Kirkland-based gaming and entertainment company Maverick Gaming announced Wednesday it has received regulatory approval from the Washington State Gambling Commission for its acquisition of Evergreen Gaming Corporation.
The company assumed operations control of the property as of December 21. Under the terms of the transaction, Maverick paid $80 million 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, CEO of Maverick Gaming, commented on this acquisition and described it as “crucial to Maverick’s continued dominance in Washington State.”
“We expect there to be enormous consolidation as well as operational and marketing benefits to our company as a result of this transaction. Maverick will move swiftly to integrate these two companies in all aspects, and we expect to see benefits from this purchase by January,” he added.
As a result of this transaction, Maverick Gaming will now own thirty-one 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 3500 team members.
The company’s debt is rated BBB- by Moody’s and S&P and is super majority owned by Eric Persson and COO Justin Beltram, who collectively have over 40 years’ experience in gaming, including 16 years at Las Vegas Sands.
Back in October, casino loyalty and technology provider Acres Manufacturing announced it would provide Maverick Gaming with its casino management system and cashless gaming solutions. The company will implement Acres’ CMS+ and Cashless Casino technology applications, both of which leverage the provider’s Foundation platform. Acres expects both solutions to go live at the properties of the operator in the first half of 2023, pending regulatory approval.