Under the terms of the transaction, Maverick Gaming paid $80.5m in cash for all of Evergreen Gaming’s shares and assets.
Evergreen Gaming consists of four cardrooms in Washington State: Chips Casino in Lakewood, Goldies Casino in Shoreline, Palace Casino in Lakewood and Riverside Casino in Tukwila.
Eric Persson, Maverick Gaming CEO, said: “Strategically this acquisition is crucial to Maverick’s continued dominance in Washington State. We expect it to be enormous consolidation as well as operational and marketing benefits to our company as a result of this transaction.”
Persson added: “Maverick will move swiftly to integrate these two companies in all aspects, and we expect to see benefits from this purchase by January.”
As a result of this transaction, Maverick Gaming will own 31 casinos, hotels and manufacturing companies across Washington, Nevada and Colorado.
Maverick Gaming assets include over 360 tables, 2700 slot machines, 1300 hotel rooms, 50 restaurants and approximately 3,500 team members.
Its debt is rated BBB- by Moody’s and S&P, and the majority is owned by Eric Persson and COO Justin Beltram, who collectively have over 40 years of experience in gaming, including 16 years at Las Vegas Sands the world’s largest gaming company by market cap.
Meanwhile, earlier in October 2022, Maverick Gaming and Acres Manufacturing agreed to a deal that will see Acres provide Maverick with its Acres' CMS+ and Cashless Casino app software.
