Casino operator closes two more locations in Chapter 11

When you enter a casino, it’s important to remember that the house always wins.

You may have a lucky streak, but even the most skilled gamblers eventually lose money.

“Every game in the casino is designed to give the casino an advantage. This is known as
the ‘house advantage,’” according to the American Gaming Association (AGA).

Even the skill-based games, including blackjack and other card games, have a house edge.

“In those games, skilled players can increase their chances of winning; however, their
outcomes also favor the casino over time. The house advantage is a mathematical
certainty that is figured into every casino game,” the AGA added.

That means when a casino loses money, it’s because the operator can’t attract enough customers.

For Maverick Gaming, which filed for Chapter 11 bankruptcy in July, according to documents filed on PacerMonitor, a lack of traffic has been part of why it has closed multiple casinos.

Maverick Gaming remains in Chapter 11 bankruptcy

Maverick Gaming, which owns and operates a portfolio of 27 properties across Nevada, Washington, and Colorado with a total of 1,800 slot machines, 350 table games, 1,020 hotel rooms, and 30 restaurants, filed for Chapter 11 bankruptcy in July.

It closed the Silver Dollar SeaTac Casino in September laying off about 65 employees there,” the Puget Sound Business Journal reported.

Maverick disclosed the layoffs in a Worker Adjustment and Retraining Notification filed Tuesday, April 21, with the state of Washington.

“The WARN said Maverick told the state in September it planned to close the Silver Dollar, located at 19202 Pacific Highway S., in December, but Maverick didn’t end up doing so because it was negotiating a sale of the Silver Dollar as part of an ongoing bankruptcy proceeding. The company now plans to close the casino,” according to the Puget Sound Business Journal.

Now, the company has closed two more casinos as part of its ongoing Chapter 11 bankruptcy.

Maverick Gaming closes two more casinos

Maverick shared on June 5 that it is closing two Washington casinos and laying off 132 employees while continuing its restructuring plan under Chapter 11 bankruptcy protection, according to KIRO 7.

The layoffs are scheduled to take effect on July 31 and span a wide range of positions inside the Silver Dollar Mill Creek Casino and Crazy Moose Mountlake Casino, according to the Worker Adjustment and Retraining Notification.

Crazy Moose Mountlake Casino disclosed that approximately 82 employees would be affected by the closure. The vast majority of the impacted positions are table game dealers, with hospitality and security teams also seeing significant cuts.At Silver Dollar Mill Creek Casino, approximately 41 employees are set to be laid off. The cuts range from table game dealers to security to management.

Maverick Gaming has disclosed three separate rounds of layoffs over the last two months, impacting 188 positions across its SeaTac, Bothell, and Mountlake Terrace locations, according to KIRO.

Maverick Gaming has closed two casinos in Washington state.

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Maverick hopes to remain open

Maverick Gaming, under its corporate name, RunItOneTime LLC, filed for Chapter 11 bankruptcy on July 14, 2025, according to court documents found on PacerMonitor.

“The decision to initiate this court-supervised process follows a strategic review of Maverick’s capital structure and operations,” Maverick shared in a press release.

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Maverick’s filing came after a report from S&P Global Ratings that cast serious doubt on its finances.

“The ratings agency stated that the company’s capital structure was ‘unsustainable’ because high fixed charges, including interest, rent, capital expenditures, and lease costs, outpaced forecasted earnings.”

That was followed by an even stronger action by S&P.

In June 2025, S&P Global Ratings withdrew all ratings on Maverick Gaming, including its ‘CCC’ issuer credit rating, citing a lack of sufficient information to maintain coverage. At the time of withdrawal, the agency maintained a negative outlook on the company.

The action was later summarized by SCCG Management, a gaming industry advisory firm.

The filing followed an agreement between Maverick and its creditors.

At the time of the filing, Maverick said it planned to keep all of its locations open.

“Maverick Gaming’s properties remain open and operational, and the company is continuing to deliver the same high-quality gaming and hospitality experience that customers have come to expect,” the company shared.

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