Maverick Games
- Founded
- 2017-01-01 in Las Vegas, Nevada, USA
- Headquarters
- Las Vegas, Nevada, USA
Maverick Gaming is a US-based regional casino and cardroom operator founded in 2017 by high-stakes poker player Eric Persson and gaming industry veteran Justin Beltram. The company built a portfolio of 26 properties across Washington, Nevada, and Colorado, encompassing approximately 2,500 slot machines, 320 table games, 1,200 hotel rooms, and 30 restaurants. Maverick’s strategy focused on acquiring underperforming assets and driving operational improvements, more than doubling EBITDA at its Elko, Nevada properties within the first year and increasing EBITDA at its Wendover assets from $4 million to over $17 million annually. The company also owned EGads!, a Las Vegas-based casino fabrication business acquired in 2020. After accumulating $306 million in secured debt, Maverick Gaming filed for Chapter 11 bankruptcy in July 2025 in the Southern District of Texas. A multi-segment sale process yielded over $119 million in aggregate value; co-founder Persson’s entity repurchased select poker operations for $28 million. The case illustrates the challenges faced by non-tribal operators competing with tax-exempt tribal casinos in the Pacific Northwest.
Detailed Review
History and Founding
Maverick Gaming was founded in 2017 as RunItOneTime LLC, later doing business as Maverick Gaming. The founders—Eric Persson (CEO) and Justin Beltram (COO)—brought more than 30 years of combined experience from Las Vegas Sands, Bellagio, and Marina Bay Sands. The company’s core strategy was to acquire underperforming regional casino assets and apply lean operational changes to boost profitability.
Property Portfolio
Maverick Gaming’s portfolio included: - Nevada: Wendover Nugget Hotel & Casino (73,000 sq ft, 574 slots, 23 table games, 489 rooms); Red Garter Hotel & Casino; Maverick Casino & Hotel Elko; Gold Country Casino; High Desert Inn. - Colorado: Grand Z Casino & Hotel (28,933 sq ft, 576 slots, 118 rooms); Dragon Tiger Casino; Z Casino. - Washington: 17 operating cardrooms (poker and table game facilities under state regulation) plus eight non‑operating properties that had been closed to consolidate revenue.
Beyond gaming operations, Maverick held EGads!, a Las Vegas fabrication business acquired in 2020 for ~$11 million that designs and manufactures casino displays, themed elements, and architectural treatments.
Financial Trajectory and Bankruptcy
The company’s early operational successes enabled expansion financed through $306 million in debt. However, competition from tax‑exempt tribal casinos, a $17.8 million annual sale‑leaseback rent obligation, and mounting debt led to a Chapter 11 filing on July 14, 2025. A transaction support agreement with lenders holding ~78% of first‑out and ~70% of second‑out term loans facilitated a sale process that generated over $119 million across nine transactions. Co‑founder Eric Persson won a $28 million bid for select poker operations, repurchasing part of the company through the bankruptcy process.
As of the filing date, Maverick Gaming’s capital structure was unworkable, and the company’s future remains tied to restructuring outcomes. The case is pending in the U.S. Bankruptcy Court for the Southern District of Texas.
Key Products
Clutch
A cinematic, open-world, narrative-led action-driving game in development for PC, PlayStation 5, and Xbox Series X|S. It blends car culture, music, and multiplayer elements, and was originally scheduled to be published by Amazon Games before that partnership ended in February 2026.
Wendover Nugget Hotel & Casino
Nevada casino-hotel with 574 slots, 23 table games, and 489 rooms.
Red Garter Hotel & Casino
Nevada property in West Wendover.
Maverick Casino & Hotel Elko
Elko, Nevada casino-hotel.
Gold Country Casino
Elko, Nevada casino.
High Desert Inn
Elko, Nevada hotel.
Grand Z Casino & Hotel
Black Hawk, Colorado casino-hotel with 576 slots and 118 rooms.
Dragon Tiger Casino
Central City, Colorado casino.
Z Casino
Black Hawk, Colorado casino.
Washington Cardrooms (17 operating)
Poker and table game facilities under Washington state card room regulations.
EGads!
Las Vegas casino fabrication business designing displays, themed elements, and architectural treatments.
Offices & Headcount
144 employees (approx.)
Key Persons
Harinder SanghaCo-founder & COO
- Mike Brown
Founder, CEO & Creative Director
- Tom Butcher
Co-founder