Maverick Gaming finalized its acquisition of Colorado casino company CC Gaming, giving the Las Vegas-based operator ownership of three casinos in the Denver market.
Colorado marks Maverick’s third state in the company’s growing portfolio, which includes four casinos in rural Nevada and 19 card room casinos in Washington.
A sales figure was not released. Maverick funded the transaction primarily with cash on hand and financing from HG Vora Capital Management, a private investment firm.
The transaction includes Z Casino in Black Hawk; Grand Z Casino Hotel in Central City; and Johnny Z’s Casino in Central City. The sale also included Z Stop Convenience Store and Gas in Golden.
Combined, the properties have more than 1,500 slot machines, 20 table games and 119 hotel rooms.
“Given Denver’s growing population of nearly 3 million people, with limited gaming distribution and a thriving economy, we are committed to invest in our new properties and add value to the Denver gaming market,” said Maverick majority owner CEO Eric Persson.
Privately held Maverick has been one of the most active casino operators in the acquisition market this year. The company has struck several transactions for card room casinos in Washington, primarily in the Seattle market.
Maverick Gaming now has a total of 3,200 slot machines, 350 table games and 1,330 hotel rooms. Persson hinted at adding “two more jurisdictions” in the coming months.
“HG Vora is an important financing partner for Maverick Gaming with deep experience in the gaming sector,” Persson said. “We look forward to growing our portfolio over the near term with their partnership.”
Persson said the recent passage of sports wagering legalization in Colorado will allow the company to offer the activity when it launches in the state next spring. He said Maverick has also been lobbying to legalize sports betting in Washington.
“With our management expertise we do not anticipate partnering with a third-party provider,” he said.
Persson and Justin Beltram founded Maverick Gaming in 2017.
The company owns the Wendover Nugget and Red Garter hotels in Wendover, Nevada, and the Red Lion Casino, Gold Country Casino, and High Desert Inn, all located in Elko, Nevada. The Nevada properties total 1,200 hotel rooms and 1,500 slot machines.
Howard Stutz is the executive editor of CDC Gaming Reports. He can be reached at hstutz@cdcgaming.com. Follow @howardstutz on Twitter.
