Operator News
US – Maverick buys three Seattle casinos from Great Canadian Gaming
By Phil - 30 April 2019
Great Canadian Gaming, the Canadian company that operates gaming, entertainment and hospitality facilities, is planning to sell the shares of Great American Gaming Corporation to Maverick Gaming for US$56m.
The purchase will include three card room casinos in Everett, Tukwila and Lakewood, all in the Seattle area of the state of Washington.
“We couldn’t be more excited to continue to expand our operation into Washington,” Pearson said. “With a metro population of over 4.6 million people, coupled with a strong economy, Maverick has made a strategic decision to place full attention to this market. This is one of several transactions Maverick will be announcing over the next few months, which will continue to transform Maverick Gaming into a true regional operator.”
The purchase and sale of Great American is subject to the consent of Washington State Gambling Commission regulatory approvals and customary closing conditions.
“The sale of Great American will allow Great Canadian to focus on its core growth markets as we continue to execute on our operational and development plans for 2019 and beyond. The divestiture is in line with the Company’s stated strategic goals and demonstrates our commitment to exploring opportunities to create shareholder value,” Rod Baker, the company’s Chief Executive Officer said.
Maverick is also buying Red Lion Casino, Gold Country Casino and High Desert Inn in Elko, Nevada, from Navegante Management. The two deals will take its casino portfolio to 12.
