Maverick Gaming is facing significant challenges as it prepares to close two of its cardrooms in Washington State—Riverside Casino and Great American Casino—leading to the layoff of 238 employees. This move comes amid ongoing Chapter 11 bankruptcy proceedings, following a series of unfortunate business decisions that included an aggressive expansion fueled by debt.
Initially intending to capitalize on legalized sports betting after the US Supreme Court’s ruling in 2018, Maverick’s plans faltered when Washington lawmakers restricted sports betting to tribal casinos. This limitation led the company to sue the state and federal government, but the lawsuit was dismissed.
The company has already closed or planned the closure of five cardrooms since June 2023, impacting over 400 workers. Maverick’s swift expansion left it highly leveraged, and rising interest rates have only exacerbated its financial strain. Despite the closures, Maverick continues operations in several states, including Nevada and Colorado.
