Affinity Gaming has named a new CEO and added three new members to its board of directors.
Affinity, which is based in Las Vegas-based and owns 11 properties in four states, named Michael Silberling as CEO late last month. Silberling replaced David Ross, who left the company at the end of July. Silberling will also fill Ross’s role on the company’s board.
Silberling spent 20 years at Caesars Entertainment Corp., most recently as president of Caesars’ international operations, overseeing 12 resorts in seven countries. He also oversaw Harrah’s casinos in Iowa and Missouri, two of Affinity’s regional markets, the company announced.
“Michael understands the business,” said Affinity Chairman Rich Parisi, “and we are confident in his ability to help Affinity achieve its strategic objectives.”
Affinity operates five casinos in the Silver State, including the three Primm resorts and Silver Sevens in Las Vegas. The company also owns three Colorado casinos, two in Missouri and one in Iowa.
“There is a meaningful opportunity to establish Affinity as the premier operator of regional gaming assets,” Silberling said. “I look forward to leveraging my operational and regional experience to ensure that Affinity grows its competitive position in the markets in which it operates.”
Affinity also restructured its board to include three new members from Z Capital, Affinity’s largest shareholder with a 33.7 percent stake, reported the Las Vegas Review-Journal. The new directors are Z Capital CEO James Zenni; Managing Director Andrei Scrivens; and James Cacioppo, managing partner and portfolio manager of One East Capital Advisors. The board has grown from four to seven members.
“We now have the right board and leadership in place to focus on executing the company’s business strategy,” Zenni said. “I look forward to working together as we capitalize on Michael’s extensive gaming experience and take Affinity to the next level.”
The management changes are subject to licensing and regulatory approval in four states, according to the Review-Journal.
