Houlihan Lokey Advises Casino Caribbean

Houlihan Lokey is pleased to announce the successful sale of five Washington house-banked card rooms owned by Casino Caribbean to Maverick Gaming LLC (Maverick). The transaction closed on October 1, 2019.

Incorporated in 2002, Casino Caribbean is a privately held gaming company that owns and operates five full-service, house-banked card rooms throughout the Seattle metropolitan area: the Casino Caribbean in Yakima; the Casino Caribbean and Caribbean Cardroom in Kirkland; the Macau Casino in Lakewood; and the Macau Casino in Tukwila. At the time of the transaction, the company was one of the leading Washington card room owners and operators, featuring 70 table games and more than 54,000 square feet of gaming space.

Founded in 2017, Maverick is a privately held regional gaming owner and operator focused on opportunistic casino acquisitions throughout the United States. Following the acquisition, Maverick owns 23 casinos and cardrooms comprising approximately 1,500 slot machines, 1,200 hotel rooms, and more than 290 table games between Nevada and Washington.

Houlihan Lokey was retained as the exclusive financial advisor to Casino Caribbean to run a sale process to monetize the assets for the company's majority shareholder in this broader personal estate planning initiative. Houlihan Lokey assisted in the initiation, structuring, negotiation, and completion of the sale transaction with Maverick on behalf of the company. The sale was announced on August 19, 2019, and was completed approximately two weeks later on October 1, following approval by the Washington State Gambling Commission and the Washington State Liquor and Cannabis Board.

Houlihan Lokey served as financial advisor to Casino Caribbean.