Maverick Gaming files for bankruptcy, shuts down four 바카라s
Maverick Gaming, a well-known operator in the US 바카라 and cardroom industry, filed for Chapter 11 bankruptcy earlier this week. This type of bankruptcy allows a company to reorganise its finances while continuing to operate certain parts of its business. Alongside the filing, the company announced the closure of four of its 바카라s in Washington State, marking a significant development in the regional gambling sector.
Bankruptcy filing details
The bankruptcy was filed in the state of Texas. According to court records, Maverick Gaming reported assets and liabilities in the range of $100 million to $500 million. While specific figures have not been disclosed, the filing suggests the company is facing financial difficulties, likely due to expansion costs, outstanding debts, and declining revenue—particularly from its operations in Washington State.
As part of the restructuring process, : Silver Dollar Renton, Palace Casino in Lakewood, Roman Casino in Seattle, and Dragon Tiger Casino in Mountlake. These closures reflect a significant contraction in the company’s largest market.
Regulatory disparities and legal challenges
Before the bankruptcy, Maverick operated 21 properties in Washington, making it the company’s most substantial market. However, the state’s strict gaming regulations and tribal gaming agreements have posed ongoing legal and operational challenges.
Maverick had submitted a request to the Washington State Gambling Commission to implement a centralised surveillance system across its cardrooms, aiming to improve security and reduce operational costs. The Commission denied the request, stating that such a system was not compatible with the regulations governing smaller cardrooms, which differ from those applied to larger tribal 바카라s. As a result, Maverick was required to continue using individual surveillance systems at each location, which the company considered outdated and costly.
In 2022, Maverick also filed a federal lawsuit challenging the exclusive rights granted to tribal 바카라s for sports betting in Washington. The company argued that this arrangement violated federal equal protection laws by favouring tribal entities. The 9th Circuit Court dismissed the case in December 2024, increasing Maverick’s legal expenses and hindering its efforts to enter the sports betting market.
Financial struggles and debt restructuring
Maverick had previously restructured its debt in 2023 in an attempt to stabilise its finances. However, rising interest rates significantly increased the cost of servicing that debt. Combined with ongoing regulatory challenges and limited revenue growth, the company was unable to maintain financial stability, leading to the Chapter 11 filing.
Nevada operations remain active
Despite the bankruptcy, Maverick’s five Nevada properties—Wendover Nugget, Red Garter, Maverick Casino & Hotel, Gold Country Casino, and High Desert Inn—remain operational. Nevada’s more favourable regulatory environment and stronger 바카라 performance have allowed these locations to continue generating revenue. The Nevada Gaming Control Board is monitoring the situation closely and may intervene if any operational concerns arise.
