Maverick Gaming Closes Purchase of Nevada Gold (NYSE: UWN)
14 Juni 2019 - 10:16PM
Maverick Gaming LLC (“Maverick”) and Nevada Gold &
Casinos, Inc. (NYSE: UWN) announce the closing of Maverick’s
purchase of Nevada Gold.
Maverick Gaming and Nevada Gold & Casinos, Inc. (NYSE: UWN)
(“Nevada Gold”) announced that on Friday, June 14, 2019, Maverick
completed the purchase of Nevada Gold via merger between Nevada
Gold and a wholly owned subsidiary of Maverick established for that
purpose at a final price of $2.559333 for each share of Nevada Gold
common stock.
The purchase includes nine card rooms in Washington, with seven
in the Seattle area.
“With this purchase, Maverick begins its journey into
Washington. This purchase coupled with the three card rooms
we are in the process of purchasing from Great American Gaming will
give us twelve card rooms and a significant foothold in this
market,” said Eric Persson, majority owner of Maverick
Gaming. “We intend to close the Great American purchase by
the end of June, and in fact are looking forward to announcing
several other acquisitions in the very near future.”
Each of the card rooms in Washington are eligible for fifteen
table games. “This purchase gives Maverick 135 table games in
this market, and as important a platform for Maverick to grow in
this State,” added Tim Merrill, the President of Maverick
Washington. “We look forward to raising the bar by building
entertainment destinations that table games will be an element
of. It’s no secret that Maverick has over 1200 hotel rooms,
and we look forward to adding more and integrating, hotels, food,
entertainment and gaming into the same local space,” added Mr.
Merrill.
“Our card rooms are neighborhood hangouts, and we look forward
to applying our extensive locals experience as we begin to compete
in this market,” added Mr. Merrill.
“Growing up in Hoquiam, Washington, and as a member of the
Shoalwater Tribe I couldn’t be more excited to be back home,” added
Mr. Persson.
As a result of the closing, Nevada Gold’s common stock will be
suspended from the NYSE after the close today and subsequently
deregistered under the Securities Exchange Act of 1934, as amended
(the “Exchange Act”). Following delisting from NYSE, Nevada
Gold’s common stock will not trade on any exchange. Nevada
Gold also intends to suspend its reporting obligations under the
Exchange Act, which it will be able to do because, following the
merger, Maverick is the sole shareholder of Nevada Gold.
ABOUT MAVERICK GAMING
Maverick Gaming is majority owned and was founded by gaming
industry veterans Eric Persson, who previously served as Global SR
Vice President of Slots at Las Vegas Sands and Justin Beltram,
former Vice President of Slots at Bellagio and Marina Bay Sands.
Together they bring over 30 years of gaming experience spanning
gaming markets around the world including the Las Vegas Strip
(Venetian, Palazzo, Bellagio), Macau (Sands China Limited),
Singapore (Marina Bay Sands), and many regional markets in North
America.
Maverick Gaming currently owns the Wendover Nugget and Red
Garter Hotel, Red Lion Casino, Gold Country Casino and High Desert
Inn. and nine card rooms in Washington State, seven of which are in
the greater Seattle vicinity, and the other two located in the
eastern Tri-Cities area. The card rooms have approximately 120
table games. In April of 2019, Maverick announced a purchase
agreement with Great Canadian Gaming to buy their three casino
assets in Washington State in the Seattle area. The Great
American Gaming casinos have 45 table games.
The Great Canadian Gaming transaction is pending the approval of
the Washington State Gambling Commission. The purchase is expected
to close in June 2019.
When all disclosed purchases are consummated Maverick will have
approximately 1,500 slot machines, 200 table games and 1,200 hotel
rooms nationwide.
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