You'd be better at poker if you tried to figure it out.

Indeed, Fortune Renton has been the most profitable casino in WA in 2021, 2020 and 2019 (https://wsgc.wa.gov/publications/car...ial-statements) and highest grossing card room in 2021 and 2020. No newer data than 2021. To my understanding this is combined income from the main casino cardroom and poker cardroom (which would make sense that they would have high revenue) - but overall they are doing pretty well.

I am not offended Steve, but I totally get why you're so worked up. Time is hard man, I feel for ya.

Time is hard

mavrick so bad. and owner eric person so mean and liar. i think need new job soon. please fortune hire me


S&P said it believes a restructuring or traditional default is on the horizon.

https://www****dcomps.com/lcd

Maverick Gaming upgraded to CCC following $45M term loan repurchase
Sean Czarnecki

S&P Global Ratings has upgraded Maverick Gaming to CCC, from Selective Default (SD), with the agency citing the casino operator repurchasing about $45 million of its $310 million first-lien term loan at a “significant” discount to par. S&P also raised the term loan to CCC, from D, and affirmed Maverick's revolver at B-, removing it from CreditWatch, where it was placed on Aug. 25.

S&P said it views the below par repurchases as “tantamount to default” because the lenders did not receive adequate compensation and because of the company’s ongoing cash burn and need for additional liquidity.

“We believe another restructuring or traditional default appears likely in the next 12 months absent a significant favorable change in Maverick's financial position,” S&P said.

The agency said it predicts Maverick’s revenue will increase 12-17% in 2023, driven by the acquisition of four Washington-based cardrooms following the acquisition of Evergreen Gaming at the end of 2022, and increase further by low- to mid-single-digit percentages in the following year.

S&P said it believes that Maverick’s legacy cardrooms underperformed this year because of “ineffective management and marketing strategies,” coupled with operational challenges at its Colorado properties.

The agency said the company’s capital structure is “unsustainable,” adding that its forecasted EBITDA (low-20% area margin in 2023 and a few hundred basis points higher in 2024) is too low compared to its fixed charges, lease expenses, interest, and capex.

While various cost and capex reductions are ongoing, Maverick will not be able to “support its fixed charges in 2023 and 2024 at these revenue and EBITDA levels,” the agency added.

S&P said it believes Maverick's leverage is higher than 7x, which will limit its ability to draw on its revolver and further constrain liquidity, while its net sources will be negative. The company’s liquidity includes roughly $26.5 million of unrestricted cash as of June 30.

Originally created in 2017 via the acquisition of the Wendover Nugget Hotel & Casino and the Red Garter Hotel & Casino, Maverick Gaming now owns and operates casinos and cardrooms in Colorado, Nevada and Washington. It also owns E-Gads, a Las Vegas-based manufacturer of display products for gaming companies.

welcome to the forum and thanks for the update johnny.

I noticed the 450 MTTS at Aces and Caribbean were taken off Poker Atlas but not Mavericks website. They are the only two tournaments a month not raked to death IMO. I hope they stick around because I do love MTTs and they are good practice for my WSOP trips every year. 400+50 is reasonable and 150+50 is disgraceful.

thanks for saving me from wasting my time. you are right. they are doing freerolls today. i'm not eligible.
Hollywood is running a $160 Progressive KO at 5pm. I'm in.

On their website they said they moved it to the third sunday for Caribbean instead of the 2nd. I am just worried why they took it off poker atlas.

Not Fortune the poker room. If Fortune can operate at 25x the profit margin as Caribbean while raking less, it would own all the card rooms.

You are right. House-banked distinction strikes again!!!

Wow

http://dmvmavericksettlement.com/

i don't recognize the plaintiffs. anyone know where they worked?
plus $600k in attorneys fees. maybe i shouldve been a lawyer.

did anyone play the pko tourney at hollywood, if it even went off? (doubtful)

PLO tourney is actually a great way of showing just how cash and tourney players do not intersect.

PLO player pool in Seattle is strictly in the cash games and almost exclusively up in Aces in Mountlake. Running a tourney drew almost no new players, because the ones that might actually sign up for PLO tourneys are all cash players, and they much rather play cash.

So basically cash players won’t play tourneys and tourneys won’t draw new players.

It’s just so painfully obvious at this point that the only reason to run tourneys is to profit directly from running them. Tourney players don’t normally tip servers (because the act of reaching into wallet for $1 is apparently that much harder) and they take up valuable parking spaces for cash players.

I’d say to rake the crap out of tourney, make them pay for it, and hey, maybe it’ll force them to play cash because it seems so “unprofitable.”

I'm not familiar with Aces but I'll be in the area this week. Can anyone tell what games usually run there?

any plo8 or Big 0 games anywhere in Seattle?

Big O in Aces and Hollywood, but plays big 25/25 or bigger. PLO8 nope.

this was hollywood's 15-30 mix on wednesday:

dramaha
badeucey
badugi
action razz
5 card omaha double board
2-7
razzdugi
badaci
super stud8
archie

I've only familiar with like four of those. Feels like a trap. A few normal games with some weird carnival ADD games tossed in. Hold em is too boring for these people

there's something for everyone. get there early and you can pick some games. and with such a wide variety nobody is a shark at all of them.

What is "action razz"?

https://www.cardplayer.com/cardplaye...61-action-razz

Damn, I'm sorry I had to move away. Here in the Midwest we have variety too: 4-card, 5-card, and 4c-5c-mix PLO. Not quite the same.

Send my regards to the mixed game folks.

Robbery in front of Aces with one of the patrons: https://mltnews.com/mountlake-terrac...ept-6-12-2023/

Aces was not mentioned, but the address and others had confirmed.

Wasn’t targeted. Just in the wrong place at the wrong time at 2am.