{"id":4782,"date":"2023-06-09T06:02:59","date_gmt":"2023-06-09T06:02:59","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2023\/06\/09\/maverick-gaming-sells-palace-and-chips-casino-in-lakewood-washington-to-oak-street-real-estate-capital\/"},"modified":"2023-06-09T06:02:59","modified_gmt":"2023-06-09T06:02:59","slug":"maverick-gaming-sells-palace-and-chips-casino-in-lakewood-washington-to-oak-street-real-estate-capital","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2023\/06\/09\/maverick-gaming-sells-palace-and-chips-casino-in-lakewood-washington-to-oak-street-real-estate-capital\/","title":{"rendered":"Maverick Gaming Sells Palace and Chips Casino in Lakewood, Washington to Oak Street Real Estate Capital"},"content":{"rendered":"<div>\n<p>Maverick gambling, a major developer and owner of luxury hotels with gambling facilities, has successfully sold its Lakewood, Washington-based Palace and Chips casino. The sale of the 21,624-square-foot casino for $27 million, or approximately $1.248 per square foot, was documented in Pierce County public records. The property was purchased by an entity associated with Oak Street Real Estate Capital, a private equity real estate firm based in Chicago, Illinois.<\/p>\n<h3>Casino Layout and Location<\/h3>\n<p>According to Pierce County records, the Palace and Chips casinos are located at 8108 and 8200 Tacoma Mall Blvd., respectively, and span 7,817 and 13,807 square feet. The facility, which is conveniently located near the Interstate 5 ramp at South 84th Street and adjacent to a 7-11 convenience store, offers a variety of amenities. 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Exclusive 177% Welcome Bonus  + 77 Free Spins in Aztec Magic Deluxe\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/7bit.partners\/p617d974b\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h3>Previous Purchase and Sale<\/h3>\n<p>According to Pierce County property records, Maverick Gaming purchased the Palace and Chips casino in 2016 for $4.5 million, or nearly $208 per square foot. The current sale represents a big return on investment for Maverick Gaming, as the property sold for a large sum in comparison to its initial acquisition price.<\/p>\n<h3>Second Casino Acquisition<\/h3>\n<p>This is not the first time Maverick Gaming and Oak Street Real Estate Capital have worked together in Lakewood. Oak Street Real Estate Capital previously purchased Maverick Gaming\u2019s Macau Casino, which spans 10,747 square feet, for $22.1 million, or nearly $2,056 per square foot. The <a href=\"https:\/\/igaming.org\/casino-news\/macau-casino-industry-sees-50-drop-in-gross-revenues-in-2022\/\">Macau Casino<\/a> is located two miles north of the Palace and Chips casino at 9811 S. Tacoma Way.<\/p>\n<h3>Continued expansion in the Gaming Industry<\/h3>\n<p>These transactions highlight the gaming industry\u2019s ongoing expansion and transformation, with private equity real estate firms recognizing the value and potential of casino sites. Oak Street Real Estate Capital\u2019s acquisition of these buildings strengthens its foothold in the gaming sector and shows the Lakewood area\u2019s desirability as a lucrative market.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative mb-10\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/mirax.partners\/a5279d0cf\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n\t\t<amp-img alt=\"Mirax Casino\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/Mirax-Casino.png\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative\">\n\t\t<a href=\"https:\/\/mirax.partners\/a5279d0cf\" title=\"Mirax Casino\" target=\"_blank\" rel=\"nofollow noopener\">Mirax Casino<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>350% or 5BTC + <strong>150 Spins!<\/strong><\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive Welcome Bonus &#8211; 350% bonus on your first deposit up to 5BTC\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/mirax.partners\/a5279d0cf\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/igaming.org\/casino-news\/maverick-gaming-sells-palace-and-chips-casino-in-lakewood-washington-to-oak-street-real-estate-capital\/\">Maverick Gaming Sells Palace and Chips Casino in Lakewood, Washington to Oak Street Real Estate Capital<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Maverick gambling, a major developer and owner of luxury hotels with gambling facilities, has successfully sold its Lakewood, Washington-based Palace and Chips casino. The sale of the 21,624-square-foot casino for $27 million, or approximately $1.248 per square foot, was documented in Pierce County public records. The property was purchased by an entity associated with Oak [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-4782","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/4782","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=4782"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/4782\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=4782"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=4782"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=4782"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}