Affinity Gaming Reportedly Joining Hands with Sports Information Group (SIG)

Affinity Gaming, the owner of Las Vegas’ Silver Sevens Casino, is said to be close to a $1.3 billion merger with Sports Information Group (SIG).

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Affinity Gaming, the owner of Las Vegas’ Silver Sevens Casino, is said to be close to a $1.3 billion merger with Sports Information Group (SIG). The Daily Racing Form is published by SIG.

The investing group Z Capital Group owns Affinity and SIG. If the marriage is successful, the objective is to merge the regional casino operator and the internet betting company into a new entity called Affinity Interactive. The news of the deal was first announced earlier today.

According to the news agency, Affinity Interactive will have roughly one million clients in the United States, citing anonymous persons with knowledge of the situation. Z Capital is celebrating a significant triumph with SIG, which it acquired in 2017 for less than $100 million, at the aforementioned $1.3 billion value.

Rumors concerning the destiny of the Daily Racing Form appeared last year; hinting that the historic horse racing journal may change hands for the seventh time in just over three decades. DraftKings, Flutter Entertainment, and Penn National Gaming were mentioned as prospective suitors at the time.

Affinity also owns Buffalo Bill’s, Rail City Casino, and Primm Valley Resort & Casino in Nevada, in addition to Silver Sevens. It also owns Iowa’s Lakeside Hotel Casino, as well as Missouri’s Mark Twain Casino and St. Jo Frontier Casino.

Affinity SPAC Impact

Affinity joined with Gaming & Hospitality Acquisition Corp. (NASDAQ:GHACU) in January with the intention of locating casino and sports wagering businesses to buy.

According to Bloomberg, as a result of the Affinity/SIG agreement, the SPAC will merge into Affinity Interactive and unite with another, undisclosed target. According to previous regulatory records, the blank-check corporation may seek dispersed gaming assets or regional casinos.

Gaming & Hospitality Acquisition received $175 million in gross proceeds in its February initial public offering (IPO); after upsizing to satisfy high demand.

Next Steps

The Affinity/SIG might be confirmed as soon as this week. If that occurs, it may assuage fears about a slowing SPAC market since Z Capital would be expressing confidence that the new Affinity Interactive can effectively combine with Gaming & Hospitality Acquisition to find viable merger partners.

The pace of blank-check sales has slowed in recent months across all industries; as market players have grown increasingly worried about the financial soundness and performance of de-SPACed corporations. Talks between sports betting data supplier and a blank-check business recently fell down in the gaming business.

Nonetheless, the expansion of iGaming and online sports betting, along with operators’ hunger for media assets; should auger well for Affinity Interactive’s search for acquisition targets.

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