Maverick Gaming™ Closes Purchase of Nevada Gold (NYSE: UWN)
Seattle, WA – June 14th, 2019 – Maverick Gaming LLC (“Maverick”) and Nevada Gold & Casinos, Inc. (NYSE: UWN) announce the closing of Maverick’s purchase of Nevada Gold.
Maverick Gaming and Nevada Gold & Casinos, Inc. (NYSE: UWN) (“Nevada Gold”) announced that on Friday, June 14, 2019, Maverick completed the purchase of Nevada Gold via merger between Nevada Gold and a wholly owned subsidiary of Maverick established for that purpose at a final price of $2.559333 for each share of Nevada Gold common stock.
The purchase includes nine card rooms in Washington, with seven in the Seattle area.
“With this purchase, Maverick begins its journey into Washington. This purchase coupled with the three card rooms we are in the process of purchasing from Great American Gaming will give us twelve card rooms and a significant foothold in this market” said Eric Persson, majority owner of Maverick Gaming. “We intend to close the Great American purchase by the end of June, and in fact are looking forward to announcing several other acquisitions in the very near future.”
Each of the card rooms in Washington are eligible for fifteen table games. “This purchase gives Maverick 135 table games in this market, and as important a platform for Maverick to grow in this State,” added Tim Merrill, the President of Maverick Washington. “We look forward to raising the bar by building entertainment destinations that table games will be an element of. It’s no secret that Maverick has over 1200 hotel rooms, and we look forward to adding more and integrating, hotels, food, entertainment and gaming into the same locals’ space,” added Mr. Merrill.
“Our cardrooms are neighborhood hangouts, and we look forward to applying our extensive locals experience as we begin to compete in this market,” added Mr. Merrill.
“Growing up in Hoquiam Washington, and as a member of the Shoalwater Tribe I couldn’t be more excited to be back home,” added Mr. Persson.
As a result of the closing, Nevada Gold’s common stock will be suspended from the NYSE after the close today and subsequently deregistered under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Following delisting from NYSE, Nevada Gold’s common stock will not trade on any exchange. Nevada Gold also intends to suspend its reporting obligations under the Exchange Act, which it will be able to do because, following the merger, Maverick is the sole shareholder of Nevada Gold.