In a bold gamble to reshape its fate, Maverick Gaming LLC, a casino and hotel operator with properties across Nevada, Colorado, and Washington, filed for Chapter 11 bankruptcy protection Monday in Texas, seeking shelter under the shadow of a yearslong legal battle against tribal gaming exclusivity in Washington state.
The company, which includes over 60 affiliated entities, disclosed in its bankruptcy petition that it holds more than $100 million in liabilities—but also over $100 million in assets. It secured a $22.5 million debtor-in-possession financing package to keep operations rolling while it pursues a sale strategy.
The filing landed in the U.S. Bankruptcy Court for the Southern District of Texas, and the case is now before Judge Alfredo R. Perez. A first-day hearing is scheduled for Tuesday.
A Web of Casinos, Cardrooms, and Controversy
Maverick isn’t just another casino operator. It runs a sprawling network of gambling and hospitality businesses, including casinos, card rooms, hotels, and even a gaming fabrication and installation operation, according to court filings. The enterprise employs approximately 2,900 workers, making its potential restructuring impact felt across three states.
But what truly sets Maverick’s case apart is the storm swirling outside the bankruptcy courtroom.
