Maverick Gaming files for bankruptcy following debt restructuring

Maverick Gaming has officially filed for Chapter 11 bankruptcy protection following new financing and the extension of its debt maturity in 2024, having reported total liabilities and assets between $100-$500m in filings with the US Bankruptcy Court in Texas on July 14. 

The move comes as four casinos in the Washington State area have also recently shut down operations due to economic slowdowns and high operating costs. 

Maverick Gaming holds ownership over five casinos in Nevada as well, including Wendover Nugget Hotel & Casino, Red Garter Hotel & Casino, Maverick Casino & Hotel, Gold Country Casino and High Desert Inn. 

No closures for any of the properties have been announced at this time, but it remains to be seen how the company’s financial predicament will affect its Nevada operations. 

Good to know: Maverick Games launched its operations in Ontario, Canada through Delasport’s sportsbook, becoming the second brand to use its technology across the province

The company had secured new financing and extended its debt maturity in 2024 through a debt exchange with payment-in-kind provisions, but rising cash interest obligations beginning in 2025 reportedly contributed to the bankruptcy filing.

The case is currently filed within the US Bankruptcy Court for the Southern District of Texas.

Kirk Geller

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