Maverick Gaming Co-Founder Aims to Reacquire Struggling Elko Casinos
Eric Persson, co-founder of Maverick Gaming and a prominent Las Vegas poker professional, is making a bid to buy back two Elko, Nevada casinos he formerly owned. This strategic move is aimed at preventing the closure of these establishments and avoiding over 239 layoffs.
Key Details of the Purchase:
- Casinos Involved: The Maverick Casino Hotel and Gold Country Inn and Casino.
- Ownership Transition: Currently owned by Maverick NV LLC, linked to the Chapter 11 bankruptcy of RunItOneTime LLC, which was operating as Maverick Gaming. Persson’s current company is not part of the bankruptcy proceedings.
- Urgency: Persson has signed a transition service agreement with the lenders controlling the properties, expecting the transaction to conclude in about three weeks.
Persson stated, “Everyone’s goal is to get these assets out of Chapter 11 as fast as possible,” underscoring the urgency of the matter.
Financial Context:
- The specific terms of the sale have not been revealed.
- The properties are currently managed by RRC Gaming Management LLC, run by former Caesars CEO Tony Rodio, amid the ongoing bankruptcy.
Background on the Properties:
Persson co-founded Maverick Gaming in December 2017, initiating their venture with the acquisition of the Red Garter Hotel and Casino and Wendover Nugget for approximately $43 million. However, the future of the Elko casinos has been in jeopardy since Maverick NV LLC issued Worker Adjustment and Retraining Notification (WARN) notices, indicating potential large-scale layoffs and closures by November 30 unless operational management changes.
Past Experience:
Persson successfully utilized a similar strategy in Washington state, where he preserved 850 jobs by buying back eight former Maverick Gaming cardrooms facing closure.
Company Background:
RunItOneTime LLC, operating as Maverick Gaming, pursued expansion into Nevada and Colorado but encountered significant financial challenges, leading to its Chapter 11 bankruptcy filing on July 14, 2025, with reported assets and liabilities between $100 million and $500 million. Alongside the bankruptcy, the company also announced the closure of four cardrooms in the Seattle area.
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