Maverick Gaming Enters Chapter 11, Ropes & Gray Advises Lenders
Deal News | Jul 15, 2025 | Ropes & Gray
Ropes & Gray LLP is representing an ad hoc group of secured lenders and certain debtor-in-possession (DIP) lenders in connection with Maverick Gaming’s Chapter 11 bankruptcy cases filed on July 14, 2025. Maverick Gaming, a regional gaming and entertainment company, operates cardrooms and casinos across multiple states. The bankruptcy proceedings involve a sale and reorganization process under Chapter 11. The ad hoc group of lenders collectively owns or holds over 80% of Maverick Gaming's term loans, and some group members have extended $7.5 million in bankruptcy financing to the company. The Ropes & Gray team advising them includes business restructuring partners Ryan Preston Dahl and Daniel Gwen, finance partners Leonard Klingbaum and Milap Patel, corporate partner Patrick Dorime, as well as associates Nell Ethridge and Margaret Alden.
Sectors
- Gaming and Entertainment
- Legal Services
- Financial Services
Geography
- United States – Maverick Gaming operates across multiple states in the U.S., making it the geographical focus of this article.
Industry
- Gaming and Entertainment – Maverick Gaming operates cardrooms and casinos, making the Gaming and Entertainment Industry relevant to this article.
- Legal Services – Ropes & Gray LLP is providing legal advisory services in the bankruptcy and restructuring process, highlighting the Legal Services Industry.
- Financial Services – The involvement of secured lenders and DIP lenders in Maverick Gaming's bankruptcy proceedings ties the Financial Services Industry to this article.
Financials
- $7.5 million – The amount of bankruptcy financing provided by certain members of the ad hoc group of lenders to Maverick Gaming.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Maverick Gaming | Target Company | Company | A regional gaming and entertainment company involved in Chapter 11 bankruptcy proceedings. |
| Ropes & Gray LLP | Legal Advisor | Company | A law firm advising the ad hoc group of lenders in the Maverick Gaming bankruptcy case. |
| Ad Hoc Group of Lenders | Lenders | Company | A collective of secured lenders and certain DIP lenders involved in Maverick Gaming's bankruptcy case. |
| Ryan Preston Dahl | Partner, Business Restructuring | Person | A partner at Ropes & Gray involved in advising the ad hoc group of lenders. |
| Daniel Gwen | Partner, Business Restructuring | Person | A partner at Ropes & Gray involved in advising the ad hoc group of lenders. |
| Leonard Klingbaum | Partner, Finance | Person | A finance partner at Ropes & Gray involved in advising the lenders. |
| Milap Patel | Partner, Finance | Person | A finance partner at Ropes & Gray involved in advising the lenders. |
| Patrick Dorime | Partner, Corporate | Person | A corporate partner at Ropes & Gray involved in advising the lenders. |
| Nell Ethridge | Associate | Person | An associate at Ropes & Gray involved in advising the lenders. |
| Margaret Alden | Associate | Person | An associate at Ropes & Gray involved in advising the lenders. |