Maverick Gaming announces purchase of Play Elko Casinos in Elko, Nevada CDC Gaming Reports · April 3, 2019 at 1:08 pm Regional gaming provider Maverick Gaming LLC today announced that they have signed a definitive purchase agreement with Navegante to acquire Red Lion Casino, Gold Country Casino, and High Desert Inn. The transaction will add over 435 slot machines, 11 table games and 544 hotel rooms to the Maverick portfolio. Terms of the transaction were not disclosed. Maverick Gaming was founded in 2018 by leading gaming industry veterans Eric Persson and Justin Beltram to be a best-in-class regional owner and operator of gaming assets in North America. The company and its affiliates currently own the Wendover Nugget and Red Garter Hotels in Wendover, Nevada. “We are extremely pleased to add the Red Lion and Gold Country Casinos and the High Desert Inn to our company,” Maverick majority owner Eric Persson said in a statement. “I admire the work that Navegante Management and gaming consultant firm has done to grow this business, and we look forward to building upon the foundation they have established.” Maverick intends to fund this transaction primarily with cash on hand and financing from HG Vora Capital Management, a private investment firm. The transaction is expected to close in May 2019. “We believe this purchase puts us in a position to become a significant player in the Northern Nevada market,” Persson said. “The Red Lion is the leader in the Elko market, and this purchase provides us with many synergies with the Wendover market, where we have increased EBITDA by over 80% year-over-year. We have similar expectations for Elko in terms of growth and EBITDA opportunity. “Over the next three months we intend to announce many more strategic acquisitions,” he said. Last September, the company announced its intention to acquire Nevada Gold & Casinos, Inc. The deal would expand Maverick Gaming’s portfolio to include nine casino locations, seven of which are in the greater Seattle vicinity. The other two are located in the eastern Tri-Cities area. Combined, the facilities have approximately 120 table games. The transaction is pending the approval of the Washington State Gambling Commission and is expected to close in the first half of 2019.