Maverick Gaming, a regional gaming asset owner, has closed its acquisition of CC Gaming in an arrangement that sees them acquire their gaming and non-gaming properties.
Maverick will acquire its gaming and non-gaming assets, including Colorado’s Z Casino in Black Hawk, Grand Z Casino Hotel in Central City, Johnny Z’s Casino in Central City, and Z Stop Convenience Store and Gas in Golden, by closing the purchase of CC Gaming.
The acquisition will add more than 1,500 slot machines, 20 table games and 119 hotel rooms to the Maverick portfolio while the terms of the transaction have not been disclosed.
Maverick Gaming will now have 3,200 slot machines, 350 table games and 1,330 hotel rooms in 26 locations in California, Washington and Colorado as a result of the deal.
Eric Persson, the majority owner of Maverick and its affiliates, commented: “We are very excited to bring the Z Gaming properties into the Maverick Gaming portfolio. Given Denver’s growing population of nearly three million people, with limited gaming distribution and a thriving economy, we are committed to invest in our new properties and add value to the Denver gaming market.”
Maverick funded this deal mainly with cash on hand and funding from the private investment company HG Vora Capital Management: “HG Vora is an important financing partner for Maverick Gaming with deep experience in the gaming sector. We look forward to growing our portfolio over the near term with their partnership” Persson added.
“This purchase gives Maverick Gaming sports betting in two states and we look forward to adding two more jurisdictions in the coming months, as well as, working hard to educate Washingtonians on the benefits that sports betting will bring to their state. With our management expertise we do not anticipate partnering with a third party provider.”