TITLE

Herbst Gaming talking restructuring after missing interest payment

AUTHOR(S)
Stutz, Howard
PUB. DATE
December 2008
SOURCE
Las Vegas Business Press (10712186);12/15/2008, Vol. 25 Issue 50, pP14
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports that a restructuring agreement is being discussed by Herbst Gaming with its lenders after it missed its $5.1 million interest payment. The gaming company also extended its forbearance and standstill agreement with its banks until February 2, 2009 in line with the restructuring of its debt. The company has lost a total of $101.2 million in the first nine months of 2008. The company would face bankruptcy if it fails to restructure its debt.
ACCESSION #
35857968

 

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