Washington-based casino Maverick Gaming has filed for bankruptcy after debt restructuring throughout last year.
After going through various negotiations around debt last year, Maverick Gaming filed for bankruptcy on Monday, July 14. The casino and card room operator filed its Chapter 11 in Texas, listing total liabilities and assets in the range between $100m and $500m, as shared in official court files.
Maverick Roman LLC Files Chapter 11 Bankruptcy
🚨 BANKRUPTCY FILING ALERT 🚨
Maverick Roman LLC
Chapter 11 – Southern District of Texas
Filed: July 14, 2025
Case No. 25-90205📊 Assets: $100M-$500M | Liabilities: $100M-$500M | Total Creditors: 25,001-50,000 | Industry: Casino… pic.twitter.com/byTzwbICQe
— RK | Consultants (@_RKConsultants) July 14, 2025
Those assets include a portfolio of 27 properties in Nevada, Washington, and Colorado, as well as some fluid cash assets. The company’s biggest creditors include property lessors, gaming equipment providers, and food and beverage suppliers, with the single largest claim of around $7.4 million owed to Project Evergreen WA LLC for rent of commercial spaces. While that’s the biggest debt, there are between 25,001 and 50,000 creditors in total.
What went wrong for Maverick Gaming
It’s been a tricky few years for Maverick Gaming, with tech layoffs in the regions it serves affecting its customer base’s income. With people less inclined to spend their money in casinos, according to a June 2024 report by S&P Global Ratings, the company began to struggle.
Operating out of predominantly large spaces, Maverick Gaming had high operating costs, as noted with the highest owed sum to Project Evergreen WA LLC above.
Although the company completed a debt exchange in 2024, acquiring fresh cash assets and a two-year extension for its debt, the situation has apparently not improved. The new loan catered for a payment-in-kind arrangement, meaning Maverick could pay interest with principal rather than cash. It also required cash interest to begin in the first quarter of 2025.
While the filing was placed in Texas, the bankruptcy is part of a larger coordinated action involving numerous affiliated Maverick Gaming entities across multiple states, including Washington, Nevada, and Colorado.
Maverick also operates physical casinos, which could also have contributed to the decline. Many bettors are preferring to use online casinos of late, with a 25% boom to online casino use.
Readwrite has reached out to Maverick Gaming for comment.
Featured image: Unsplash
