Maverick Gaming is facing significant challenges as it plans to close eight cardrooms across Washington state, which may lead to layoffs for approximately 850 employees. This move is part of a restructuring strategy under Chapter 11 bankruptcy protection, following increased competition and operational costs that have strained its financial health.
The closures are scheduled for late November and include venues such as the Caribbean Casino in Yakima and Crazy Moose Casino in Pasco. While these closures are indicated in recent WARN notices, Maverick has hinted that potential changes in ownership during the bankruptcy process could allow some locations to remain open.
Maverick’s aggressive expansion began in 2018, aimed at capitalizing on the anticipated legalization of sports betting. However, when Washington’s 2020 law favored tribal casinos, Maverick’s business model faltered, leading to a series of layoffs and earlier property closures. The company is currently restructuring, having filed for bankruptcy in 2025 with assets and liabilities estimated between $100 million and $500 million, and plans to sell certain assets to alleviate its financial burden.
In addition to recent layoffs, the company has faced broader economic challenges impacting its customer base, further complicating its recovery efforts.
