TITLE

Herbst Gaming will split businesses

AUTHOR(S)
Stutz, Howard
PUB. DATE
March 2009
SOURCE
Las Vegas Business Press (10712186);3/16/2009, Vol. 26 Issue 11, pP14
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article announces that Herbst Gaming will file for bankruptcy with the U.S. Bankruptcy Court in Nevada in a strategic endeavor to split its casino and its slot route businesses in Nevada, Iowa and Missouri. The decision was made after the gaming company's lenders agreed to restructure its loans on the condition that it will split its business where one holding company will own the casinos and the second company will handle the slot machine operations.
ACCESSION #
40538994

 

Related Articles

  • Herbst Gaming files bankruptcy plan. Stutz, Howard // Las Vegas Business Press (10712186);3/30/2009, Vol. 26 Issue 13, pP13 

    The article reports that Herbst Gaming has filed a prepackaged Chapter 11 bankruptcy reorganization plan in March 2009. It is stated that this filing will result in the company losing ownership of its casinos but retaining control of its slot machine route in Nevada. The company previously...

  • Herbst Gaming needs to pay bondholders or draft restructuring plan. Stutz, Howard // Las Vegas Business Press (10712186);11/24/2008, Vol. 25 Issue 47, pP15 

    The article reports that Herbst Gaming needs to pay its bondholding more than $846.8 million or draft a restructuring plan for its debt payments until December 3, 2008. According to the author, this company, which operates 15 casinos in Nevada and Midwest, was facing bankruptcy unless it could...

  • Remade Herbst Gaming expected to exit bankruptcy by year's end. Stutz, Howard // Las Vegas Business Press (10712186);12/13/2010, Vol. 27 Issue 50, pP12 

    The article reports on the focus of Herbst Gaming's new management and owners on the operations of the casino company and slow machine routes such that the reconstituted company is expected to exit bankruptcy by the end of 2010.

  • 'Terrible' deal.  // Casino Journal;Jan2007, Vol. 20 Issue 1, p9 

    The article reports on the decision of MGM Mirage to sell its Primm Valley resort properties to Herbst Gaming Inc. for $400 million under a contract agreed by the two companies. It mentions that there are 2,644 guest rooms, 136,000 square feet of casino space, 2,900 slot machines, 98 gaming...

  • SLOWLY LOOKING UP. Stutz, Howard // Las Vegas Business Press (10712186);12/27/2010, Vol. 27 Issue 52, pP6 

    The article discusses the declining trend in the gaming industry in Las Vegas, Nevada following the launch of the Cosmopolitan of Las Vegas. Las Vegas decided not to expand beyond its base of around 150,000 hotel rooms other than possible hotel expansions. Tropicana Entertainment, Herbst Gaming,...

  • DEADLINE LOOMS FOR HERBST GAMING. Stutz, Howard // Las Vegas Business Press (10712186);11/24/2008, Vol. 25 Issue 47, pP20 

    The article reports that Herbst Gaming needs to pay its bondholding more than $846.8 million or draft a restructuring plan for its debt payments. It notes that the company must be able to accomplish one of these tasks until December 3, 2008. According to the author, this company, which operates...

  • Herbst Gaming to exit bankruptcy. Stutz, Howard // Las Vegas Business Press (10712186);12/27/2010, Vol. 27 Issue 52, pP13 

    The article reports on the emergence of Herbst Gaming from bankruptcy by the end of 2010 after the Nevada Gaming Commission signed off on the court-approved reorganization plan for the casino company.

  • Ruling coming on video poker fraud suit. Jackson, Hugh // Las Vegas Business Press;11/10/97, Vol. 14 Issue 45, p1 

    Reports on a lawsuit against casinos in Las Vegas, Nevada for allegedly misrepresenting winning chances at slots and video poker machines. Casinos' call for the dismissal of the lawsuit; Lawsuit's origin from the cases of gamblers William Ahearn, William Poulos and Larry Schreler; Plaintiffs'...

  • Suncoast will offer limited cash payouts. Burbank, Jeff // Las Vegas Business Press;09/04/2000, Vol. 17 Issue 35, p3 

    Clarifies a media misconception about the Suncoast hotel-casino in Las Vegas, Nevada. Postponement of opening date; Number of ticket-printing slots; Enhancement of customer service; Features of the hotel-casino.

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics