Las Vegas-based Maverick Gaming closed its acquisition of Nevada Gold & Casinos Friday, giving the company ownership of nine card rooms in the state of Washington, including seven located in the Seattle area.
The transaction – originally announced last September – was an all-stock deal. Maverick acquired all outstanding shares of Nevada Gold at $2.56 per share.
Maverick, which owns five casinos in rural Nevada, is in the process of acquiring three Washington card rooms from Great American Gaming, a deal awaiting approval by state gaming regulators.
Card rooms in Washington are eligible for 15 table games each. The two deals will give Maverick 135 table games in the market. Tim Merrill, president of Maverick’s Washington operations, said the purchases will be an important platform to growing Maverick’s presence in the state.
“We look forward to raising the bar by building entertainment destinations,” said Merrill, who grew up in Washington and is a member of the Shoalwater Tribe. He said the company plans to add hotel rooms, restaurants and other entertainment to its Washington facilities.
“Our cardrooms are neighborhood hangouts, and we look forward to applying our extensive locals experience as we begin to compete in this market,” Merrill said.
Maverick CEO Eric Persson said the two deals give the company “a significant foothold in this market.” He said the company hopes to announce other acquisitions in Washington.
Maverick owns the Red Lion Casino, Gold Country Casino and High Desert Inn, all located in northern Nevada community of Elko and the Wendover Nugget and Red Garter Hotel in Wendover.
Privately held Maverick operates 1,200 hotel rooms and 1,500 slot machines in Nevada.
Howard Stutz is the executive editor of CDC Gaming. He can be reached at hstutz@cdcgamingreports.com. Follow @howardstutz on Twitter.
