Las Vegas-based Maverick Gaming said Friday it acquired three cardroom casinos in the Seattle area that were owned by Great American Gaming Corp., the affiliate of the Great Canadian Gaming Corp.
According to a release from Great Canadian, the purchase price was $56 million. The transaction is subject to regulatory approvals.
The cardrooms are located in Everett, Tukwila and Lakewood and cover 45 table games, four restaurants, three bars and supporting amenities.
Maverick Gaming was founded in 2017 by Eric Persson and Justin Beltram. The company and its affiliates currently own the Wendover Nugget and Red Garter hotels in Wendover, Nevada. Maverick is also on the Nevada Gaming Control Board’s agenda in May to purchase the Red Lion Casino, Gold Country Casino, and High Desert Inn located in Elko Nevada, from Navegante Management.
Maverick Gaming previously announced in September 2018 a definitive purchase agreement to acquire Nevada Gold & Casinos, Inc., whose portfolio includes nine card rooms in Washington with seven in the greater Seattle area.
Combined with the Great American purchase, Maverick will have 12 properties in Washington, with approximately 165 table games. The Nevada Gold transaction is pending the approval of the Washington State Gambling Commission and is anticipated to close in the first half of 2019.
“We couldn’t be more excited to continue to expand our operation into Washington,” Pearson said in a statement. “With a metro population of over 4.6 million people, coupled with a strong economy, Maverick has made a strategic decision to place full attention to this market. This is one of several transactions Maverick will be announcing over the next few months, which will continue to transform Maverick Gaming into a true regional operator.”
Maverick intends to fund the Great American transaction primarily with cash on hand and debt financing from HG Vora Capital Management, a private investment firm.
