Maverick purchases Great American Gaming
LAS VEGAS, NV – April 25, 2019 – Maverick Gaming LLC (“Maverick” or “Maverick Gaming”) today announced the signing of a definitive purchase agreement with Great Canadian Gaming Corporation to acquire all of the shares and assets of Great American Gaming Corporation (“GAG”, a US affiliate of Great Canadian Gaming Corporation) including three card rooms located in Everett, Tukwila and Lakewood, subject to regulatory approvals. The transaction includes 45 table games, four restaurants, three bars and supporting amenities.
Maverick Gaming was founded in 2017 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. 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. (NYSE: UWN) whose portfolio includes nine card rooms in Washington with seven in the greater Seattle area. Combined with the GAG’s assets, Maverick will have twelve properties in Washington, with approximately 165 table games. The Nevada Gold transactions is pending the approval of the Washington State Gambling Commission and is anticipated to close in the second half of 2019.
Eric Persson, the majority owner of Maverick and its affiliates said, “We couldn’t be more excited to continue to expand our operation into Washington. 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,” he added.
Maverick intends to fund this GAG transaction primarily with cash on hand and debt financing from HG Vora Capital Management, a private investment firm.