Maverick Gaming, a prominent casino and card-room operator, has filed for Chapter 11 bankruptcy following a recent debt restructuring. This move will lead to the closure of four of its Washington state casinos, while its properties in Nevada and Colorado are expected to continue operations. The bankruptcy filing cites liabilities and assets ranging from $100 million to $500 million.
Maverick Gaming Files For Bankruptcy
On Monday, July 14, 2025, Maverick Gaming, headquartered in Kirkland, Washington, initiated Chapter 11 bankruptcy proceedings in Texas. This filing comes after a debt restructuring effort last year. The company’s financial struggles are attributed to a weaker local economy, particularly layoffs in the technology sector impacting its customer base, and high operating costs, including significant rent obligations.
Washington Casinos To Close
As a direct consequence of the bankruptcy, four of Maverick Gaming’s Washington state properties will cease operations. These include:
- Dragon Tiger Casino in Mountlake Terrace
- Palace Casino in Lakewood
- Silver Dollar in Renton
- Roman Casino in Seattle
Maverick Gaming stated that this decision was influenced by the Washington Gaming Commissioners’ choice to discontinue a centralized surveillance petition, which was intended to support Washington Cardrooms. The company argued that the gaming board’s comparison of Washington cardrooms (with 15 tables) to larger mega-casinos, coupled with the lack of advanced surveillance technology, hindered their ability to compete effectively.
Operations In Other States Continue
Despite the closures in Washington, Maverick Gaming’s 22 other properties across Nevada and Colorado are slated to remain open. The company’s Nevada holdings, which include five properties such as the Wendover Nugget Hotel & Casino and Red Garter Hotel & Casino in West Wendover, and the Maverick Casino & Hotel Elko, Gold Country Casino, and High Desert Inn in Elko, are not the primary focus of the bankruptcy reorganization and will continue normal operations. Similarly, its three casinos in Colorado are expected to operate without interruption.
Key Takeaways
- Maverick Gaming filed for Chapter 11 bankruptcy in Texas, listing liabilities and assets between $100 million and $500 million.
- Four Washington state casinos are closing due to the bankruptcy: Dragon Tiger Casino, Palace Casino, Silver Dollar, and Roman Casino.
- The company cited a weak local economy, high operating costs, and a Washington Gaming Commissioners’ decision regarding surveillance technology as contributing factors.
- Maverick Gaming’s properties in Nevada and Colorado will continue to operate as the bankruptcy primarily addresses corporate financing issues.
- The company had undergone a debt restructuring in 2024, but rising cash interest obligations contributed to the bankruptcy filing.
Sources
- Maverick Gaming files for bankruptcy after restructuring — CDC Gaming, CDC Gaming.
- Four Washington casinos to close after Maverick Gaming files for bankruptcy, Focus Gaming News.
- Maverick Gaming to close 4 WA casinos, FOX 13 Seattle.
- Maverick Gaming, which owns 5 Nevada casinos, files for bankruptcy, The Nevada Independent.
