Maverick Gaming LLC has announced the signing of a definitive purchase agreement for the Wizards Casino in Burien Washington.
The transaction is expected to close in the next month, pending Washington State Gambling Commission approval. Terms of the agreement were not disclosed, although Maverick said it intends to fund the transaction primarily with cash on hand and debt financing from HG Vora Capital Management, a private investment firm.
“Today, we continue our commitment to the State of Washington and the card room industry. Wizards is located in a suburb of Seattle and once again our footprint grows in this important market” said Eric Persson, owner of Maverick Gaming
“In the next month, we expect to announce the purchase of four more card rooms in Washington, as well as another property in Nevada. Once all of our contemplated purchases close, we expect to be at 31 casinos in multiple states and jurisdictions.”
He added: “As our footprint grows in Washington, we are very interested in helping the State see the potential tax revenue sports wagering can generate for Washingtonians, which we estimate if done right can be in excess of fifty million dollars annually. We believe Maverick’s geographic diversity coupled with our sports betting expertise, make the Maverick properties natural partners with the state in sports wagering”
Currently Maverick Gaming owns 17 casino and card rooms in Nevada and Washington State with approximately 1,500 slot machines, over 225 table games and 1,200 hotel rooms nationwide.
