Exhibit 99.22
November 24, 2015
By Email and Federal Express
The Special Committee of the Board of Directors
Attention: Matthew Doheny, Chairman
Affinity Gaming
3755 Breakthrough Way, Suite 300
Las Vegas, NV 89135
Re: Affinity Gaming Proposal
Dear Matt:
Z Capital Partners, L.L.C., on behalf of itself and its affiliated investment funds and/or designees (“Z Capital”), would like to express our appreciation for the Special Committee’s consideration of our initial proposal, dated November 15, 2015 (the “November 15 Proposal”). We hereby amend the November 15 Proposal to increase the purchase price from $13.00 per share to $14.50 per share in cash for all of the outstanding common shares of Affinity Gaming not already owned by Z Capital. We further amend the November 15 Proposal to extend the expiration time from 5:00 PM Pacific Time on November 25, 2015 to 5:00 PM Pacific Time on November 27, 2015. Finally, we hereby reduce the required exclusivity period in the November 15 Proposal from thirty (30) days to fourteen (14) days.
We are available immediately to discuss the terms of the November 15 Proposal (as amended hereby) and to negotiate and finalize the merger agreement and other definitive agreements with you.
We hope to receive a favorable response from you promptly.
Sincerely,
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Z Capital Partners, L.L.C. |
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/s/ James J. Zenni, Jr. |
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James J. Zenni, Jr. |
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President and Chief Executive Officer |
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