Maverick Gaming Announces Purchase of 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 cardrooms 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 first 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.   

ABOUT MAVERICK GAMING LLC

Maverick Gaming is majority owned and was founded by gaming industry veterans Eric Persson, who previously served as Global SR Vice President of Slots at Las Vegas Sands and Justin Beltram, former Vice President of Slots at Bellagio and Marina Bay Sands. Together they bring over 30 years of gaming experience spanning gaming markets around the world including the Las Vegas Strip (Venetian, Palazzo, Bellagio), Macau (Sands China Limited), Singapore (Marina Bay Sands), and many regional markets in North America.  Maverick Gaming currently owns the Wendover Nugget and Red Garter Hotel, which include more than 600 hotel rooms and 1200 slot machines.