Maverick Gaming, a land-based casino company in the United States, has finalized its acquisition of Evergreen Gaming, a Washington-focused gaming corporation. As agreed, the former party will pay $80.5 million for the acquisition.
Maverick Gaming Acquires Evergreen Gaming in a $80.5M Deal
The agreement was finalized now as it was awaiting regulatory approval from the Washington State Gambling Commission. With the approval secured, the two gaming companies were able to proceed with their M&A deal.
Now that the deal was greenlit, Maverick Gaming acquired the entirety of Evergreen’s shares and assets. The agreement will significantly expand Maverick’s US presence, powering the casino company with several new properties.
In total, Evergreen Gaming currently owns four cardrooms across Washington. With the deal concluded, Maverick Gaming is now in possession of Chips Casino in Lakewood, Goldies Casino in Shoreline, Palace Casino in Lakewood and Riverside Casino in Tukwila.
In the wake of the acquisition, Maverick now owns a total of 31 casinos, hotels and manufacturing businesses across Colorado, Nevada and Washington. Its table games number has been scaled up to more than 360, while its slot machines now number 2,700. In terms of hospitality, Maverick boasts 1,300 rooms across its hotels with 50 restaurants available for its guests’ dining needs.
The company’s team currently numbers around 3,500 employees.
Maverick Gaming Asserts Dominance in Washington
Eric Persson, Maverick Gaming’s chief executive officer, commented on the acquisition. He noted that the move is an important milestone for maintaining the company’s dominance in Washington State. As a seasoned gambling industry specialist, he expects to reap significant benefits from the M&A deal.
Strategically this acquisition is 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.
Eric Persson, CEO, Maverick Gaming
Persson concluded that Maverick will work hard to quickly integrate the newly-acquired business into its company. If everything goes as planned, he said, his company may see benefits from the purchase by January.
Maverick Gaming continues to consolidate its power as it pursues growth. Two months ago, the growing casino company announced casino gaming solutions agreement with Acres Manufacturing Company, a renowned manufacturer of casino equipment and solutions. Per the deal, Acres agreed to supply the casino operator with its leading client management system and cashless gaming solutions.
Earlier this year, Maverick Gaming supported the launch of commercial sports betting in Washington, attracting the animosity of tribal entities.