Posted on: March 8, 2023, 02:50h.
Last updated on: March 8, 2023, 03:04h.
Affinity Interactive announced Wednesday that it’s selling Rail City Casino in Sparks, Nev. to affiliates of Truckee Gaming, LLC.
Financial terms of the deal weren’t disclosed. Rail City Casino has a 24,000-square-foot casino featuring nearly 415 slot machines and several eateries. The venue also has video poker devices, a keno lounge, and a sportsbook. Privately held Truckee Gaming is based in Reno.
(The company) owns and operates Gold Ranch Casino & RV Resort in Verdi, Gold Ranch Casino in Dayton, Club Fortune Casino in Henderson and three Pioneer Crossing Casinos located in Dayton, Fernley, and Yerington,” according to a statement.
Affinity Interactive is a portfolio company of Z Capital Partners, which is the private equity arm of Z Capital Group.
Rail City Casino Extends Busy Stretch in Sparks
Truckee Gaming’s purchase of Rail City Casino extends a busy period of deal-making in Sparks, which is located near Reno.
Last year, Century Casinos (NASDAQ: CNTY) announced the $195 million acquisition of Sparks Nugget, including a 50% stake in the real estate entity that owns the venue. Last August, Legends Bay Casino opened in Sparks, marking the debut of the city’s first from-the-ground-up gaming venue in nearly three decades.
Sparks is just several miles from the Reno-Tahoe International Airport, and that region is attracting investment from a host of big-name technology companies looking to capitalize on Nevada’s lower taxes. As a result, the area is growing and gaming industry analysts are bullish on the demographic trends there. That could be a prelude to more consolidation activity in the area.
Reno-Tahoe gaming properties trade at prices far below what’s seen on the Las Vegas Strip, making the region economical for buyers looking to enter Nevada or solidify footprints in the state. Caesars Entertainment is the largest operator in the area.
Affinity Interactive Has Compelling Gaming Menu
In addition to operating regional casinos in Iowa, Missouri, and Nevada, Affinity Interactive has a presence in the horse racing, iGaming, and sports wagering industries. The company owns the Daily Racing Form, DRF Bets, and DRF Sports.
In Nevada, the company owns Buffalo Bill’s, the Silver Sevens Casino in Las Vegas, and Primm Valley Resort & Casino in Nevada. It also owns the Lakeside Hotel Casino in Iowa and the Mark Twain Casino and St. Jo Frontier Casino in Missouri.
Affinity Interactive has north of 1 million customers across its various platforms, according to the statement, and “plans to invest in other opportunities that align with its core business and growth strategy” following the sale of Rail City Casino.