Casino operator closes two more locations in Chapter 11
Maverick Gaming has closed two Washington casinos and laid off 132 employees as part of its ongoing Chapter 11 bankruptcy restructuring.Summary
Maverick Gaming, which filed for Chapter 11 bankruptcy in July, has closed two more casinos in Washington state as part of its restructuring plan. The company shut down the Silver Dollar Mill Creek Casino and Crazy Moose Mountlake Casino, resulting in layoffs for 132 employees. Maverick disclosed these closures in a Worker Adjustment and Retraining Notification filed with the state. The company has now disclosed three rounds of layoffs impacting 188 positions across its Washington locations. Maverick Gaming, operating under the corporate name RunItOneTime LLC, filed for bankruptcy after a strategic review of its capital structure and operations. The filing followed a report from S&P Global Ratings that deemed the company's capital structure 'unsustainable' due to high fixed charges outpacing forecasted earnings. Despite the closures, Maverick stated that its properties remain open and operational, and the company is continuing to deliver the same high-quality gaming and hospitality experience to customers.
(Source：Thestreet)