Acquisition of Colorado’s largest casino operator includes three Denver-area casino properties collectively featuring 1,500 slot machines, 20 table games and 119 hotel rooms
LAS VEGAS, NV – September 30, 2019 – Maverick Gaming LLC (“Maverick” or “Maverick Gaming”), an owner of regional gaming assets, today announced the signing of a definitive purchase agreement with CC Gaming LLC (“CC Gaming”), Colorado’s largest locally-owned casino operator , to acquire its gaming and non-gaming assets, which include Z Casino in Black Hawk, CO; Grand Z Casino Hotel in Central City, CO; Johnny Z’s Casino in Central City, CO; and the Z Stop Convenience Store and Gas in Golden, CO. The transaction will add over 1,500 slot machines, 20 table games and 119 hotel rooms to the Maverick portfolio. Black Hawk / Central City, Colorado is one of the top 15 gaming markets in the United States (per the American Gaming Association). Terms of the transaction were not disclosed.
Maverick Gaming was founded by leading gaming industry veterans to be a best-in-class regional owner and operator of gaming assets in North America. Maverick and its affiliates currently own 23 gaming establishments in the United States.
Eric Persson, the majority owner of Maverick and its affiliates said, “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.”
Mr. Persson continued, “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.”
Mr. Zimpel commented, “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.”
Maverick intends to fund this transaction primarily with cash on hand and financing from HG Vora Capital Management, a private investment firm. “HG Vora is an important financing partner for Maverick Gaming with deep experience in the gaming sector. We look forward to growing our portfolio over the near term with their partnership” Mr. Persson commented.
The transaction is subject to the approval of the Colorado Limited Gaming Control Commission and is expected to close this year.
ADVISORS
Innovation Capital, LLC acted as exclusive sell-side financial advisor to CC Gaming. Jester Gibson & Moore, LLP acted as legal counsel to CC Gaming. Lewis Roca Rothgerber Christie LLP and Butler Snow LLP acted as legal counsel to Maverick Gaming.
ABOUT MAVERICK GAMING LLC
Maverick Gaming is majority-owned and was founded by gaming industry veterans Eric Persson, who previously served as Global Senior Vice President of Slots at Las Vegas Sands and Justin Beltram, former Vice President of Slots at Bellagio and Marina Bay Sands. Together they bring over 30 years of gaming experience spanning gaming markets around the world including the Las Vegas Strip (Venetian, Palazzo, Bellagio), Macau (Sands China Limited), Singapore (Marina Bay Sands), and many regional markets in North America. Maverick Gaming currently owns the Wendover Nugget and Red Garter Hotel, the Red Lion Casino, the Gold Country Casino, and 19 card rooms in Washington State. Maverick’s portfolio includes approximately 1,500 slot machines, nearly 350 table games and 1,200 hotel rooms nationwide.
ABOUT CC GAMING LLC
CC Gaming is the largest casino operator in Colorado, owning a portfolio of 3 casino properties: Johnny Z's Casino (opened in 2011) located in Central City, Z Casino (opened in 2013) located in Black Hawk, and Grand Z Casino Hotel (opened in 2017) located in Central City. CC Gaming also owns and operates the Z Stop Convenience Store and Gas, the only gas station and convenience store located between Denver and Black Hawk/Central City on Highway 119.