Herbst Gaming Misses Debt Payment

LAS VEGAS (AP) - Herbst Gaming says it is discussing a restructuring agreement with its lenders after missing a $5.1 million interest payment earlier in the week.

In a Security and Exchange Commission filing, the Las Vegas-based gambling operator says it extended its forbearance agreement with its banks until Feb. 2 in an attempt to restructure nearly $850 million in debt.

Herbst Gaming says it lost more than $101 million in the first nine months of 2008, compared with a net loss of $34.1 million for the same period a year earlier.

The company operated the Primm and Terrible's casino chains, along thousands of slot machines in Nevada restaurants, bars, gas stations and locations outside of casinos.

---
Information from: Las Vegas Review-Journal, http://www.lvrj.com

(Copyright 2008 by The Associated Press. All Rights Reserved.)


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
KOLO-TV 4850 Ampere Drive Reno, NV 89502
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 35655964 - kolotv.com/a?a=35655964
Gray Television, Inc.