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Maverick Buys More Properties
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Maverick Gaming, a new company started just last year, has made another set of casino purchases.
The company headed by Eric Persson and Justin Beltram is buying Red Lion Casino, Gold Country Casino and High Desert Inn in Elko, Nevada, from Navegante Group.
The purchase follows Maverick’s initial acquisitions of Wendover Nugget and Red Garter Hotels in Elko last year, and the announcement in September that it will buy Nevada Gold & Casinos, which operates nine mini-casinos operating 120 table games in Washington state, seven in Greater Seattle and two in the Tri-Cities region in eastern Washington.
The purchase of Red Lion, Gold Country and High Desert will add 435 slot machines, 11 table games and 544 hotel rooms to Maverick, whose other Elko properties have more than 600 hotel rooms and 1,200 slot machines.
The company intends to be “a best-in-class regional owner and operator” in North America, Maverick majority owner Persson said.
Maverick will be announcing more strategic acquisitions over the next three months that will transform the company “into a true regional operator,” Persson said.
In Elko, Maverick has grown EBITDA 80 percent year-over-year and has similar expectations going forward, Persson said. He described Red Lion as the market leader.
The latest acquisitions are expected to close in May and will be funded by cash on hand and financing from HG Vora Capital Management. Washington regulators are expected to act on the Nevada Gold purchase in the first half of the year.
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The company headed by Eric Persson and Justin Beltram is buying Red Lion Casino, Gold Country Casino and High Desert Inn in Elko, Nevada, from Navegante Group.
The purchase follows Maverick’s initial acquisitions of Wendover Nugget and Red Garter Hotels in Elko last year, and the announcement in September that it will buy Nevada Gold & Casinos, which operates nine mini-casinos operating 120 table games in Washington state, seven in Greater Seattle and two in the Tri-Cities region in eastern Washington.
The purchase of Red Lion, Gold Country and High Desert will add 435 slot machines, 11 table games and 544 hotel rooms to Maverick, whose other Elko properties have more than 600 hotel rooms and 1,200 slot machines.
The company intends to be “a best-in-class regional owner and operator” in North America, Maverick majority owner Persson said.
Maverick will be announcing more strategic acquisitions over the next three months that will transform the company “into a true regional operator,” Persson said.
In Elko, Maverick has grown EBITDA 80 percent year-over-year and has similar expectations going forward, Persson said. He described Red Lion as the market leader.
The latest acquisitions are expected to close in May and will be funded by cash on hand and financing from HG Vora Capital Management. Washington regulators are expected to act on the Nevada Gold purchase in the first half of the year.
Get gaming news delivered to your inbox with a subscription to Fantini’s Gaming Report. Email Alex Capitle at This email address is being protected from spambots. You need JavaScript enabled to view it. for a free 30-day trial.