Maverick Gaming™ Announces Purchase of Play Elko Casinos in Elko, Nevada
Acquisition includes three properties, 435 slot machines, 11 table games and 544 hotel rooms
LAS VEGAS, NV – April 3, 2019 – Maverick Gaming LLC (“Maverick” or “Maverick Gaming”), an owner of regional gaming assets, today announced the signing of a definitive purchase agreement with CC Gaming LLC 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 1998 by leading gaming industry veterans 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.
Eric Persson, the majority owner of Maverick and its affiliates said, “As Maverick continues to grow and expand our portfolio of regional gaming properties and assets, we are extremely pleased to add Red Lion and Gold Country Casinos, along with High Desert Inn to our company. I admire the work that Larry Wolfe has done to grow this business and we look forward to building upon the foundation he established.”
Mr. Persson continued, “We believe this purchase puts us in a position to become a significant player in the Northern Nevada market. The Red Lion is the market leader in the Elko market, and this purchase provides us with many synergies with the Wendover market."
"Over the next six months we intend to announce many more strategic acquisitions, that will continue to grow and transform Maverick Gaming into a true regional operator."
Last September the company announced its intention to acquire Nevada Gold & Casinos, Inc. (NYSE: UWN). The company would expand its portfolio to include nine casino locations, seven of which are in the greater Seattle vicinity, and the other two located in the eastern Tri-Cities area. Combined, the facilities have approximately 120 table games. The transaction is pending the approval of shareholders and the Washington State Gambling Commission. It is expected to close in the first half of 2019.
Maverick intends to fund this transaction primarily with cash on hand and financing from HG Vora Capital Management, a private investment firm.