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Herbst Gaming, parties agree to extend talks2 October 2008LAS VEGAS, Nevada -- Herbst Gaming and its lenders agreed to extend their talks on a financial restructuring plan covering the company's $1.2 billion debt until Nov. 5, a Wednesday filing with the Securities and Exchange Commission shows. Herbst, a Las Vegas-based casino and slot machine route operator has been seeking a remedy for its financial troubles since last spring. The deadline was Tuesday, but both sides agreed to the extension. Herbst, which operates 15 casinos in Nevada and the Midwest and a 7,200-machine Nevada slot route operation, said last spring it was facing a bankruptcy filing unless a restructuring agreement could be reached. Herbst has lost more than $78.8 million in the year's first six months. Copyright GamingWire. All rights reserved. |