Maverick Gaming shuts down MLTs Dragon Tiger Casino one of four statewide

Maverick Gaming announced the closure of its four casinos in Washington, including the Dragon Tiger Casino, after the Washington Gaming Commission rejected its centralized surveillance petition. The company's outdated surveillance system, potentially dating back to the 1990s, was deemed too costly to upgrade. Maverick's parent company has filed for Chapter 11 bankruptcy, citing years of operating losses at some locations. The gaming board's decision highlighted the challenges faced by smaller cardrooms compared to larger casinos in Nevada. Maverick sought a variance to use off-site surveillance, arguing that similar exceptions exist in states with smaller populations.

The company's secured lenders agreed to provide new financing as part of a support agreement. Maverick aims to restructure or sell its operations under bankruptcy court supervision. Seery, the Chief Restructuring Officer, expressed optimism about preserving stakeholder value during this process.