Maverick Gaming Owner Initiates Buyback to Retain Eight Washington Casinos and Protect Jobs

Eric Persson, owner of Maverick Gaming, has taken steps to purchase eight Washington state casinos back from lenders, a move designed to stop closures originally set for November 30 while keeping roughly 850 positions intact across the sites. The properties had operated under Maverick Washington LLC throughout bankruptcy proceedings, yet operations are now expected to continue without interruption as the ownership change proceeds toward completion in approximately three weeks.

Background on the Properties and Legal Context

These eight locations include the Great American Casino in Everett along with the All Star Casino in Silverdale and several additional venues spread throughout the state, all of which faced lender-driven shutdown plans before the buyback agreement emerged. Bankruptcy filings placed the assets under Maverick Washington LLC, creating a structured process where creditors held control until Persson stepped forward with the repurchase offer that addresses both debt obligations and operational continuity. Observers note that state gaming regulations require such transitions to maintain licensing standards, a requirement overseen by the Washington State Gambling Commission during the entire handover period.

Details of the Ownership Transition

Persson has confirmed that the buildings themselves will stay open throughout the process, allowing employees to shift directly to the new owner without any gaps in employment status or daily functions. The agreement targets a closing timeline of about three weeks from the announcement date, during which financial arrangements with lenders will finalize and necessary regulatory approvals will move forward. Staff at each property receive direct communication about the change, with payroll and benefits transferring seamlessly under the updated ownership structure.

Timeline and Next Steps

The repurchase deal moves through final lender negotiations and state regulatory reviews, with Persson stating that no closures will occur at any point during the shift. Employees transition under existing contracts while the new entity assumes full control, and community stakeholders receive updates confirming that local tax contributions and vendor relationships stay in place. Three weeks from the initial announcement marks the expected completion point, after which Maverick Gaming resumes direct management of the full portfolio.

Regional Context for Washington Gaming

Washington state maintains strict oversight on casino licensing and financial restructurings, requiring all parties to demonstrate that public safety and employment standards remain protected throughout any ownership change. The current situation follows standard procedures where bankruptcy assets return to previous operators when repurchase terms satisfy creditor and regulatory conditions. Local economies tied to these eight properties benefit from the continued presence of jobs and visitor spending that the November 30 closure date would have eliminated.

Conclusion

The buyback arrangement resolves immediate threats to the eight Washington casinos by restoring ownership to Eric Persson under Maverick Gaming, ensuring the sites avoid shutdown and maintain employment levels near 850 positions. Operations proceed without pause while the three-week closing period advances, and all involved parties follow established state procedures for a smooth handover. This development keeps the properties active and integrated within their communities as the transition reaches completion.