the Audit Committee of Mohegan Gaming and Entertainment,
former Chairman of the Audit Committee and member of the Finance
Committee of Tropicana Entertainment, Inc., and former President
and Chief Executive Officer of Stratosphere Corporation;
- Richard Glynn, Founder of
Alinsky Partners and former Chief Executive Officer of Ladbrokes
PLC;
- Jan Jones Blackhurst, former
mayor of Las Vegas and the first
woman to hold that role, and former member of the board of
directors of Caesars Entertainment Corporation;
- Thomas A. Lettero, Chief
Executive Officer of NexGen Technology LLC, and former Chief
Financial Officer of Cannery Casino Resorts LLC; and
- Daniel H. Scott, current Advisor
to the Audit Committee of Mohegan Gaming and Entertainment, former
member of the board of directors of Tropicana Entertainment, Inc.
and Galaxy Gaming, Inc.
"We are pleased to enter the public market at an opportune time
in the gaming industry," said Mr. Zenni. "Leveraging our team's
unmatched national and regional gaming and hospitality expertise,
the Company is poised to complete transformative acquisitions and
be a significant platform in the industry to the benefit of
shareholders and stakeholders."
"This is an exciting milestone for the entire management team
and ZCG," said Ms. Higgins. "We believe that the fragmentation and
dislocation present in the current market environment will provide
the Company with a broad range of attractive acquisition targets. I
look forward to working with Jim and the rest of the team to
execute our shared vision."
About ZCG
Z Capital Group, LLC ("ZCG") is a leading, privately held,
global investment firm with approximately $3.2 billion of assets under management across
complementary private equity and credit businesses. ZCG Principals
have had a successful track record in private equity and credit for
over twenty-four 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 a diversified casino gaming company
headquartered in Las Vegas,
Nevada. The Company's casino operations consist of eight
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: affinitygaming.com.
About Gaming & Hospitality Acquisition Corp.
Gaming & Hospitality Acquisition Corp. is a newly organized
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. While the Company may pursue an acquisition opportunity
in any industry or sector, it intends to focus on the gaming and
hospitality sectors, which complement the management team's sector
and operating expertise. Target businesses in these sectors might
include, but are not limited to, regional gaming, distributed
gaming, online gaming / sports betting and gaming technology and
equipment.
Forward-Looking Statements
This press release contains statements that constitute
"forward-looking statements," including with respect to the
Company's plans with respect to the target industry for a potential
business combination. No assurance can be given that the Company
will ultimately complete a business combination transaction.
Forward-looking statements are subject to numerous conditions, many
of which are beyond the control of the Company, including those set
forth in the Risk Factors section of the Company's registration
statement and final prospectus dated February 2, 2021 filed with the Securities and
Exchange Commission ("SEC"). Copies of these documents are
available on the SEC's website, www.sec.gov. The Company undertakes
no obligation to update these statements for revisions or changes
after the date of this release, except as required by law.
Contact
Jonathan
Keehner / Kate Thompson /
Julia Sottosanti
Joele Frank, Wilkinson Brimmer
Katcher
212.355.4449
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SOURCE Z Capital Group, L.L.C.