Major casino operator closures put over 1,200 jobs at risk

Americans are spending heavily at casinos and sportsbooks, pushing U.S. commercial gaming revenue to record highs.

The industry generated $78.7 billion in 2025, up 9.2% from the previous year, according to the American Gaming Association. 

Traditional casino gaming alone brought in about $50.9 billion, up 2.3%.

And this momentum has continued into 2026. 

In July, U.S. commercial gaming revenue rose 8.6% from a year earlier, while traditional casino gaming revenue increased 3.1% to $4.48 billion.

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But one Washington casino operator is moving sharply in the opposite direction.

Maverick Washington LLC, an affiliate of RunItOneTime LLC, is moving through another round of planned casino closures as the Chapter 11 restructuring continues.

The company recently filed new Worker Adjustment and Retraining Notification (WARN) notices, noting the permanent closure of 8 casinos.

The closures will affect approximately 850 employees whose terminations are expected on Nov. 30.

Combined with earlier WARN filings so far this year, the company has now issued notices covering approximately 1,276 employees across 13 casino locations.

In its bankruptcy filings, the company pointed to competition from tribal casinos, restrictions on the games commercial card rooms can offer, rising labor costs, and a heavy debt burden.

Chief Restructuring Officer Jeff Seery said Washington card rooms cannot offer games such as slot machines, roulette, craps, or sports betting in the same way tribal casinos can, making tribal properties more attractive to some customers.

Those pressures contributed to a sharp deterioration in Maverick’s financial performance. 

EBITDA fell from $52.1 million in 2021 to $18.5 million in 2022 and $16.5 million in 2023, according to the bankruptcy declaration.

Maverick casino closures and job cuts so far in 2026

The latest round covers eight casinos and approximately 850 employees, bringing the total number of workers covered by Maverick Washington WARN notices this year to 1,276 across 13 locations.

Here is a complete list of Casino closures and resulting layoffs this year:

The total represents employees covered by WARN notices and does not necessarily mean all 1,276 jobs will ultimately disappear.

In fact, the bankruptcy process has already produced a potential change for two casinos included in the total.

A Sept. 30 bankruptcy court filing shows the debtors reached an agreement to sell the operations and related personal property of Great American Casino in Tukwila and Riverside Casino to TIL Gaming Bidco LLC.

TIL Gaming Bidco separately reached an agreement with Blue Owl to acquire the real property interests in the two locations.

Under the proposed transaction, the debtors would receive $75,000 along with TIL Gaming Bidco’s assumption of certain liabilities.

The filing says the purchaser would take over operations at the two cardrooms, potentially allowing the properties to continue operating if the sale is completed.

This possibility also applies to the latest eight closure notices.

Maverick Washington said in the WARN filings that because the company remains subject to bankruptcy proceedings, a potential change in owner or operator could mean an announced closure does not occur or is delayed.

In that case, the new owner might retain the employees, and the proposed layoff count is open to change.

Maverick’s bankruptcy followed steep financial deterioration

RunItOneTime LLC and affiliated debtors filed voluntary Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas in July 2025.

In a declaration supporting the Chapter 11 petitions, Seery said in addition to competition from tribal casinos, Washington’s commercial card rooms face restrictions on games, including slot machines, roulette, craps, and sports betting.

These rules do not apply in the same way to tribal casinos, according to the filing.

Seery said those regulatory differences made tribal casinos a more attractive option for many customers.

Rising labor expenses added another challenge.

Between 2022 and 2025, Tukwila’s minimum wage increased 46%, while the rest of Washington saw an increase of 15% over the same period, according to the declaration.

The company also carried approximately $306 million in debt, excluding capital lease obligations.

The restructuring has since focused heavily on selling or transferring assets.

A newer bankruptcy filing says temporary rent concessions from Blue Owl allowed certain properties to remain open during the Chapter 11 proceedings.

But those concessions expire on Dec. 1, 2026.

The debtors said they would no longer be in a position to continue operating properties that had not been transferred or otherwise dealt with under the restructuring arrangement once those concessions end.

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