CasinoCityTimes.com

Home
Gaming Strategy
Featured Stories
News
Newsletter
Legal News Financial News Casino Opening and Remodeling News Gaming Industry Executives Search News Subscribe
Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter!
SEARCH NEWS:
Search Our Archive of Gaming Articles 
 

Herbst Gaming, parties agree to extend talks

2 October 2008

LAS 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.

< Gaming News