Maverick Gaming makes new purchase, setting its eyes on Colorado

Maverick Gaming continues to see its domestic footprint grow in the U.S. The Nevada-based company recently purchased a casino in Washington State to add to its portfolio and has now taken another step forward to make its lineup a little heavier. According to a company statement, Maverick is ready to add three casinos in Colorado through its purchase of CC Gaming LLC.

Maverick is going to acquire all gambling and non-gambling assets at the three venues, as well as a combined convenience store and gas station. The properties are the Grand Z Casino Hotel in Central City, Johnny Z’s Casino in Central City and the Z Casino in Black Hawk, and the deal gives Maverick access to 1,500 slot machines, 20 table games and around 120 hotel rooms.

As usual, no casino deal goes through without receiving approval from regulators, and this is where Maverick now stands with its acquisition. It is hoping the Colorado Limited Gaming Control Commission will sign off on the purchase so that it can close on the transfer of assets sometime next month.

Eric Persson, majority owner of the privately-held company, said in the statement, “As Maverick continues to grow and expand our portfolio of regional gaming properties and assets, we are extremely pleased to add CC Gaming’s casinos to our company. I admire the work that John Zimpel, Owner and Managing Member of CC Gaming, has done to grow his casino business and we look forward to building upon the foundation he established.”

He added, “We believe this purchase puts us in position to become a significant player in the Colorado gaming market with an emphasis on Denver. Given Denver’s growing population of nearly three million people, limited gaming distribution and a thriving economy, we believe we can add value to the Denver gaming market, which we intend to invest in as owner-operators.”

The terms of the deal haven’t been revealed, but Maverick expects to cover the purchase with its own cash, as well as with financing provided by private investment firm HG Vora Capital Management, the same company that helped it secure its Washington expansion.

There aren’t many details on what Zimpel plans on doing now – perhaps he’ll just enjoy some time off at a log cabin in the Rockies. He only said in the announcement, “It is with great pride and hard work that my team and I have built CC Gaming into the largest locally owned casino operation in Colorado. CC Gaming’s success can be attributed to our customer focused product offering and the best team members in Colorado. I believe that Maverick will be a great owner and operator and look forward to a smooth transition.”