Las Vegas-based regional gaming provider Maverick Gaming LLC announced Thursday it closed on the $56 million purchase of Great American Gaming Corporation, a U.S. affiliate of the Great Canadian Gaming Corporation.
Maverick acquired three card rooms in the Washington cities of Everett, Tukwila and Lakewood. All are in the greater Seattle area.
“Maverick’s footprint in Washington continues to grow with this purchase,” Maverick majority owner Eric Persson said. “We now have 12 properties with nearly 180 table games in this important market.”
Maverick funded the transaction primarily with cash on hand and debt financing from HG Vora Capital Management, a private investment firm.
The deal was originally announced in late April and covers 45 table games, four restaurants, three bars, and supporting amenities.
Two weeks ago, Maverick Gaming acquired the nine Washington card rooms owned by Nevada Gold & Casinos. Seven of the card rooms are 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.
Persson and Justin Beltram founded Maverick Gaming in 2017.
The company owns the Wendover Nugget and Red Garter hotels in Wendover, Nevada. and the Red Lion Casino, Gold Country Casino, and High Desert Inn, all located in Elko, Nevada.
“In the next month, we expect to give details on seven more Washington properties,” Tim Merrill, President of Maverick Washington, said. “With 4.6 million residents and a strong local economy, we couldn’t be more excited to close this transaction.”
“We look forward to competing in this robust market,” Merrill added.
“As a Washington native and a member of the Shoalwater Tribe, I couldn’t be prouder to be able to come back home,” Persson said. “When all of our Washington transactions close, we will be providing over 3,000 jobs (to the area) which have average annual compensation above $75,000 and which will pay over $40 million in annual taxes.
“This is truly a dream come true,” he said.
