Maverick Gaming’s logo features the classic imagery of a wild west outlaw. When it comes to cardrooms in Washington, a depiction of the Monopoly man might be more accurate.
Maverick Gaming has acquired another Washington cardroom, bringing its total in the state to 23. It’s unclear whether Maverick will retain ownership of the facility moving forward, however.
Maverick Gaming buys All-Star Lanes & Casino
According to a Thursday news release from Maverick Gaming, the Silverdale, Washington, cardroom is now part of Maverick’s operations. In addition to dining and non-gaming entertainment, All-Star Lanes & Casino offers poker and other house-banked card games.
Maverick intends to integrate its internal self-exclusion program and other gambling policies at All-Star. Across Washington, there are 41 licensees for house-banked cardrooms. Maverick says it now owns 23 of them.
Maverick has expanded via acquisitions since late 2022. While it also has gambling facilities in Colorado and Nevada, its headquarters and most of its operations are in Washington. Those operations don’t represent the real estate in every case.
Could All-Star become latest real estate sale and lease transaction?
In June, Maverick sold the real estate connected to one of its Washington cardrooms to a firm that specializes in real estate holdings. The sale and lease of the Palace and Chips Casino in Lakewood represented the second such transaction between Maverick and Oak Street Real Estate Capital.
These arrangements are becoming more common in connection to gambling facilities in the United States. Gaming companies like Maverick lease the properties from the real estate firms. For the gambling companies, it allows them to focus on running the properties while avoiding overhead that comes with ownership of the facilities.
Maverick has not alluded to performing a similar move with All-Star, at least as of Thursday. It could still occur, though. Such transactions give Maverick further capital to potentially acquire more of the cardrooms in Washington.
Maverick now comfortably owns the majority of Washington cardrooms. It might someday hold a legitimate monopoly there.