It was last year when Maverick petitioned state gaming regulators to allow the company’s cardrooms to accept larger bets. Following a heated conversation last Thursday, the Gambling Commission voted 3-2 in favor of increasing the maximum permitted wager for a commercial cardroom from $300 to $400.
The Washington Indian Gaming Association (WIGA) opposed the cardroom limit increase. The organization claimed the increase further goes against the original intent of the social gaming statute.
If anything, the smaller ‘mom and pop’ establishments have been squeezed from the market as the remaining operators consolidate, acquire market share from these smaller establishments, and brand themselves as ‘casinos.’
Persson Maverick CEO told the state Gambling Commission while applying for the betting increase. “We don’t have sports betting. It already hurts our business on the weekends, but what can we do? At the end of the day, all we’re trying to do is compete.”
State Gambling Commissioner Julia Patterson, who made the motion to approve the change, said the matter was “a difficult decision” and “very divisive.” “I think the arguments on both sides are very compelling,” Patterson added.
The other face of the coin
Erick Persson CEO of Maverick declare after decision “I have a pretty big investment in the state, have a pretty big investment in cardrooms, and we’re trying to figure out how do we make it be vibrant”
Maverick had asked for a $200 increase to $500. The company says higher max bets will allow the company’s cardrooms to better compete with tribal casinos where bets of more than $500 per hand are allowed.
