Maverick Gaming co-founder Eric Persson said Thursday he is in the process of reacquiring the Maverick Casino Hotel and the Gold Country Inn and Casino in Elko, a move expected to keep both properties open and preserve 239 jobs. The transaction, which Persson described as unusual because he is buying back his own name and brand from lenders, is being monitored by Nevada gaming regulators and is expected to close within three weeks.
The casinos had been on the verge of possible closure, with Worker Adjustment and Retraining Notification notices filed last week warning of potential shutdowns by Nov. 30. The notices covered 198 employees at the Maverick Casino Hotel and 41 at Gold Country. Persson said those workers would technically lose their jobs but be rehired by the new ownership.
Persson signed a transition service agreement with his lenders and is acquiring the Maverick brand through an auction, giving him the ability to keep the properties operating. The casinos are currently managed by RRC Gaming Management LLC under former Caesars Entertainment CEO Tony Rodio. "Everyone's goal is to get these assets out of Chapter 11 as fast as possible," Persson said.
Persson, a Las Vegas professional poker player, said he is using a strategy similar to one he employed in Washington state, where eight casinos facing closure remained open and saved 850 jobs in gaming, food service, security, and management. Terms of the Elko deal were not disclosed.
Sources: Las Vegas Review-Journal
Original reporting: Las Vegas Review-Journal →
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