FOR IMMEDIATE RELEASE
Maverick Gaming Initiates Voluntary Chapter 11 Process With The Support of Its Key Secured Lenders under a Transaction Support Agreement
Kirkland, WA – July 14, 2025 – RunItOneTime LLC d/b/a Maverick Gaming LLC (“Maverick” or the “Company”), a regional gaming and entertainment company operating cardrooms and casinos across multiple states, today announced that it has voluntarily filed for Chapter 11 protection under the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas.
The decision to initiate this court-supervised process follows a strategic review of Maverick’s capital structure and operations. On June 25, 2025, Maverick, a majority of its secured lenders and its majority shareholder entered into a transaction support agreement, pursuant to which certain secured lenders will provide new money financing and the Company intends on pursuing a restructuring or sale process under the supervision of the Bankruptcy Court.
“Maverick Gaming remains committed to its customers, employees, and partners,” said Jeff Seery, Chief Restructuring Officer of Maverick Gaming. “We are hopeful this process will allow us to right size our underlying business operations and preserve value for the benefit of all stakeholders.”
Continuing Operations
Maverick Gaming’s properties remain open and operational, and the company is continuing to deliver the same high-quality gaming and hospitality experience that customers have come to expect. The company has filed customary first-day motions with the court to ensure uninterrupted operations during the restructuring process, including the payment of employee wages and benefits, honoring customer loyalty programs, and continuing to pay vendors and suppliers in the ordinary course of business for goods and services provided after the filing date.
Advisor Information
To support the restructuring, Maverick Gaming has engaged Latham & Watkins LLP and Hunton Andrews Kurth LLP as legal counsel, GLC Advisors & Co. as investment banker and Portage Point Partners LLC as restructuring advisor to assist with the Chapter 11 process. Ropes & Gray LLP and Porter Hedges LLP are serving as legal counsel to an ad hoc group of secured lenders.
Additional information, including court filings and updates, will be available at https://restructuring.ra.kroll.com/RunItOneTime/ or by calling (877) 814-0967 (US/Canadian Toll Free); (646) 440-4367 (International Callers).
For inquiries about the sale process, please contact GLC Advisors & Co. representatives Mack Rossoff and Michael Sellinger at Maverick@glca.com.
About Maverick Gaming
Maverick Gaming is a regional gaming company headquartered in Kirkland, Washington. Founded in 2017, Maverick owns and operates 17 cardrooms in Washington State and own several casino hotels in Nevada, and Colorado, employing more than 2,900 team members. The company is dedicated to creating value for its communities through responsible gaming, job creation, and community engagement.
