Private equity management company Z Capital Partners has purchased Sports Information Group, the parent company of Daily Racing Form.
The purchase was announced in a July 25 press release from Z Capital Partners, the private equity management arm of Z Capital Group, which describes itself as “a leading global alternative investment manager focused on opportunistic, value-oriented private equity and credit funds” with $2.3 billion of regulatory assets under management.
“The big opportunity for us is to digitize the print side of the business, which the former owners started to do—it's expensive and there is still a way to go to make it fully function, and then the online gaming offering,” said Z Capital Group CEO James Zenni in an interview with Bloomberg's Jason Kelly on Bloomberg Markets. Zenni said his company started watching Daily Racing Form about four years ago.
The release said terms of the deal would not be disclosed.
“We are thrilled to join the Z Capital family,” said SIG chairman and CEO John Hartig. “Z Capital's financial strength, experience, insight, and operational expertise will help Daily Racing Form and the company's other platforms continue to enhance and expand our digital offerings and better serve our loyal readers and customers, while staying true to the publication's rich history and its market-leading brand.”
Daily Racing Form was advised in the transaction by JEGI I Clarity.
Daily Racing Form has covered horse racing since 1894, publishes up to 2,000 unique pages of statistical and editorial copy every day, in as many as 20 daily editions, 364 days a year, and includes a companion website that provides news coverage, race results, exclusive handicapping tools, as well as sales and auction coverage through DRF Breeding, and access to the account deposit wagering site DRF Bets.
In February Z Capital Partners completed a purchase of Las Vegas-based Affinity Gaming in a deal that valued the casino owner at $580 million. At the time Affinity Gaming owned 11 casinos, including five in Nevada.
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